ElderIron10136
1. Who benefits from the World Bank’s loans? A….
1. Who benefits from the World Bank’s loans?
A. The NGOs that work on basic social development projects. B. Companies from the basic infrastructure sector.
C. Governments, agencies, and companies with government guarantee. D. Any type of company that operates in development projects.
2. Why may it be convenient to form a consortium for a multilateral project?
A. Because it allows to obtain tax advantages.
B. Because banks have special lines of credit for consortia.
C. Because certain multilateral agencies favorably value the participation of companies from different countries.
D. Because a consortium allows to get bonuses in the social contributions of the companies.
3. What are marketplaces?
A. Futures markets.
B. Online market through which companies and consumers can get in contact and make transactions.
C. Markets through which commodities are bought.
D. Online markets through which financial transactions are made, such as bond and loan issuance.
4. What key advantage can marketplaces give to SMEs?
A. To low production costs.
B. To enhance talents identification.
C. To low commercial costs and tofacilitate customer identification. D. Topave the way towards the acquisition of subsidies.
5. What is an e-store?
A. Astore that specializes in software and hardware products.
B. An online platform that is used to sell goods or services through e- commerce.
C. Itis a synonym for marketplace.
D. It is the name that is given to storage centers where marketplaces keep their products.
6. What is an exports consortium?
A. Apublic entity created to foster exports in a given sector.
B. A partnership of companies that produce complementary goods and come together to export their products jointly.
C. An entity that represents a group of entities whose main objective is to develop exports activities.
D. The entity resulting from a merger of companies whose activities are primarily concerned with exports and, to a lesser extent, domestic markets.
7. What is abusiness cluster?
A. Agroup of companies that establish a partnership to carry out a project. B. A group of companies that establish a partnership toshare resources.
C. A public agency that fosters innovation within a given sector.
D. A group of companies based in geographical proximity to one another. Said companies work in a particular field and are linked by common and complementary elements.
8. What do we mean when we say reshoring while talking about a company’s foreign investments?
A. The transferring back of delocalized production centers to their country of origin.
B. The concentration of a company’s R+D activities within its country of origin. C. Thenew logistics systems, based to a great extent on digitalization.
D. The situation of expatriate workers in production centers that established in acountry that is not the company’s country.
9. What do we mean when we say offshoring while talking about a company’s foreign investments?
A. The development of transport systems that combine different logistics approaches.
B. The delocalization of production activities to other countries, usually with theintention to capitalize on said countries’ lower production costs.
C. The delocalization of production activities to other countries, usually with the intention to capitalize on their well-prepared intellectual property protection systems.
D. Fundraising in financial markets located in countries different from the company’s country.
10. Why has the delocalization trend in favor of China decreased in recent years?
A. Because of an increase in itspolitical risks.
B. Because China still refuses to join the World Trade Organization. C. Because of a shortage of Chinese skilled labor.
D. Because of the increase of production costs in China, particularly wage costs.
1. How could we define an “emerging market”?
A.A former socialist economy country that has undergone a transition to a market economy.
B. A developing country that is experiencing a strong economic growth and is opening up toforeign markets.
C. An Asian economy with a high growth rate.
D. A country that aspires to join the European Union.
2. What key advantage do developed markets have over emerging markets?
A. They have greater economic growth rates. B. They have higher volumes of foreign trade.
C. They have a stronger legal and institutional framework. D. They have more developed financial systems.
3. Which of the following elements is a common feature of an important part of
Asian economies?
A. High weight of services in the active population. B. State interventionism in economic activity.
C. The main role of agriculture in its GDP. D. Low saving rates.
4. Which of the following factors explain why saving rates are high in many Asian countries?
A.high interest rate
b. welfare state inadequacy which encourages the population to save money in order to cover future needs.
c.high tax incentives to encourage saving, which exist in most Asian countries.
d. government propaganda campaigns encouraging saving so as not to rely on foreign financing
5. What is meant by “the Beijing Consensus”?
A. The policy that defines the major guidelines for action of the Asian
Infrastructure Investment Bank.
B. The policy that defines the major guidelines for action of the Asian
Development Bank in China.
C. The development policy that has been followed by China since the reform policy was adopted as an alternative to the so-called Washington Consensus. D. The economic policy of China in the Maoist period as an alternative to the Soviet model of development.
6. Does it make sense to talk about an “Asian development model”?
A. Yes. This is a model announced by the Asian Development Bank in the early
1960s.
B. No. There are no elements more or less common than others in the development model that Asian countries have followed. Each one has followed a different model.
C. Yes. This is the model that is aligned with the guidance of the Beijing
Consensus.
D. Yes. Although there are differences among Asian developing countries, there are some common characteristics, such as state interventionism or a tendency to open up.
