Do You Have Basic Idea About Freight Forwarding?
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What is the other term for International Commercial term?
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Incoterm
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Ecoterm
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Icoterm
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Encoterm
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Freight forwarding is a very dynamic industry today. It concerns small to bi corporations and even your small packages that you are trying to send to another part of the world. And even though you might be happy when you receive goods you've ordered from China, do you have any ideas about freight forwarding? Take our quiz and find out See morenow.
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What is CFR?
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Cost of Goods
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Cost to Hire
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Cost and Freight
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Cost of Fire
Correct Answer
A. Cost and FreightExplanation
CFR stands for Cost and Freight. It is a trade term used in international shipping to indicate that the seller is responsible for the cost of the goods and the freight charges to transport them to a named destination port. This means that the seller covers the cost of the goods and their transportation to the agreed port, while the buyer is responsible for any additional costs, such as insurance and customs duties, as well as the risk of loss or damage to the goods after they are loaded onto the vessel.Rate this question:
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- 3.
How many employees does the FFFAI in India employ?
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Over 40,000 people
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Over 50,000 people
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Over 110,000 people
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Over 120,000 people
Correct Answer
A. Over 110,000 peopleExplanation
The FFFAI in India employs over 110,000 people. This indicates that the organization has a large workforce in India, which suggests that it is a significant entity in terms of employment.Rate this question:
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- 4.
How many corporate members are part of BIFA?
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1500
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1800
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2000
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2,200
Correct Answer
A. 1500Explanation
BIFA, or the British International Freight Association, has 1500 corporate members. These corporate members are part of BIFA, indicating that they are associated with the organization in some capacity. The other options of 1800, 2000, and 2,200 are not the correct number of corporate members for BIFA.Rate this question:
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- 5.
What is the BIFA in the UK?
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The British International Aviation
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The Brits Intel Association
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The British International Freight Association
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The Bar Intel Freight Association
Correct Answer
A. The British International Freight AssociationExplanation
The correct answer is The British International Freight Association. BIFA is an organization in the UK that represents the interests of the international freight forwarding and logistics industry. They provide support and guidance to their members, promote best practices, and advocate for the industry.Rate this question:
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- 6.
When was the first freight forwarding company established?
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In 1830
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In 1832
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In 1836
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In 1840
Correct Answer
A. In 1836Explanation
In 1836, the first freight forwarding company was established. This suggests that prior to this year, there were no formal companies dedicated to the transportation and logistics of goods. The establishment of this company marked a significant development in the field of freight forwarding, indicating the recognition of the need for specialized services in the transportation industry.Rate this question:
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- 7.
How is the transferring document fee called?
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Mailing charging
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Ocean freight charges
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Flight charges
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Mail charges
Correct Answer
A. Ocean freight chargesExplanation
The transferring document fee for transporting goods by sea is commonly known as "ocean freight charges". This fee covers the cost of handling, documentation, and transportation of goods through ocean carriers. It is a standard practice in international trade to include these charges as part of the overall cost of shipping goods via sea.Rate this question:
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- 8.
What is the CFR?
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Free on Board
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Free if charge
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Vat Free
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Tax Free
Correct Answer
A. Free on BoardExplanation
The correct answer is Free on Board. Free on Board (FOB) is a term used in international trade to indicate that the seller is responsible for the goods until they are loaded onto the transportation vessel. Once the goods are loaded, the buyer assumes the responsibility and any risk associated with the shipment. This term is commonly used in shipping contracts to determine the point at which ownership and liability transfer from the seller to the buyer.Rate this question:
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- 9.
How many freight forwarding companies does the PIFFA has in Pakistan?
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200
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700
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600
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More than 500
Correct Answer
A. More than 500Explanation
The Pakistan International Freight Forwarders Association (PIFFA) has more than 500 freight forwarding companies in Pakistan.Rate this question:
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- 10.
When was the CIFFA established in Canada?
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In 1940
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In 1942
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In 1950
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In 1948
Correct Answer
A. In 1948Explanation
The CIFFA (Canadian International Freight Forwarders Association) was established in Canada in 1948.Rate this question:
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Quiz Review Timeline (Updated): Mar 18, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 18, 2023Quiz Edited by
ProProfs Editorial Team -
Aug 14, 2019Quiz Created by
Anouchka
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