Multiple Choice: Fach question is worth 3 points. 1. a. A single rail tanker car

Question

Multiple Choice: Fach question is worth 3 points. 1. a. A single rail tanker car b. Truck What mode of transportation for oil has the largest volumetric capacity of the methods listed below? c. ULCC d. VLCC Which area of a trading firm would be in charge of the controls of counterparty and payment set-up process, daily reconciliation to clearing brokers, and sub-ledger and trading system to ledger reconciliation? A. Settlement B. Liquidity Management C. Financial Reporting. D. A and C only E. All of the above 2. -3. Which terms apply to the Incoterms for a FOB trade? a. Risk transfers at departure port b. Buyer arranges and pays for shipping c. Buyer takes possession at port of destination d. A and B only e. All of the above 4. Which group would be best knowledge source in dealing with laws and regulations around imports exports, motor fuels and ethanol, and chemical control? a. Scheduler b. Regulatory Compliance c. Freight traders d. Vessel operations coordinators Who within the organization is responsible for internal controls? a. the Internal Auditors b. Management e. all employees play a role in the internal control system. d. A and B only e. All the above

Explanation / Answer

1. C

Ulcc it carry of 300000 tons of oil

2. A

Settlement department because people involve in settling the dues and makes entry of day to day transactions.

3.E

FOB free on board

Either seller nor the buyer is now having the responsibility on the goods which on the board.

4.B

Regulatory department will take of laws and compalinace of the company

5.D

Internal auditors and management will take of internal audit issues of the company.

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