L6M10 exam

Which of the following contracts is responsible for setting out the rights and obligations of the carrier and the shipper regarding the transportation of goods?A . Insurance contractB . Contract of financeC . Contract of carriageD . Sales contractView AnswerAnswer: C Explanation: The contract of carriage defines the rights and...

A company relies heavily on a seasonal raw material, and price fluctuations are a concern due to the dependence on the success of the crop. Which factor primarily influences cost planning in this situation?A . Rapid economic growth in ChinaB . Currency exchange ratesC . Seasonal demandD . Speculation in...

When an importer fills out a customs entry form, which of the following documentation must typically accompany the form?A . Certificate of originB . Credit termsC . Choice of currencyD . Documentary letter of creditView AnswerAnswer: A Explanation: A certificate of origin verifies the origin of the goods and is...

ABC company operates in the global supply chain and wants to manage price and currency fluctuations effectively. Which surcharge could help them account for difficulties in navigating poor infrastructure, backlogs, and delays in transportation?A . Peak season surchargeB . Bunker adjustment factorC . War risk surchargeD . Currency adjustment factorView...

Why did corporations like General Motors and DuPont shift to relatively decentralized organizational structures?A . To reduce the importance of technologyB . To increase economies of scaleC . To improve adaptability to local conditionsD . To enhance global competitionView AnswerAnswer: C Explanation: Corporations structured business units around products and geographic...

What strategic questions must global firms consider when managing virtually centralized teams?A . How to improve face-to-face communicationB . How virtual teams fulfill tasks physicallyC . How to manage information complexityD . What types of tasks are best fulfilled by virtual teamsView AnswerAnswer: D Explanation: When managing virtually centralized teams,...

A company is experiencing difficulties in managing supply chain complexity and information flow across multiple tiers of suppliers. Which strategy can help them address these challenges?A . Eliminating all lower-tier suppliersB . Implementing layering and tiering in the supply chain networkC . Increasing the use of subcontractorsD . Focusing on...

What are potential causes of transportation and/or pipeline breakdowns? (Select all that apply)A . Currency fluctuationsB . Law & disputesC . CorruptionD . Natural disastersE . Weather eventsView AnswerAnswer: A, C, D, E Explanation: Natural disasters and weather events disrupt transportation and facilities. Corruption can lead to inefficiencies and breakdowns...

What is the purpose of the "order picking" stage in storage and handling practices?A . To physically unload incoming transportationB . To assemble and prepare inventory for dispatch according to ordersC . To move goods received inventory to identifiable locationsD . To manage the quality control of incoming inventoryView AnswerAnswer:...

What is the practice of following precedence in national legal systems called in Common Law?A . Jurisprudence constantB . Rule of lawC . Judicial creativityD . Stare decisisView AnswerAnswer: D Explanation: In Common Law, the principle of following legal precedence is known as stare decisis. [P-119]