EC1

75問 • 2年前

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It is a relative price of one currency expressed in terms of another currency (or group of currencies). A. Foreign currency B. Exchange rate C. Currency exchange D. Monetary exchange

It refers to a place where foreign currency is purchased and sold. A. foreign exchange market B. foreign currency market C. international exchange market D. international currency market

Which of the following does not describe an exchange rate? A. The value of one country's currency in terms of another currency. B.The number of units of a given currency that can be purchased for one unit of another currency. C. It expresses the relationship of one currency to another currency. D. Exchange rate does not vary from country to country.

Indirect quotation is one of the types of quotation as commonly practiced in the world currency markets. Which of the following is a case of indirect quotation? A. Quoting all exchange rates (with certain exceptions) per U.S. dollar. B. Using the price of other currencies in terms of the dealer's home currency. C. Swiss francs against Japanese yen D. Hong Kong dollar against Colombian pesos.

Following are some reasons for individual companies or governments to enter into the foreign exchange market as buyers or sellers of foreign currencies, except - A. Foreign travel and purchase of foreign stocks and bonds. B. to stabilize the national currency, that is, to reduce violent fluctuations in exchange rates without destroying the viability and freedom of the foreign exchange market. C. Speculation, that is, purchase of foreign currency at a low rate with the hope to sell it at a profit. D. The existence of foreign exchange risks in international trade.

The risk associated with export- import transactions is that the exchange rate might change between the date when the export contract was made and the date of payment (the settlement date), which is often sixty to ninety days after contract or shipment of the merchandise. Which of the following may not be a good practice of export-import companies to protect themselves against unanticipated changes in exchange rates? A. Hedging receipts against payables C. Invoicing in One's Own Currency B. Use hedging for individual transactions D. Acceleration or delay of payments

Which of the following can be grouped into a type of financing by the exporter? I. Open account II. Consignment contract III. Advance payment IV. Progress payment A. I and Il B. Il and III C. I and III D. Ill and IV

Which of the following can be grouped into a type of financing by the importer? I. Open account II. Consignment contract III. Advance payment IV. Progress payment B. Il and III B. I and Il C. I and III D. Ill and IV

The following are sources for equity funding. Which equity source are known as the invisible capitalists and are willing to provided capital for small business? A. Family and friends C. Venture capitalists B. Business angels D. None of the above.

For nia capa ed head oure tel surene, the oloing aire toms of niemal sources or capros which is not included? A. Money in saving accounts, certificates of deposit, and other personal accounts B. Money in stocks, bonds, and money market funds C. Immediate family and friends D. None of the above.

What countertrade is not? A. It refers to any commercial arrangement in which sellers or exporters are required to accept in partial or total settlement of their deliveries, a supply of products from the importing country. B. It is a general term for an international transaction that is premised on some form of reciprocity in which goods or services are exchanged for other goods or services rather than for hard currency. C. It provides a mechanism for countries with limited access to liquid funds to exchange goods and services with other nations in the form of barter, counterpurchase and offset. D. It does not involve logistical issues, guaranteed lower costs and lesser negotiations.

The following are deemed benefits of countertrade for buyers, except - A. Transfer of technology C. Maintenance of stable prices for exports B. Increased sales opportunities D. Alleviating balance of payments difficultiesThe following are deemed benefits of countertrade for buyers

In the Philippine government setting, countertrade is a supplemental trade tool in connection with the transactions involving the importation or procurement of foreign capital equipment, machinery, products, goods and services of at least US$1 million and above. What is the Philippine Countertrade Policy? A. Executive Order No. 1, series 1993 C. Executive Order No. 120, series 1993 B. Executive Order No. 156, series 1993 D. Executive Order No. 20, series 1993

Who is the sole implementing agency of the Philippine countertrade Program? A. Philippine International Trading Corporation C. National Economic and Development Authority B. Department of Trade and Industry D. Board of Investment

The rapid growth and expansion in global trade cannot be sustained without efficient and timely payment arrangements. The ideal payment method is one that protects the contending interests of both sellers and buyers. What payment method is described in a transaction wherein a trade credit is extended by an exporter having contractual relationship with the importer and that payment is to be made within an agreed period of time? A. Consignment sales C. Documentary collection B. Open account arrangement D. Documentary Letter of Credit

