CH 9 LSCM 4360 EXAM QUESTIONS WITH VERIFIED SOLUTIONS LATEST UPDATE 2026
The commercial invoice - Answers is sent with the shipment, it is separate from a letter of credit, can
be issued in any currency, and it has no connection to an export license.
A government will use a(n) _____ to attempt to control the export of national treasures or antiques. -
Answers export license
The United States export policy is mostly concerned about - Answers keeping some military
technologies away from some countries.
In 1996, the _____ was revised to a U.S. export policy stating that "everything is authorized unless it is
specifically prohibited." - Answers EAR - Export Administration Regulations
A product not on the Commerce Control List, or whose Export Control Classification Number does not
call for an export license, is classified as - Answers EAR99
Which of the following pieces of information does an international commercial invoice contain? -
Answers Incoterms
weight and measurements of the product
a precise description of the product
terms of payment
The pro forma invoice - Answers must be written with extreme care to avoid discrepancies between
the letter of credit and the commercial invoice.
Even when validated export licenses are not required, exporters are responsible for determining if
there are "red flags" in a transaction, such as - Answers a cash sale for a product generally purchased
on credit terms.
the product is sold to a company that does not appear to be in the exporter's main line of business.
the importer appears on the BIS's "List of Specially Designated Nationals."
The sentence "This merchandise licensed by U.S. for ultimate destination [country]. Diversion contrary
to U.S. Law prohibited" is - Answers the Destination Control Statement
Which of the following is not a reason for a country to require specific import documents? - Answers
to assess the correct income tax.
In addition to being a contract of carriage and a receipt for the goods, an ocean bill of lading is -
Answers a certificate of title.
ocean bill of lading
Which of the following regulate shipments of dangerous goods by ocean? - Answers the International
Maritime Dangerous Goods Code
Export taxes - Answers may be used when the shipped goods are minerals in short supply, or when
the product has been heavily subsidized by the government
Under two of Incoterms® Rules, ________ has to provide the importer with a Certificate of Insurance.
- Answers the exporter
CIP and CIF
In most cases, an intermodal bill of lading - Answers is a straight bill of lading
An air waybill - Answers is always straight and non-negotiable
EDI - Answers Electronic Data Interchange.
an electronic exchange of documents from computer to computer.
based upon a legal agreement between sender and recipient.
An SED is - Answers A document required of exporters by U.S. Customs.
Shipper's Export Declaration
End-Use Certificates - Answers certify that the product is going to be used for a legitimate purpose.
The commercial invoice - Answers is sent with the shipment, it is separate from a letter of credit, can
be issued in any currency, and it has no connection to an export license.
A government will use a(n) _____ to attempt to control the export of national treasures or antiques. -
Answers export license
The United States export policy is mostly concerned about - Answers keeping some military
technologies away from some countries.
In 1996, the _____ was revised to a U.S. export policy stating that "everything is authorized unless it is
specifically prohibited." - Answers EAR - Export Administration Regulations
A product not on the Commerce Control List, or whose Export Control Classification Number does not
call for an export license, is classified as - Answers EAR99
Which of the following pieces of information does an international commercial invoice contain? -
Answers Incoterms
weight and measurements of the product
a precise description of the product
terms of payment
The pro forma invoice - Answers must be written with extreme care to avoid discrepancies between
the letter of credit and the commercial invoice.
Even when validated export licenses are not required, exporters are responsible for determining if
there are "red flags" in a transaction, such as - Answers a cash sale for a product generally purchased
on credit terms.
the product is sold to a company that does not appear to be in the exporter's main line of business.
the importer appears on the BIS's "List of Specially Designated Nationals."
The sentence "This merchandise licensed by U.S. for ultimate destination [country]. Diversion contrary
to U.S. Law prohibited" is - Answers the Destination Control Statement
Which of the following is not a reason for a country to require specific import documents? - Answers
to assess the correct income tax.
In addition to being a contract of carriage and a receipt for the goods, an ocean bill of lading is -
Answers a certificate of title.
ocean bill of lading
Which of the following regulate shipments of dangerous goods by ocean? - Answers the International
Maritime Dangerous Goods Code
Export taxes - Answers may be used when the shipped goods are minerals in short supply, or when
the product has been heavily subsidized by the government
Under two of Incoterms® Rules, ________ has to provide the importer with a Certificate of Insurance.
- Answers the exporter
CIP and CIF
In most cases, an intermodal bill of lading - Answers is a straight bill of lading
An air waybill - Answers is always straight and non-negotiable
EDI - Answers Electronic Data Interchange.
an electronic exchange of documents from computer to computer.
based upon a legal agreement between sender and recipient.
An SED is - Answers A document required of exporters by U.S. Customs.
Shipper's Export Declaration
End-Use Certificates - Answers certify that the product is going to be used for a legitimate purpose.
