Ocean and Sea Freight Basic Test

Question 1

A receipt listing the commodities that have been deposited at a warehouse.
It is not negotiable if it limits delivery to a certain person or company, but it is if it is made out to the order of one of those parties or to a bearer.

Accepted Answer

Warehouse Receipt

Answer

Force Majeure

Answer

Consolidated Shipment

Answer

CFS (Container Freight Station)

Question 2

A word used in insurance that denotes coverage for partial loss or damage to goods. Many clauses stipulate a minimum amount of damage before payment before specifying that the damage must typically be caused by sea water. It can be increased to cover theft-related losses, or pilferage.

Accepted Answer

With Particular Average (WPA)

Answer

Break-bulk Vessel

Answer

Conference

Answer

Warehouse Receipt

Question 3

The name of a common clause found in maritime treaties that exempts the parties from fulfilling their duties due to uncontrollable events like earthquakes, floods, or war.

Accepted Answer

Force Majeure

Answer

Feeder Vessel

Answer

Break-bulk Vessel

Answer

All-Risk Insurance

Question 4

A route for transporting import and export commodities between ports and inland locations

Accepted Answer

Inland Carrier

Answer

CFS (Container Freight Station)

Answer

Transshipment

Answer

All-Risk Insurance

Question 5

A catchall phrase for any table of costs or rates. The tariffs of international transportation firms that operate on land, sea, and in the air, as well as the tariffs of international cable-radio-television providers, are those that are encountered most commonly in international trade.

Accepted Answer

Tariff

Answer

Manifest

Answer

Conference

Answer

Inland Carrier

Question 6

The largest type of coverage offered, protecting against any risk of physical loss or damage resulting from outside sources. Does not protect against delay-related loss or damage, inherent vice, insufficient packaging, or market loss.

Accepted Answer

All-Risk lnsurance

Answer

Transshipment

Answer

Warehouse Receipt

Answer

Manifest

Question 7

An approach to shipping whereby a representative (such as a freight forwarder or consolidator) aggregates several shippers' consignments into a single shipment that is sent to a destination agent in order to receive favourable prices. (Also known as "groupage" The drawbacks

Accepted Answer

Consolidated Shipment

Answer

Transshipment

Answer

Tariff

Answer

Manifest

A receipt listing the commodities that have been deposited at a warehouse.It is not negotiable if it limits delivery to a certain person or company, but it is if it is made out to the order of one of those parties or to a bearer.

A receipt listing the commodities that have been deposited at a warehouse.
It is not negotiable if it limits delivery to a certain person or company, but it is if it is made out to the order of one of those parties or to a bearer.