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The Treaty of Lisbon included all of the following except:
a. Renaming the EEC to the EU.
b. The right for states to withdraw from the EU.
c. A citizen's initiative process.
d. Elevation of the European Council to a primary institution within the EU.
In the event Customs discovers that the information provided by the importer was
fraudulent at the time of liquidation, the case can be reopened within five (5) years.
a. True
b. False
In the case In re Union Carbide Corporation Gas Plant Disaster at Bhopal, the U.S.
court ruled:
a. That Union Carbide was criminally responsible for the deaths at the Indian plant.
b. That Union Carbide was liable to the plaintiffs under Indian law.
c. That Union Carbide was not responsible for the negligent acts of its subsidiary in
India.
d. That the case brought in U.S. courts should be transferred to the courts of India.
Companies in some countries cooperate with the boycott against Israel.
a. True
b. False
An embargo is a country's economic policy response to a trading partner's obstacles to
imports.
a. True
b. False
Under which International Commercial Term is the lowest quoted price per unit.
a. FOB
b. CNF
c. EX:Works
d. DAS
The two classifications of national legal systems are civil law countries and common
law countries.
a. True
b. False
The Tokyo Round was successful in reducing trade obstacles.
a. Kyoto Protocol
b. Lowered the ad valorem tariffs approximately 35%
c. Cut tariffs to an average to 5%
d. None of the above
The GATT 1994 established rules for regulating trade in goods and services and
creation of the WTO.
a. True
b. False
Doing business internationally requires an understanding of all of the following except:
a. International law.
b. National law.
c. Different international organizations.
d. Availability of legal counsel in each country
Under NAFTA, a customs broker must have an office or residence within the borders of
a country in order to do business in that country.
a. True
b. False
The primary reason for the absence of much litigation under foreign competition law is:
I. The preapproval process reduces the necessity for litigation.
II. Differences in the remedies and types of sanctions for violations.
III. Cultural attitudes toward antitrust law differ.
a. I only.
b. II only.
c. III only.
d. I and I.
e. I, II, and III.
Under the CISG, a communication between the parties would be considered an offer
when:
a. It is in the form of an advertisement.
b. It leaves the quantity or price terms open.
c. It is sufficiently definite and indicates an intention to be bound.
d. Both B and C.
In non-market economy countries, the determination of foreign market value is usually
based on:
a. The use of "constructed value."
b. Home market sales.
c. Third country sales.
d. Both A and C.
Goods may be refused entry into the U.S. by the Bureau of Customs and Border
Protection due to:
a.Quarantine to protect the public health.
b.Embargoed country of origin.
c.Lack of a commercial invoice.
d.All of the above.
Unlike U.S. employers, Chinese employers are allowed to set and advertise
requirements for the of female job applicants.
a. age
b. attractiveness
c. marital status
d. all of the above
When a nation's import regulations or procedures lack , foreign firms cannot easily gain
entrance to its markets.
a. incentives
b. transparency
c. documentation
d. none of the above
The TRIPS Agreement:
a. Became effective July 1, 1995.
b. Promises to create a more effective international system for protection of IPRs.
c. Requires every member of the WTO to abide by the Paris Convention and the
Uniform Copyright Convention.
d. A, B, and C.
When the Seller's bank guarantees payment under the letter of credit issued by buyer's
bank it becomes a(n):
a. Confirmed Letter of Credit.
b. Irrevocable Letter of Credit.
c. Letter of Credit with Stipulations.
d. Standby Letter of Credit.
The U.N. has recently sponsored a 'supranational" set of laws that transcends national
boundaries; most industrialized nations have adopted it.
a. True
b. False
