1. What is the importance of "landed cost" in calculating cost and pricing related to international trade?

2. What are two examples of risk transfer?

3. A U.S.-based company that exports auto parts to Europe notices that the foreign exchange rate between the U.S. dollar and the Euro has tipped into a range that is unfavourable. In the past, the company has neglected to examine this FX risk but it now wants to analyze the FX risk and establish an FX policy. What are the steps that the company needs to follow to accomplish this goal?