It is a type of documentary collection payment mode the exporter draws a draft on the foreign buyer (drawee) through a foreign bank (collecting bank) that receives the collection documents from the exporter's remitting bank. In this type of mode of payment, the buyer does not receive the documents and thus will not obtain possession of the goods until payment is made to the collecting bank. A. Direct collection C. Document against payment B. Advance payment D. Document against acceptanceIt is a type of documentary collection payment mode the exporter draws a draft on the foreign buyer (drawee) through a foreign bank (collecting bank) that receives the collection documents from the exporter's remitting bank. In this type of mode of payment, the buyer does not receive the documents and thus will not obtain possession of the goods until payment is made to the collecting bank. A. Direct collection C. Document against payment B. Advance payment D. Document against acceptance

Problems associated with consignment sales as mode of payment for import excludes A. Delays in payment C. Cost of returning merchandise B. Risk of nonpayment D. importer's eagerness to sell the goods

This payment method is considered as the most secured method of payment as it is a legally enforceable commitment by a bank to pay money upon the performance of certain conditions, stipulated therein, to the seller (exporter or beneficiary) for the account of the buyer (importer or applicant). A. Consignment sales C. Documentary collection B. Open account arrangement D. Documentary Letter of Credit

A type of Letter of Credit (L/C) which cannot be amended or cancelled before the expiry date without the express consent of all parties to the credit. A. Revocable L/C B. Irrevocable L/C C. Confirmed L/C D. Unconfirmed L/C

This method of payment requires the buyer to pay before shipment is effected in cases in which the creditworthiness of the overseas customer is poor or unknown andor the policalleconomic conditions of the buyer's country are A. Transferrable L/C C. Deferred Payment B. Back-to back L/C D. Advance Payment

What are the reasons for international trade? A. Unequal distribution of resources and specialization B. Regionalism and protectionism C. Expansion and development D. Open market economy and freer trade

Goods brought into the country. A. Importation B. Entry C. Imports D. Admission

Goods sent to other countries. A. Exportation B. Exports C. Re-exports D. Re-exportation

Why do countries specialize in certain goods when they trade? A. To carry out their ability to produce more of a given product than someone else. B. To achieve the ability of a country to produce a good at a lower opportunity cost. C. To avoid excess exports D. To concentrate their efforts on producing a few goods and services instead of everything they need

An international trade that is devoid of government intervention where trade takes place without any restrictions between different countries. A. Domestic Trade B. Customs Union C. Free Trade D. Restricted trade

Taxes on imported goods are referred to as A. Levies B. Tariffs C. Duties D. Tolls

The following are forms of non-tariff barriers, except A. 3% duty on com B. Quotas/quantitative restrictions D. Subsidies

One of the major contributory factors to the expanded connections and the business relationship among countries. A. The establishment of World Trade Organization B. The institution of free trade. C. The coming of globalization. D. The internationalization of businesses.

The purchasing and selling of goods, commodities and services done across national borders. A. International Economics C. International Trade B. International Business D. International Finance

What could be the effect of high tariff to the country's economy? A. Gives protection to imported goods sold in the domestic market of the importing country. B. Increases the price of imported goods, making them more expensive to customers, thus protect the domestic industry of the importing country. C. A and B are true D. A and B are false.

Foreign exchange trading is done in foreign exchange market. It is not limited to one specific location and may exist between. A. Commercial banks and their customers B. Among commercial banks themselves C. Both A and B. D. Neither A nor B.

What makes international market selling different from domestic selling? A. Product specialization C. Market segmentation D. Uncontrollable environmental forces

Screening the political forces of the potential market is important to determine if it is politically stable and favors open trade policies. Political instability may lead to the following conditions excluding C. Avoidance of measures that restrict imports A. Takeover of property B. Disruption of supplies and/or sales D. Change of rules and regulations

visit to the markets that appear to be a promising market is termed C. Field trip D. Expositions

Intermational market assessment requires a series of market screening. The preliminary screening establishes the basic need and potential for the company's products or services in foreign markets. C. The first statement is true, the second is false. A. Both statements are true. D. The first statement is false, the second is true.

Screening the financial and economic conditions of the targeted market tends the aspiring exporters to look into the trends in inflation, interest rates, exchange rate stability and availability of credit and financing. Countries with high inflation rates may limit the volume of imports by restricting the availability of foreign exchange. A. Both statements are true. C. The first statement is true, the second is false. B. Both statements are false. D. The first statement is false, the second is true.

