TACN3 - Gap-filling questions (Unit 6-10)

6 - Clean collection is payment by bill of exchange to which ________________ are not attached

documents

6 - ________________ is a document that shows details of goods being transported.

bill of lading

6 - ________________ is a bank that issues a letter of credit

issuing bank

6 - ________________ is a bank that receives payments of bills, ect for their customer's account

collecting bank

6 - ________________ is document allowing someone claim ownership of good

document of title

6 - ________________ is promise or guarantee given to or by a bank

undertaking

6 - ________________ is load of goods sent to a customer

consignment

6 - Letter of credit may be either ________________ but the latter is more frequent.

revocable or irrevocable

6 - The ________________ letter of credit is used when a series of identical shipments is made over a fixed period of time.

revolving

6 - The ________________ letter of credit is two letters of credit that are identical except for the amounts.

back-to-back

6 - If the importer ________________ the bill, the exporter may have to find an alternative buyer or ship the goods back again

accepts

6 - In some parts of the world, banks may be slow to ________________ to the exporter's bank

remit payment

6 - Normally, the exporter only accepts open account method of payment if he has known the buyer quite well and they have established a long-term ________________ business relationship

trustworthy

6 - ________________ letter of credit is a letter of credit permitting the beneficiary to receive a sum prior to shipment

red clause

6 - ________________ letter of credit is a letter of credit that can be utilized by someone designated by the original beneficiary.

transferable

6 - ________________ letter of credit is a letter of credit that can be drawn against, but only if another business transaction is not performed.

standby

6 - ________________ is a draft that has been drawn to be payable after a specific number of days

usance draft

6 - ________________ is used to finance specified short-term self-liquidating transactions, including foreign trade.

banker's acceptance

6 - ________________ is the payment method that the buyer agrees to make payment of whole grand values or partial values to the seller before the seller sends the cargo.

advance

6 - ________________ is a bank that confirms they will pay the exporter on evidence of shipment of goods.

confirming

6 - ________________ letter of credit is a letter of credit issued by one bank to which a second bank adds its commitment to pay

confirmed

6 - ________________ is payment by bill of exchange to which commercial documents are attached.

documentary collection

6 - International payment is the transmission of some commonly accepted ________________ assets in exchange for goods, services, or ________________ assets across national borders.

monetary / financial

7 - The ________________ assumes that the producer's task is to find wants and fill them.

marketing concept

7 - ________________ - components and equipment for producers of other goods.

industrial goods

7 - Marketers are consequently always looking for ________________ profitable possibilities of filling unsatisfied needs or creating new ones in areas in which the company is likely to enjoy a differential advantage due to its distinctive competencies.

market opportunities

7 - ________________ involves altering the pattern of demand through flexible pricing, promotion, and other incentives.

synchromarketing

7 - ________________ is the attempt to destroy unwholesome demand for products that are considered undesirable.

countermarketing

7 - ________________ who also talk to customers, are another source of information about the size of potential market, about consumers' reactions to particular products or services features, and so on.

sale representitives

7 - Find new target markets, change product features, develop more effective communication is ________________

remarketing

7 - All the companies or individuals involved in moving a particular good or service from the producer to the consumers is ________________

distribution channel

7 - ________________ usually includes four P's which are product, price, place, promotion.

marketing mix

7 - ________________ is the difficult task of reversing negative demand.

conversational marketing

7 - Dividing a market into instinct group of buyers who have different requirements or buying habit is ________________

market segmentation

7 - ________________ is where people buy products for direct consumption.

consumer market

7 - ________________ measures the size of the potential market and develops the goods and services that will satisfy it.

developmental marketing

7 - Price wars and competition occur as the market reaches ________________

saturation

7 - A set of trading conditions or the business environment is called ________________

marketplace

7 - ________________ to carry out transactions with potential buyers, including warehouses, transportation companies, banks and insurance companies that facilitate transactions.

service channels

7 - ________________ reflects the sum of the perceived tangible and intangible benefits and costs to customers.

value

7 - In the introduction stage, if the product has few competitors, a ________________ strategy can be used.

skimming price

7 - The act of raising prices, reducing promotion and the level of service is known as ________________

demarketing

7 - ________________ : Places where goods are sold to the public-shops, stores, kiosks, market, stalls, etc.

points of sale

7 - ________________ is necessary when there is no demand.

stimulational marketing

7 - ________________ is a domain that involves scaling brands and products online to bring about value addition by making use of a plethora of concepts.

digital marketing

7 - In the ________________ phase sales growth slows and then stabilizes.

maturity

7 - The marketing strategy can be applied in the face of competition or changing tastes is ________________

maintenance marketing

7 - ________________ involves collecting, analysing and reporting data relevant to a specific market situation (such as a proposed new product).

market research

7 - The percentage of the total sales is ________________

market share

7 - ________________ : More than is needed or wanted.

superfluous

7 - Needs become ________________ when they are directed to specific objects that might satisfy the need.

wants

7 - A name or a symbol that cannot be used by another producer is ________________

trademark

7 - An idea for a new product, which is tested with target consumers before the actual product is developed is called ________________

product concept

8 - ________________ is the ability to rapidly and cost effectively adapt to market changes with no significant negative impact on quality.

agility

8 - ________________ encompasses the planning and management of all activities involved in sourcing and procurement conversion, and all logistics management activities.

supply chain management

8 - ________________ can take various forms, including technical / subject matter know-how, a reliable process and/or close relationship with customers and suppliers.

core competency

8 - ________________ is an organization which provides logistics services as an intermediary between the shipper and the carrier.

freight forwarder

8 - Logistics management activities typically include ________________ transportation management, fleet management, warehousing, materials handling.

inbound and outbound

8 - ________________ logistics is a comprehensive, system-wide view of the entire supply chain as a single process from raw materials supply through finished goods distribution.

integrated

8 - ________________ is a computerized system to electronically transmit logistics information

logistics data interchange

8 - ________________ is the total time that elapses between an order's placement and its receipt.

lead time

8 - ________________ is a term describing the process whereby machines are remotely monitored for status and problems reported and resolved automatically

Machine-to-Machine interface

8 - New product release phase-in and ________________ includes costs associated with releasing new products to the field, maintaining released products, assigning product ID, ect

maintenance

8 - Customer Invoicing, also called ________________ includes costs associated with invoicing, processing customer payments and verification of customer receipt.

customer accounting

8 - ________________ is a transportation document that is the contract of carriage containing the terms and conditions between shipper and carrier

bill of lading

8 - ________________ should be understood, defined and measured for each level in the organization to include market segments, products, processes, activities and resources

capacity management

8 - ________________ is a measure of the total carbon emissions for a given person, organization, building, operation and the impact their carbon emission has on the environment.

Carbon Footprint

8 - Goods is a common term indicating ________________ property, merchandise or wares.

tangible

8 - ________________ is a symbol consisting of a series of printed bars representing values.

barcode

8 - ________________ is the network of supply chain participants engaged in storage, handling, transfer, transportation and communications functions that contribute to the efficient flow of goods

logistics network

8 - There is usually a carbon trade off between more ________________, centralized warehouses and transport costs, but, generally, cost and carbon reduction go together.

fewer

8 - ________________ refers not only to the quality of the product, but also to the quality of the network

supply chain quality

8 - ________________ is product which has been ordered by a customer but out of stock and promised to ship when the product becomes available

backorder

8 - ________________ is transportation available to the public that does not provide special treatment to any one party .

common carrier

8 - Market-positioned warehouse: warehouse positioned to ________________ customer inventory assortments and to afford maximum inbound transport consolidation economies from inventory origin points with relatively short-haul local delivery.

replenish

9 - The party to an insurance arrangement who undertakes to indemnify for losses is the ________________.

insurer

9 - ________________ covers the loss or the damage of ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destination.

ocean marine insurance

9 - ________________ covers the subject matter insured from one port or place to another port or place.

voyage policy

9 - A ________________ is one that is unforeseen and unexpected by the insured and occurs as a result of chance.

fortuitous loss

9 - The insurance will be ________________ if you omit any relevant information.

void

9 - The _______________________ states that the insurer agrees to pay no more than the actual amount of the loss; stated differently, the insured should not profit from a loss.

principle of indemnity

9 - Risk transfer means that a ________________ is transferred from the insured to the insurer, who typically is in a stronger financial position to pay the loss than the insured.

pure risk

9 - An insurance contract is based on the principle of ____________________ - a higher degree of honesty is imposed on both parties to an insurance contract that is imposed on parties to other contracts.

utmost good faith

9 - One of the purposes of ________________ is to prevent the insured from collecting twice for the same loss.

subrogation

9 - If you apply for life insurance, your answers to these questions concerning your age, weight, height, occupation, state of health, family history, and other relevant questions are known as ________________.

representations

9 - A ________________ is intentional failure of the applicant for insurance to reveal a material fact to the insurer.

concealment

9 - A ________________ proves you have insurance while the policy is being processed.

binder

9 - The __________________ is the person, group, or property for which an insurance policy is issued.

insured

9 - Most property insurance contracts are contracts of indemnity, and one measure of recovery is the ________________ of the insured.

actual cash value

9 - ________________ means that if the insurer knew the true facts, the policy would not have been issued, or it would have been issued on different terms.

materiality

9 - In these ___________________ it is important to keep the value of your policy closely linked to the value of your property.

inflationary times

9 - You’re allowed 30 days’ ________________ for the payment of the renewal premium.

grace

9 - A ________________ is a statement that becomes part of the insurance contract and is guaranteed by the maker to be true in all respects.

warranty

9 - ________________ are who work with several companies, selling insurance in return for a commission.

independent agents

9 - A flexible type of insurance for 12 months, at agreed rates, is ________________.

open cover

9 - Loss or damage proximately caused by ________________, or the nature of the subject matter insured, is excluded.

inherent vice

9 - ________________ is a policy effected for a fixed sum insured sufficient to cover a relatively large number of the assured’s shipments.

floating policy

9 - ________________ are expenses and damages incurred as the result of damage to a ship and its cargo and/or of taking direct action to prevent initial or further damage to the ship and its cargo. These expenses and damages are paid by the owner of the part of the ship and cargo which actually suffers a loss.

particular average

9 - A person who assesses insurance claims is called a ________________.

loss adjuster

9 - If an assured is guilty of ________________, such as an owner scuttling their own ship, they cannot reasonably expect their insurer to pay for the loss.

willful misconduct