7. What wasthe purpose of the creation of China’s Special Economic Zones?
A. To attract and experiment with foreign investments. B. To create hubs of advanced technology industry.
C. To displace farming communes.
D. To foster the development of aerospace and defense industries.
8. What is the goal of the New Silk Road?
A. To foster the development of the Chinese textile industry.
B. To develop a large Eurasian economic corridor, especially though investments in infrastructure.
C. To promote the attraction of foreign investments in China. D. To foster economic relations of China in Central Asia.
9. What is understood by lack of reciprocity when talking about the business framework in China?
A. That China obtains a preferential treatment in the World Trade Organization. B. ThatChinese exports receive very high tariffs in their destination markets.
C. That China is subject to an unusual high number of anti-dumping measures. D.That Chinese companies can access other markets with much more freedom compared with foreign companies willing to access the Chinese market.
10. Which of the following reasons has led the EU and the United States to formally renew their transatlantic partnership?
A. Investments by EU technology companies in the United States. B. Theneed to control capital flows.
C. The need to strengthen its ties in view of China’s technological initiatives. D. The benefit of moving towards a European capital market.
1. Which of the following indicators is more suitable to measure the degree of openness to foreign trade of an economy?
A. The average tariffs it applies.
B. The percentage that exports and imports represent in relation to GDP. C. The number of exports companies present in the country.
D. The number of banks present in the country which operate internationally.
2. Why is the geographical diversification of exports a positive aspect?
A. Because it means that the country’s industry is highly competitive. B. Because it ensures greater future growth of the economy.
C. Because it reduces risks.
D. Because it strengthens the reputation of the country.
3. Why is it important to analyze the solvency prospects of an economy?
A. Because it conditions its membership of the World Trade Organization.
B. Because a country with bad solvency prospects can go into default in payment in the future.
C. Because it is a requirement imposed by The International Monetary Fund.
D. Because a low solvency level can be a forecast of political instability.
4. When analyzing a country, which factor would be most relevant for a company intending to invest in it?
A. Its degree of openness to foreign trade. B. Its political system.
C. The security of its judicial and legal framework.
D. The membership of the country to international organizations of that the country of the company is also a member.
5. Which of the following aspects would be the most relevant to measure the degree of openness of an economy to foreign investments?
A. The percentage that imports and exports represent in relation to its GDP. B. Whether there is free currency convertibility in the country or not.
C. The type of corporate taxes.
D. The percentage that foreign capital stock represents in relation toits GDP.
6. Is the reputation of a country important for a company?
A. Yes, because in the absence of other information, the first analysis conducted by potential partners of a company from other countries will be highly influenced by the perception they have of the company’s country.
B. It holds no real importance. Potential partners from other countries do not
pay attention to the reputation of the country of origin of a company, but they only take notice of the goods and services offered by said company.
C. The reputation of a country is important for governments, but it holds little importance for companies and consumers.
D. It depends on the countries. For example, in Latin American countries, reputation is very important, whereas in Asian and Arabic countries it bears no importance.
7. Which of the following indicators would be the most suitable to measure the market size of an economy?
A. Gross Domestic Product (GDP). B. GDP per capita.
C. Volume of imports.
D. Public expenditure level.
8. According to gravity models, which are the factors determining the geographical orientation of foreign trade flows?
A. The membership of trade agreements.
B. The membership of The World Trade Organization. C. The membership of monetary unions.
D. The geographical distance and the size of the economies.
9. Which of the following factors, related to geography, could negatively affect the trade flows between countries?
A. Time difference.
B. Weather differences.
C. Differences in cultural preferences. D. Differences in the education system.
10. Which of the following countries is not a member of ASEAN?
A. Vietnam. B. Malaysia. C. China.
D. Singapore.
1. In general terms, what effect does cultural diversity have over the human resources of a business?
A. Mainly negative ones, because of communication difficulties and the different ways of working which derive from the diversity of cultures.
B. Cultural diversity may have a positive effect, by fostering creativity and innovation.
C. Ithas a neutral effect, neither good nor bad.
D. It depends on the resources allocated by the business to amend the negative effects of diversity.
2. What doesit mean that a society is collectivist, from a cultural perspective?
A. That the means of production are collectively owned.
B. That collective negotiation is the foundation of the interaction between companies and unions.
C. Collectivity, society prevails. The individual’s interests depend on the society’s.
D. That state-owned businesses are predominant in the economy.
3. How can the concept of international negotiation be generally defined?
A. Anegotiation among the governments of different countries.
B. The bargaining and agreement (where negotiation is successful) of a transaction or dealamong two or more parties belonging to different countries.
C. The submission of a dispute to an international mediation or arbitration process
D. Anegotiation process that is conducted in an international organization.
4. Does culture have a significant impact on thepropensity to corruption?
A. No. Corruption depends mainly on the level of economic development.
B. Yes. Individualistic cultures, such as the ones from the north of Europe and the American, are less prone to corruption.
