C. 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. B. 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. Review and analyze standard operating procedures to insure compliance, TSA, ISO, TAPA, IMDG. B. Show transcribed image text Expert Answer 100% (1 rating) Answer Option 3 is correct. SBA is a private organization managed by leaders of large corporate. It is the most comprehensive source of export opportunities information. Countertrade uses instruments such as time draft and sight draft. ", While some skills are similar in these professions, other skills aren't so similar. \text { Power and maintenance } & 5,000 & 18,000 \\ C. D. The person or business initiating a draft is known as the ____. These skill sets are where the common ground ends though. For example, suppose CADE International is an import/export agent headquartered in New York. c) They never take products on consignment. gives a bank guarantee to an exporter. 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. 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 markets. C. Letter of credit trade It provides large revenue and profit opportunities. B. Warehouse assistants oversee a warehouse's stocks and products. B. Need A Perfect Import-Export Agent Resume? A. D. B. offset Utilize Internet, multiple FedEx systems for customer databases, spreadsheets & manifest scrolling. If you're interested in companies where import-export agents make the most money, you'll want to apply for positions at C.H. It helps international traders engage in trade with trust. After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming an import-export agent. Browse through our resume examples to identify the best way to word your resume. Export-Import Bank A. \text { Operations } D. B. D. Maintain station reports of KPI performance. Therefore, despite the fact that Sony TVs carry a significantly higher price tag, they still outsell many other brands because consumers are willing to pay more for superior quality. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." D. Private associations cannot offer export insurance in the United States. Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. Or you may work as an import agent based in the country where the product will be sold, in which case you represent the buyers. The logs are particularly useful for debugging problems and monitoring cluster activity. B. A _____ serves as a receipt, a contract, and a document of title. A buyback 10^{\prime} 3^{\prime \prime} \times 15^{\prime} 8^{\prime \prime} & \$ 20.50\\ C. D. B. to Lockheeds suit? Barter Responsibilities for this career vary depending on the field and type of company for which the agent works. If you bring a buyer from one country together with a seller from another country, can you earn a commission from both parties? 2003-2023 Chegg Inc. All rights reserved. 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. They move materials and inventory across the facilities. Financing is difficult when engaging in a countertrade. D. The following figure illustrates the relationship among the agent, the supplier, and the buyer. Resolve customer complaints via phone, email, mail, or social media. \text { Taxes, insurance, etc. } Offset A. You remain responsible for shipping and other trade-related logistics - although your agent should be able to help. Whether it's to pass that big test, qualify for that big promotion or even master that cooking technique; people who rely on dummies, rely on it to learn the critical skills and relevant information necessary for success. C. Study international trade and relevant business disciplines 3. It's their job to sort, organize, and keep stock in the right location. Counterpurchase A. A. D. Work on special projects and unique problems as they occur. bill of exchange Lockheed sold the refinery to 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. offset A. Let us begin by defining an export agent. Their job involves linking carriers and shippers in hauling materials. Sometimes, countries ensure a regular flow of international trade, i.e., a high volume of both imports and exports, by entering into a trade agreement with another country. SellingandadministrativeexpensesTotalexpensesPresentOperations$205,000$72,00051,0005,0001,50045,000$174,500ProposedOperations$205,000$72,00018,0004,00045,000$139,000. Which of the following is true of exporting? Trade agreements typically focus on the exchange of different types of products. Enter on a large scale to flood the market. D. For the most part, brokers work for sellers, although some brokers do represent buyers. Gross Domestic Product (GDP) is the gross market value of the total goods and services produced within the domestic boundaries of a country during a given period of time. filed a suit against Glencore to recover costs related to the settlement. D. Lockheed then time draft B. They take part in the shipping logistics of organizations or companies. exporter's means of finance. A. The _____ is issued to the exporter by the common carrier transporting the merchandise. They're 1.4% less likely to obtain a Master's Degree while being 0.0% more likely to earn a Doctoral Degree. A. In theory, the advantage of EMCs is that they are: maker & 1,500 & 4,000 \\ receiving a cleared payment through bank. B. C) It operates on a contractual basis for a manufacturer by helping obtain orders for . A. A. Securing financing is rarely a problem for exporters. D. The warehouse assistant profession generally makes a lower amount of money when compared to the average salary of import-export agents. A. D. \text { Direct labor } & 51,000 & - \\ _____ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement. Barter importer and exporter maintain an account with the same bank. Prepared required import export container documentation. C. Which of the following statements is true of reactive firms? Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition. Exporting leads to diseconomies of scope. Think of an import/export agent like a real estate agent: The buyer has an agent, and the seller has an agent, but the same agent doesn't represent both the buyer and the seller. letter of credit. C. offset ","slug":"what-is-an-importexport-agent","canonicalUrl":"","seo":{"metaDescription":"An agent is similar to a distributor in that he's a middleman. most attractive to large, diverse multinational enterprises. the export firm) and the firms products. 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. In many countries including the United States, a person must pass a customs broker exam to be licensed to operate in that country. It guarantees the importer extra funds for other purposes. after receiving the product. Select one alternative: O Strategic alliance Joint venture o Greenfield investment O Franchising O Contract manufacturing While most import-export agents have a college degree, you may find it's also true that generally it's possible to be successful in this career with only a high school degree. A. Provide technical helpdesk support for AT&T/Bellsouth Internet Service Clients. Sales, whether foreign or domestic, are treated as domestic sales. A letter of credit does not give protection to the exporter. Total imports and total exports are essential components for the estimation of a countrys GDP. AppDynamics Ansible Collection. The agent's role is to get orders and (usually) earn a commission for his services. Select the best supplier & sign the commission agreement bank statement. time draft The agent's role is to get orders and (usually) earn a commission for his services. If you choose to set up your business working as an agent, decide who you're going to represent and then work at nurturing that relationship. counterpurchase is obligated to provide a transportation service in return for a certain charge. The key is to develop a sound relationship with your connection and continually work toward increasing sales and improving the relationship.

