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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.

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Presentation on theme: "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."— Presentation transcript:

1 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

2 How does a LASH ship differ from a ship that offers container service? a. b. c.The LASH ship carries loaded barges d.

3 Which of the following is not a legally defined form of transportation? a.Common carriers b.Contract carriers c.Exempt carriers d.Private carriers e.Preferred carriers

4 Which of the following is not a legally defined form of transportation? a. b. c. d. e.Preferred carriers

5 Generally, at higher volumes of throughput, a firm should utilize: a.A public warehouse b.A federal warehouse c.A local warehouse d.A private warehouse

6 Generally, at higher volumes of throughput, a firm should utilize: a. b. c. d.A private warehouse

7 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

8 All of the following are true of Charter (or Tramp) shipping industry, except: a. b. c. d.Operate on fixed routes

9 Which charter vessel arrangement transfer full control of the ship to the charterer? a.Voyage b.Time c.Demise d.Liner

10 Which charter vessel arrangement transfer full control of the ship to the charterer? a. b. c.Demise d.

11 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.One ‑ way voyage charter b.Two ‑ way voyage charter c.Time charter d.Bareboat or demise charter

12 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.Bareboat or demise charter

13 When the terms of shipment are "CIF” (Cost, Insurance, Freight), the SELLER is responsible for all costs of the shipment except: a.Export clearance and documentation b.Inland freight, in seller’s own country c.Loading on vessel in seller’s country d.Ocean freight e.Unloading vessel in buyer’s country

14 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.Unloading vessel in buyer’s country

15 Which category of ocean shipping offers common carrier service, sailing on set schedules over specified sea routes? a.Liner service b.Charter vessels c.Private vessels d.Demise charter vessels

16 Which category of ocean shipping offers common carrier service, sailing on set schedules over specified sea routes? a.Liner service b. c. d.

17 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

18 What are the required inputs for an MRP? a. b. c. d.Master production schedule, bill of materials, inventory status file

19 Capacity of ships, in general, is most likely to be defined in terms of a.Deadweight tons (DWT) b.Net registered volume (NRV) c.Bale cubic (BC) d.Ship long tons (SLT) e.Measurement ship tons (MST)

20 Capacity of ships, in general, is most likely to be defined in terms of a.Deadweight tons (DWT) b. c. d. e.

21 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.

22 The cost structure of liner operations is a.Largely fixed. b. c. d.

23 All of the following are true of the Liner shipping industry, except: a.Operate on regular schedules b.Operate on regular routes c.Usually meant for a single shipper d.Rates are published e.Very service oriented

24 All of the following are true of the Liner shipping industry, except: a. b. c.Usually meant for a single shipper d. e.

25 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

26 The objectives of stockless purchasing include all of the following except: a. b. c.Increase the number of suppliers d. e.

27 Container ship capacity is most likely to be defined in terms of a.Deadweight tons (DWT) b.Net registered tons (NRT) c.Bale cubic (BC) d.TEU’s

28 Container ship capacity is most likely to be defined in terms of a. b. c. d.TEU’s

29 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.2 times b.4 times c..5 times d.Stays the same

30 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.4 times c. d.

31 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.EOQ increases 10 percent b.EOQ increases 20 percent c.EOQ decreases 10 percent d.EOQ stays the same

32 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 stays the same

33 Rail computer systems identify cars for reconsignment and diversions. What are these cars called? a.Rollers b.Passers c.Progressors d.Tracers

34 Rail computer systems identify cars for reconsignment and diversions. What are these cars called? a.Rollers b. c. d.

35 What is a pro-number? a.The carrier name identification b.A commodity code c.A location code d.A shipment identification numbers e.The electronic transfer of funds

36 What is a pro-number? a. b. c.A shipment identification numbers d.

37 Quality attributes of carrier service include all of the following except? a.Modal selection b.Transit time reliability c.Accuracy of shipment billing d.Loss and damage experience

38 Quality attributes of carrier service include all of the following except? a.Modal selection b. c. d.

39 What was the purpose of the rule of rate making in the Transportation Act of 1920? a.To establish upper limits on motor carrier rates b.To eliminate discrimination c.To establish set criteria for water carrier rate making d.To allow the railroads a fair return on their investment

40 What was the purpose of the rule of rate making in the Transportation Act of 1920? a. b. c. d.To allow the railroads a fair return on their investment

41 Which of the following best describes the atmosphere of the federal control of transportation from 1887 to 1920? a.Positive; developing a strong transportation system b.Restrictive; controlling the railroad monopoly c.Adequate; helping shippers and carriers equally d.Ambivalent; aiding neither shippers or carriers

42 Which of the following best describes the atmosphere of the federal control of transportation from 1887 to 1920? a. b.Restrictive; controlling the railroad monopoly c. d.