International Market Research must include screening of the legal forces of the identified market for the product or service taking into consideration the product restrictions, high import tariffs, restrictive quotas, import licenses, special taxes on imports, product labelling and other restrictive trade laws. As a whole, these A. Are limits on profit remittance and/or ownership C. Are taxes and price controls B. Are entry barriers D. Are protection of intellectual property rights

The customs, religion and values of the product end-user must also be considered as they may have an adverse effect on the purchase or consumption of certain products, hence required to assess the A. Financial and economic forces C. Sociocultural forces B. Political and legal forces D. Competitive forces

The timely movement of products from the sources of supply to the point of manufacture, assembly or distribution is called A. Materials inventory C. Materials handling B. Materials distribution D. Materials management

In logistics management, the movement of a firm's product to consumers is referred to as A. Outbound logistics C. Either A or B B. Physical distribution D. Neither A nor B

The primary purpose of insurance in international trade includes A. To adequately control the forces of nature B. To reduce the financial burden of losses arising from the movement of goods over long distance. C. To avoid the human failure affecting the safe navigation of goods. D. None of the above.

A risk in foreign trade resulting from government intervention like imposing severe restrictions on export-import trade is called C. Foreign exchange risks B. Foreign credit risks D. Transportation risks

One marked disadvantage of international trade is the growing dependence on imports for strategic industries that affect national security. Also, new companies find it much harder to grow if they have to compete against giant foreign firms. A. Both statements are true. C. The first statement is true, the second is false. B. Both statements are false. D. The first statement is false, the second is true.

Except for one, the following are the dynamic gains from trade. A. Use of country's resources more efficiently. B. Lesser potential gains in industries decreasing returns to scale. C. Increase the quantity and quality of the goods consumed. D. Enhance competition in a country's domestic market.

International trade is based on the notion that: A. Different currencies are obstacle to international trade. B. A country's exports should always exceed its imports. C. Goods are more mobile internationally than are resources. D. Resources are more mobile internationally than are goods.

Importance of International trade to the global economy are the following except C. Economies of Scale A. Comparative Advantage D. Underemployment

The foundation of international business and regarded as the simplest and most commonly used method of international business. C. Imports and Exports A. Licensing B. Franchising D. Outsourcing and Offshoring

A business strategy that involves selling products and services in different foreign markets without changing the characteristics of the product/service to accommodate the cultural norms or customs of the various markets. A. Multi-Domestic C. Multi-Lingual B. Multinational D. Multi-Cultural

The exclusive rights given to persons over the use of their creation for a given period of time. A. Intellectual property rights B. Copyrights C. Patents D. Trademarks

A proprietary right granted by the government to inventors of new and useful products including for the manufacture (or methods of use) of new or existing products for the promotion of innovative activity, dissemination of technical knowledge, and facilitation of transfer of technology. A. Intellectual property rights B. Copyrights C. Patents D. Trademarks

It refers to a word, name, symbol, or device, or any combination of these, used by a manufacturer or seller of goods to identify and distinguish the particular manufacturer's/seller's goods from goods made or sold by others A. Intellectual property rights B. Copyrights C. Patents D. Trademarks

What is the intellectual property code of the Philippines? A. Republic Act No. 8752 B. Republic Act No. 8751 C. Republic Act No. 8293 D. Republic Act No. 8800

A method used to levy tariffs in which the duty levied is a percentage of the value of the imported product. A. Ad valorem duty B. Specific duty C. Compound duty D. Mixed Duty

A duty rate is based on the physical unit or weight or other quantity. Ad valorem duty B. Specific duty C. Compound duty D. Mixed Duty

Imports into the Philippines are classified into four types. What type of importation is described when the subject goods may be entered into the Philippines without the need for clearances, permits or licenses? A. Free importation. C. Prohibited importation B. Regulated importation D. Restricted importation

Where the importation involved written or printed goods in any form containing any matter advocating or inciting treason, rebellion, insurrection, or sedition against the government of the Philippines, such goods are deemed to be of what importation type? A. Free importation. B. Regulated importation C. Prohibited importation D. Restricted importation

Lottery and sweepstakes tickets imported by PCSO fall under what type of importation? A. Free importation. C. Prohibited importation D. Restricted importation