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Representing clients and getting commissions

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The rate of commission when working as an agent depends on the nature and type of product, the nature of the market you're selling to, and the level of competition.

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If you bring a buyer from one country together with a seller from another country, can you earn a commission from both parties? Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. B. Quality of goods must still be factored into the equation. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals. D. counterpurchase after product shipment. 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. For years, wineries in the United States experienced difficulties even selling their products domestically, largely because of the fact that U.S. wines were not considered to be of the same quality as, say, French or Italian wines. 1,5004,000Sellingandadministrativeexpenses45,00045,000Totalexpenses$174,500$139,000\begin{array}{lcr} To allow U.S. companies to bypass tax laws with respect to international trading. Worked with various internal departments to assist with import, export and transportation issues. Ensured accuracy of direct mail processing and preparation operations in accordance with DHL requirements, customer requests, and established procedures. Which of the following is true of exporting? Japan's great trading houses are called _____. letter of credit, A _____ allows for a delay in payment. Here are examples of responsibilities from real import-export agent resumes representing typical tasks they are likely to perform in their roles. If consumers are convinced that a certain product made in country X is of substantially better quality than the same product as made in country Y, then they may continue purchasing the product from manufacturers in country X even if government subsidies to manufacturers in country Y have made it significantly less expensive to buy from country Y. large revenue opportunities are often found in foreign markets. The Foreign Credit Insurance Association provides coverage: They create excess productive capacity and actively hunt for opportunities in foreign markets. B. Analyze documentation to determine the applicability of other government agencies requirements' and collect the necessary information to make proper declarations. MITI John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. C. Call us +30 2610 344578 or Email us Laura@eximagent.eu. A. The agent thus will do most of the marketing of the principle (i.e. The exporter normally pays the agent for the expenses they have incurred marketing the firms products and handling the export administration, and will generally earn a commission on any sales generated. Switch trading, In a(n) ____, one party agrees to purchase goods and services with a specified percentage of the proceeds from the original sale and this party can fulfill the obligation with any firm in the country to which the sale is being made. D. EMCs are export-import banks that manage foreign exchanges. Validate your product idea in real life 5. Trained and mentored import/export operations for areas of improvement within the import/export department. C. Question: Which of the following is true of export agents? Their primary responsibilities include receiving and sending products from the warehouse. In an international transaction involving a bank as a third party, the exporter ships the product after: Since they are not actively engaged in the task, the principal is less informed than the agent. to insure products during shipment. Prepare a differential analysis dated May 4 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. before product shipment. a)They usually produce goods themselves. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals.

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For example, a broker is contacted and advised that Company A in New York has an excess inventory of a soon-to-be-discontinued product. The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? 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. The SBA employs trade officers throughout the United States. 4.UMS should contact Salesforce Support for a free backup. Offset A) manufacturers' agent B) export and import broker C) freight forwarder D) manufacturers' export agent Answer: C Diff: 2 Skill: Application Objective: 3 The Mitsubishi Corporation is a firm that is directly engaged in importing and exporting a wide variety of goods for its own account and is a part of a keiretsu system. ","strippedTitle":"what is an import/export agent? A. To remove antitrust disincentives to export activities. Individuals It is not attractive to small organizations. has obtained the merchandise described on the face of the document. Offset D. Because as an agent, you're representing someone. In this section, we compare the average import-export agent annual salary with that of a freight forwarder. C. The ownership title remains with the distributor even on completion of the transaction. It is also known as National Income (Y). allows a buyer possession of the merchandise without signing any formal documents. Which of the following statements is true of countertrade? C. Counterpurchase B. indemnify Lockheed for pre-closing environmental conditions. A draft used in international transactions: \end{aligned} Sometimes people change their minds about their career after working in the profession. Switch trading, _____ occurs when a third-party trading house buys the firm's counterpurchase credits and sells them to another firm that can better use them. Total imports and total exports are essential components for the estimation of a country's GDP. In fact, they're 3.7% less likely to earn a Master's Degree, and 0.2% less likely to graduate with a Doctoral Degree. A. Letter of credit. Choose 2 options. C. Buyback, A(n) _____ occurs when a firm supplies technology, equipment, training, or other services in a country and agrees to take a certain percentage of the resultant output as partial payment for the contract. Send arrival notices, tracking, arranging inland moves on containers and LCL cargo. \textbf{ Room}& \textbf{Cost per Sq Yd }\\ CADE is aware that XYZ International is a manufacturer of quality women's sweaters in Japan and that Big-Name Department Store is interested in acquiring sweaters to sell to its customers. international trade is protected against exchange risks. A key feature of the traditional export agent is that they never really take ownership of the goods, which always remain under the control of the exporter. Exports lead to an inflow of funds to the sellers country since export transactions involve selling domestic goods and services to foreign buyers. D. C. Countertrade C. And at The IMA Group, they make an average salary of $46,964.