International Business Test

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International Business Test - 14

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Weekly Quiz Competition

Question 1
1 / -0

Which one of the following is not amongst India's major trading partners?

A
USA

B
UK

C
Germany

D
New Zealand
Solution
India is a major trading partner of all of the mentioned countries except New Zealand. USA having the highest share as India's major trading partner.
Following are the 15 top trading partners of India – countries that imported the most Indian shipments (in dollar value) during 2017. Also shown is each import country’s percentage of total Indian exports.

United States: US$46.1 billion (15.6% of total Indian exports)
United Arab Emirates: $30 billion (10.1%)
Hong Kong: $15 billion (5.1%)
China: $12.5 billion (4.2%)
Singapore: $11.6 billion (3.9%)
United Kingdom: $9 billion (3%)
Germany: $8.2 billion (2.8%)
Vietnam: $8.1 billion (2.7%)
Bangladesh: $7.2 billion (2.4%)
Belgium: $6.2 billion (2.1%)
Italy: $5.7 billion (1.9%)
Malaysia: $5.5 billion (1.9%)
Nepal: $5.5 billion (1.9%)
Netherlands: $5.4 billion (1.8%)
Saudi Arabia: $5.2 billion (1.8%)

Over three-fifths (61.3%) of Indian exports in 2017 were delivered to the above 15 trade partners.
Question 2
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Which of the following does not belong to the World Bank Group?

A
IBRD

B
IDA

C
MIGA

D
IMF

Solution

IMF stands for International Monetary Fund. It is an international organization with 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, etc. Hence, IMF does not belong to the world bank group.
Question 3
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If you are purchasing a franchise, one of the reason could be _______.

A
it is always much cheaper than setting up a new business venture

B
there is complete control over important decisions

C
the business can use its own name in advertisements

D
the risks of failure are lower as it is buying a well known business idea

Solution

One of the reason for purchasing a franchise can be its low cost as it is always much cheaper than setting up a new business venture. Franchising is a type of arrangement between two parties for business expansion by allowing other to use it trade mark.
Question 4
1 / -0

The objective of global marketing is to _______.

A
coordinates the marketing activities within the constraints of the global environment

B
satisfy global customers better than competition

C
find global customers

D
achieve all of the above

Solution

The objective of global marketing is to coordinate the marketing activities within the constraints of global environment, satisfy the global customers that the organization targets and find new global customers to increase sales and market share.
Question 5
1 / -0

TRIP is one of the WTO agreements that deal with _________.

A
Trade in Agriculture

B
Trade in Services

C
Trade Related Investment Measures

D
None of the Above

Solution

TRIP is one of the WTO agreements that deals with areas of intellectual property like copyright and related rights, trademarks including service marks, patents etc.
Question 6
1 / -0

The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is ________.

A
Letter of Hypothetication

B
Letter of Credit

C
Bill of Lading

D
Bill of Exchange

Solution

Letter of hypothetication written agreement, which authorizes a bank or lender to repossess and sell the pledged item in case of a default.
A letter of credit is a guarantee issued by the importer's bank that it will honour up to a certain amount the payment of export bills to the bank of the exporter.
A bill of lading is a document issued by a carrier to acknowledge receipt of cargo for shipment.It is a conclusive receipt, i.e. an acknowledgement that the goods have been loaded; and it contains or evidences the terms of the contract.
A bill of exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or on demand. Bills of exchange are primarily used in international trade.
Question 7
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A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as ______.

A
Shipping Receipt

B
Mate Receipt

C
Cargo Receipt

D
Mate's Receipt

Solution

A mate receipt is a receipt issued by the commanding officer of the ship when the cargo is loaded on board, and contains the information about the name of the vessel, berth, date of shipment, marks and numbers, description of packages, condition of the cargo at time of the receipt on board the ship.
Question 8
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Compared to licensing, franchising is a more advantageous entry mode because __________.

A
it generates economies of scale in marketing to international customers

B
it is low-risk and low-cost

C
it offers greater control

D
all of the above

Solution

Franchising is a more advantageous entry mode as it helps in expansion of business and also generates economies of scale and also offers greater control to an organisation at a low risk and at low cost.
Question 9
1 / -0

By EXIM policy we mean ________.

A
External and internal policy

B
Export-import policy

C
Extra import policy

D
None of the above

Solution

Exim Policy is a set of guidelines and instructions related to the import and export of goods. Indian EXIM policy is the policy designed by the government in order to regulate the import and export trade of the country. Hence, by EXIM policy we mean export-import policy.
Hence, option (B) is the correct option.
Question 10
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________ is the cornerstone of international franchising.

A
Focus

B
Concentration

C
Standardisation

D
Adaptation

Solution

Standardisation is the cornerstone of international franchising as standardisation is the ability of a company to use the same marketing strategy from one country to another to survive globally.

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Re-Attempt Weekly Quiz Competition

International Business Test - 14

Result

International Business Test - 14

Score

-

Rank

-

SHARING IS CARING

Question 1

USA

UK

Germany

New Zealand

Solution

Question 2

IBRD

IDA

MIGA

IMF

Solution

Question 3

it is always much cheaper than setting up a new business venture

there is complete control over important decisions

the business can use its own name in advertisements

the risks of failure are lower as it is buying a well known business idea

Solution

Question 4

coordinates the marketing activities within the constraints of the global environment

satisfy global customers better than competition

find global customers

achieve all of the above

Solution

Question 5

Trade in Agriculture

Trade in Services

Trade Related Investment Measures

None of the Above

Solution

Question 6

Letter of Hypothetication

Letter of Credit

Bill of Lading

Bill of Exchange

Solution

Question 7

Shipping Receipt

Mate Receipt

Cargo Receipt

Mate's Receipt

Solution

Question 8

it generates economies of scale in marketing to international customers

it is low-risk and low-cost

it offers greater control

all of the above

Solution

Question 9

External and internal policy

Export-import policy

Extra import policy

None of the above

Solution

Question 10

Focus

Concentration

Standardisation

Adaptation

Solution

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