NIGP-CPP BRIDGE EXAM 2024 QUESTIONS WITH REVISED AND UPDATED ANSWERS

NIGP-CPP BRIDGE EXAM 2024 QUESTIONS WITH REVISED AND UPDATED ANSWERS CIP (Carriage and Insurance Paid To) - Answer-The seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. 'The seller also contracts for insurance cover against the buyer's risk of loss of or damage to the goods during the carriage. The buyer should note that under CIP the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements." DAT (Delivered at Terminal) - Answer-Seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination. "Terminal" includes a place, whether covered or not, such as a quay, warehouse, container yard or road, rail or air cargo terminal. The seller bears all risks involved in bringing the goods to and unloading them at the terminal at the named port or place of destination. DAP (Delivered at Place) - Answer-Seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination. The seller bears all risks involved in bringing the goods to the named place. DDP (Delivered Duty Paid) - Answer-seller delivers the goods when the goods are placed at the disposal of the buyer, cleared for import on the arriving means of transport ready for unloading at the named place of destination. The seller bears all the costs and risks involved in bringing the goods to the place of destination and has an obligation to clear the goods not only for export but also for import, to pay any duty for both export and import and to carry out all customs formalities. Logistics management - Answer-The discipline responsible for the movement, routing, distribution, transportation, and coordination of activities that apply to goods delivery and/or service performance delivery mode / method - Answer-Method of delivery Carload - Answer-the minimum weight, as defined by law, of a shipment entitled to a reduced freight rate. The shipment amount that fills a freight car or truck. A load that fills the maximum capacity of a transporting unit. Truckload - Answer-A quantity of freight to which truckload rates apply. Indicates full truckload as opposed to LT less than truckload shipment. Motor carriers will charge less per CWT if a shipper is moving full truckloads Third party - Answer-A contractor or supplier who ultimately receives monetary payment (grant funds) from the grantee as a result of rendering contractual goods or services in satisfaction of a contract that was funded by the grant. latent damage - Answer-occurs when a device is partially degraded during the manufacturing and handling yet it meets product test specifications and is ultimately shipped to a customer demurrage - Answer-Fee charged by a carrier against a consignee, consignor, or other responsible party to compensate for the detention of the carrier's equipment in excess of allowable free time for loading, unloading, reconsigning, or stopping in transit. Dunnage - Answer-loose wood, matting, or similar material used to keep a cargo in position in a ship's hold. FOB (free on board) - Answer-Term in international commercial law specifying at what point respective obligations, costs, and risks involved in the delivery of good shift from the seller to the buyer under the incoterms standard published by the International Chamber of Commerce. 3PL - Answer-Third party logistics provider - A company who performs logistics processes for other companies, both physical goods and information/financial flows. bill of lading - Answer-legally required document that parties involved must complete before a shipment can be allowed to deliver its goods. Protection for both the carrier and the shipper since it contains a detailed description for the exact weight of the shipment, its exact value, its types, the quantity, and the destination of the materials being transported. The carrier will be the one to issue the document that will be submitted to the shipper of the goods. capital goods - Answer-long-lived goods that are themselves produced and are used to produce other goods and services, but are not consumed in the production process Closed-loop supply chain - Answer-A supply chain that integrates forward logistics with reverse logistics, thereby focusing on the complete chain of operations from the birth to the death of a product. Recycle all components. Decentralized warehouse - Answer-a method of maintaining several smaller warehouses spread out to different areas in order to better serve different markets of stocking different products. Lead time - Answer-time interval between ordering and receiving the order influence - Answer-having an effect or impact on the actions, behavior, opinions, etc., of another or others DISC - Answer-brand of assessment tool that identifies individuals' behavioral patterns in terms of dominance, influence, steadiness, and conscientiousness cause - Answer-something that produces an effect or result or make something happen symptom - Answer-the sign or existence of something else McGregor's Theory X - Answer-the assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to perform. Managers must organize all elements of the work, direct employee efforts, and control their actions to fit the needs of the organization. McGregor's Theory Y - Answer-The assumption that employees are internally motivated, creative, enjoy work, seek responsibility, and can exercise self-direction without a reward.