Online Access Free L3M1 Practice Test

'Price' and 'payment terms' are the same thing.
True or false?

• A.False
• B.True

In terms of interest rates, the 'base rate' is:

• A.The interest rate stated within a contract of supply for late payments
• B.The interest rate used to calculate repayments on a credit card
• C.The interest rate payable on a loan for the procurement of a new instrument
• D.The interest rate set by government or the central bank of a country

On a diagram of the Product Life Cycle, the x-axis shows:

• A.Profit
• B.Time
• C.Growth
• D.Decline

Which one of the following is a commercial document issued by a seller stating what the cost would be of supplying certain goods or services, normally in response to an enquiry by the buyer?

• A.Supplier quotation
• B.Commercial invoice
• C.Pre-qualification question naire
• D.Request for quotation

'Trade within major trading blocs tends to expand, whereas this is not necessarily the case regarding trade between major trading blocs'. True or false?

• A.False
• B.True