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The term mediation when dealing with dispute resolution refers to the situation where:
a. The two disputing parties settle the disagreement by themselves.
b. A third party tries to bring the parties in conflict to a mutually satisfactory solution.
c. The parties in conflict agree to have a court hear only limited evidence.
d. None of the above.
Items that are not classified on the Commerce Control List may be exported without an
in individual export license.
a. True
b. False
When a petition for import relief is filed with the International Trade Commission, the
ITC conducts an investigation and must consider all the following factors except:
a. Idling of productive facilities in the industry.
b. Unemployment in the industry.
c. Ability of industry to shift to production of other products.
d. Increase in imports.
A U.S. enterprise that wishes to establish an entity abroad under its control may create a
subsidiary or branch:
I. Once either of these is established, the company may waive Rights of Protection
under the
U.S. bilateral investment protection agreements.
II. If the company chooses a subsidiary, it will not be directly answerable for liability.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
Buyers and sellers entered into a contract for the sale of nuts. The usual route used the
Suez Canal. Prior to shipment, a war closed the canal. Because the freight charges
would be so high by another route, the seller refused to ship. The buyer had to buy at a
higher price elsewhere and sued the seller. At trial:
a. The seller will win based on the doctrine of frustration of purpose.
b. The buyer will win since this is just a risk of doing business.
c. The seller will win because of res ipsa loquitur.
d. The buyer will lose because problems with shipment by sea are an excuse for
nonperformance.
The European Commission has given exemptions in all of the following areas except:
a. Exclusive purchasing agreements.
b. Patent license agreements.
c. Motor vehicle distribution agreements.
d. Merger agreements.
Similar to courtroom practices in the U.S., the legal proceedings in the European Court
of Justice allow for the calling of witnesses, the production of documents, the hiring of
experts, cross-examination, and open to the broadcasting media for transmission to the
public.
a. True
b. False
Regarding marking and labeling rules in Mexico:
a. The cost of complying with the rules is so costly that many small companies cannot
afford to sell their products in Mexico.
b. Product warranties must be clearly stated.
c. Exporters to Mexico need to seek good advice in labeling and marking products to
avoid long delays in getting their goods to markets in Mexico.
d. There are specific labeling requirements for certain products.
e. All of the above are true.
To determine the dutiable status of goods, it is necessary to know their classification,
country of origin, and details pertaining to:
a. Perishable/non-perishable status.
b. Partially or fully manufactured goods.
c. Value.
d. Raw materials to be used in production.
COGSA relieves carriers of liability for negligent care and handling of cargo.
a. True
b. False
The customs service may seize articles imported into the U.S. that violate trademark or
copyright laws of a U.S. firm but the mark must be registered with the:
a. U.S. Bureau of Customs and Border Protection.
b. U.S. Patent & Trademark Office.
c. A and B.
d. The Bureau of Customs and Border Protection does not seize items with this type of
violation.
In Germany, workers:
a. Can be dismissed at the will of the employer.
b. Participate in corporate decisions.
c. Are often represented on boards of directors.
d. A and B
e. B and C
The most important aspect of the Basel Convention has been that the signatory nations
succeeded in defining what constitutes hazardous waste and therefore gain the
acceptance of member nations in enacting strict environmental laws.
a. True
b. False
Antitrust law in poses the possibility of criminal liability, but this is not possible in .
a. the United States; Europe
b. the United States; China
c. China; the United States
d. Europe; Japan
The Basel Convention on Transboundary Movements of Hazardous Wastes has been
adopted by over 150 nations.
a. True
b. False
The U.S. government agency that provides guarantees on loans or credit terms made by
U.S. commercial banks or
U.S. exporters to foreign buyers of U.S. made merchandise is called:
a. The World Bank.
b. Eximbank.
c. Commodity Credit Corporation.
d. The Foreign Credit Insurance Association.
If country A gives favorable tax treatment to XYZ, Inc. a corporation in country A,
because XYZ, Inc. exports a large number of widgets, this tax break is referred to as
a(an):
a. Consortium.
b. Export Subsidy.
c. Export Rebate.
d. Tariff Supports.
Seller in Georgia and buyer in the Netherlands enter into a contract for the sale of
goods, CIF port of Amsterdam.
The seller refused to ship. The buyer brings an action for damages. In the United States,
a court would probably rule that:
a. The seller was correct in not shipping until payment was received.
b. The damages should be measured by the difference between the contract price and
the market price of the goods at the port of shipment.
c. The damages should be measured by the difference between the contract price and
the market price of the goods in Amsterdam at the time the documents would have been
presented to the buyer for payment.
d. None of the above.
The U.S. law granting trade preferences to imports from the island nations of the
Caribbean and Central America is called:
a.The Caribbean GSP Act.
b.The Latin American Free Trade Act.
c.The Lome Convention.
d.The Caribbean Basin Economic Recovery Act.
Multinational agencies have advanced the environmental effort by applying uniform
environmental standards to projects they finance. For example:
a. The World Health Organization has guidelines for pollution controls.
b. The World Bank has a volume of Environmental Guidelines for industrial projects.
c. The Tokyo Stock Exchange allows no investors who do not adhere to its
environmental guidelines.
d. None of the above.
The European Union's sophisticated antitrust law is based on and implemented through
Article 1 and Article 2 of the Clayton Act.
a. True
b. False
Among the reasons for controlling exports are the protection of national security, the
prevention of terrorism, the promotion of regional stability, and the preservation of
scarce materials.
a. True
b. False
