The SWIFT System is an electronic network to handle for the exclusive transmission of
international banking transactions and regulated by the World Bank.
a. True
b. False
Answer:
Under the FPCA, U.S. courts have jurisdiction over a person who commits an FCPA
violation:
a. only if the person is a U.S. citizen.
b. if the person commits the act while in the territory of the United States, whether or
not he or she is a U.S. citizen.
c. regardless of where the act is committed or the citizenship of the person.
d. None of the above.
Answer:
In Japan, union leadership is a stepping stone to management.
a. True
b. False
Answer:
In the area of solving international environmental issues, the North American approach
has been to use:
a. Arbitration.
b. The World Court.
c. Bilateral treaties.
d. Mediation.
Answer:
Choice of law clauses in contracts stipulate in advance what court the parties will use in
case of a dispute and thereby avoid conflicts of law issues.
a. True
b. False
Answer:
In interpreting the Harmonized Tariff Schedule, the courts will look at the common and
commercial meaning of the items being imported.
a. True
b. False
Answer:
In 1947, the international community created the 1947 GATT and incorporated into the
context of the principles is the protection of intellectual property to encourage
innovation and protection.
a. True
b. False
Answer:
Which country has been considered a pioneer in the use of biofuels, particularly
ethanol?
a. Russia
b. The United States
c. Brazil
d. Mexico
Answer:
B is known in the trade as a trader and merchant of soybeans. A entrusts a load of
soybeans to B for storage in B’s warehouse. Secretly, B delivers the goods to an ocean
carrier in return for a bill of lading. B then sells the document covering a shipment of
soybeans to C, who has purchased soybeans from B in the past. C pays for the
document through its bank. B absconds with the money. In this case:
a. A may demand return of the soybeans from C.
b. C has greater rights in the soybeans than A.
c. A’s only remedy is against the ocean carrier.
d. C’s bank is liable for committing a conspiracy against A.
Answer:
The Court of First Instance is the equivalent to the U.S. International Trade Court and
has original jurisdiction over trade disputes between EU members and non-members.
a. True
b. False
Answer:
One of the goals of the Single European Act (SEA) was to achieve political integration
by 2000.
a. True
b. False
Answer:
There is no global consensus on an effective international control system over arms and
technology.
a. True
b. False
Answer:
The Incoterms definitions will automatically become a part of a contract for the sale of
goods, governed by the UN Convention for the International Sale of Goods.
a. True
b. False
Answer:
Which of the following may not be a reliable criterion for determining whether import
and domestic goods are “like products”?
a. Consumers’ tastes and habits.
b. The product’s end uses.
c. The product’s uniform tariff classification.
d. All of the above
Answer:
Which of the following arguments was not raised in opposition to NAFTA?
a. By creating a regional trading block, NAFTA would strengthen GATT’s global trade
liberalization achievements.
b. NAFTA would permit firms to take advantage of weaker environmental laws and low
cost labor by locating plants in Mexico.
c. NAFTA would allow U.S. products and advertising to weaken the distinctive cultures
and traditions of Canada and Mexico.
d. NAFTA would cause Mexican companies to suffer in competition against larger and
better capitalized U.S. and Canadian firms.
e. None of the above.
Answer:
A cooperative business arrangement between two or more companies may be a:
a. Partnership.
b. Joint venture.
c. Corporation.
d. All of the above.
Answer:
Under NAFTA as a common market for labor and workers have the freedom of
movement within the United States, Canada, and Mexico.
a. True
b. False
Answer:
Article 81(3) provides for an “individual exemption” of an otherwise violation of the
Article 81, if the results there are positive economics effects overall.
a. True
b. False
Answer:
In Germany, the supervisory board of directors is responsible for representing
government and shareholder interests.
a. True
b. False
Answer:
In the Pesquera Mares Australes v. United States case, the court found that the Chilean
salmon exporter had not violated U.S. antidumping laws.
a. True
b. False
Answer:
If the seller in Omaha wishes to place the goods in the hands of a trucking company
named by the foreign buyer and have the risk of loss pass to the buyer at that time, the
seller should quote his prices:
a. FAS Omaha.
b. CIF seller’s plant.
c. FOB port of shipment.
d. FCA Omaha.
e. None of the above.
Answer: