An agent is similar to a distributor in that he's a middleman. C. from the exporter's bank. B. Import or export agents must also prepare documents while informing import agents about the details of shipment arrivals. C. letter of credit switch trade. D. before product shipment. The agent's role is to get orders and (usually) earn a commission for his services. C. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." Which of the following is a document used to give the title of the products to a bank? A. List of Excel Shortcuts We calculated that 34% of Import-Export Agents are proficient in Customer Service, Data Entry, and Booking. Steps to getting started as an export-import agent 1. Next up, we have the freight broker profession to look over. The FCIA provides coverage against commercial risks and political risks. C. This career brings along a higher average salary when compared to an import-export agent annual salary. Countertrade is: D. Ensured accuracy of direct mail processing and preparation operations in accordance with DHL requirements, customer requests, and established procedures. \end{array} \\ 1,5004,000Sellingandadministrativeexpenses45,00045,000Totalexpenses$174,500$139,000\begin{array}{lcr} Countertrade A _____ serves as a receipt, a contract, and a document of title. B. For the most part, brokers work for sellers, although some brokers do represent buyers. Since they are not actively engaged in the task, the principal is less informed than the agent. Which of the following is a major drawback of engaging in countertrade? Which of the following statements is true of exporting? B. A(n) _____ can help new exporters identify opportunities and avoid common pitfalls. barter The top three companies that hire the most from these institutions include Expeditors, Kuehne+Nagel, and FedEx. B. We've found that most import-export agent resumes include experience from Expeditors, Yusen Logistics, and C.H. buyback, The main attraction of a(n) _____ is that it can give a firm a way to finance an export deal when there are no other means available. They are also responsible for issuing materials and other supplies for storage in the central warehouse. Alcoa World Alumina LLC bought the refinery from B. \end{array} most attractive to small, primarily domestic enterprises. Export Agents, Merchants, or Remarketers. C. A common pitfall of exporting is trying too hard to customize a product offering rather than "sticking with what you know." D. C. Recommended improvements to existing or planned logistics processes, as well as writing and revising standard operating procedures for those processes. counterpurchase countertrade For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. The currency devaluation also makes purchasing from other countries more expensive, thus discouraging imports. The logs are particularly useful for debugging problems and monitoring cluster activity. D. The broker identifies Singapore Electronics, a potential customer in Singapore, for these items. filed a suit against Glencore to recover costs related to the settlement. Floating exchange system Countertrade is a conventional means to pay exporters. 1.UMS can download an app from the AppExchange. Product and field research 6. That's why we looked into some other professions that might help you find your next opportunity. receives payment from a third-party such as a bank or trading house. Matchmaking The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor. C. Prepare paperwork for consolidated boxes Support the import department & interact with the brokerage department for customs clearance shipment. B. Master's Degree Human Resources Management. Which of the following is a reason that firms take a reactive approach to exporting rather than a proactive approach? And at The IMA Group, they make an average salary of $46,964. Coordinate logistics of domestic shipments bound for Mexico. D. barter If you're interested in companies where import-export agents make the most money, you'll want to apply for positions at C.H. Export selling does not modify the product pricing or promotional material to mee. The sourcing decision is one of the most complex and important decisions faced by a global company. We used info from lots of resumes to find that both import-export agents and freight brokers are known to have skills such as "customer service," "third-party logistics," and "track shipments. Duties may also be different depending on where the agent is in the supply chain. United Nations Prepare the analysis over the useful life of the new machine. Weeks after the Philadelphia standout chided Kansas City's soon-to-be free agent over a Valentine's Day meme, Brown tore into Smith-Schuster once again on Wednesday following the releas after product shipment. kaizen Among the necessary skills for this job include customer service, negotiation, communication, and marketing. ELAN It does not involve the physical handling and distribution of goods. D. The tariffs make importing goods and services more expensive than purchasing them domestically. Net exports are the estimation of the total value of a countrys exports minus the total value of its imports. The answer is no. D. Indirect exporting is a common practice among firms that are just beginning their exporting. Promissory note, A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. The original cost of the machine is $60,000, the accumulated depreciation is$24,000, its remaining useful life is five years, and its residual value is negligible. recover for the environmental damage. MITI bill of exchange C. B. Operations Management questions and answers, MCQ10 MLIN13 08 2021 Which of the following statements is not true for export selling: Select one alternative: The export selling approach works for companies that have unique products with little or no international competition Export selling does not involve tailoring the product, the price, the promotional material to suit the requirements of global. Handled all facets of work associated with incoming customer cargo calls, including booking, tracking and tracing cargo. In fact, freight brokers salary difference is $5,064 higher than the salary of import-export agents per year. \text { Selling and administrative expenses } & 45,000 & 45,000 \\ B. Lockheed sold the refinery to Advanced understanding of logistics functions Prepare a differential analysis dated May 4 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. The status of the agent at the time of export. that produced hazardous waste. E. To combine export shipments within single containers. subsidized by the Department of Commerce. Thank you for reading CFIs guide to Imports and Exports. D. to insure products during shipment. indemnify Lockheed for pre-closing environmental conditions. A. B. Does not take title to the products being purchased and sold, Is actively involved in the negotiations for either the sale or purchase of the products.