Goods imported in violation of the Intellectual Property Code of the Philippines are deemed to be of what type of importation? A. Free importation. C. Prohibited importation B. Regulated importation D. Restricted importation

A type of import restriction that permits a specified quantity of merchandise to be entered or withdrawn for consumption in the Philippines at a reduced rate during a specified period. The tariff rates on these imports are raised after a certain quantity has been imported. A. Absolute quotas B. Tariff quotas C. Tariff restriction D. Absolute regulation

It is a apecial arrangement by developed nations, agreed under the United Nations, to provide special treatment for iports hom developing nations to encourage their economic growth. The Philippines is one of the country's beneficiaries of this arrangement. A Free Trade Agreement C. Generalized System of Preferences B. Preferential Trade Arrangement D. ASEAN Trade in Goods Agreement

They are persons who act as agents for importers for activites involving transactions with the customs service concerning (1) the entry and admissibilly of merchandise. (2) its classification and valuation, and (3) the payment of duties and other charges assessed by customs or the refund or drawback thereof. A Legietics Providers C. Customs Officers B. Freight Forwarders D. Customs Brokers

Under the Philppines regulations on Free trade Zones, which of the following is incorrect? A Freetrade zones are certain designated areas, usually located in or near a customs port of entry, where merchandise admitted is not subject to a tariff until it is entered into the customs territory. B. The FTs are managed and supervised directly by the Bureau of Customs C. Foreign goods brought into the FTZ may be stored, or otherwise manipulated or manufactured. D. The FTZs are legally considered to be outside the customs territory of a country.

These are secured, goverment approved warehouse facilties in which imported goods are stored or manipulated without payment of duty until they are removed and entered for consumption. A Customs Bonded Warehouses C. Shipyard B. Container Yard Facilities D. Public Warehouses

One of the most important import decisions is the selection of the proper product that serves the market need. H you are the import manager of a certain company, what will you consider in finding the right product if you want to quickly capture a substantial share of the domestic market? A. Unique Products C. Products of Better Quality B. Less Expensive Products D. Availability

What makes international market selling different from domestic selling? C. Product specialization C. Market segmentation D. Project sustainability D. Uncontrollable environmental forces

Screening the political forces of the potential market is important to determine if it is politically stable and favors open trade policies. Political instability may lead to the following conditions excluding C. Takeover of property C. Avoidance of measures that restrict imports D. Disruption of supplies and/or sales D. Change of rules and regulations

A visit to the markets that appear to be a promising market is termed A. Trade missions C. Trade fairs B. Field trip D. Expositions

International market assessment requires a series of market screening. The preliminary screening establishes the basic need and potential for the company's products or services in foreign markets. A. . Both statements are true. C. The first statement is true, the second is false. B. Both statements are false. D. The first statement is false, the second is true.

Screening the financial and economic conditions of the targeted market tends the aspiring exporters to look into the trends in inflation, interest rates, exchange rate stability and availability of credit and financing. Countries with high inflation rates may limit the volume of imports by restricting the availability of foreign exchange. A. . Both statements are true. C. The first statement is true, the second is false. D. Both statements are false. D. The first statement is false, the second is true.

International Market Research must include screening of the legal forces of the identified market for the product or service taking into consideration the product restrictions, high import tariffs, restrictive quotas, import licenses, special taxes on imports, product labelling and other restrictive trade laws. As a whole, these C. Are limits on profit remittance and/or ownership C. Are taxes and price controls B. Are entry barriers D. Are protection of intellectual property rights

The customs, religion and values of the product end-user must also be considered as they may have an adverse effeet on the purchase or consumption of certain products, hence required to assess the A. Finical an eganomic torces C. Sociocultural forces D. Competitive forces B. Political and legal forces

The timely movement of products from the sources of supply to the point of manufacture, assembly or distribution A. Materials inventory C. Materials handling B. Materials distribution D. Materials management

In logistics management, the movement of a firm's product to consumers is referred to as A. Outbound logistics D. Physical distribution C. Either A or B D. Neither A nor B

The primary purpose of insurance in international trade includes E. To adequately control the forces of nature F. To reduce the financial burden of losses arising from the movement of goods over long distance. G. To avoid the human failure affecting the safe navigation of goods. H. None of the above.

A risk in foreign trade resulting from government intervention like imposing severe restrictions on export-import trade is called A. Political risks C. Foreign exchange risks B. Foreign credit risks D. Transportation risks

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