The CIFFA (Canadian International Freight Forwarders Association) was created in what year?

1867

1967

1918

1948

Independent owner/operators contract their services to a carrier or private industry and operate under that carrier's license

True

False

What logistics activity involves managing the flow of goods into and out of a warehouse?

Inventory control

Transportation

Materials handling

Storage

According to the Ontario Truck Transportation Act of 1992, freight brokers in Ontario must post a surety bond of not less than $___________________ to ensure payment to owner/operators as prescribed by the MOT.

1,000.00

5,000.00

10,000.00

100,000.00

If dangerous good are shipped by air, who must certify the shipment?

freight forwarder

freight broker

consignor

consignee

Import Merchants are foreign distributors - A company located in a foreign company that will purchase goods from abroad for resale

True

False

Customs Brokers assist companies with:

Transportation and shipping strategies

Customs classification and valuation

Payment of duties and taxes

All of the above

Inventory control involves which of the following?

Ensuring that materials are being transported where they need to go.

Ensuring that there is sufficient inventory and that inventory is accurately recorded.

Ensuring that customers are satisfied with the quality of their goods and services.

Predicting the inventory needed.

Import Agents will obtain export orders for manufacturers or suppliers

True

False

Insurance underwriters are employed by insurance companies and decide whether insurance will be provided to a company and under what terms

True

False

Export Merchants will purchase goods and assume all risks involved with the sale to a foreign market

True

False

While there are several categories of transportation intermediaries, they break down into two basic groups:

freight forwarders and customs brokers

freight brokers and financial institutions

freight brokers and warehouse operators

freight forwarders and freight brokers

Select the most accurate statement regarding Freight Rates:

Depend on quantity, weight, density, volume, value, susceptibility to damage, packing requirements of goods

Depend on quality, weight, value, susceptibility to competition, packing requirements of goods

Depend on quality, weight, density, volume, value, suspicion of illegal goods and black market activities

Depends only on what the provider decides is an accurate reimbursement for service provision

Both freight forwarders and transportation brokers can act either as principal or agent

True

False

Private trucking: the fleet is owned by:

owner/operator

freight broker

manufacturer, supplier or distributor

freight forwarder

Export Agents are commissioned by a company to find suppliers and producers

True

False

Regulation 556/92 states "Financial intermediary is a person who, for compensation, arranges for goods owned by one person to be carried by another person who is a carrier"

True

False

What logistics activity involves taking orders?

Inventory control

Materials handling

Fulfillment

Transportation

"All Risk" insurance condition is the most comprehensive of all conditions and covers losses due to improper packaging, rejection at customs, and employee dishonesty

True

False

Freight Brokers:

Identify risk of loss of a particular cargo on a particular carrier

Determine whether an insurance policy can be issued

Determine the insurance premium

None of the above

Order processing systems automatically send information about a transaction to all competitors involved in the industry

True

False

Dependent owner/operators act as small trucking companies, securing authorities to operate as trucking carriers

True

False

In general terms, a freight forwarder consolidates individual shipments into smaller, small package deliveries to compliment e-commerce

True

False

Freight forwarders act as principal and as agent in the handling of cargo by water. Most often when acting as principal, they are referred to as NVOCC which means:

New vessel operating for customs clearance

New vessel owning common carrier

Non vessel owning common carrier

None of these

Since 2009, Canadian domestic freight forwarders in Canada are subject to municipal legislation instead of federal regulations

True

False

In "Made to order operations":

Lead time is determined by production backlog

Backlogs are not part of considerations regarding order completion

Both of these

Neither of these

Freight brokers compensation type - "Cost Plus" - refers to the agreed upon rate between broker and customer, and any additional charges for unforeseen occurrences

True

False

Freight brokers predominantly arrange what kind of service?

LTL commodities

Full load commodities

Dry and liquid bulk

Refrigerated loads

Insurance offered under marine policies will cover goods transported by:

Air

Ocean

Rail

Road

All of the above

Factors taken into account when assessing cargo insurance rates could include ship classification, construction, size, nationality, ownership and age

True

False