43 Entry regulations are established in transportation to control which of the following? a.Excessive rates b.Excessive competition c.Monopolistic abuses d.The recapture of excess profits

44 Entry regulations are established in transportation to control which of the following? a. b.Excessive competition c. d.

45 The Transportation Act of 1920 provided that in the event a railroad made more than the prescribed return on investment, one-half of the excess was to be paid off to the ICC. What was this provision called? a.The recapture clause b.The refund clause c.The rule of rate making d.The contingency clause

46 The Transportation Act of 1920 provided that in the event a railroad made more than the prescribed return on investment, one-half of the excess was to be paid off to the ICC. What was this provision called? a.The recapture clause b. c. d.

47 What did the 3R Act establish? a.Amtrak b.Conrail c.Government control over Amtrak d.Federal regulation of the pipeline

48 What did the 3R Act establish? a. b.Conrail c. d.

49 Which of the following created the Interstate Commerce Commission? a.The Commission Organization Act b.The Act to Regulate Commerce c.The Granger Law d.The Transportation Act of 1920

50 Which of the following created the Interstate Commerce Commission? a. b.The Act to Regulate Commerce c. d.

51 Which of the following is correct regarding the zone of reasonableness established for air carriers using the standard industry level as a basis? a.Above 5-10 percent, below 50 percent b.Above percent, below 50 percent c.Above 50 percent, below 5-10 percent d.Above 50 percent, below percent

52 Which of the following is correct regarding the zone of reasonableness established for air carriers using the standard industry level as a basis? a.Above 5-10 percent, below 50 percent b. c. d.

53 The motor carriers zone of rate flexibility allows the carrier to increase or decrease rates by which percent without ICC approval? a.5 b.7 c.9 d.10

54 The motor carriers zone of rate flexibility allows the carrier to increase or decrease rates by which percent without ICC approval? a. b. c. d.10

55 Which mode of transportation is excluded from the declaration of national transportation policy? a.Air b.Motor c.Rail d.Water

56 Which mode of transportation is excluded from the declaration of national transportation policy? a.Air b. c. d.

57 In the early years of the airline industry, what was the major revenue source of the airlines? a.Air freight b.Passengers c.U.S. Postal Service subsidies d.WWI troop movements for the DoD

58 In the early years of the airline industry, what was the major revenue source of the airlines? a. b. c.U.S. Postal Service subsidies d.

59 The only true form of nationalization in the U.S. transportation system is: a.Amtrak b.The Alaska Railroad c.Conrail d.The U.S. Post Office

60 The only true form of nationalization in the U.S. transportation system is: a. b.The Alaska Railroad c. d.

61 What is the relationship between the movement and storage elements of the logistics system? a.Negative and indirect b.Negative and direct c.Positive and indirect d.Positive and direct

62 What is the relationship between the movement and storage elements of the logistics system? a. b. c. d.Positive and direct

63 Which of the following is a charge levied by a motor carrier on a shipper for holding carrier equipment beyond an acceptable time? a.Dunnage b.Demurrage c.Detention d.Debarkation

64 Which of the following is a charge levied by a motor carrier on a shipper for holding carrier equipment beyond an acceptable time? a. b. c.Detention d.

65 Which segment of the pipeline industry has the largest number of miles of intercity pipelines? a.Natural gas b.Oil c.Gathering lines d.Trunk lines

66 Which segment of the pipeline industry has the largest number of miles of intercity pipelines? a.Natural gas b. c. d.

67 Which of the following pairs are only for- hire carriers? a.Company-owned and exempt carriers b.Regulated and private carriers c.Exempt and private carriers d.Regulated and exempt carriers

68 Which of the following pairs are only for- hire carriers? a. b. c. d.Regulated and exempt carriers

69 Which is the proportion of variable costs to fixed costs in the cost structure of the air carriers? a.40/60 b.60/40 c.80/20 d.20/80

70 Which is the proportion of variable costs to fixed costs I the cost structure of the air carriers? a. b. c.80/20 d.

71 Class I railroads carry what percentage of total intercity ton-miles of freight transported by mode? a.50 b.60 c.75 d.98

72 Class I railroads carry what percentage of total intercity ton-miles of freight transported by mode? a. b. c. d.98

73 Over 50% of railroads’ revenue dollar is expended for? a.Maintenance “way” expenses b.Labor costs c.Depreciation d.Fuel costs

74 Over 50% of railroads’ revenue dollar is expended for? a. b.Labor costs c. d.

75 Assuming the cost to place an order is constant, increasing Q* causes annual order cost to: a.Decrease b.Increase c.Remain the same d.Cannot be determined

76 Assuming the cost to place an order is constant, increasing Q* causes annual order cost to: a.Decrease b. c. d.

77 As customer service levels approach higher levels (80-90%)), required inventory levels begin to _______at a(n)________ rate. a.Increase; increasing b.Increase; decreasing c.Decrease; decreasing d.Decrease; increasing

78 As customer service levels approach higher levels (80-90%)), required inventory levels begin to _______at a(n)________ rate. a.Increase; increasing b. c. d.

