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Question 1
Is made when a deal is agreed, can be accomplished verbally
or in writing.

a) Considerations
b) Contract
c) Offer

Question 2
State the circumstances under which the buyer is prepared to
purchase and the seller is prepared to sell.

a) Written Contracts
b) Verbal Contracts
c) Terms and Conditions

Question 3
He will usually state them on the back of the
order form
a) The buyer
b) The Seller
c) The Judge

Question 4
Is essential in business since they provide protection against
claims made by the other party should problems arise in
fulfilment of the contract.

a)Offer of Terms and Conditions

b) Increase of Terms and Conditions
c) Drawing up of terms and conditions

Question 5
Delivery must be within the specified time period. The right
to cancel is reserved
for late delivery is a typical example of:

a) Clauses incorporated into the conditions of a purchase

order
b) Terms of Trade
c) Ethical Issues

Question 6
Sellers and buyers need to be aware of these
when trading overseas.
a) Conditions of sale document
b) Terms of Trade
c) Ethical issues

Question 7
A number of terms are used to cover these aspects of delivery
and cost. These are called:

a) Incoterms
b) Conditions of sale document
c) Ethical Issues

Question 8
Is a receipt for goods received on board a ship that is signed
by
the shipper (or agent) and states the terms on which the
goods were delivered to
and received by the ship.

a) Ex Works
b) Free on Board (FOB)
c) Bill of Landing

Question 9
This places the exporters liability for loss or damage to the
goods at a minimum and also means that the exporters duties
in delivering the goods are minimal.

a) Ex Works
b) Free On Board (FOB)
c) Free Delivered

Question 10
This extends the responsibility, liability and costs of delivery
for the exporter until
the goods have been loaded on to the ship.

a) Ex Works
b) Free on Board (FOB)
c) Free Delivered

Question 11
The exporter is responsible for the delivery of the goods onto
the ship and pays the insurance on the part of the buyer
against loss or damage while on ship.

a) Ex-Works
b) Free on Board
c) Cost, Insurance and Freight (CIF)

Question 12
This term means that the exporter is responsible for and must
pay all the costs of
transport up to the point of placing the goods alongside the
ship.

a) Free On Board (FOB)

b) Free Alongside Ship
c) Free Delivered

Question 13
This places maximum responsibility and cost on the exporter,
who undertakes to deliver the goods to the importer with all
costs paid and all of the administrative duties carried out by
the exporter.

a) Free on Board (FOB)

b) Free Alongside Ship
c) Free Delivered

Question 14
Unscrupulous salespeople may be tempted to mislead potential
buyers through
inaccurate statements about the product or service they are
selling.

A) Exclusion Causes
B) Faulty Goods
C) False Descriptions

Question 15
This Act states that a product must correspond to its
description and must be of merchantable quality.

a) Exclusion Clauses
b) Faulty Goods
c) False Descriptions

Question 16
For other situations, where loss does not include death or
injury, an exclusion
clause is only valid if it satisfies the requirement of
reasonableness.

a) Exclusion Clauses
b) Faulty Goods
c) False Descriptions

Question 17
In certain circumstances it may be in the sellers interests to
collude with one another in order to restrict supply, agree
upon prices (price fixing) or share out the market in some
mutually beneficial way.

a) Exclusion Clauses
b) Faulty Goods
c) False Descriptions

Question 18
Is the biggest economy in the world
a) China
b) Germany
c)USA

Question 19
He invented the radio
a) Newton
b) Guillermo Marconi
c)Alexander Graham Bell

Question 20
Is the king of Spain
a) Felipe IV
b) Felipe V
c) Felipe VI