Transcript Document

1. Compared with rail carriers, motor
carriers carry __________ ton-miles
and earn _________ revenues
a.
b.
c.
d.
more, less
more, more
less, more
less, less
1. Compared with rail carriers, motor
carriers carry __________ ton-miles
and earn _________ revenues
a.
b.
c.
d.
more, less
more, more
less, more
less, less
2. All of the following are assumptions of
the EOQ except:
a.
b.
c.
d.
e.
constant and known rate of demand
consistent lead time
no stock-outs allowed
capital availability is limited
no inventory in transit
2. All of the following are assumptions of
the EOQ except:
a.
b.
c.
d.
e.
constant and known rate of demand
consistent lead time
no stock-outs allowed
capital availability is limited
no inventory in transit
3. All the following are inventory risk
costs except:
a.
b.
c.
d.
e.
obsolescence
taxes
damage
shrinkage
relocation costs
3. All the following are inventory risk
costs except:
a.
b.
c.
d.
e.
obsolescence
taxes
damage
shrinkage
relocation costs
4. The demand for transportation
services is identified as which of the
following?
a.
b.
c.
d.
Electronic
Elusive
Derived
Compensated
4. The demand for transportation
services is identified as which of the
following?
a.
b.
c.
d.
Electronic
Elusive
Derived
Compensated
5. Which type of motor carrier typically
has shipments headed for more than
one destination?
a.
b.
c.
d.
PUD
Class III
TL
LTL
5. Which type of motor carrier typically
has shipments headed for more than
one destination?
a.
b.
c.
d.
PUD
Class III
TL
LTL
6. What did the 3R Act establish?
a.
b.
c.
d.
Amtrak
Conrail
Government control over Amtrak
Federal regulation of the pipelines
6. What did the 3R Act establish?
a.
b.
c.
d.
Amtrak
Conrail
Government control over Amtrak
Federal regulation of the pipelines
7. Which category dominates the for-hire
segment of the water carrier
industry?
a.
b.
c.
d.
common
contract
exempt
regulated
7. Which category dominates the for-hire
segment of the water carrier
industry?
a.
b.
c.
d.
common
contract
exempt
regulated
8. How does a LASH ship differ from a
ship that offers container service?
a. the LASH ship travel inland waterways
b. container service involves only inland
waterways
c. the LASH ship carries loaded barges
d. container service is for make-bulk
shipments
8. How does a LASH ship differ from a
ship that offers container service?
a. the LASH ship travel inland waterways
b. container service involves only inland
waterways
c. the LASH ship carries loaded barges
d. container service is for make-bulk
shipments
9. Which of the following is not a legally
defined form of transportation?
a.
b.
c.
d.
e.
common carriers
contract carriers
exempt carriers
private carriers
preferred carriers
9. Which of the following is not a legally
defined form of transportation?
a.
b.
c.
d.
e.
common carriers
contract carriers
exempt carriers
private carriers
preferred carriers
10.Generally, at higher volumes of
throughput, a firm should utilize:
a.
b.
c.
d.
a public warehouse
a federal warehouse
a local warehouse
a private warehouse
10.Generally, at higher volumes of
throughput, a firm should utilize:
a.
b.
c.
d.
a public warehouse
a federal warehouse
a local warehouse
a private warehouse
11. All of the following are true of Charter
(or Tramp) shipping industry, except:
a. consist mostly of shiploads of one
commodity
b. very cost oriented
c. usually meant for a single shipper
d. operate on fixed routes
11. All of the following are true of Charter
(or Tramp) shipping industry, except:
a. consist mostly of shiploads of one
commodity
b. very cost oriented
c. usually meant for a single shipper
d. operate on fixed routes
12. Federal regulation of the railroads
started in:
a.
b.
c.
d.
1906
1873
1887
1898
12. Federal regulation of the railroads
started in:
a.
b.
c.
d.
