Quiz: How Much Do You Know About Freight Forwarding?

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  • 1/10 Questions

    What is the meaning of CFR?

    • Calls and Fares
    • Cost and Fair
    • Cost and Freight
    • Cost and Fare
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About This Quiz

Embark on a global journey through the intricate world of logistics with our "How Much Do You Know About Freight Forwarding?" quiz. Whether you're a seasoned industry expert or someone eager to unravel the mysteries of international trade, this quiz is your ticket to understanding the backbone of global commerce. If you are business or even individual selling products on eBay or sending goods to your family overseas, you might need the services of a freight forwarding company. They will transport your goods in several ways like by air, train, by road, and even by boat. But what do you really know about this business? Take our quiz and find out now.
Are you ready to decode the language of CFR and FOB, understand the nuances of Incoterms, and grasp the financial intricacies of ocean freight charges? Whether you're a supply chain enthusiast or just curious about the logistics behind your favorite products, this quiz promises to be both enlightening and entertaining. Challenge yourself, compete with friends, and unravel the layers of one of the most vital components of the global economy. The world of freight forwarding awaits – let the quiz begin!

Quiz: How Much Do You Know About Freight Forwarding? - Quiz

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  • 2. 

    What is the other term for International Commercial term?

    • Icoterm

    • Encoterm

    • Ecoterm

    • Incoterm

    Correct Answer
    A. Incoterm
    Explanation
    The correct answer is "Incoterm." Incoterm is the abbreviation for International Commercial term, which refers to a set of standardized trade terms used in international transactions. These terms define the rights and obligations of the buyer and seller regarding the delivery of goods, transportation costs, and the transfer of risk. Incoterms are widely recognized and used by businesses around the world to ensure clarity and consistency in international trade agreements.

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  • 3. 

    What is FOB?

    • Free on Board

    • Fare on board

    • Food on board

    • Far on Board

    Correct Answer
    A. Free on Board
    Explanation
    FOB stands for "Free on Board" and is a term used in international trade to indicate that the seller is responsible for the goods until they are loaded onto the vessel for shipment. Once the goods are on board, the responsibility transfers to the buyer. This term is commonly used in contracts and shipping documents to determine who bears the risk and cost of transportation.

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  • 4. 

    What did freight forwarders initially do?

    • They contacted receivers to warn them about the goods' arrival.

    • They inspect goods.

    • They arranged for carriage by contracting with various carriers.

    • They used to pack goods.

    Correct Answer
    A. They arranged for carriage by contracting with various carriers.
    Explanation
    Freight forwarders initially arranged for carriage by contracting with various carriers. This means that they were responsible for coordinating and organizing the transportation of goods by entering into agreements with different carriers such as shipping lines, airlines, trucking companies, or rail operators. They would negotiate the terms and conditions of transportation, including the rates, routes, and schedules, to ensure that the goods were transported efficiently and effectively to their destination.

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  • 5. 

    What is the name of the first freight forwarding company in the world?

    • Thomas Meadow Enterprises

    • Thomas meadow and corporation

    • Thomas Meadow and Company

    • Meedows and Co

    Correct Answer
    A. Thomas Meadow and Company
    Explanation
    Thomas Meadow and Company, established in 1835 in London, England, earns the distinction of being recognized as the world's first freight forwarding company. This pioneering entity set the stage for the global movement of goods, establishing a legacy in the realm of logistics.

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  • 6. 

    Where do people normally pay for the Ocean freight charges?

    • At the port of Discharge

    • At departure

    • At customs

    • Anywhere they want to

    Correct Answer
    A. At the port of Discharge
    Explanation
    People normally pay for the ocean freight charges at the port of discharge. This is because the port of discharge is the final destination where the goods are unloaded from the ship and customs clearance is completed. At this point, the shipping company or the freight forwarder will present the invoice for the freight charges to the consignee or the importer, who is responsible for paying the charges before the goods can be released. Paying at the port of discharge ensures that all necessary fees and charges are settled before taking possession of the goods.

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  • 7. 

    In what year was the first forwarding company created?

    • 1836

    • 1840

    • 1842

    • 1850

    Correct Answer
    A. 1836
    Explanation
    The first forwarding company made its debut in 1836. This marks a significant milestone in the evolution of logistics and transportation, laying the groundwork for the freight forwarding industry as we know it today.

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  • 8. 

    Which country is known to have started with the freight forwarding business?

    • England

    • The USA

    • France

    • Germany

    Correct Answer
    A. England
    Explanation
    England is known to have started with the freight forwarding business. This can be attributed to England's historical role as a major maritime power and its early development of trade routes and infrastructure. The country's ports and shipping industry played a crucial role in facilitating the movement of goods and establishing the foundations of modern freight forwarding practices. Additionally, England's colonial expansion further contributed to the growth of its freight forwarding industry, as it required efficient logistics and transportation systems to support trade with its colonies.

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  • 9. 

    Who normally pays for the Ocean Freight Charges?

    • The agent responsible for handling the goods

    • The Client

    • The Exporter

    • The Importer

    Correct Answer
    A. The Importer
    Explanation
    The importer normally pays for the ocean freight charges. When goods are being transported via ocean freight, it is the responsibility of the importer to cover the costs associated with shipping the goods from the exporter's location to the importer's location. This includes paying for the ocean freight charges, which are the fees incurred for transporting the goods by sea. The importer is responsible for arranging the shipment and paying for all related costs, including the ocean freight charges.

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  • 10. 

    How is the transferring document fee also called?

    • Flight Charges

    • Flying charges

    • Ocean freight Charges

    • Transferring charges

    Correct Answer
    A. Ocean freight Charges
    Explanation
    The transferring document fee is also called ocean freight charges. This refers to the cost associated with transporting goods by sea. It includes various expenses such as loading and unloading fees, customs documentation, and insurance. This term specifically relates to the transportation of goods through maritime routes and is different from flight charges or transferring charges, which may pertain to other modes of transportation.

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  • Current Version
  • Jan 10, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 14, 2019
    Quiz Created by
    Anouchka
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