79 Which is an impossible description of raw material? a.Ubiquitous and pure b.Weight losing and ubiquitous c.Pure and localized d.Weight losing and pure e.None of the above

80 Which is an impossible description of raw material? a. b. c. d.Weight losing and pure e.

81 Demurrage is a charge for: a.Penalty charge for going beyond normal load/unloading time b.Penalty charge for being late with delivery c.Penalty charged for freight audits d.Penalty charge when a rate shark examines all paid freight bills and spots overpayment due to wrong classification, wrong classification, wrong weight, or duplicate payment

82 Demurrage is a charge for: a.Penalty charge for going beyond normal load/unloading time b. c. d.

83 FAK rates make the most strategic sense for companies shipping: a.Heavy, bulky items b.A variety of different types and classes of items c.Light, but small items d.One or two different types and classes of items

84 FAK rates make the most strategic sense for companies shipping: a. b.A variety of different types and classes of items c. d.

85 We can compare the cost of shipping at a higher volume than actual weight to realize a lower rate and lower shipping cost of shipping at the actual weight by determining the weight break formula: a.LV rate * WB = HV rate * MW b.WB * LV rate = MW * HV rate c.HV rate * LV rate = WB * MW d.HV rate * LV rate = WB * MW

86 We can compare the cost of shipping at a higher volume than actual weight to realize a lower rate and lower shipping cost of shipping at the actual weight by determining the weight break formula: a. b.WB * LV rate = MW * HV rate c. d.

87 Which refers to a situation where a charge is levied by a motor carrier on a shipper for holding carrier equipment beyond an acceptable loading or unloading time? a.Dunnage b.Demurrage c.Detention d.Debarkation

88 Which refers to a situation where a charge is levied by a motor carrier on a shipper for holding carrier equipment beyond an acceptable loading or unloading time? a. b. c.Detention d.

89 What is the load factor for a month that has an air carrier with a plane that holds 120 pax and carries 75 pax each trip? a.75 b.120 c.62.5 d.1.6

90 What is the load factor for a month that has an air carrier with a plane that holds 120 pax and carries 75 pax each trip? a. b. c.62.5 d.

91 You look at a map and all you see is Interstates I-15 and I-94, which region are you looking at? a.Northeastern b.Southeastern c.Northwestern d.Southwestern

92 You look at a map and all you see is Interstates I-15 and I-94, which region are you looking at? a. b. c.Northwestern d.

93 Which of the following is the motor carrier’s fractional share of the transportation freight market based on revenue ton- miles? a.1/8 b.1/4 c.1/3 d.1/2

94 Which of the following is the motor carrier’s fractional share of the transportation freight market based on revenue ton- miles? a. b.1/4 c. d.

95 With what type of purchase would you need to identify all possible suppliers? a.A straight rebuy b.A modified rebuy c.A new buy d.Routine purchase

96 With what type of purchase would you need to identify all possible suppliers? a. b. c.A new buy d.

97 The average inventory of XYZ Company is valued at $500,000. The annual carrying cost of carrying the inventory is 20 percent. Which is the annual cost of carrying inventory? a.$50,000 b.$100,000 c.$200,000 d.$500,000

98 The average inventory of XYZ Company is valued at $500,000. The annual carrying cost of carrying the inventory is 20 percent. Which is the annual cost of carrying inventory? a. b.$100,000 c. d.

99 All of the following are assumptions of the EOQ except: a.Constant and known rate of demand b.Consistent lead time c.No stock-outs allowed d.Capital availability is limited e.No inventory in transit

100 All of the following are assumptions of the EOQ except: a. b. c. d.Capital availability is limited e.

101 All the following are inventory risk costs except: a.Obsolescence b.Taxes c.Damage d.Shrinkage e.Relocation costs

102 All the following are inventory risk costs except: a. b.Taxes c. d. e.

103 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

104 How do carrying costs and order costs vary in the simple EOQ model? a. b. c.Inversely d.

105 Full cost equals $10 million. Variable cost of the inventory is 78% of the full cost. If inventory carrying cost is 30%, then the cost of carrying the inventory investment for one year is: a.$7.8 million b.$3.0 million c.$2.3 million d.$10 million e.None of the above are correct

106 Full cost equals $10 million. Variable cost of the inventory is 78% of the full cost. If inventory carrying cost is 30%, then the cost of carrying the inventory investment for one year is: a. b. c.$2.3 million d. e.

107 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.100 b.200 c.400 d.5,000

108 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.200 c. d.

109 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.$100 b.$500 c.$990 d.None, duty paid cannot be refunded

110 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.$990 d.


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