With an export sale from Argentina to New York, under the Incoterms FOB New York, if the merchandise is damaged while in transit, which party suffers...

With an export sale from Argentina to New York, under the Incoterms® FOB New York, if the merchandise is damaged while in transit, which party suffers the loss:

(a) the seller

(b) the buyer

(c) cannot be determined because this is an incorrect usage of Incoterms®

(d) none of the above

2. For an exporter in Turkey to quote CIF New York, they should not include which of the following costs:

(a) inland freight in New York

(b) international transportation insurance

(c) ocean transportation

(d) inland freight in Turkey

3. You are an importing company located in New York. You are purchasing denim jeans from a supplier in Brazil under FOB Brazilian port terms. Which cost(s) will you, the importer, have to pay separately from the price of the product:

(a) the cost of export clearance

(b) duty in New York

(c) inland freight in New York

(d) inland freight in Brazil

4. With a transaction for a shipment from China with the Incoterms® DAP Baltimore warehouse and with the contract calling for delivery no later than March 31, the seller in China is deemed to have delivered when:

(a) the merchandise is placed alongside the vessel in Shanghai

(b) when the merchandise is placed on board the vessel in Shanghai

(c) when the merchandise is delivered to the importer's warehouse in Baltimore

(d) when the merchandise is made available to the importer at the terminal in Baltimore

5. For a transaction to purchase linen shirts between an exporter in Mumbai, India and an importer in Miami, Florida , which of the following is not a valid Incoterms®:

(a) $3.50/pc CFR Miami

(b) $2.80/pc FOB Mumbai

(c) $3.00/pc CFR Mumbai

(d) $2.65/pc FCA Mumbai