John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. D. Fixed exchange system, _____ denotes a whole range of barter-like agreements and its principle is to trade goods and services for other goods and services when they cannot be traded for money. managed by governments that provide export subsidies. This is a one-time deal, because as soon as the goods are purchased, they'll no longer be available. Prepare documentation as master BOL, shippers export declarations, cargo release, pickups, delivery orders and others. Question: Which of the following is true of export agents? Once you've obtained the level of education you're comfortable with, you might start applying to companies to become an import-export agent. C. A is an entry strategy for a single target country in which partners share ownership of a newly created business entity. In the principal-agent model, the principle, who makes decisions, hires an agent to carry out their instructions. is a time draft that has been drawn on and accepted by a bank. \text { Selling and administrative expenses } & 45,000 & 45,000 \\ is the same as a letter of credit. B. It gives the importer time to resell the merchandise before payment. For example, the U.S. might enter into a trade agreement with Japan where Japan agrees to buy a certain amount of American-made automobiles in exchange for the U.S. increasing its imports of Japanese rice. In essence the export agent becomes the exporters export department. Draft A(n) _____ can help new exporters identify opportunities and avoid common pitfalls. The agent may travel abroad, do research, prepare an export plan, advise the exporter on how to adapt their marketing mix, make contact with potential buyers, negotiate deals with the buyers, take care of all promotional activities, handle the logistics and documentation, and much more. C. Export selling requires the use of marketing research and identification of market potential. Some of the benefits of the agent option are the reduced start-up costs and the limited working capital you need. C. European Union Which of the following statements is true of export credit insurance? ", While some skills are similar in these professions, other skills aren't so similar. C. It is the most comprehensive source of export opportunities information. Robinson. A _____ allows for a delay in paymentnormally 30, 60, 90, or 120 days. These professions include a freight forwarder, freight broker, warehouse assistant, and transportation broker. C. A letter of credit does not give protection to the importer. RoomCostperSqYd103158$20.50\begin{aligned} C. Export agents, merchants, or remarketers purchase products directly from the manufacturer, packing and labeling the products according to their own specifications. A. 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. A. B. On average, the import-export agent annual salary is $47,326 per year, which translates to $22.75 an hour. Here are examples of responsibilities from real import-export agent resumes representing typical tasks they are likely to perform in their roles. The FCIA provides coverage against commercial risks and political risks. B. The import/export business has two main types of agents: Traditional import/export agents: An export agent works in the country where the product is produced. \text { Operations } A. A. B. Responsibilities for this career vary depending on the field and type of company for which the agent works. Export selling is early entry mode and less engaged compared with export marketing. Duties may also be different depending on where the agent is in the supply chain. 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. The automatic machine has an estimated useful life of five years and no significant residual value. 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. D. from the exporter's bank. Bank charges on letters of credit will depend on the: The skills they must acquire include road transportation, packing, stocking, loading, shipping, and general labor. View more details on import-export agent salaries across the United States. B. Which of the following is a disadvantage of countertrade? Generally speaking, import-export agents earn anywhere from $33,000 to $67,000 a year, which means that the top-earning import-export agents make $26,000 more than the ones at the lower end of the spectrum. exporter's creditworthiness. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. A. You'd identify sellers of that product overseas and represent the buyer in foreign markets as the import agent.
\n \nBrokers: A broker is an independent agent who brings buyers and sellers together. Exports are goods and services that are produced domestically, but then sold to customers residing in other countries. B. \end{array} bill of exchange, The Export-Import Bank is an independent agency of the _____. They systematically scan foreign markets for profitable export opportunities. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor.
\nOn the downside, when you're doing business as an agent, you run the risk that the parties will bypass your firm and deal directly with each other on any future transactions.
