International Business Test

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International Business Test - 9

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Weekly Quiz Competition

Question 1
1 / -0

In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee?

A
Licensing

B
Contract

C
Joint venture.

D
None of the above

Solution

A licensing agreement is a between partnership between an intellectual property rights owner (licensor) and another who is authorized to use the such rights (licensee) in exchange for an agreed payment.
A variety of such licensing are available which may be broadly categorized as follows:
1. Technology license agreement .
2. Trademark licensing.
3. Copyright license agreement.
Question 2
1 / -0

TRIP is one of the WTO agreements that deal with which of the following?

A
Trade in agriculture

B
Trade in services

C
Trade related investment measures

D
None of the above

Solution

Trade Related Aspects of Intellectual Property Rights is an international agreement between the member nations of WTO. It sets down the minimum standards for the regulation by national governments for many forms of intellectual properties. Hence, it does not deal with trade in agriculture, trade in services or trade related to investment measures.
Question 3
1 / -0

Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper's name, the number of packages, the shipping bill, port of destination, and name of the vehicle carrying the cargo?

A
Shipping bill

B
Packaging list

C
Mates receipt

D
Bill of exchange

Solution

Shipping bill is a form used by customs and excise authorities before goods can be exported to other countries. It includes details of the cargo in terms of the shippers name, the number of packages, port of destination, and name of vehicle carrying the cargo.
Question 4
1 / -0

The system of Eximscrips was introduced in ___________.

A
1980

B
1985

C
1991

D
1996
Question 5
1 / -0

When two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as _________.

A
Contract manufacturing

B
Franchising

C
Joint ventures

D
Licensing

Solution

Joint venture is nothing but the contractual agreement between two or more parties to work together in which they share the profits and losses. Hence, when two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as joint ventures.
Question 6
1 / -0

Which of the following is not an advantage of exporting?

A
Easier way to enter into international markets

B
Comparatively lower risks

C
Limited presence in foreign markets

D
Less investment requirements
Solution
When one country supplies its goods to other countries it is called as export. There are many advantages of export. They are:
Easier way to enter into international markets.
Comparatively lower risks.
Less investment requirements.
A good presence in foreign markets.
Question 7
1 / -0

Which one of the modes of entry requires higher level of risks?

A
Licensing

B
Franchising

C
Contract manufacturing

D
Joint venture

Solution

Joint venture is a business entity formed by two or more entities that agree to share ownership, profits, losses, risk and governance or control. Joint ventures are usually taken up for capturing the new emerging markets, to share the risks where a huge amount of investment is involved and to achieve scale efficiency by uniting the assets and the operations. However, it should be kept in mind that Joint venture is different from Partnership. Partnership is a single business entity formed by two or more people whereas a Joint venture is an entity formed by two or more entities.
Question 8
1 / -0

The import licensing system was simplified with the introduction of ______.

A
LERMS

B
EXIM scrips

C
EPZ

D
EOU
Question 9
1 / -0

The objective of the World Bank is _____________.

A
to remove the short term disequilibrium is the balance of payments of the member countries

B
to eliminate the long term disequilibrium in the balance of payments of the member of countries

C
to eliminate the medium term disequilibrium in the balance of payments of the member of countries

D
all the above
Question 10
1 / -0

As equity joint venture is _________.

A
A technological sharing arrangement between private company and Government company

B
A capital sharing arrangement between an MNC and a local company (or even a foreign Government) or another MNC.

C
A capital sharing arrangement between the private company and government company

D
None of these

Solution

A joint venture is created by two or more parties generally characterized by a share of ownership, return, risk and share profits as equity it is an agreement between two companies to become one venture, for example, Starbucks is a joint venture of TATA enterprise.

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Re-Attempt Weekly Quiz Competition

International Business Test - 9

Result

International Business Test - 9

Score

-

Rank

-

SHARING IS CARING

Question 1

Licensing

Contract

Joint venture.

None of the above

Solution

Question 2

Trade in agriculture

Trade in services

Trade related investment measures

None of the above

Solution

Question 3

Shipping bill

Packaging list

Mates receipt

Bill of exchange

Solution

Question 4

1980

1985

1991

1996

Question 5

Contract manufacturing

Franchising

Joint ventures

Licensing

Solution

Question 6

Easier way to enter into international markets

Comparatively lower risks

Limited presence in foreign markets

Less investment requirements

Solution

Question 7

Licensing

Franchising

Contract manufacturing

Joint venture

Solution

Question 8

LERMS

EXIM scrips

EPZ

EOU

Question 9

to remove the short term disequilibrium is the balance of payments of the member countries

to eliminate the long term disequilibrium in the balance of payments of the member of countries

to eliminate the medium term disequilibrium in the balance of payments of the member of countries

all the above

Question 10

A technological sharing arrangement between private company and Government company

A capital sharing arrangement between an MNC and a local company (or even a foreign Government) or another MNC.

A capital sharing arrangement between the private company and government company

None of these

Solution

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