Question : 101.In the United States, export credit insurance provided by _____, : 1299465

101.In the United States, export credit insurance is provided by _____, an association of private commercial institutions.  

A. Export-Import Bank

B. Bank of New York

C. Foreign Credit Insurance Association

D. Federal Deposit Insurance Corporation

E. Federal Reserve Bank

102.The Foreign Credit Insurance Association (FCIA) is an association of private commercial institutions operating under the guidance of the _____.  

A. Federal Mediation and Conciliation Service

B. U.S. Department of Commerce

C. Export–Import Bank

D. International Trade Administration

E. Ministry of International Trade and Industry

103.Which of the following is an advantage of export credit insurance?  

A. It gives a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents.

B. It protects exporters from the risk that the foreign importer will default on payment.

C. It puts the importer in a strong bargaining position.

D. It enables exporters to insist on a letter of credit.

E. It allows for a delay in payment.

104.Countertrade is most likely to be used when:  

A. the foreign currency is easily convertible.

B. the exporter has a letter of credit.

C. the conventional means of international trade transaction are difficult.

D. there is mutual trust between the exporter and the importer.

E. an export management company is used.

105._____ refers to an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent.  

A. Guanxi

B. Factoring

C. Securitization

D. Countertrade

E. Sogo shosha

106.A range of barterlike agreements by which goods and services are traded for other goods and services when they cannot be traded for money is known as _____. 

A. countertrade

B. carry trade

C. free trade

D. counter sale

E. countervailing duty

107.The principle of _____ is to trade goods and services for other goods and services when they cannot be traded for money.  

A. a letter of credit

B. countervailing duty

C. a bill of exchange

D. countertrade

E. the Export Legal Assistance Network

108.Countertrade occurs when the:  

A. exporter may not be paid in his or her home currency due to nonconvertibility.

B. exporter can convert the currency only in U.S. dollars.

C. exporter is dealing with a country that has huge foreign reserves.

D. exporter has easy access to export credit to fund its international trade.

E. importer defaults on payment.

109.Organizations resort to countertrade of goods and services when:  

A. the importer defaults on payment.

B. the goods and services cannot be traded for money.

C. the exporter is not able to get a letter of credit from a local bank.

D. a formal document for acknowledgement is not available.

E. the conventional means of payment are cheaper.

110.In the modern era, countertrade arose in the 1960s as a way for _____ to purchase imports. 

A. the United States

B. the Soviet Union

C. Germany

D. Japan

E. Africa