How does a LASH ship differ from a ship that offers container service? The LASH ship travel inland waterways Container service involves only inland waterways The LASH ship carries loaded barges Container service is for make‑bulk shipments

How does a LASH ship differ from a ship that offers container service? The LASH ship carries loaded barges

Which of the following is not a legally defined form of transportation? Common carriers Contract carriers Exempt carriers Private carriers Preferred carriers

Which of the following is not a legally defined form of transportation? Preferred carriers

Generally, at higher volumes of throughput, a firm should utilize: A public warehouse A federal warehouse A local warehouse A private warehouse

Generally, at higher volumes of throughput, a firm should utilize: A private warehouse

All of the following are true of Charter (or Tramp) shipping industry, except: Consist mostly of shiploads of one commodity Very cost oriented Usually meant for a single shipper Operate on fixed routes

All of the following are true of Charter (or Tramp) shipping industry, except: Operate on fixed routes

Which charter vessel arrangement transfer full control of the ship to the charterer? Voyage Time Demise Liner

Which charter vessel arrangement transfer full control of the ship to the charterer? Demise

Three primary forms of ship chartering are used 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? One‑way voyage charter Two‑way voyage charter Time charter Bareboat or demise charter

Three primary forms of ship chartering are used 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? Bareboat or demise charter

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

When the terms of shipment are "CIF” (Cost, Insurance, Freight), the SELLER is responsible for all costs of the shipment except: Unloading vessel in buyer’s country

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

Which category of ocean shipping offers common carrier service, sailing on set schedules over specified sea routes? Liner service

What are the required inputs for an MRP? Production planning file, inventory status file, master production schedule Production planning file, master production schedule, bill of materials Master production schedule, bill of materials, customer order file Master production schedule, bill of materials, inventory status file

What are the required inputs for an MRP? Master production schedule, bill of materials, inventory status file

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

Capacity of ships, in general, is most likely to be defined in terms of Deadweight tons (DWT)

The cost structure of liner operations is Largely fixed. Largely variable. Evenly balanced between fixed and variable. Largely common and variable.

The cost structure of liner operations is Largely fixed.

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

All of the following are true of the Liner shipping industry, except: Usually meant for a single shipper

The objectives of stockless purchasing include all of the following except: Lower inventory levels Reduce administrative cost and paperwork Increase the number of suppliers Provide for timely delivery of material directly to the User. Standardize purchase items where possible

The objectives of stockless purchasing include all of the following except: Increase the number of suppliers

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

Container ship capacity is most likely to be defined in terms of TEU’s

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 2 times 4 times .5 times Stays the same

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 4 times

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)? EOQ increases 10 percent EOQ increases 20 percent EOQ decreases 10 percent EOQ stays the same

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)? EOQ stays the same

Rollers Passers Progressors Tracers Rail computer systems identify cars for reconsignment and diversions. What are these cars called? Rollers Passers Progressors Tracers

Rail computer systems identify cars for reconsignment and diversions Rail computer systems identify cars for reconsignment and diversions. What are these cars called? Rollers

What is a pro-number? The carrier name identification A commodity code A location code A shipment identification numbers The electronic transfer of funds

What is a pro-number? A shipment identification numbers

Quality attributes of carrier service include all of the following except? Modal selection Transit time reliability Accuracy of shipment billing Loss and damage experience

Quality attributes of carrier service include all of the following except? Modal selection

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

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

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

Which of the following best describes the atmosphere of the federal control of transportation from 1887 to 1920? Restrictive; controlling the railroad monopoly

Entry regulations are established in transportation to control which of the following? Excessive rates Excessive competition Monopolistic abuses The recapture of excess profits

Entry regulations are established in transportation to control which of the following? Excessive competition

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? The recapture clause The refund clause The rule of rate making The contingency clause

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? The recapture clause

What did the 3R Act establish? Amtrak Conrail Government control over Amtrak Federal regulation of the pipeline

What did the 3R Act establish? Conrail

Which of the following created the Interstate Commerce Commission? The Commission Organization Act The Act to Regulate Commerce The Granger Law The Transportation Act of 1920

Which of the following created the Interstate Commerce Commission? The Act to Regulate Commerce

