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Exam 14: Exporting, Importing, and Countertrade

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Question 51

True/False

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Export management companies (EMCs)start exporting operations for a firm with the understanding that the firm will take over operations after they are well established.

A) True
B) False

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Question 52

Multiple Choice

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Johnson Goods,a U.S.company is exporting to Watanabe Trading,a Japanese importer.The two parties agree on a draft,but Watanabe Trading wants it to be a draft that allows for a delay in payment.Watanabe Trading is asking for a(n)

A) sight draft.
B) time draft.
C) bill of lading.
D) counterpurchase.
E) offset.

F) All of the above
G) B) and E)

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Question 53

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Which of the following is issued to an exporter by a common carrier transporting the merchandise and serves as a receipt,a contract,and a document of title?

In the modern era,countertrade arose in the 1960s as a way to purchase imports for

Japan's great trading houses are referred to as

Omar Arroyo,an international trade attorney,provides free consultations to small businesses on export-related matters as part of a nationwide group coordinated by the Small Business Association.Omar is a member of the group called the

How does the Small Business Administration (SBA)help potential exporters.D.C.Through its Service Corps of Retired Executives (SCORE)program,the SBA oversees some 11,500 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.The SBA also coordinates the Export Legal Assistance Network (ELAN),a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters.

What is the Ex-Im Bank? What is its mission and how does it pursue it?

For U.S.firms,the most comprehensive source of information on export opportunities is the U.S.Department of Commerce.

In domestic trade transactions,a buyer can often obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay.

A bill of lading can function as collateral against which funds are advanced to the exporter by its local bank before final payment by the importer.

Exporting is nearly always a way to increase the revenue and profit base of a company because

Countertrade's main attraction is that it can give a firm a way to finance an export deal when other means are not available.

Which of the following is true of barter as a countertrade arrangement?

Exporting is often not an end in itself,but merely a step on the road toward establishment of foreign production.

Which of the following organizations runs the Service Corps of Retired Executives (SCORE) program?

Due to the complexity and diversity of foreign markets,firms sometimes hesitate to seek export opportunities.These firms can best overcome ignorance by

Florida Jetskis,based in Miami,wants to export,but,being a small third generation family business is cautious,particularly with respect to financial risk.The CEO,Armand Millard is contemplating the firm's approach to exporting.Which of the following is a strategic step that you would advise Florida Jetskis to take to increase its probability of exporting successfully?

In international commerce,a person or business initiating a draft is known as the drafter and the party to whom the draft is presented is known as the draftee.

In the United States,export credit insurance is provided by the