1906
1873
1887
1898
13.Which type of warehouse stores items
for producers that wish to postpone
payment of taxes on imported items
stored?
a.
b.
c.
d.
field warehouse
private warehouse
federal warehouse
bonded warehouse
13.Which type of warehouse stores items
for producers that wish to postpone
payment of taxes on imported items
stored?
a.
b.
c.
d.
field warehouse
private warehouse
federal warehouse
bonded warehouse
14.Which charter vessel arrangement
transfer full control of the ship to the
charterer?
a.
b.
c.
d.
voyage
time
demise
liner
14.Which charter vessel arrangement
transfer full control of the ship to the
charterer?
a.
b.
c.
d.
voyage
time
demise
liner
15. The domestic waterway industry in
the United States was regulated by an
Act of Congress in:
a.
b.
c.
d.
e.
1912
1920
1940
1942
never regulated at all
15. The domestic waterway industry in
the United States was regulated by an
Act of Congress in:
a.
b.
c.
d.
e.
1912
1920
1940
1942
never regulated at all
16.If demand and lead time are constant,
only ___________ is necessary:
a.
b.
c.
d.
e.
Associated stock
Cycle stock
Safety stock
Speculative Stock
Seasonal stock
16.If demand and lead time are constant,
only ___________ is necessary:
a.
b.
c.
d.
e.
Associated stock
Cycle stock
Safety stock
Speculative Stock
Seasonal stock
17. Three primary forms of ship
chartering are used. Which charter
form has the ship owner renting the
vessel for a long period of time and
the chartering party (or the shipper)
furnishing the crew and physically
operating the vessel?
a.
b.
c.
d.
one-way voyage charter
two-way voyage charter
time charter
bareboat or demise charter
17. Three primary forms of ship
chartering are used. Which charter
form has the ship owner renting the
vessel for a long period of time and
the chartering party (or the shipper)
furnishing the crew and physically
operating the vessel?
a.
b.
c.
d.
one-way voyage charter
two-way voyage charter
time charter
bareboat charter
18.When the terms of shipment are "CIF”
(Cost, Insurance, Freight), the SELLER
is responsible for all costs of the
shipment except:
a.
b.
c.
d.
e.
Export clearance and documentation
Inland freight, in seller’s own country
Loading on vessel in seller’s country
Ocean freight
Unloading vessel in buyer’s country
18.When the terms of shipment are "CIF”
(Cost, Insurance, Freight), the SELLER
is responsible for all costs of the
shipment except:
a.
b.
c.
d.
e.
Export clearance and documentation
Inland freight, in seller’s own country
Loading on vessel in seller’s country
Ocean freight
Unloading vessel in buyer’s country
19.How do carrying costs and order
costs vary in the simple EOQ model?
a. according to the time of the year and
seasonality of demand
b. directly
c. inversely
d. not at all
19.How do carrying costs and order
costs vary in the simple EOQ model?
a. according to the time of the year and
seasonality of demand
b. directly
c. inversely
d. not at all
20.Which category of ocean shipping
offers common carrier service, sailing
on set schedules over specified sea
routes?
a.
b.
c.
d.
liner service
charter vessels
private vessels
demise charter vessels
20.Which category of ocean shipping
offers common carrier service, sailing
on set schedules over specified sea
routes?
a.
b.
c.
d.
liner service
charter vessels
private vessels
demise charter vessels
21.Given that inventory valued at full cost
equals $10 million, variable cost of the
inventory is 78% of the full cost, and
the inventory carrying cost is 30%,
then the cost of carrying the inventory
investment for one year is:
a.
b.
c.
d.
e.
$7.8 million
$3.0 million
$2.3 million
$10 million
none of the above are correct
21.Given that inventory valued at full cost
equals $10 million, variable cost of the
inventory is 78% of the full cost, and
the inventory carrying cost is 30%,
then the cost of carrying the inventory
investment for one year is:
a.
b.
c.
d.
e.
$7.8 million
$3.0 million
$2.3 million
$10 million
none of the above are correct
22.Using the fixed order quantity model
under conditions of certainty, which is
the reorder point if lead time is a
constant 5 days, and yearly demand is
10,000 units (assume 250 working
days in the year)?
a.
b.
c.
d.
