Practice quiz
1. Alberto Retail Fire Extinguisher Inc. imported $ 25,000. Determine the total FCA value of the
2X20 TC: 500 pcs Fire Extinguishers from said shipment
Quanzhou Sanxing Fire-Fighting Equipment
Co., Ltd. covered by White CO. The total
Add infos:
Invoice shows $20,500.00 value inclusive of
packing and handling charges of $ 450 and Pre-carriage : $500
export clearance charges of $250.00. The Terminal Handling charges at origin: $1,000
covering Bill of Lading shows "Freight Collect" Internal insurance: $250
amounting to $2,500.00. Alberto Retail Fire On carriage: $520
Extinguisher Inc. procured Domestic Insurance Destination Charges: 5,000
Premium amounting to P35,550.00 covering
transit from China to Manila International Ans.=
Container Port. Determine the incoterm used in
the Commercial Invoice. Determine the total
invoice value and the incoterm used in the 6. A freight forwarding company in Iloilo imported
Commercial Invoice. 10 units of closed delivery vans with total FCA
Ans. = value of $ 15,750.00 inclusive of origin inland
freight of $750.00 and export forwarder's fees of
$ 650.00. Importer requested his seller in Korea
2. A shipment of 1x20 container STC Antibiotics to deliver the said vans to the former's
arrived at NAIA. The total EXW value amounts warehouse in Bacolod ready for unloading from
to $15,000 and the pre carriage charges and arriving vehicle. Based on destination inland
internal insurance amounts to $500. If the air freight charges of $ 950.00 and pre-paid ocean
freight was prepaid at $700, determine the total freight charges of $1,380.00, which among the
CPT value. following is the incoterm and total amount paid
Ans. = by the importer?
Ans.=
3. A shipment of 1x20 container STC furniture
table were discharge at South Harbor. The total
invoice price os $18,750.65 and the goods were 7. A shipment of chilled vegetables from China
delivered by the seller at the warehouse of was arrived at NAIA. The delivery by the seller
shipping lines. The seller likewise included in were made at the warehouse of his NVOCC. The
his invoice price the pre-carriage charges and CIP value amounts to $12,750, excluded of
internal insurance amounting to $150 and $100, packing charges, air freight and insurance
respectively. Determine the incoterms used and premium of $200, $1,200 and $500 respectively.
its total amount. Determine the total amount of CIP.
Ans. = Ans. =
4. A shipment of 1x20 container STC portable 8. An importer from Davao imports 1x20 van STC:
generator arrived at P02B. The EXW value of Canned goods from India with a total FCA value
the said shipment amounts to $10,000, exclusive of $15,500.00 inclusive of air freight charges of
of internal insurance of $50, pre-carriage of $500.00. Determine the total CPT value.
$100, and terminal handling charges of $200. Ans.=
Determine the total amount of EXW.
Ans.=
9. Compute the total FCA value for a shipment
5. A consignee from Sta. Cruz, Manila ordered consisting of various office and school supplies
bags knapsack from his consignor in Zheijang consigned to ABC Bookstore with total CPT
Province, China with the total exworks value of value of $ 20,475.00. The total ex works value
had a total amount of $ 18,500.00 and air freight
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Practice quiz
charges was 10% of the total ex works value. Dest. THC: $3,000
Ans.= Orig. Inland Frt.: $2,500
MOP: Revocable LC
10. A consignee from Cebu imported 1×40 reefer
van STC: Frozen salmon from a seller in Los Find the total FOB value.
Angeles, USA having a total FCA value of
$20,000.00. Determine the total CIP value of the Ans. =
said shipment.
14. An importer fresh fruits and vegetables imports
Additional info:
1,000 boxes from China with total CFR value of
Pre-carriage - $500 $ 30,000.00 inclusive of internal insurance and
Internal insurance - $200 ocean freight charges of $ 150.00 and
On carriage - $600 $ 1,000.00, respectively. If the on carriage and
Port to port insurance - $300 import duties and taxes amounts to $ 10,000.00,
Freight charges - $1,500 what is the total DDP value?