C. No. The main determining factor for the degree of corruption is the legal system.
D. Culture does have an impact, but only in countries with authoritarian political systems.
5. Why are personal relations important for the development of business in certain cultures?
A. Because personal relations promote mutual understanding.
B. Because, in the end, people are the ones making decisions in business.
C. Because trust is built through personal relations, which is – in turn- an element that fosters business in certain cultures.
D. Because personal relations allow us to better understand the conditions for the conduction of the business to be undertaken, its possible risks, etc.
6. What is understood by cultural intelligence?
A. The ability tolearn foreign languages easily.
B. Having a wide knowledge about different cultures of the world. C. Theability of people to adapt toliving in developing countries.
D. The ability or skill of people to effectively adapt to new cultural contexts.
7. What key requirement must mediators fulfill in a negotiation?
A. Having the trust and acceptance of both parties.
B. They must have been legally authorized by a body of the Management. C. They must have been appointed by an arbitration court.
D. Being recommended by the buyer.
8. What subjects does financial negotiation involve in the negotiation of a transaction?
A. Financial negotiation involves prices.
B. Financial negotiation involves assuring issues related to the operation.
C. Financial negotiation has the purpose of establishing how the expenses arising from the negotiation will be borne by the two parties.
D. Financial negotiation involves the financing facilities that follow the negotiation.
9. What is understood by integrative bargaining in a negotiation process?
A. The negotiation involves government (or governments) representatives.
B. The negotiation is not based on a zero-sum principle, but the principle that both parties can improve their positions as a consequence of the negotiation. C. The negotiation is based on a zero-sum principle, and consequently, the gains that a party may obtain will be achieved at the expense of the other party’s loss.
D. The negotiation process involves mediators, with the intention that an external andindependent participation will contribute to the success of the negotiation.
10. What is understood by culture shock when speaking about intercultural negotiation?
A. The difficulties that the expatriates face to adapt to the foreign countries they are moving to.
B. The difficulties that the expatriate families face to adapt to the foreign countries they are moving to.
C. The difficulties to comply with the cultural and religion rules effective in other countries.
D. The difficulties to understand and find meaning to a new cultural framework from its own perspective.
1. INCOTERMS are:
A. A set of negotiatory tactics.
B. A set of predefined terms used in trade. C. A set of mandatory legal rules for trade. D. Aset of terms for policy formulation.
2. Incoterms are published by: A. ICC.
B. WTO. C. UN.
D. UNIDROIT.
3. In a CIF incoterm:
A. The seller does not carry the risk that the goods are lost or damaged along the way, because risk shifts to the buyer at origin.
B. The seller carries the risk that the goods are lost or damaged along the way, because risk shifts to the buyer at origin.
C. The buyer does not carry the risk that the goods are lost or damaged along the way
D. All are incorrect.
4. When a contract is international:
A. The parties may agree not to have their disputes governed by national law. B. They can submit the contract to customs and usages of international trade. C. They may submit the contract to UNIDROIT Principles on International Commercial Contracts.
D. All the above are true.
5. The so-called soft law:
A. Means agreements, principles and declarations that are legally binding.
B. Becomes legally binding when the parties so agree in a contract. (Correct) C. They can never be used as a framework of interpretation.
D. They have no relevance in international trade since they have no positive force in the law of anycountry.
6. According to articles 1.7 UNIDROIT PINCIPLEs 2016:
A. The parties to the international contract are bound by the duty to keep good
B. Faith during the negotiation phase of the contract. the parties may not exclude or limit this duty.
C. Nothing prevents parties from providing in their contract for a duty to observe more stringent standards of behaviour.
D. All are true.
7. Which are the formal sources of international law?
A. Custom, treaties and judicial decisions.
B. Custom, general principles of law and theory. C. Treaties, custom and general principles of law.
D. Treaties, custom and General Assembly Resolutions.
8. FOB incoterms applies:
A. If the main carriage is via air.
B. If the main carriageis via ground. C. If the main carriage is via rail.
D. If the main carriage is via ocean or inland waterway transport.
9. Modern private international law developed from the need to
issues involving commercial transactions between traders belonging to different cities.
A. Conciliate. B. Reconcile. C. Adjudicate.
D. None of them.
10. Contracting parties will often include a clear
states which laws should apply in case of dispute.
A. Assignment. B. Termination. C. Choice of law.
D. None of them.
1. How does an open account payment method work?
A. Payment is held by thebank until items clear customs. B. Items are delivered, then payment is made.
C. Payment is made first, then items are shipped. D. Payment is made to a third-party distributor.
2. UCP 600 are recognized as having legal effect.
A. Yes, UCP 600 govern the relationship between the parties regardless of their will.
B. No, UCP 600 govern the relationship if the parties agree to it. C. Yes, it depends on what the arbitrator or judge decides.