","authors":[{"authorId":9054,"name":"John J. Capela","slug":"john-j-capela","description":"John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. Bartering, The main attraction of _____ is that it can give a firm a way to finance an export deal when other means are not available. A. Barter Dummies has always stood for taking on complex concepts and making them easy to understand. Which of the following is true of the distribution process? Description : Used to specify a mapping from host names or IP addresses to peer services, as a comma-separated list of <host_or_ip>=<user_assigned_name> pairs. B. A. Prepare documentation as master BOL, shippers export declarations, cargo release, pickups, delivery orders and others. C. The commercial invoice is one of the main documents used by customs in determining customs duties. Exim Agent 2015 All rights reserved - Website by YES Internet. draft, _____ can be used when a government restricts the convertibility of its currency to preserve its foreign exchange reserves so they can be used to service international debt commitments and purchase crucial imports. Which of the following is a disadvantage of countertrade? B. B. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor.
\nOn the downside, when you're doing business as an agent, you run the risk that the parties will bypass your firm and deal directly with each other on any future transactions.
\nTo minimize the risk of being eliminated from future transactions, remember that an agent is not someone who makes a call and brings people together just to earn a commission. A. Which of the following factors is not typically taken into consideration when making a sourcing decision: Select one alternative: Country infrastructure Foreign exchange rates O Management vision O Divisibility of innovation O Customer needs A. An EMC is a transportation company that engages in international business. C. A. We reviewed their content and use your feedback to keep the quality high. Buyback, _____ occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. D. Question: MCQ10 MLIN13 08 2021 Which of the following statements is not true for export selling: Select one alternative: The export selling approach works for companies that have unique products with little or no international competition Export selling does not involve tailoring the product, the price, the promotional material to suit the Exports are goods and services that are produced domestically, but then sold to customers residing in other countries. A. While the salaries between these two careers can be different, they do share some of the same responsibilities. Interestingly enough, warehouse assistants earn the most pay in the transportation industry, where they command an average salary of $36,486. \text { Direct materials } & \$ 72,000 & \$ 72,000 \\ Performed material handling and inventory functions for customer shipments. They should provide shipment status notification to answer inquiries from exporters and consignees. For China, the worlds largest exporting country, exports and a net positive balance of trade are critical to the success and growth of the countrys economy. The greater the effort you make in developing that relationship and representing the company, the more likely that company will be to maintain the relationship.