100
200
400
5,000
22.Using the fixed order quantity model
under conditions of certainty, which is
the reorder point if lead time is a
constant 5 days, and yearly demand is
10,000 units (assume 250 working
days in the year)?
a.
b.
c.
d.
100
200
400
5,000
23.When the terms of shipment are "FAS”
(Free Alongside Ship), the BUYER is
responsible for all costs of the
shipment except:
a.
b.
c.
d.
e.
Export clearance and documentation
Inland freight, in seller’s own country
Loading on vessel in seller’s country
Ocean freight
Unloading vessel in buyer’s country
23.When the terms of shipment are "FAS”
(Free Alongside Ship), the BUYER is
responsible for all costs of the
shipment except:
a.
b.
c.
d.
e.
Export clearance and documentation
Inland freight, in seller’s own country
Loading on vessel in seller’s country
Ocean freight
Unloading vessel in buyer’s country
24.Capacity of ships, in general, is most
likely to be defined in terms of
a.
b.
c.
d.
e.
Deadweight tons (DWT)
Net registered volume (NRV)
Bale cubic (BC)
Ship long tons (SLT)
Measurement ship tons (MST)
24.Capacity of ships, in general, is most
likely to be defined in terms of
a.
b.
c.
d.
e.
Deadweight tons (DWT)
Net registered volume (NRV)
Bale cubic (BC)
Ship long tons (SLT)
Measurement ship tons (MST)
25.What are the required inputs for an
MRP?
a. production planning file, inventory status
file, master production schedule
b. production planning file, master
production schedule, bill of materials
c. master production schedule, bill of
materials, customer order file
d. master production schedule, bill of
materials, inventory status file
25.What are the required inputs for an
MRP?
a. production planning file, inventory status
file, master production schedule
b. production planning file, master
production schedule, bill of materials
c. master production schedule, bill of
materials, customer order file
d. master production schedule, bill of
materials, inventory status file
26.The cost structure of liner operations
is
a. largely fixed.
b. largely variable.
c. evenly balanced between fixed and
variable.
d. largely common and variable.
26.The cost structure of liner operations
is
a. largely fixed.
b. largely variable.
c. evenly balanced between fixed and
variable.
d. largely common and variable.
27.The “Undercharge” issue was caused
by the excessive fare discounts
offered by the:
a.
b.
c.
d.
Airlines
International shipping lines
ICC
Motor carriers
27.The “Undercharge” issue was caused
by the excessive fare discounts
offered by the:
a.
b.
c.
d.
Airlines
International shipping lines
ICC
Motor carriers
28.All of the following are true of the
Liner shipping industry, except:
a.
b.
c.
d.
e.
operate on regular schedules
operate on regular routes
usually meant for a single shipper
rates are published
very service oriented
28.All of the following are true of the
Liner shipping industry, except:
a.
b.
c.
d.
e.
operate on regular schedules
operate on regular routes
usually meant for a single shipper
rates are published
very service oriented
29.The objectives of stockless
purchasing include all of the following
except:
a. lower inventory levels
b. Reduce administrative cost and
paperwork
c. increase the number of suppliers
d. Provide for timely delivery of material
directly to the User.
e. standardize purchase items where
possible
29.The objectives of stockless
purchasing include all of the following
except:
a. lower inventory levels
b. Reduce administrative cost and
paperwork
c. increase the number of suppliers
d. Provide for timely delivery of material
directly to the User.
e. standardize purchase items where
possible
30.Assume that the cost of the most efficient
logistics system for a 98 percent service
goal is $2 million higher than the existing
system's cost. If for each dollar of
additional sales, the company incurs 75
cents in out-of-pocket costs, what
incremental sales volume will the company
need to recover the increase in logistics
costs?
a.
b.
c.
d.
e.
$2 million
2 million units
$8 million
$4 million
Can not be determined with the information
given
30.Assume that the cost of the most efficient
logistics system for a 98 percent service
goal is $2 million higher than the existing
system's cost. If for each dollar of
additional sales, the company incurs 75
cents in out-of-pocket costs, what
incremental sales volume will the company
need to recover the increase in logistics
costs?
a.
b.
c.
d.
e.