Terminal handling charges at destination - $700
Ans.=
Ans.=
15. A department store in Makati imported 100
11. Shipment: 1×20 STC 1,000 boxes of basketball pieces of cellular phones from a seller located in
shoes Tokyo, Japan with total purchase price of
Total invoice price: $25,646.00 $ 35,150.00. The importer instructed his
Ocean freight: $1,100 (pre-paid) forwarder to arrange inland freight from seller's
Port of Loading: Port of Batangas warehouse in Japan to an airline warehouse
Port of discharge: Port of Hong Kong located in Tokyo and paid export forwarder's
Marine insurance : $300 (paid by seller) fees of $ 350.00. Air freight charges to NAIA
Delivery by seller: Handed over to the carrier were likewise pre-paid by the forwarder
amounting to $ 3,000.00. What is the incoterm
Ans. = used and its total amount?
12. A shipment of general merchandise arrived at Ans.=
the Port of Batangas with total invoice price of
$ 21,000.00. The seller unloaded the goods at 16. CBA Corporation imported 2x20 container van
the consignee's warehouse in Bauan, Batangas. STC: Fire Extinguishers arrived at PO2A. The
The destination inland freight of $ 500.00, total invoice shows $ 20,500.00 value inclusive
unloading charges at the consignee's warehouse of packing and handling charges of $ 500.00 and
of $ 250.00 and ocean freight charges of export clearance charges of $ 210.00. The bill of
$ 1,500.00 was included in his invoice price. lading shows "freight collect" amounting to
The consignee took charge of the import $ 2,500.00. BA Corp. procured domestic
clearing formalities and the payment of import insurance premium amounting to P30,200.00
duties, taxes and other charges. What is the covering transit from Port of China to Port of
applicable incoterm and total amount of this Manila. Determine the total invoice value and
shipment? the incoterm used.
Ans. = Ans.=
17. Shipment: 1x20 van STC: Fresh fruits
Total FOB: $22,050.00
13. Shipment: General merchandise Ocean Frt: $1,550.00
Total DAP: $35,156 Dest. Inland Frt: $770.00
Ocean Frt: $2,550 Dest. THC: $2,000.00
Dest. Inland Frt.: $5,000
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Practice quiz
Orig. Inland Frt: $500.00
Ans.=
Compute for total DAP value.
Ans.=
18. A shipment of of 2x20 container vans said to 21. Shipment: 1x20 van STC: School Supplies
contain various electrical supplies arrived at the Port of Disc: P02B
Port of Subic with total FOB value of Total CFR: $29,050.00
$ 15,000.00. The seller unloaded the goods at Ocean Frt: “Freight Prepaid”
the buyer's warehouse in Balanga, Bataan. If the On carriage: $990.00
buyer paid the import duties, taxes and other Dest. THC: $1,000.00
charges amounting to P 150,000.00. Determine Pre carriage: $1,050.00
the total DPU value of this shipment. Unloading charges
at buyer’s warehouse: $700.00
Addt'l info:
On carriage: $ 600.00 What is the total DAP value of this shipment?
Unloading charges Ans.=
at the buyer's warehouse: $ 250.00
Ocean freight: $ 1,500.00 22. Shipment: General Merchandise
Total DAP: $25,050.00
Ans.= Ocean Frt: $2,500.00
On carriage: $1,950.00
19. Shipment: 1x40 van STC: Portable Generators Dest. THC: $2,750.00
Port of Disc: P02A Pre carriage: $1,000.00
Total CFR: $19,075.00 Internal Insurance: $500.00
Ocean Frt: $1,550.00
Dest. Inland Frt: $990.00 Find the total EXW value.
Dest. THC: $1,000.00 Ans.=
Orig. Inland Frt: $600.00
Unloading charges 23. Shipment: High risk cargo
at buyer’s warehouse: $500.00 Total DAP: $29,975.00
Ocean Frt: $3,550.00
Compute for total DPU value. On carriage: $790.00
Dest. THC: $2,000.00
Ans.= Pre carriage: $1,000.00
Import d/t: $7,000.00
20. Shipment: 2x40 vans STC: Auto Parts and
Accessories What is the total DDP value of this shipment?
