MGSC 492 Actual Questions and Correct Answers
Q1
Of the world's international trade, is transported by sea. Sending cargo by sea is ideal for...
Answer: 90% High-volume cargo that is not necessary time sensitive or have long lead
times for delivery.
Q2
Liner conferences
Answer: Liner conferences are formal groups of shipping lines that operate on certain
shipping routes that bring together all lines operating in a specific geographic zone.
The conferences provide a way of managing forward revenue streams. They are the
only industry except from anti-competiton laws in the US.
Q3
Shipping lines
Answer: Own and operate various types of ships in their fleet.
Q4
Ship's agents
Answer: Provide services to the shipping lines in the ports where the ships call
Q5
Freight forwarders
Answer: Their role is to oversee and manage the movement of freight from the point
of origin to the point of destination
Q6
Common shipping terms FCL LCL Hook to hook Liner in Liner out Free in/Free out
Answer: Full Container Loads Less than container load HTH - term used when quoting
prices to break-bulk sea freight. Price includes loading the goods on the vessel and
unloading the goods at the destination port. LI- Shipping line responsible for the cost
of loading the cargo on board the vessel LO - Shipping line responsible for the cost of
unloading the cargo at the destination port. F/O - Opposite of hook to hook - Free
means free to the shipping line, the party purchasing the sea freight will be
responsible for the cost of loading and unloading the goods on and off the ship.
Q1
Of the world's international trade, is transported by sea. Sending cargo by sea is ideal for...
Answer: 90% High-volume cargo that is not necessary time sensitive or have long lead
times for delivery.
Q2
Liner conferences
Answer: Liner conferences are formal groups of shipping lines that operate on certain
shipping routes that bring together all lines operating in a specific geographic zone.
The conferences provide a way of managing forward revenue streams. They are the
only industry except from anti-competiton laws in the US.
Q3
Shipping lines
Answer: Own and operate various types of ships in their fleet.
Q4
Ship's agents
Answer: Provide services to the shipping lines in the ports where the ships call
Q5
Freight forwarders
Answer: Their role is to oversee and manage the movement of freight from the point
of origin to the point of destination
Q6
Common shipping terms FCL LCL Hook to hook Liner in Liner out Free in/Free out
Answer: Full Container Loads Less than container load HTH - term used when quoting
prices to break-bulk sea freight. Price includes loading the goods on the vessel and
unloading the goods at the destination port. LI- Shipping line responsible for the cost
of loading the cargo on board the vessel LO - Shipping line responsible for the cost of
unloading the cargo at the destination port. F/O - Opposite of hook to hook - Free
means free to the shipping line, the party purchasing the sea freight will be
responsible for the cost of loading and unloading the goods on and off the ship.