$2 million
2 million units
$8 million
$4 million
Can not be determined with the information
given
31.Container ship capacity is most likely
to be defined in terms of
a.
b.
c.
d.
Deadweight tons (DWT)
Net registered tons (NRT)
Bale cubic (BC)
TEU’s
31.Container ship capacity is most likely
to be defined in terms of
a.
b.
c.
d.
Deadweight tons (DWT)
Net registered tons (NRT)
Bale cubic (BC)
TEU’s
32.Sinclair Machinery imported 300
engines from a manufacturer in
France. The import duty paid was
$1000. Finding no market for the
engines, Sinclair re-exported the
engines to Brazil and applied for a
drawback. How much of the paid duty
will Sinclair receive back?
a.
b.
c.
d.
$100
$500
$990
none, duty paid cannot be refunded
32.Sinclair Machinery imported 300
engines from a manufacturer in
France. The import duty paid was
$1000. Finding no market for the
engines, Sinclair re-exported the
engines to Brazil and applied for a
drawback. How much of the paid duty
will Sinclair receive back?
a.
b.
c.
d.
$100
$500
$990
none, duty paid cannot be refunded
33. According to Lardner's Law (also
referred to as the law of squares in
transportation and trade), if the
transportation cost is cut in half the
relevant market area is increased
a.
b.
c.
d.
2 times
4 times
.5 times
Stays the same
33. According to Lardner's Law (also
referred to as the law of squares in
transportation and trade), if the
transportation cost is cut in half the
relevant market area is increased
a.
b.
c.
d.
2 times
4 times
.5 times
Stays the same
34. Certain American ship owners may
derive benefits of taxes, manning (i.e.
officers and crew), and relaxed safety
requirements by registering their ship
in Panama instead of the U.S. By
doing so, the ship flies the
Panamanian flag. In this case, the
Panamanian flag is called
a.
b.
c.
d.
a tax-flag.
a flag of convenience.
an escape flag.
a flag of evasion.
34. Certain American ship owners may
derive benefits of taxes, manning (i.e.
officers and crew), and relaxed safety
requirements by registering their ship
in Panama instead of the U.S. By
doing so, the ship flies the
Panamanian flag. In this case, the
Panamanian flag is called
a.
b.
c.
d.
a tax-flag.
a flag of convenience.
an escape flag.
a flag of evasion.
35.Obsolescence, pilferage, and product
damage would be examples of which
component of inventory carrying
costs?
a.
b.
c.
d.
e.
capital costs
inventory risk costs
inventory service costs
opportunity costs
storage space costs
35.Obsolescence, pilferage, and product
damage would be examples of which
component of inventory carrying
costs?
a.
b.
c.
d.
e.
capital costs
inventory risk costs
inventory service costs
opportunity costs
storage space costs
36.Which global strategic channel
intermediate acts as consolidator and
dispenser of containers that originate
at or are inbound to inland points?
a.
b.
c.
d.
RO-RO
NVOCC
EOACC
STB
36.Which global strategic channel
intermediate acts as consolidator and
dispenser of containers that originate
at or are inbound to inland points?
a.
b.
c.
d.
RO-RO
NVOCC
EOACC
STB
37.(a) If a Shipper’s total product costs
are $1000, and sells for $1500 at the
market, and
(b) If a Carriers fixed costs are $100,
and variable costs are $200, then the
Lower limit for Carrier’s zone of
negotiation under excess capacity is:
a.
b.
c.
d.
e.
$1500
$1000
$500
$300
$200
37.(a) If a Shipper’s total product costs
are $1000, and sells for $1500 at the
market, and
(b) If a Carriers fixed costs are $100,
and variable costs are $200, then the
Lower limit for Carrier’s zone of
negotiation under excess capacity is:
a.
b.
c.
d.
e.
$1500
$1000
$500
$300
$200
38.Demand for an item increases 10
percent, and the value of each unit
increases 10 percent. What is the
effect on EOQ (assuming everything
else remains the same)?
a.
b.
c.
d.
