Import And Export Documentation & Procedure Quiz
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You need to try this import and export documentation & procedure quiz today if you want to learn more about importing and exporting or even revise what you might already know and test how much you actually retain. Countries rely on importing many goods which they cannot produce and exporting other things that they do produce for the growth of the global economy and profit. Try your hand at this quiz and let all your friends know how you did as well!
- 1.
What is the meaning of export?
- A.
Any oral, written, electronic or visual disclosure, shipment, transfer outside of the country
- B.
Any oral, written, electronic or visual disclosure, shipment, transfer inside of the country
- C.
Any oral, written, electronic or visual disclosure, shipment, transfer inbound of the country
- D.
Any oral, written, electronic or visual disclosure, shipment, transfer within the country
Correct Answer
A. Any oral, written, electronic or visual disclosure, shipment, transfer outside of the countryExplanation
The correct answer is "Any oral, written, electronic or visual disclosure, shipment, transfer outside of the country". This definition of export refers to the act of sending goods, services, or information from one country to another. It encompasses various forms of communication and transportation, including oral, written, electronic, and visual means. The key aspect is that the transfer is taking place outside of the country of origin.Rate this question:
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- 2.
Malaysia's export partners are _______________
- A.
Japan, Indonesia, China and Bosnia
- B.
Thailand, Singapore, Bangladesh and France
- C.
US, New Zealand, Australia and Singapore
- D.
Singapore, China, US, Thailand and Japan
Correct Answer
D. Singapore, China, US, Thailand and JapanExplanation
The correct answer is Singapore, China, US, Thailand and Japan. This answer is correct because it includes some of Malaysia's major trading partners. Singapore and China are two of Malaysia's largest export destinations, while the US is also a significant trading partner. Thailand and Japan are also important export partners for Malaysia. Therefore, this answer includes the countries that contribute significantly to Malaysia's exports.Rate this question:
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- 3.
Malaysia mainly imports the following commodities :
- A.
E&E, Machinery, Tin, Rubber, Poultry, Palm Oil, Petroleum products
- B.
E&E, Grain, Iron and Steel, Mediterranean fruits
- C.
E& E, Machinery, Petroleum products, Plastics, Vehicles, Iron and Steel, Chemical
- D.
E&E, Machinery, Rice, Flour, Edible Oil, Oil and Gas, Chemical E&E, Machinery, Rice, Flour, Edible Oil, Oil and Gas, Chemical
Correct Answer
C. E& E, Machinery, Petroleum products, Plastics, Vehicles, Iron and Steel, ChemicalExplanation
Malaysia mainly imports a variety of commodities including electrical and electronic products (E&E), machinery, petroleum products, plastics, vehicles, iron and steel, and chemicals. These commodities are essential for the country's industries and economic development. E&E products and machinery are crucial for Malaysia's manufacturing sector, while petroleum products, plastics, vehicles, iron and steel, and chemicals are needed for various industries such as transportation, construction, and manufacturing. These imports contribute to Malaysia's economic growth and support its domestic industries.Rate this question:
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- 4.
_________________________can only be prepared after the pro forma invoice is accepted
- A.
Packing List
- B.
Commercial Invoice
- C.
Bill of Lading
- D.
Consular Invoice
Correct Answer
B. Commercial InvoiceExplanation
A commercial invoice is a document that provides a detailed description of the goods being shipped, including their value, quantity, and other relevant information. It is used for customs clearance and serves as a proof of sale between the buyer and seller. Since the commercial invoice contains all the necessary information about the goods, it can only be prepared after the pro forma invoice (a preliminary invoice sent to the buyer) is accepted. This ensures that the final invoice accurately reflects the agreed-upon terms and conditions of the sale.Rate this question:
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- 5.
- Which one of the following is a method for an exporter to get a contract?
- A.
Pro forma invoice
- B.
Purchase order
- C.
Sales contract
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
All of the options listed (pro forma invoice, purchase order, and sales contract) are methods that an exporter can use to secure a contract. A pro forma invoice is a preliminary bill of sale that outlines the terms and conditions of the sale. A purchase order is a document issued by the buyer to the seller, indicating the products or services to be purchased. A sales contract is a legally binding agreement between the exporter and the buyer, specifying the terms of the sale. Therefore, all of these options can be used by an exporter to obtain a contract.Rate this question:
- 6.
It is generally more detailed. More information than a standard The contents of each individual package are detailed It also indicated the legal gross and net The above statement refer to
- A.
Commercial Invoice
- B.
Certificate of Origin
- C.
Trade Documents
- D.
Packing List
Correct Answer
D. Packing ListExplanation
The given statement describes the characteristics of a packing list. A packing list provides more detailed information than a standard document and includes the contents of each individual package. It also indicates the legal gross and net weight of the items being shipped. Therefore, the correct answer is Packing List.Rate this question:
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- 7.
Which of the following is not a basic objective of documentation in foreign trade?
- A.
To assure that the exporter will receive the payment
- B.
To assure that the importer will receive the goods
- C.
To eliminate risk of non completion
- D.
None of the above
Correct Answer
D. None of the aboveExplanation
The given answer "none of the above" is correct because all of the options listed are basic objectives of documentation in foreign trade. Documentation is important in foreign trade to ensure that the exporter receives payment for the goods they have exported and to assure that the importer receives the goods they have purchased. Additionally, documentation helps to eliminate the risk of non-completion by providing a clear record of the transaction and the responsibilities of each party involved. Therefore, all of the objectives listed are valid and important in foreign trade documentation.Rate this question:
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- 8.
A shipping document indicating the details of the shipment and delivery of goods and their ownership is a ______________.
- A.
Bill of lading
- B.
Sight draft
- C.
Time draft
- D.
A letter of credit
Correct Answer
A. Bill of ladingExplanation
A bill of lading is a shipping document that provides detailed information about a shipment, including the goods being transported, their quantity, and the terms of delivery. It also serves as evidence of ownership of the goods and acts as a receipt for the shipper. This document is essential for both the shipper and the recipient to ensure the smooth and legal transfer of goods during transportation.Rate this question:
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- 9.
_________________________an international custom document commonly known as the merchandise passport that allows temporary importation into member countries without the payment of duties or value added taxes (VAT).
- A.
MITI
- B.
IATA
- C.
ATA Carnet
- D.
MLO
Correct Answer
C. ATA CarnetExplanation
An ATA Carnet is an international custom document commonly known as the merchandise passport that allows temporary importation into member countries without the payment of duties or value added taxes (VAT). It is a standardized document that simplifies the customs process for temporary imports and exports of goods, such as samples, professional equipment, and goods for trade shows or exhibitions. The ATA Carnet eliminates the need for multiple customs declarations and provides a guarantee to the customs authorities that any duties or taxes will be paid if the goods are not re-exported within the specified time frame.Rate this question:
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- 10.
L/C must meet the requirement of the parties involved_________________, ______________ and ___________________
- A.
Immigration, Custom and Government Ministry
- B.
The seller, The buyer and The bank
- C.
Retainer, Sales Executive and The Bank
- D.
The seller, The Bank and The Exporter
Correct Answer
B. The seller, The buyer and The bankExplanation
The correct answer is The seller, The buyer and The bank. In a letter of credit (L/C) transaction, these three parties are involved. The seller is the beneficiary of the L/C, the buyer is the applicant who requests the issuance of the L/C, and the bank is the issuing bank that guarantees payment to the seller once the required documents are presented.Rate this question:
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Current Version
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Mar 22, 2023Quiz Edited by
ProProfs Editorial Team -
Oct 16, 2011Quiz Created by
Hudamasrom
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