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Incoterms International Quick Quiz

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Incoterms International Quick Quiz

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Test your Incoterms knowledge with true/false statements.

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Court
Court
France

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Incoterms International Quick Quiz
 

Incoterms International Quick QuizOnline version

Test your Incoterms knowledge with true/false statements.

by Court
1

DAP sets the risk at the delivery place, when ready for unloading by the buyer.

2

FAS transfers risk when goods are alongside the ship and the buyer loads.

3

DPU replaced the term DAT in 2020.

4

Under FCA, risk transfers when goods are handed to the first carrier.

5

CIP includes insured coverage under ICC Clause A at 110% of contract value, with risk still at the first carrier handover.

6

CPT is maritime-only and cannot be used for multimodal shipments.

7

EXW transfers risk when the goods arrive at the buyer's premises in the destination country.

8

FOB is normally preferred over FCA for containerized cargo due to stowage control.

9

DPP is a standard Incoterm that places all duties on the buyer at import.

10

CIF provides insurance under ICC Clause A until the goods are onboard the vessel at origin.

11

EXW (Ex Works) transfers risk at the seller’s premises, with the buyer responsible for nearly all subsequent obligations.

12

CIF provides insurance under ICC Clause A at 110% of the contract value, which is the same as CIP.

13

CFR is a maritime-only term and the risk transfers when the goods are onboard the vessel at origin.

14

CPT is strictly maritime-only and cannot be used for multimodal transport.

15

DAP means risk passes only after the goods have been unloaded at the destination.

16

FCA (Free Carrier) transfers risk when the goods are handed over to the first carrier, and the seller clears export.

17

CIP includes insurance equal to Clause A (all risks) at 110% of the contract value, with risk transfers at the first carrier handover.

18

Under EXW, the seller is responsible for main carriage until the goods reach the destination.

19

CIP insurance covers only theft and vandalism, not other risks.

20

The 2020 Incoterms edition introduced Delivered at Place Unloaded (DPU), replacing DAT.

21

CPT and CIP are Maritime-only terms.

22

FOB and CFR are the same in terms of risk transfer timing.

23

Under CIF, the seller is not obligated to provide insurance at all.

24

Under CFR, the risk transfers only when the goods are unloaded at destination.

25

Under FCA, risk transfers when goods are handed to the first carrier.

26

FAS is a maritime-only term and transfers risk when goods are onboard the vessel.

27

In CIP, the insurer is not obligated to cover all risks.

28

CFR includes insurance provided by the seller.

29

CIF is never used for bulk sea trades.

30

CIP includes insurance with Clause A at 110% of contract value.

31

EXW makes the buyer responsible for export clearance and insurance, but not the seller.

32

DAP requires the seller to unload the goods at the destination.

33

DAT was replaced by DPU in Incoterms 2020.

34

DPP is the most protective term for the buyer, transferring all risks to the seller.

35

FAS requires the seller to deliver goods to the carrier at the port of shipment and transfer risk only after ocean freight begins.

36

DDP means the seller’s obligations end at the named place, with no import clearance responsibilities.

37

Under EXW, the seller is responsible for main carriage and insurance.

38

FOB is designed for multimodal shipments and is always used with inland transport.

39

DPU and DDP both transfer risk only after the goods have been imported and duties paid.

40

FCA always requires the seller to load the goods onboard the vessel.

41

EXW means the seller clears export and import on behalf of the buyer.

 
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