which of the following is true of export agents

Show transcribed image text Expert Answer 100% (1 rating) Answer Option 3 is correct. A. A buyback Arrangements must be made to allow access to your sales ledger as part of the commission . before product shipment. Responsibilities for this career vary depending on the field and type of company for which the agent works. European Union Import or export agents are professionals who are required to act as the middle person for purchasing or selling products between both domestic and overseas companies. 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. \text { Selling and administrative expenses } & 45,000 & 45,000 \\ 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. Governments provide subsidies to domestic businesses in order to reduce their business costs. Here are examples of responsibilities from real import-export agent resumes representing typical tasks they are likely to perform in their roles. B. 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.

An agent

Is independently owned
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Does not take title to the products being purchased and sold
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Is actively involved in the negotiations for either the sale or purchase of the products
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Understanding types of agents

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. Send arrival notices, tracking, arranging inland moves on containers and LCL cargo. c) They never take products on consignment. B. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor.
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On 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.
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To 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. C. B. To initiate a manual export, take these steps: Navigate to Admin in the top menu bar. \text { Total expenses } & \$ 174,500 & \$ 139,000 \\ Imports are the goods and services that are purchased from the rest of the world by a countrys residents, rather than buying domestically produced items. buyback, The main attraction of a(n) _____ is that it can give a firm a way to finance an export deal when there are no other means available. bill of lading C. In essence the export agent becomes the exporters export department. Robinson. SCORE Smaller organizations commonly use countertrade in international transactions. 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. explains the conditions of a contract. We've found that most import-export agent resumes include experience from Expeditors, Yusen Logistics, and C.H. It is the most comprehensive source of export opportunities information. exporter should obtain a letter of credit to initiate transactions. ", Each job requires different skills like "data entry," "booking," "export," and "import export," which might show up on an import-export agent resume. These similarities include skills such as "customer service," "dhl," and "hazardous materials," but they differ when it comes to other required skills. Why? C. Import or export agents must also prepare documents while informing import agents about the details of shipment arrivals. \end{array} Organizations do not receive coverage against political risks of global trade. B. B. Such agreements are aimed at stimulating trade and supporting economic growth for both countries involved. C. A common pitfall of exporting is trying too hard to customize a product offering rather than "sticking with what you know." D. Buyback, _____ occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. The following figure illustrates the relationship among the agent, the supplier, and the buyer. Exporting leads to diseconomies of scope. In a settlement, Lockheed agreed to pay for certain remediation costs. Countertrade requires the firm to use an out-of-house trading company to which much of the profit will go. B. Whereas transportation broker might include skills like "delivery appointments," "logistics," "shippers," and "customer accounts.". For the most part, brokers work for sellers, although some brokers do represent buyers. Only the specified Agent Data Groups are included in the output file. countertrade D. Analyze data for proper processing of time sensitive live customs entries. 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. bill of lading The FCIA provides coverage against commercial risks and political risks. has obtained the merchandise described on the face of the document. For the most part, brokers work for sellers, although some brokers do represent buyers. Cross-selling A. D. Handled all facets of work associated with incoming customer cargo calls, including booking, tracking and tracing cargo. Export selling requires the use of marketing research and identification of market potential. ","strippedTitle":"what is an import/export agent? 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. Switch trading, A(n) _____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract. To 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. Because as an agent, you're representing someone. Imports lead to an outflow of funds from the country since import transactions involve payments to sellers residing in another country. B. A customs broker is a specific term used to identify the intermediary between the importer and the government's customs department in the country of import. Call us +30 2610 344578 or Email us Laura@eximagent.eu. A _____ serves as a receipt, a contract, and a document of title. Of recent, Expeditors had 39 positions open for import-export agents. E. It reduces paperwork and complex formalities. \end{array} Maintain AS400 system to include accurate shipment order entry, AES filing and other pertinent information for LCL and FCL shipments. A letter of credit does not give protection to the exporter. \end{array} \\ B. Barter Meanwhile, there are 19 job openings at Yusen Logistics and 7 at C.H. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor.
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On 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.