Port of Disc: P04 Ans.=
Total EXW: $15,345.00
Ocean Frt: $1,950.00
Dest. Inland Frt: $350.00 24. GIVEN:
Dest. THC: $1,550.00 SHIPMENT: GENERAL CARGO
Orig. Inland Frt: $300.00 PORT OF LOADING: PORT OF BATANGAS
Unloading charges PORT OF DISCHARGE: HONG KONG
at buyer’s warehouse: $650.00 OCEAN FREIGHT: PAID BY BUYER
Import d/t: $5,000 MARINE INSURANCE: PAID BY BUYER
DELIVERY: ON BOARD VESSEL
Compute for total DPU value.
FIND: INCOTERM & NAMED PLACE
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Practice quiz
25. GIVEN:
28. Mr. Quiambao asked Ms. Wesley to deliver the
SHIPMENT: HIGH RISK CARGO
goods to Mr. Born, Ms. Quiambao arranged for
DELIVERY: WAREHOUSE OF SHIPPING
the receiving of the goods as soon as it arrives at
LINES
the nominated place of delivery. Ms. Wesley
OCEAN FREIGHT: PRE PAID
prepared for the insurance and the airway bill
MARINE INSURANCE: INCLUDED IN
reflected freight pre-paid.
INVOICE PRICE
PORT OF DISCHARGE: PORT OF CEBU
If Ms. Wesley is in Stratford, Australia, Mr.
EXPORT CLEANING: PAID BY SELLER
Quiambao is in Davao, Philippines and Mr. Born
PORT OR ORIGIN: JAKARTA
is in Edge Hill, Australia. What incoterm must
be used, should Mr. Quiambao have purchased
FIND: INCOTERM & NAMED PLACE
for the insurance and the freight is still in the
account of Ms. Wesley?
26. GIVEN:
SHIPMENT: HIGH RISK CARGO
A. CPT, Edge Hill Cairns, Australia, Incoterms
AIR FREIGHT: PRE PAID FROM JAPAN TO
2020
NAIA
B. CPT, Davao International Airport,
ORIGIN LCL CHARGES: INCLUDED IN
Philippines, Incoterms 2020
SELLER'S INVOICE
C. CIP, Edge Hill Cairns, Australia, Incoterms
DESTINATION INLAND FRT: PAID BY
2020
SELLER
D. CIP, Davao, International Airport,
DELIVERY: BUYER'S WAREHOUSE IN
Philippines, Incoterms 2020
TONDO, MANILA
PORT OF LOADING: TOKYO, JAPAN
29. Mr. Quiambao asked Ms. Wesley to deliver the
PORT TO PORT INSURANCE : PAID BY
goods to Mr. Born, Ms. Quiambao arranged for
BUYER
the receiving of the goods as soon as it arrives at
UNLOADING AT BUYER'S WAREHOUSE:
the nominated place of delivery. Ms. Wesley
DONE BY BUYER
prepared for the insurance and the airway bill
reflected freight pre-paid.
FIND: INCOTERM & NAMED PLACE
If Ms. Wesley is in Stratford, Australia, Mr.
27. Mr. Quiambao asked Ms. Wesley to deliver the
Quiambao is in Davao, Philippines and Mr. Born
goods to Mr. Born, Mr. Quiambao arranged for
is in Edge Hill, Australia. Which Incoterm
the receiving of the goods as soon as it arrives at
should best describe the transaction if Ms.
the nominated place of delivery. Ms. Wesley
Wesley concluded the transaction at the location
prepared for the insurance and the airway bill
of Mr Born?
reflected freight pre-paid.
A. FCA, Stratford Cairns, Australia, Incoterms
If Ms. Wesley is in Stratford, Australia, Mr.
2020
Quiambao is in Davao, Philippines and Mr. Born
B. FCA, Edge Hill Cairns, Australia, Incoterms
is in Edge Hill, Australia.
2020
What is the appropriate incoterm for this
C. CIP, Edge Hill Cairns, Australia, Incoterms
transaction?