EOQ increases 10 percent
EOQ increases 20 percent
EOQ decreases 10 percent
EOQ stays the same
38.Demand for an item increases 10
percent, and the value of each unit
increases 10 percent. What is the
effect on EOQ (assuming everything
else remains the same)?
a.
b.
c.
d.
EOQ increases 10 percent
EOQ increases 20 percent
EOQ decreases 10 percent
EOQ stays the same
39.Customer service involves maximizing
___________ and _________ utilities to
the firm’s suppliers, intermediate
customers, and final customers.
a.
b.
c.
d.
e.
time, possession
possession, form
form, place
time, place
place, possession
39.Customer service involves maximizing
___________ and _________ utilities to
the firm’s suppliers, intermediate
customers, and final customers.
a.
b.
c.
d.
e.
time, possession
possession, form
form, place
time, place
place, possession
40.The award managed by the US
Department of Commerce which
recognizes companies that have
attained a high level of excellence arid
total quality is the:
a.
b.
c.
d.
e.
Deming Award
ISO 9000 Certification
Juran Medal
Malcolm Baldrige National Quality Award
Presidential Citation of Merit
40.The award managed by the US
Department of Commerce which
recognizes companies that have
attained a high level of excellence arid
total quality is the:
a.
b.
c.
d.
e.
Deming Award
ISO 9000 Certification
Juran Medal
Malcolm Baldrige National Quality Award
Presidential Citation of Merit
41. DOT regulations require truck drivers to
drive a maximum of 10 hours after 8
consecutive hours off duty. To maintain
schedules, minimize transit time, and
conform to regulations, carriers should
appropriately do which of the following?
a. require drivers to provide log books at check
points
b. operate relay terminals
c. install slow clocks in vehicles
d. use satellite communications to talk to
drivers
41. DOT regulations require truck drivers to
drive a maximum of 10 hours after 8
consecutive hours off duty. To maintain
schedules, minimize transit time, and
conform to regulations, carriers should
appropriately do which of the following?
a.require drivers to provide log books at check
points
b.operate relay terminals
c.install slow clocks in vehicles
d.use satellite communications to talk to drivers
42. The type of maritime bridge where a
shipment has both a land leg and a
sea leg, but has an inland destination
or origin point is:
a.
b.
c.
d.
a macro bridge
a mini bridge
a micro bridge
a portal bridge
42. The type of maritime bridge where a
shipment has both a land leg and a
sea leg, but has an inland destination
or origin point is:
a.
b.
c.
d.
a macro bridge
a mini bridge
a micro bridge
a portal bridge
43. A containerized shipment of French
beauty products arrives at the port of
Miami. The containers are off loaded
onto rail cars for shipment to Orlando,
Florida. This describes which type of
maritime bridge?
a.
b.
c.
d.
microbridge
minibridge
macrobridge
mainbridge
43. A containerized shipment of French
beauty products arrives at the port of
Miami. The containers are off loaded
onto rail cars for shipment to Orlando,
Florida. This describes which type of
maritime bridge?
a.
b.
c.
d.
microbridge
minibridge
macrobridge
mainbridge
44. An International intermodal service
in which foreign cargo crosses a
Country en route to another country
(e.g., Europe to US via ocean, across
US by rail, and US to Japan via ocean)
is referred to as:
a.
b.
c.
d.
e.
landbridge
microbridge
minibridge
micro landbridge
none of the above answers are correct
44. An International intermodal service
in which foreign cargo crosses a
Country en route to another country
(e.g., Europe to US via ocean, across
US by rail, and US to Japan via ocean)
is referred to as:
a.
b.
c.
d.
e.
landbridge
microbridge
minibridge
micro landbridge
none of the above answers are correct
45. Which type of maritime bridge
involves one ocean leg and one land
leg with the shipment moving between
a U.S. port and a foreign port but
passing through a different U.S. port?
a.
b.
c.
d.
a macro bridge
a mini bridge
a micro bridge
a portal bridge
45. Which type of maritime bridge
involves one ocean leg and one land
leg with the shipment moving between
a U.S. port and a foreign port but
passing through a different U.S. port?
a.
b.
c.
d.
a macro bridge
a mini bridge
a micro bridge
a portal bridge