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To 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. A(n) _____ can help new exporters identify opportunities and avoid common pitfalls. A letter of credit does not give protection to the importer. Counterpurchase However, an agent does not take title to the goods and provides fewer services than a distributor does. It provides large revenue and profit opportunities. An export agent is a firm (or individual) that undertakes most of the exporting activities on behalf of an exporter usually for a commission. Most firms already know where the market potential and opportunities are and they do not need to be proactive. He is president of CADE International, which provides consulting and training in international business including importing, exporting, licensing, and foreign investment. U.S. government, _____ can avail loans from Ex-Im Bank to pay U.S. suppliers. A. sogo shosha Which of the following statements is true about Small Business Administration (SBA)? Prepare documentation as master BOL, shippers export declarations, cargo release, pickups, delivery orders and others. If you're interested in companies where import-export agents make the most money, you'll want to apply for positions at C.H. Sales, whether foreign or domestic, are treated as domestic sales. Which of the following is true of the distribution process? An offset Which of the following statements is true of exporting? 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. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. B. Additionally, they're less likely to earn a Doctoral Degree by 0.0%. B. Switch trading, _____ is viewed as the most restrictive countertrade arrangement and is primarily used for one-time-only deals in transactions with trading partners who are not creditworthy or trustworthy. The sourcing decision is one of the most complex and important decisions faced by a global company. Export selling is early entry mode and less engaged compared with export marketing. PLEASE READ LAST PARAGRAPH (1) Export Selling requires the use of marketing research and identification of market potential. We also looked into companies who hire import-export agents from the top 100 educational institutions in the U.S. Since they are not actively engaged in the task, the principal is less informed than the agent. B. bill of lading Our AI resume builder helps you write a compelling and relevant resume for the jobs you want. draft counterpurchase It helps in easy currency conversion. C. D. Which of the following is true of exporting? D. C. Governments do not provide much assistance to exporters. D. Does Alcoa have to indemnify Glencore for costs related After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming an import-export agent. The greater the effort you make in developing that relationship and representing the company, the more likely that company will be to maintain the relationship. Which of the following is a common difficulty that traders face when exporting goods or services to other countries? C. C. In addition, criminal violators may be sentenced to prison time up to 20 years and administrative penalties may include the denial of export privileges. An agentData element will be included in the output file if any of the following are true: The export is configured to include an Agent Data Group values. 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. D. the export firm) and the firms products. Firms commonly employ a(n) _____ as third party in international transactions. _____ is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. \end{aligned} D. A. time draft Offset 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. The broker identifies Singapore Electronics, a potential customer in Singapore, for these items. in-house trading department D. Click the Export icon to the right of the export you wish to make. ASEAN countries A banker's acceptance: Switch trading, ____ is primarily used for one-time-only deals in transactions with trading partners who are not creditworthy or trustworthy. b) They usually handle domestic transactions for firms. (X-M) in the above equation represents net exports. B. is a sight draft that can be used as a negotiable instrument in banks. It helps a firm achieve economies of scale. \begin{array}{lc} D. They refrain from handling consulting activities. letter of credit C. Barter Coordinated all aspects of air/ocean freight, abiding by export customs regulations and demonstrating knowledge in a team-oriented, deadline-driven environment. D. Review and analyze standard operating procedures to insure compliance, TSA, ISO, TAPA, IMDG. The Foreign Credit Insurance Association provides coverage: Deal with international shipments The automatic machine has an estimated useful life of five years and no significant residual value. managed by governments that provide export subsidies. 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. A. A common pitfall of exporting is a poor understanding of competitive conditions in the foreign market. However, as the quality of U.S. vintages improved and became acknowledged in the marketplace, sales by U.S. wineries not only reduced imports of foreign wines but also began to develop a sizable export business as many European consumers began buying wines produced in the States. See 10+ resume templates and create your resume here. A. draft, _____ can be used when a government restricts the convertibility of its currency to preserve its foreign exchange reserves so they can be used to service international debt commitments and purchase crucial imports. Obviously, drawing a commission from both parties would create an ethical dilemma. B. most attractive to large, diverse multinational enterprises. D. United States buyback For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. Those import-export agents who do attend college, typically earn either a business degree or a accounting degree. \text { Taxes, insurance, etc. } 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. Small firms tend to be more aggressive than larger firms in global trade. B. Lockheed Martin Corporation owned an aluminum refinery in St. Croix, Virgin Islands, GDP = C + I + G + X - M Where: C = Consumer expenditure I = Investment expenditure G = Government expenditure X = Total exports M = Total imports Net Exports D. exporter's creditworthiness. 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. C. letter of credit. The initial investment and costs of doing business as an agent are significantly lower than those that come along with operating as a distributor. Individuals The greater the effort you make in developing that relationship and representing the company, the more likely that company will be to maintain the relationship.
","blurb":"","authors":[{"authorId":9054,"name":"John J. Capela","slug":"john-j-capela","description":"
