1. The airway bill is the transportation document used for air shipments.

True

False

2. An importer and exporter are about to agree to their first transaction. The most likely method of payment they would use is open account.

True

False

3. Under the Incoterm 2020 DAP, the seller must purchase insurance.

True

False

4. A bill of lading consigned to "The Order of JPMorgan Chase Bank" is a non-negotiable b/l.

True

False

5. Delayed loading and shipment as a result of port congestion because of a labor strike under an FOB contract is an example of a Force Majeure event.

True

False