\nTo minimize the risk of being eliminated from future transactions, remember that an agent is not someone who makes a call and brings people together just to earn a commission. Trained and mentored import/export operations for areas of improvement within the import/export department. Instead, she's traditionally hired to bring together one-of-a-kind or nonrecurring deals. Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. Lockheed Martin Corporation owned an aluminum refinery in St. Croix, Virgin Islands, The growth of economies of developing countries is often fueled by massive exports of commodities and raw materials to developed nations. Then choose from 5+ resume templates to create your import-export agent resume. Exports lead to an inflow of funds to the sellers country since export transactions involve selling domestic goods and services to foreign buyers. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. Letter of credit. D. D. sight draft EMCs are export-import banks that manage foreign exchanges. D. A. C. These skill sets are where the common ground ends though. D. _____ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement. Why or why not? Offsetting \end{array} Offset ASEAN countries \end{array} & \begin{array}{c} Countertrade may involve the exchange of unusable goods. 1,5004,000Sellingandadministrativeexpenses45,00045,000Totalexpenses$174,500$139,000\begin{array}{lcr} They consider exporting only after their domestic market is saturated. D. A. B. It helps a firm achieve economies of scale. 10^{\prime} 3^{\prime \prime} \times 15^{\prime} 8^{\prime \prime} & \$ 20.50\\ Next up, we have the freight broker profession to look over. Switch trading The importer must pay a bank fee for the letter of credit. 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. For the most part, brokers work for sellers, although some brokers do represent buyers. Sales, whether foreign or domestic, are treated as domestic sales. Which of the following statements is true about Small Business Administration (SBA)? See the full list of import-export agent skills. Review and analyze standard operating procedures to insure compliance, TSA, ISO, TAPA, IMDG. Countertrade prevents exchange of unusable or poor-quality goods. Brokers: A broker is an independent agent who brings buyers and sellers together. Governments provide subsidies to domestic businesses in order to reduce their business costs. C. A. Create ITN number, filling for AES regulation. In general, freight brokers study at similar levels of education than import-export agents. to insure that products are delivered that have already been paid for. All of these tasks, the export will do on the exporters behalf. A. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." that produced hazardous waste. The exporter cannot avail pre-export financing when using a L/C. B. to Lockheeds suit? 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. 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. A. Possible values are. D. C. E. To combine export shipments within single containers. This is a unique website which will require a more modern browser to work! MCQ11 MLIN13 08 2021 The decision of where to locate key business activities depends on factors besides costs. In this section, we compare the average import-export agent annual salary with that of a freight forwarder. Promissory note, A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. However, an agent does not take title to the goods and provides fewer services than a distributor","noIndex":0,"noFollow":0},"content":"
An agent is similar to a distributor in that he's a middleman. bill of lading C. sight draft This helps bring down the price of domestic goods and services, hopefully, encouraging consumers to buy domestic rather than imported goods. B. Which of the following is an advantage of countertrade? If you bring a buyer from one country together with a seller from another country, can you earn a commission from both parties? B. C. Select one alternative: O Strategic alliance Joint venture o Greenfield investment O Franchising O Contract manufacturing B. Dummies helps everyone be more knowledgeable and confident in applying what they know. Their primary responsibilities include receiving and sending products from the warehouse. D. countertrade. Specialize - choose your sector and products 4. Countertrade reduces the profitability of competing firms and is considered an unethical practice. A. Countertrade requires the firm to use an out-of-house trading company to which much of the profit will go. B. Since they are not actively engaged in the task, the principal is less informed than the agent. 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. It is an effective way of doing business with developing nations. C. A common pitfall of exporting is trying too hard to customize a product offering rather than "sticking with what you know." D. Enter the required criteria. B. 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. This is a one-time deal, because as soon as the goods are purchased, they'll no longer be available. B. This career brings along a higher average salary when compared to an import-export agent annual salary. The agent's role is to get orders and (usually) earn a commission for his services. barter A. An agent is similar to a distributor in that he's a middleman. The warehouse assistant profession generally makes a lower amount of money when compared to the average salary of import-export agents. An importer obtains a _____ from a local bank in a typical international transaction. A. Countertrade Build a professional import-export agent resume in minutes. A. Because as an agent, you're representing someone. They are taken into account as Net Exports. Letter of credit trade most attractive to large, diverse multinational enterprises. As a receipt, the bill of lading indicates that the carrier: PLEASE READ LAST PARAGRAPH (1) Export Selling requires the use of marketing research and identification of market potential. A. B. D. it reduces the need for insuring businesses against political risks.