International Business Law

Multiple Choice Questions

1. Which of the following is not true?

a. the same tariff will apply to a good imported into the EU regardless of the country through which it is entering the EU.

b. Tariff rates applied to the good imported into the EU are determined based on the type of goods and the origin of the good.

c. EU countries have their own external tariffs on the goods entering the country.

d. For the purposes of assessing tariffs, the type of good will be determined using the Combined Nomenclature.

2. Which of the following statements is correct?

a. The basis for tariff classification under NAFTA is the Harmonized Commodity Description and Coding System (HS); this system has been adopted by most of the world's trading countries.

b. It is no longer necessary to produce a certificate of origin when moving goods internally within NAFTA across its internal borders.

c. Since a certificate of origin is the responsibility of the exporter, the importer need not be concerned about the form or content of the certificate.

d. All of the above are correct.

3. Article 102 under CETA address the behaviour of which of the following?

a. A single, dominant firm abusing its market power.

b. Market activities that engaging in price-fixing, limitation on production, tie-ins, and market sharing.

c. Discrimination among parties. ....1

d. Only a and b are correct. PAGE 132

4. which of the follow statements is correct?

a. NAFTA sets common standards for sanitary and phytosanitary measures among member states.

b. NAFTA standards on sanitary and phytosanitary measures must be adopted for scientific reasons.

c. NAFTA standards on sanitary and phytosanitary may only be used to protect humans and animals from pests, diseases or contaminants.

d. None of the above is correct.

5.Which of the following is NOT a method for assessing the dutiable value of a good for a non-arm's-length transaction?

a. Transaction value

b. Transaction value of identical goods.

c. Transaction value of similar goods.

d. Deductive value.

6. which of the following statement is correct?

a. member countries if NAFTA remain free to favour their own domestic providers of goods and services.

b. member countries of NAFTA are committed to give providers of goods and services from other NAFTA countries treatment no less favourable than that extended to domestic providers.

c. businesspersons now have complete freedom to choose where to live and conduct business in the three member countries of NAFTA.

d. none of the above is correct.

7. Which of the follow statements is correct?

a. the chapter 20 provisions for general dispute resolution are available only to the national governments of the NAFTA countries.

b. Individuals businesses or industries can bring complaints under Chapter 20 of NAFTA if their investments or enterprises have been adversely affected by the actions of members country governments.

c. The decisions of arbitral panels under NAFTA chapter 20 are binding on all parties.

8.which of the following statements is correct?

a. in order to qualify for area treatment under NAFTA, goods must be wholly obtained or produced entirely in North America.

b. Area treatment provides that qualifying goods will pass tariff-free or with a reduced tariff from the territory of one-member country into another.

C. goods manufactured in a non-member country that are imported into Canada and repackaged will qualify for area treatment when they are shipped into the US or Mexico.

d. None of the above is correct.

9.Which of the following is true?

a.The Treaty of Rome established the European Economic Community, which created the first common European market.

b. The treaty of Versailles established the European Economic Community, which created the first common European market.

c. The single European Act established the European Economic Community, which created the first common European market.

d. The Maastricht Treaty established the European Economic Community, which created the first common European market.

10.Which of the following is true?

a. the European Council is tasked with defining "the general political directions and priorities" of the European Union.

b. The European Commission is tasked with defining "the general political directions and priorities" of the European Union.

c. The Council of the European Union is tasked with defining "the general political directions and priorities" of the European Union.

d. The European Parliament is tasked with defining "the general political direction and priorities" of the European Union.

11. Which of the following is true?

a. Countervailing duties are imposed by an importing country over and above the usual import duties when goods are being dumped into the importing country.

b. Dumping refers to sellingan imported good at a price lower than the price at which it is sold in the exportingcountry.

c. Emergency safeguard measures are imposed by an importing country over and above the usual import duties when the goods have been subsidized by the country in which they are produced.

d. All of the above are true.

12. Which of the following is true?

a. The European Council and the European Parliament together make up the legislative arm of the European Union.

b. the Council of European Union and the European parliament together make up the legislative arm of the European union.

c. The European Commission and the European Parliament together make up the legislative arm of the European Union.

d. The European Council and the European council together make up the legislative arm of the European Union.

13.Which of the following is true?

a. The Export and Import Permits Act (EIPA) incorporates the WTO provisions concerning dumping and subsidies into Canadian legislation.

b. The Special Import Measures Act (SIMA) incorporates the WTO provisions concerning dumping and subsidies into Canadian legislation.

c. The Canada Border Services Agency Act (CBSA Act) incorporates the WTO provisions concerning dumping and subsidies into Canadian legislation.

d. The Customs Act incorporates the WTO provisions concerning dumping and subsidies into Canadian legislation.

14.Which of the following is true?

a. Canadian exports may be controlled by both UN Security Council Resolutions and US legislation.

b. Canadian exports may only be controlled by regulations originating from International Trade Canada.

c. Canadian export controls based on sanctions must originate from a UN Security Council resolution.

d. None of the above is true.

15. Which of the following is true?

a. The Harmonized System is used to determine the origin of the good being imported into Canada.

b. The Harmonized System is used to determine the applicable tariff rate of a good being imported into Canada.

c. The Harmonized System is used to determine the value of the goods being imported into Canada.

d. The Harmonized System is used to determine the tariff classification of the good being imported into Canada.