D. Yes, but only if the UCP 600 have been transplanted into the domestic law of any of the parties to the contract.
3. In an international commercial relation when the parties trust each other, what payment method should be used?
A. Payment in advance. B. Open account.
C. Letter of credit. D. Consignment.
4. Standby Letter is a method of payment for importing and exporting goods?
A. Right.
B. Wrong.
C. Depends on the will of the parties.
D.Yes, it is the same as a letter of credit
5. Forward contracts are the best option to obtain the best value of currency in an international commercial transaction.
A. Wrong.
B. Right
C. Depends on the will of the parties.
D. Yes, it allows the parties to modify the terms of the contracts to obtain the best value.
6. How does a countertrade payment method work?
A. Payment is held by thebank until items clear customs. B. Items are delivered, then payment is made.
C. Goods or services which are paid for, in whole or part, with other goods or services, rather than with money.
D. Payment by goods is made to a third-party distributor.
7. In which of the following circumstances might an exporter chose to use a collection document method of payment?
A. The buyer’s country is politically unstable.
B. The buyer is creditworthy but hasa record of slow payment.
C. There are some risks associated to delay in performance, but there is a good market for the goods in the buyer’s country.
D. Above B andC.
8. Generally, if no risk is associated, what is the most secure method of payment of the exporter.
A. Cash in advance. B. Letter of credit. C. Consignment.
D. Open account.
9. Generally, if no risk is associated, what is the most secure method of payment of the importer.
A. Cash in advance. B. Letter of credit. C. Consignment.
D. Open account.
10. . Which one of the following International Chamber of Commerce (ICC) Publication governs stand by Practices?
A. URC522
B. UCP600
C. URR725
D. ISP98
1. Can a fraud or a scam be submitted tointernational arbitration?
A. Yes, if theparties agree to submit the dispute to an arbitration tribunal.
B. No. There is no dispute in the event of fraud or scam but a criminal or deceptive behavior by the fraudsters.
C. Yes, if the legislation of the countries involved admit it. D. Yes,after the prior approval of the WTO.
2. For the intervention of a mediator to be effective, what requirement should they comply with?
A. They must havebeen appointed by the relevant authorities.
B. They must be members of a professional association for mediators.
C. They must be trustworthy for the parties as well as acknowledged by them. D. They must be from a country different from those of the parties to the dispute.
3. Who appoints an arbitrator in a dispute between companies?
A. The authorities.
B. The two parties to the dispute agree on the appointment of thearbitrator. C. The WTO.
D. The European Commission.
4. When is an arbitrator appointed?
A. At the time set forth by the legislation of the country where the dispute is submitted to arbitration.
B. It could have been fixed in the contract, or it may be then appointed bythe parties once the dispute had arisen.
C. The WTO analyzes the dispute and determines when it is appropriate to move on to arbitration.
D. When the arbitration court decides.
5. What is an arbitration award?
A. The ruling on a dispute rendered by judicial body.
B. The rules set by a government on how to settle trade disputes. C. The decision of an arbitration tribunal.
D. The dispute settlement proposal made by an arbitrator.
6. What is a«special panel» in a WTO dispute settlement procedure?
A.A panel made up of representatives from the two governments to the dispute.
B. A panel of countries that join toassert a complaint.
C. A panel of WTO officials who manages the dispute settlement body.
D. A panel of independent experts, appointed by the WTO, who analyzes the dispute and issue a ruling on it.
7. What happens if a country targeted with a complaint does not comply with the ruling of the Dispute Settlement Body?
A. The country faces a fine imposed by the WTO. B. TheWTO takes the case to ordinary courts.
C. The WTO imposes a general increase in the tariffs, by all its members, for the exports of the non-compliant country.
D. The complaining country may retaliate.
8. What is the objective of the consultations stage in the dispute settlement procedure of the WTO?
A. The objective is for a special panel to analyze the issue, ask for reports and hearallegations.
B. At this stage, the WTO consults with other international bodies related to the issue at stake.
C. The consultations take place after the ruling of theWTO Dispute Settlement
Body and its objective is to plan how theruling will be implemented.
D. At the consultations stage, the aim is that both parties to the dispute negotiate and reach an amicable agreement to avoid furthering the procedure.
9. What is the ICSID?
A. The London Court of International Arbitration.
B. A center for the settlement of disputes arising from investment under the
World Bank.
C. The dispute settlement body under the WTO. D. The main arbitration court in Latin America.
10. Who can besubjected to a complaint before the ICSID?
A. Acompany.
B. An international body that has damaged a company in their trade activities. C.A large multinational company with activities in a great number of countries. D. A government.
