CPSM EXAM 2 TERMS UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

CPSM EXAM 2 TERMS UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS

Question:
1. EXW
Answer:
Exworks. Worst for Buyers. Good for all Modes. Buyer takes risk immediately.

Question:
2. FCA
Answer:
Free Carrier-Good for all modes. Main carriage not paid by seller.

Question:
3. FAS
Answer:
Free Alongside Ship. Water only. Main carriage not paid by seller.

Question:
4. FOB
Answer:
Free on Board. Water. Main carriage not paid by seller.

Question:
5. CFR
Answer:
Cost and freight. Water, Main carriage paid by seller.

Question:
6. CIF
Answer:
Cost and Insurance and Freight. Water. Main carriage paid by seller.

Question:
7. CPT
Answer:
Carriage Paid To. Good for all. Main carrriage paid by seller.

Question:
8. CIP
Answer:
Carraige and Insurance Paid To. All. Main carriage paid by seller.

Question:
9. DAF

,Answer:
Delivered at Frontier. All. Risk is at the border.

Question:
10. DES
Answer:
Delivered Ex Ship. Water. Seller at risk until named port of destination.

Question:
11. DEQ
Answer:
Delivered Ex Quay. Water. Seller at risk at wharf of port.

Question:
12. DDU
Answer:
Delivered Duty Unpaid. All. Named place of destination and buyer pays duties.

Question:
13. DDP
Answer:
Delivered Duty Paid. All. Best for Buyers. Door to Dorr.

Question:
14. Bill of Lading
Answer:
Cargo Receipt and contract between shipper and carrier. Export.

Question:
15. Transmittal Letter
Answer:
Record of all documents. Export.

Question:
16. Letter of Credit
Answer:
Document that assures seller that payment will be made. Export.

Question:
17. Certificate of Origin
Answer:
Statemenyt of where the goods were produced. Export.

Question:
18. Commercial Invoice

, Answer:
Bill of goods to the buyer. Export.

Question:
19. Dock Receipt
Answer:
Transfers responsibility between the international and domestic carrier.Export.

Question:
20. Delivery Instructions
Answer:
Directives for delivery. Export.

Question:
21. Insurance Certificate
Answer:
Proof in insurance while goods are in transit. Export.

Question:
22. Export Declaration
Answer:
Rrequired Government document to track exports for statistics. Export.

Question:
23. Consular invoice
Answer:
control document to identify goods shipped to other countries. Export.

Question:
24. Arrrival notice
Answer:
declares expected arrival. Import.

Question:
25. Delivery Order
Answer:
Authority from one carrier to a another inland carrier. Import.

Question:
26. Customs Entries
Answer:
Multiple Documents that describe shipped merchandise,origin and duties, Import.

Question:
27. Freight Release