2020
D. CIP, Davao International Airport, Philippines,
A. FCA, Stratford, Australia, Incoterms 2020
Incoterm 2020
B. FCA, Edge Hill , Australia, Incoterms 2020
C. CIP, Edge Hill , Australia, Incoterms 2020
30. Ms. Jennie delivered the ordered goods on board
D. CIP, Davao International Airport, Philippines,
vessel as agreed with Ms Tan. Ms. Jennie will
Incoterms 2020
not be responsible for the contract of carriage
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Practice quiz
since Ms. Tan arranged it with Mr. George. The If Ms. Jennie is in Escolta, Manila, Philippines
insurance was taken by Ms. Tan, with Mr. Ms. Tan is in Keelung Taiwan and Mr. George
George being paid by Ms Tan for the unloading unloaded the bulk shipment in Taipei, Taiwan.
of the bulk shipment in the destination. What should be the appropriate incoterm if Ms
Jennie will be responsible for the contract of
If Ms. Jennie is in Escolta, Manila, Philippines carriage after delivery on board vessel and
Ms. Tan is in Keelung Taiwan and Mr. George insurance is for the other party?
unloaded the bulk shipment in Taipei, Taiwan.
What is the correct incoterm for this transaction? A. FOB, Port of Manila, Philippines, Incoterms
2020
A. FOB, Port of Manila, Philippines, Incoterms B. FOB, Taipei, Taiwan, Incoterms 2020
2020 C. CFR, Port of Taipei, Taiwan, Incoterms 2020
B. FOB, Taipei, Taiwan, Incoterms 2020 D. CIF, Port of Taipei, Taiwan, Incoterms 2020
C. CIF, Port of Manila, Philippines, Incoterms
2020 II. Conversion:
D. CFR, Port of Taipei, Taiwan, Incoterms 2020
33. Querty Co. imported logs from Cambodia
31. Ms. Jennie delivered the ordered goods on board having a total dimension of 8,640 cubic inches.
vessel as agreed with Ms Tan. Ms. Jennie will Find the total CIF value if the CIF per cubic foot
not be responsible for the contract of carriage is at $ 50.00
since Ms. Tan arranged it with Mr. George. The 34. A shipment of 1,000 meters of Stainless Steel
insurance was taken by Ms. Tan, with Mr. having FOB value of US $ 1.50/ft arrived at
George being paid by Ms Tan for the unloading Manila North Port. Compute the FOB Value.
of the bulk shipment in the destination. 35. AAA Denim imported 3,280.80 ft of silk fabric
from China at $ 3.00/meter FOB. What is the
If Ms. Jennie is in Escolta, Manila, Philippines total FOB?
Ms. Tan is in Keelung Taiwan and Mr. George 36. ABC imported 176,366.84 oz of chewing
unloaded the bulk shipment in Taipei, Taiwan. tobacco from Germany at $10.00/kg CIF.
What incoterm must be reflected in the invoice, Determine the total CIF.
should delivery be concluded at the project site 37. A A garment maker imported 6,561.60ft of Silk
of Ms. Tan with Ms. Jennie being responsible for Fabric from China at US $3.00 per meter CIF
unloading the goods at the premises of Ms. Tan? value. What is the total CIF value of the said
shipment.
A. DAP, Escolta Manila, Philippines, Incoterms 38. A shipment of nylon yarn from Vietnam weighs
2020 5,000 kgs at EXW US$ 4.50 per pound.
B. DAP, Keelung, Taiwan, Incoterms 2020 Determine EXW value
C. DPU. Escolta Manila, Philippines, Incoterms 39. A shipment of 10 boxes of furniture having per
2020 box dimension of 0.8m X ).9 m X 1.0m and total
D. DPU, Keelung Taiwan, Incoterms 2020 gross weight of 15,000 lbs. Determine the total
gross weight in MT.
40. For a given shipment STC: 10 boxes of spare
32. Ms. Jennie delivered the ordered goods on board parts with dimension: 3X4x5 per box and total
vessel as agreed with Ms Tan. Ms. Jennie will gross weight of 15,500.00 kgs. Determine the
not be responsible for the contract of carriage equivalent revenue ton.
since Ms. Tan arranged it with Mr. George. The 41. A&A Meat shop imported from SIngapore
insurance was taken by Ms. Tan, with Mr. 2,500,000 grams of frozen meat and the FOB
George being paid by Ms Tan for the unloading value is $300 per MT. Compute for the FOB
of the bulk shipment in the destination. value.
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Practice quiz
42. Flying B imported from India 20,000 deciliters
of gasoline arrived at P02A. If the CFR value is
$5.00 per liter, what is the total cfr?
43.
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