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Which of the following is a function of an export management company

Which of the following is a function of an export management company? 

A. It starts exporting operations for a firm with the understanding that the firm will take over operations after they are well established.

B. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys.

C. It oversees volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.

D. It collects duties on exported products and sets interest rates for charging foreign investors.

E. It gives novice exporters the names and addresses of potential distributors in foreign markets along with businesses they are in.

62.Which of the following is true of an export management company (EMC)?  

A. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters.

B. It provides a potential exporter with a "best prospects" list.

C. It assembles a "comparison shopping service" for 14 countries.

D. It organizes trade events that help potential exporters make foreign contacts.

E. It specializes in serving firms in particular industries and in particular areas of the world.

63.Which of the following is a drawback of relying on an export management company (EMC)? 

A. It does not provide references and has no antecedents.

B. The exporting company can fail to develop its own exporting capabilities.

C. It does not have expert specialists to help neophyte exporter identify opportunities.

D. It typically lacks information about local business regulations.

E. The exporting company cannot avoid the common pitfalls of exporting.

64.A firm that enters many markets at once: 

A. runs the risk of spreading its limited management resources too thin.

B. becomes established in all the markets.

C. gets the time to learn about each market.

D. has fewer export opportunities.

E. reduces the costs of any subsequent failure.

65.Which of the following is a strategic step taken to increase a firm's probability of exporting successfully?  

A. Avoiding the use of export management companies to contain costs

B. Entering several markets simultaneously to hedge risk

C. Entering a foreign market on a small scale

D. Waiting for export opportunities

E. Avoiding recruitment of local personnel

66.Firms engaged in international trade deal with people they may have never seen, who live in different countries, who speak different languages, and who abide by different legal systems. These factors result in: 

A. easy tracking of the parties involved.

B. a lack of trust between the parties.

C. strict enforcement of contractual obligations.

D. rapid acculturation.

E. better understanding of how transactions should be configured.

67.In international trade, an exporter wants to be paid before a consignment is shipped. Correspondingly, the importer wants to pay only upon receipt of the consignment. These conflicting preferences of the parties are a manifestation of _____. 

A. corporate greed

B. acculturation

C. lack of trust

D. cultural insensitivity

E. countertrading opportunities

68.A lack of trust between two parties engaged in international trade is exacerbated by the: 

A. saturation of the domestic market.

B. similar preferences of the parties regarding how a transaction should be configured.

C. narrowing distance between the two parties due to technological advances.

D. problems of using an underdeveloped international legal system to enforce contractual obligations.

E. possibility of doing business with someone with whom they have been associated for a long time.

69.In terms of using a third party in international trade, title to the products is given to a bank by the exporter in the form of a document known as a _____.  

A. merchandise bill

B. bill of lading

C. bill of exchange

D. draft

E. letter of credit

70.Which of the following stands at the center of international commercial transactions and is issued by a bank at the request of an importer?  

A. Bill of lading

B. Time draft

C. Letter of credit

D. Sight draft

E. Bill of exchange

Jan 11 2020 View more View Less

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