CLA Global Supply Chain Logistics 2

Question 1

Which document is required by US Customs and Border Protection for all commercial imports entering the United States?

Accepted Answer

Entry Summary (CBP Form 7501)

Answer

Bill of Lading

Answer

Certificate of Origin

Answer

Packing List

Question 2

In international trade, what does the term 'landed cost' include?

Accepted Answer

Purchase price, freight, insurance, duties, and all other import costs

Answer

Only the purchase price of goods

Answer

Purchase price plus freight and insurance only

Answer

Only duties and taxes

Question 3

What is the primary purpose of a Free Trade Zone (FTZ) in the United States?

Accepted Answer

To allow manipulation of goods before formal customs entry, deferring or reducing duties

Answer

To store goods permanently without taxation

Answer

To bypass all import regulations

Answer

To restrict foreign goods from domestic markets

Question 4

Under Incoterms 2020, which term places the MAXIMUM responsibility on the seller?

Accepted Answer

DDP (Delivered Duty Paid)

Answer

EXW (Ex Works)

Answer

FOB (Free on Board)

Answer

FCA (Free Carrier)

Question 5

What is the primary risk associated with single-source global supply chains?

Accepted Answer

Supply disruption vulnerability with no backup supplier

Answer

Higher transportation costs

Answer

Reduced product quality

Answer

Increased customs complexity

Question 6

Which ocean shipping routing concept involves consolidating cargo from multiple shippers into a single container?

Accepted Answer

Less than Container Load (LCL)

Answer

Full Container Load (FCL)

Answer

Roll-on Roll-off (RoRo)

Answer

Break Bulk shipping

Question 7

What does 'nearshoring' mean in global supply chain strategy?

Accepted Answer

Relocating production to nearby or neighboring countries

Answer

Moving manufacturing to distant low-cost countries

Answer

Bringing all production back to the home country

Answer

Outsourcing to multiple continents simultaneously