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Exam 13: Exporting, Importing, and Countertrade

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Question 41

Multiple Choice

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The person or business initiating the draft is known as the ____________.

A) drawee
B) importer
C) importer's agent
D) maker
E) banker

F) A) and B)
G) A) and E)

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Question 42

Multiple Choice

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The way to overcome ignorance about export opportunities is _________?

A) to start importing
B) to DFAIT
C) to collect information
D) to use barter transactions
E) to use countertrade

F) D) and E)
G) B) and C)

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Question 43

Multiple Choice

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Common pitfalls of exporting include all of these except:

The Business Development Bank of Canada focuses on Canadian exporting businesses in the technology sector and provides financial assistance mainly for export specific purposes as a way to facilitate the exchange of commodities between Canada and other countries.

Lack of trust in international trade is exacerbated by the distance between two parties in space, language, and culture.

(A) ____________'s principle is to trade goods and services when they cannot be traded for money.

Germany is one of the world's most successful exporting nations.

When a firm agrees to purchase a certain amount of materials back from a country to which a sale is made, it is called:

A typical international trade transaction involves ____________ steps.

Unlike large firms, small and medium-sized firms tend to go out into the world to seek opportunities.

Large firms generally tend to be ______________ about seeking opportunities for profitable exporting, whereas medium-sized and small firms are ____________.

Access International, a British based greeting card company, is interested in importing paper from Canada.Which of these should Access arrange first for the Canadian company to ship the merchandise?

Which of these countries is considered as one of the World's most successful exporting nation?

You have just been hired by a new company, which manufactures frozen foods, to manage their export business to Venezuela, Brazil and Chile.The company management has decided that they are just not ready to organize the documentation and the financial transaction.In fact, because of poor documentation their first shipment was delayed by customs and food inspectors for 90 days before the proper documentation was couriered to the authorities.Your first job is to explain to management how you can improve the preparation of documentation and ensure that the company will get paid for its products.

The probability of exporting successfully can be increased dramatically by taking eight strategic steps.What are these steps?

Which of these allows for a delay in payment?

Completion of FITT's eight training modules leads to the _____ designation:

When a time draft is drawn on and accepted by a business firm, it is called a(n) :

Unlike their German and Japanese competitors, Canadian firms are still somewhat ____________ when they seek export opportunities.

How can Canadian firms increase their awareness of export opportunities? What agencies can be used? What do they provide?