BL3369 Incoterms QUIZ

Quiz

Check your understanding of incoterms

Answer the multiple choice questions to check your understanding of Incoterms

Incoterms quiz

QUESTION 1/5

Incoterms are published by which organisation?

United Nations Convention on Contracts for the International Sale of Goods (CISG)

International Institute for the Unification of Private Law (UNIDROIT)

International Chamber of Commerce (ICC)

incoterms quiz

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incoterms quiz

QUESTION 2/5

Contracts using which term are known as flexible instruments?

DDP Delivered Duty Paid

EXW Ex works

FOB Free on Board

incoterms quiz

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incoterms quiz

QUESTION 3/5

A key feature of FOB with additional services compared to CIF is:

seller acts as buyer's agent

seller pays for freight as part of an 'all-in' price

seller is the buyer's principal

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incoterms quiz

QUESTION 4/5

Documents are critically important in a CIF contract because:

Without the documents, the seller cannot deliver the goods

A CIF contract is a sale of documents only

Performance of CIF contract is by delivery of documents representing the goods, and not by actual physical delivery of the goods themselves

incoterms quiz

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incoterms quiz

QUESTION 5/5

When were Incoterms last modified?

2020

2016

2010

incoterms quiz

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