L6M10 exam

What are the two principles upon which international trade law, including international arbitration, is based?A . National recognition and legal independenceB . Freedom of contract and national sovereigntyC . Freedom of contract and international recognitionD . National sovereignty and international recognitionView AnswerAnswer: C Explanation: International trade law is based on...

What is the key enabler for global sourcing, global production, global distribution, transportation, and delivery in logistics and supply chain management?A . Geographical locationB . Repetitive transactionsC . Information and Communications Technology (ICT)D . Organizational affiliationsView AnswerAnswer: C Explanation: ICT (Information and Communications Technology) is essential for enabling seamless global...

What should John, an international trade lawyer, consider when deciding whether to rely on precedent in an international trade dispute?A . He should rely on precedent regardless of the case's uniqueness.B . He should disregard precedent entirely to encourage creativity.C . He should consider whether the case involves entirely new...

An organization with a cost leadership strategy is considering choosing a supply partner. What is the trade-off that this organization needs to consider?A . A trade-off between cost margins and compensation claimsB . A trade-off between cost efficiency and responsivenessC . A trade-off between digital platforms and Lean processesD ....

What historical communication method did international shipping companies use to communicate with their ships?A . TelegramB . FaxC . Electronic data interchange (EDI)D . InternetView AnswerAnswer: A Explanation: Historically, telegram was used for ship-to-shore communication before modern digital solutions were developed. [P-98]

Which of the following methods help reduce price and currency fluctuations in a global supply chain? (Select all that apply)A . Currency choiceB . Supply chain optimizationC . Just-in-time inventoryD . Currency optionsView AnswerAnswer: A, D Explanation: There are five methods for reducing price and currency fluctuations in a global...

What is the primary challenge addressed by a global logistics strategy?A . Navigating the world trade system effectivelyB . Managing and upgrading logistics and distribution channelsC . Competing in the global marketD . Maximizing profitability through cost-effective execution of ordersView AnswerAnswer: D Explanation: A global logistics strategy focuses on delivering...

Which of the following factors may influence plant performance within the supply chain network? (Select all that apply)A . Employee attitudes and mentalityB . Plant structure and infrastructureC . Geographic locationD . Standardization of operationsE . Trade-offs between different performance metricsView AnswerAnswer: A, B, C, E Explanation: Geographic location: Can...

Under what conditions does the United Nations Convention on Contracts for the International Sale of Goods (CISG) typically apply to international sales contracts?A . Only when both transacting parties are residents of contracting countriesB . When the contract is exclusively for the sale of servicesC . When the transacting parties...

A multinational technology company operates in a highly competitive industry with rapidly changing technology. They release new product versions frequently, and their products have short lifecycles. Which of the following global logistics strategies would be most suitable for this company?A . Dynamic and flexible supply chain networkB . Centralized inventory...