John Capela has taught marketing, management, and international business courses at St. Joseph's College in New York for 20 years. MCQ11 MLIN13 08 2021 The decision of where to locate key business activities depends on factors besides costs. Exporting goods and Hazardous material, Schedule and book urgent airfreight shipments through World Port. Steps to getting started as an export-import agent 1. sight draft A is an entry strategy for a single target country in which partners share ownership of a newly created business entity. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). Dummies helps everyone be more knowledgeable and confident in applying what they know. B. indemnify Lockheed for pre-closing environmental conditions. B. That's why we looked into some other professions that might help you find your next opportunity. C. Offset C. Imposing tariffs is one way a country can work to improve its balance of trade. C. B. Robinson, PrincePerelson & Associates, and The IMA Group. C. As a receipt, the bill of lading indicates that the carrier: Brokers: A broker is an independent agent who brings buyers and sellers together. A. The commercial invoice is a legal document between the exporter and the buyer (in this case, the foreign buyer) that clearly states the goods being sold and the amount the customer is to pay. C. A _____ allows for a delay in paymentnormally 30, 60, 90, or 120 days. 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. Possible values are. Fines for export violations, including anti-boycott violations, can reach up to $1,000,000 per violation in criminal cases, and $250,000 per violation in most administrative cases. Among the necessary skills for this job include customer service, negotiation, communication, and marketing. it reduces the need for insuring businesses against political risks. An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." An EMC is a transportation company that engages in international business. EMC D. Freight forwarders tend to reach similar levels of education than import-export agents. United Nations D. View more details on import-export agent salaries across the United States. Offset D. In fact, freight forwarders are 1.1% more likely to graduate with a Master's Degree and 0.0% less likely to have a Doctoral Degree. The names of any groups the agent belongs to. A. Kim Kwon Digital Components Company assembles circuit boards by using a manually operated machine to insert electronic components. Samurai, In the _____ program organized by the U.S. Department of Commerce, department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers. They take part in the shipping logistics of organizations or companies. While looking through the resumes of several import-export agents and warehouse assistants we discovered that both professions have similar skills. Please upgrade today! _____ are export specialists that act as the export marketing department or international department for their client firms. So much so that the likelihood of them earning a Master's Degree is 0.2% less. Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? A. B. A. For example, several resumes showed us that import-export agent responsibilities requires skills like "data entry," "booking," "export," and "import export." The person or business initiating a draft is known as the ____. international trade is protected against exchange risks. Their job involves linking carriers and shippers in hauling materials. Train fellow employees on specialized accounts. This career brings along a higher average salary when compared to an import-export agent annual salary. A. D. D. To earn the highest possible profits in foreign countries. Export Agents, Merchants, or Remarketers. B. A. Which of the following statements is true of countertrade? An export agent is a firm (or individual) that undertakes most of the exporting activities on behalf of an exporter usually for a commission. 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. B. Then choose from 5+ resume templates to create your import-export agent resume. List of Excel Shortcuts 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. importer and exporter maintain an account with the same bank. 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. A. They are taken into account as Net Exports. D. SalesDirectmaterialsDirectlaborPowerandmaintenanceTaxes,insurance,etc. Experts are tested by Chegg as specialists in their subject area. C. C. Post a Job on Zippia and take the best from over 7 million monthly job seekers. to insure products during shipment. A. B. The top three companies that hire the most from these institutions include Expeditors, Kuehne+Nagel, and FedEx. D. Countries vary considerably with regard to how important imports and exports, and their overall balance of trade is to their economies. bill of exchange Export-Import Bank \text { Direct labor } & 51,000 & - \\ D. Dummies has always stood for taking on complex concepts and making them easy to understand. Robinson, the average import-export agent salary is $52,549. not-for-profit organizations that provide free service. C. 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. They systematically scan foreign markets for profitable export opportunities. Create ITN number, filling for AES regulation. B. Product and field research 6. counterpurchase C. letter of credit An import-export agent responsibility is more likely to require skills like "data entry," "export," "international shipments," and "air freight." So the broker brings Company A and Singapore Electronics together for this one-time deal, and in return, the broker receives a commission from Company A. B. Domestic borrowers It's their job to sort, organize, and keep stock in the right location. Some companies may employ an agent for very specific tasks such as undertaking marketing research or handling the export administration and logistics only. Barter It guarantees the importer extra funds for other purposes. For example, gathering from import-export agents resumes, they are more likely to have skills like "data entry," "booking," "export," and "import export." New role of Greece in Food & Beverage trade field confronting new labour, production and supply conditions in Europe with COVID-19 underneath. D. Governments decrease excessive import activity by imposing tariffs and quotas on imports. 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. B. RoomCostperSqYd103158$20.50\begin{aligned} D. For example, you may know a company in the U.S. that's looking to buy a certain kind of product overseas. matchmaker We reviewed their content and use your feedback to keep the quality high. trustee, A _____ is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time. Because as an agent, you're representing someone. EMCs are export-import banks that manage foreign exchanges. Countertrade the importer has paid the bank. D. In some cases, the principle will want to keep tight control over the agents activities, while in other instances, the agent is given free reign. C. Explain your reasoning. They are taken into account as "Net Exports". Total imports and total exports are essential components for the estimation of a country's GDP. This is useful when you want to run agents with outer orchestration, such as Azure Container Instances. A. In general, freight brokers study at similar levels of education than import-export agents. The platform the agent is installed on. The exporter cannot avail pre-export financing when using a L/C. Prepare a differential analysis dated May 4 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Offset importer's bank sends a letter of credit to the exporter's bank. Prepare paperwork for consolidated boxes Support the import department & interact with the brokerage department for customs clearance shipment.

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