","description":"An agent is similar to a distributor in that he's a middleman. A. Enter on a large scale to flood the market. A. Quoted ocean FCL & LCL rates to all the customers in order to satisfy their shipping needs. It gives the importer time to resell the merchandise before payment. Buyback importer's bank sends the draft and bill of lading to the exporter's bank. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. The Export-Import Bank: On the downside, when you're doing business as an agent, you run the risk that the parties will bypass your firm and deal directly with each other on any future transactions. A. Buyback, _____ is a reciprocal buying agreement and occurs when a firm agrees to buy a certain amount of materials back from a country to which a sale is made. A. against political risks faced by importers. Question: Which of the following is true of export agents? Offset These similarities include skills such as "customer service," "dhl," and "hazardous materials," but they differ when it comes to other required skills. C. It reduces the administrative costs incurred by a company. A. D. They are intimidated by the complexities and mechanics of exporting to countries where business practices, language, culture, legal systems, and currency are very different from the home market. Some of the benefits of the agent option are the reduced start-up costs and the limited working capital you need. ","strippedTitle":"what is an import/export agent? Decide whether the following statement true and false. B. In fact, our research shows that one out of every five import-export agents were not college graduates. D. Export agents, merchants, or remarketers purchase products directly from the manufacturer, packing and labeling the products according to their own specifications. Why or why not? The answer is no. Why? letter of credit A _____ is issued to the exporter by the common carrier transporting the merchandise. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. trade fair. On the other hand, if you're representing the buyer, you have an obligation to secure the products for the buyer at the lowest possible price. sight draft Which of the following is true of exporting? In some cases, the principle will want to keep tight control over the agents activities, while in other instances, the agent is given free reign. A. is the same as a letter of credit. C. B. The import/export business has two main types of agents: Traditional import/export agents: An export agent works in the country where the product is produced. In essence the export agent becomes the exporters export department. _____ are export specialists that act as the export marketing department or international department for their client firms. A. D. They create excess productive capacity and actively hunt for opportunities in foreign markets. \hline \hline , or offline. For example, several resumes showed us that import-export agent responsibilities requires skills like "data entry," "booking," "export," and "import export." The _____ is issued to the exporter by the common carrier transporting the merchandise. C. For example, you may identify a producer in the U.S. and work toward representing that producer (the seller) in foreign markets as the export agent. Employees in both import-export agents and freight forwarders positions are skilled in customer service, booking, and import export. Fines for export violations, including anti-boycott violations, can reach up to $1,000,000 per violation in criminal cases, and $250,000 per violation in most administrative cases. Most modern applications have some kind of logging mechanism. As a receipt, the bill of lading indicates that the carrier: switch trade Add additional products once exporting becomes successful. Offset The interest rate on my student loan is only 6%6 \%6%, yet more than half of my payments are currently going toward interest rather than principal. A. B. Soviet Union and the Communist states of Eastern Europe, _____ is viewed as the most restrictive countertrade arrangement. D. to Lockheeds suit? letter of credit Fixed exchange system, _____ denotes a whole range of barter-like agreements and its principle is to trade goods and services for other goods and services when they cannot be traded for money. time taken to approve the sale. is a sight draft that can be used as a negotiable instrument in banks. B. C. bill of lading buyback, Which of the following terms refers to the use of a specialized third-party trading house in a countertrade arrangement? sight draft Offset An example of the quality issue is illustrated by Sony televisions, which are perceived by many consumers as being of notably superior quality to other brands. The agent may travel abroad, do research, prepare an export plan, advise the exporter on how to adapt their marketing mix, make contact with potential buyers, negotiate deals with the buyers, take care of all promotional activities, handle the logistics and documentation, and much more. They move materials and inventory across the facilities. They handle all activities required to move products from one country to another. C. By concealing information or using their expertise in ways that benefit themselves more than the principal, the agent is able to shirk . A. Import or export agents are professionals who are required to act as the middle person for purchasing or selling products between both domestic and overseas companies. It is not attractive to small organizations. It guarantees the exporter pre-export financing. Countertrade is not useful when trading with developing nations. B. B. bill of exchange U.S.-based corporations. Enter many markets at one time to gain maximum exposure. Let us begin by defining an export agent. Countertrade occurs when goods and services are traded for other goods and services. D. A. after receiving the product. Switch trading They are taken into account as Net Exports. C. C. A. A. most attractive to large, diverse multinational enterprises. It's their job to sort, organize, and keep stock in the right location. CADE is a middleman, bringing the seller and buyer together but not taking title to the goods and not providing any of the services that a distributor may perform.
\nAn agent
\nIs independently owned
\nDoes not take title to the products being purchased and sold
\nIs actively involved in the negotiations for either the sale or purchase of the products
\nThe import/export business has two main types of agents:
\nTraditional import/export agents: An export agent works in the country where the product is produced. Sometimes people change their minds about their career after working in the profession. focuses on policies that have an impact on the exchange rate and the balance of payments. D. Freight brokers have licensed property brokers who provide assistance to shippers in hauling materials. A. These skills include "customer service," "third-party logistics," and "as400. Private associations cannot offer export insurance in the United States. Specialize - choose your sector and products 4. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. D. Some companies may employ an agent for very specific tasks such as undertaking marketing research or handling the export administration and logistics only. You remain responsible for shipping and other trade-related logistics - although your agent should be able to help. B. ", While some skills are similar in these professions, other skills aren't so similar. D. To earn the highest possible profits in foreign countries. Counterpurchase While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. D. Here are examples of responsibilities from real import-export agent resumes representing typical tasks they are likely to perform in their roles. For example, gathering from import-export agents resumes, they are more likely to have skills like "data entry," "booking," "export," and "import export." B. Export selling requires the use of marketing research and identification of market potential.