Which of the following is correct regarding the zone of reasonableness established for air carriers using the standard industry level as a basis? Above 5-10 percent, below 50 percent Above 15-20 percent, below 50 percent Above 50 percent, below 5-10 percent Above 50 percent, below 15-20 percent

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

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

The motor carriers zone of rate flexibility allows the carrier to increase or decrease rates by which percent without ICC approval? 10

Which mode of transportation is excluded from the declaration of national transportation policy? Air Motor Rail Water

Which mode of transportation is excluded from the declaration of national transportation policy? Air

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

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

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

The only true form of nationalization in the U. S The only true form of nationalization in the U.S. transportation system is: The Alaska Railroad

What is the relationship between the movement and storage elements of the logistics system? Negative and indirect Negative and direct Positive and indirect Positive and direct

What is the relationship between the movement and storage elements of the logistics system? Positive and direct

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

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

Which segment of the pipeline industry has the largest number of miles of intercity pipelines? Natural gas Oil Gathering lines Trunk lines

Which segment of the pipeline industry has the largest number of miles of intercity pipelines? Natural gas

Which of the following pairs are only for-hire carriers? Company-owned and exempt carriers Regulated and private carriers Exempt and private carriers Regulated and exempt carriers

Which of the following pairs are only for-hire carriers? Regulated and exempt carriers

Which is the proportion of variable costs to fixed costs in the cost structure of the air carriers? 40/60 60/40 80/20 20/80

Which is the proportion of variable costs to fixed costs I the cost structure of the air carriers? 80/20

Class I railroads carry what percentage of total intercity ton-miles of freight transported by mode? 50 60 75 98

Class I railroads carry what percentage of total intercity ton-miles of freight transported by mode? 98

Over 50% of railroads’ revenue dollar is expended for? Maintenance “way” expenses Labor costs Depreciation Fuel costs

Over 50% of railroads’ revenue dollar is expended for? Labor costs

Assuming the cost to place an order is constant, increasing Q Assuming the cost to place an order is constant, increasing Q* causes annual order cost to: Decrease Increase Remain the same Cannot be determined

Assuming the cost to place an order is constant, increasing Q Assuming the cost to place an order is constant, increasing Q* causes annual order cost to: Decrease

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

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

Which is an impossible description of raw material? Ubiquitous and pure Weight losing and ubiquitous Pure and localized Weight losing and pure None of the above

Which is an impossible description of raw material? Weight losing and pure

Demurrage is a charge for: Penalty charge for going beyond normal load/unloading time Penalty charge for being late with delivery Penalty charged for freight audits 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

Demurrage is a charge for: Penalty charge for going beyond normal load/unloading time

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

FAK rates make the most strategic sense for companies shipping: A variety of different types and classes of items

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: LV rate * WB = HV rate * MW WB * LV rate = MW * HV rate HV rate * LV rate = WB * MW

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: WB * LV rate = MW * HV rate

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? Dunnage Demurrage Detention Debarkation

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? Detention

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? 75 120 62.5 1.6

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? 62.5

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

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

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

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

With what type of purchase would you need to identify all possible suppliers? A straight rebuy A modified rebuy A new buy Routine purchase

With what type of purchase would you need to identify all possible suppliers? A new buy

The average inventory of XYZ Company is valued at $500,000 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? $50,000 $100,000 $200,000 $500,000

The average inventory of XYZ Company is valued at $500,000 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? $100,000

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

All of the following are assumptions of the EOQ except: Capital availability is limited

All the following are inventory risk costs except: Obsolescence Taxes Damage Shrinkage Relocation costs

All the following are inventory risk costs except: Taxes

How do carrying costs and order costs vary in the simple EOQ model? According to the time of the year and seasonality of demand Directly Inversely Not at all

How do carrying costs and order costs vary in the simple EOQ model? Inversely

Full cost equals $10 million 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: $7.8 million $3.0 million $2.3 million $10 million None of the above are correct

Full cost equals $10 million 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: $2.3 million

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)? 100 200 400 5,000

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)? 200

Sinclair Machinery imported 300 engines from a manufacturer in France 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? $100 $500 $990 None, duty paid cannot be refunded

Sinclair Machinery imported 300 engines from a manufacturer in France 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? $990