国际贸易考试习题

1. As a type of perils of the sea, tsunami is ____.

a. a natural calamity b. a fortuitous accident

c. an additional risk d. a general extraneous risk 2. As a type of perils of the sea, being stranded is ____. a. a natural calamity b. a fortuitous accident

c. an additional risk d. a general extraneous risk

3. In ocean transit, sacrifices resulted from the jettisoning of some cargoes on a ship to keep the ship afloat during a storm are ____.

a. a general average b. a particular average c. a total actual loss a constructive total loss

4. In ocean transit, when the subject matter insured is irretrievable deprived thereof, there is ____.

a. a constructive loss b. an actual total loss c. a general average d. a particular average

5. In ocean transit, the subject matter insured -- a precision instrument amounting to USD100, 000 was badly damaged, the cost of recovering it would be USD120, 000. In such case, the loss was____.

a. a constructive total loss b. an actual total loss c. a partial loss d. a total loss

6. The losses caused by theft in ocean transit are recoverable if the goods had been insured against ____.

a. FPA b. WPA

c. ALL RISKS d. any of the general additional insurance in the ICC 7. Which of the following risks is/are covered by All Risks? a. War b. Strikes and delay c. TPND d. Aflatoxin and on deck

8. Which of the following does not cover partial loss or damage caused by natural calamities?

a. WA b. FPA c. AR d. ICC (A) 9. The widest insurance coverage in ICC is ____.

a. ICC(A) b. ICC(B) c. ICC(C) d. ICC(D)

10. If the insured amount is not clearly stated in CIF contract, it is customary to insure for ____.

a. 100%CIF price b. 110%CIF price c. 115%CIF price d. 120%CIF price

II. T or F questions:

1. Warehouse to warehouse clause is a shipment clause meaning that the carrier is responsible for shipping the goods from the seller’s warehouse to the buyer’s warehouse.

2. Both general additional risks and special additional risks in the Ocean Marine Cargo Clause of the PICC can be covered independently.

3. Although All Risks in the Ocean Marine Cargo Clause of the PICC does not cover special additional risks, it covers general additional risks.

III. Case study

1. A vessel carrying a bulk good of ore was stranded. Some goods were damaged, in an attempt to get free, some ore were jettisoned, both the engine and the ship were damaged, and a salvage vessel was employed. The ship was refloated in 2 days and put into a port refuge for repair. The damage, charges were as follows: 1) Goods damaged because of stranding: USD10,000 2) Jettisoned cargo: USD20,000

3) Service of salvage vessel: USD65,000 4) Refugee and other charges: USD35,000

Which of the above damages or charges shall be allowed as general average? Why?

IV. Briefly define the concepts: 1. General average 2. W/W clause