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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
waterways
c. The LASH ship carries loaded barges
d. Container service is for make-bulk
shipments
How does a LASH ship differ from a ship
that offers container service?
a.
b.
c. The LASH ship carries loaded barges
d.
Which of the following is not a legally
defined form of transportation?
a.
b.
c.
d.
e.
Common carriers
Contract carriers
Exempt carriers
Private carriers
Preferred carriers
Which of the following is not a legally
defined form of transportation?
a.
b.
c.
d.
e. Preferred carriers
Generally, at higher volumes of throughput,
a firm should utilize:
a.
b.
c.
d.
A public warehouse
A federal warehouse
A local warehouse
A private warehouse
Generally, at higher volumes of throughput,
a firm should utilize:
a.
b.
c.
d. A private warehouse
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
All of the following are true of Charter (or
Tramp) shipping industry, except:
a.
b.
c.
d. Operate on fixed routes
Which charter vessel arrangement transfer
full control of the ship to the charterer?
a.
b.
c.
d.
Voyage
Time
Demise
Liner
Which charter vessel arrangement transfer
full control of the ship to the charterer?
a.
b.
c. Demise
d.
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.
One-way voyage charter
Two-way voyage charter
Time charter
Bareboat or demise charter
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
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.
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:
a.
b.
c.
d.
e. Unloading vessel in buyer’s country
Which category of ocean shipping offers
common carrier service, sailing on set
schedules over specified sea routes?
a.
b.
c.
d.
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?
a. Liner service
b.
c.
d.
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
What are the required inputs for an MRP?
a.
b.
c.
d. Master production schedule, bill of
materials, inventory status file
Capacity of ships, in general, is most likely
to be defined in terms of
a.
b.
c.
d.
e.
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
a. Deadweight tons (DWT)
b.
c.
d.
e.
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.
The cost structure of liner operations is
a. Largely fixed.
b.
c.
d.
All of the following are true of the Liner
shipping industry, except:
a.
b.
c.
d.
e.
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:
a.
b.
c. Usually meant for a single shipper
d.
e.
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
The objectives of stockless purchasing
include all of the following except:
a.
b.
c. Increase the number of suppliers
d.
e.
Container ship capacity is most likely to be
defined in terms of
a.
b.
c.
d.
Deadweight tons (DWT)
Net registered tons (NRT)
Bale cubic (BC)
TEU’s
Container ship capacity is most likely to be
defined in terms of
a.
b.
c.
d. 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
a.
b.
c.
d.
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
a.
b. 4 times
c.
d.
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 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)?
a.
b.
c.
d. EOQ stays the same
Rail computer systems identify cars for
reconsignment and diversions. What are these
cars called?
a.
b.
c.
d.
Rollers
Passers
Progressors
Tracers
Rail computer systems identify cars for
reconsignment and diversions. What are these
cars called?
a. Rollers
b.
c.
d.
What is a pro-number?
a.
b.
c.
d.
e.
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.
b.
c. A shipment identification numbers
d.
Quality attributes of carrier service include
all of the following except?
a.
b.
c.
d.
Modal selection
Transit time reliability
Accuracy of shipment billing
Loss and damage experience
Quality attributes of carrier service include
all of the following except?
a. Modal selection
b.
c.
d.
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
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
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
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.
Entry regulations are established in
transportation to control which of the
following?
a.
b.
c.
d.
Excessive rates
Excessive competition
Monopolistic abuses
The recapture of excess profits
Entry regulations are established in
transportation to control which of the
following?
a.
b. Excessive competition
c.
d.
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.
b.
c.
d.
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?
a. The recapture clause
b.
c.
d.
What did the 3R Act establish?
a.
b.
c.
d.
Amtrak
Conrail
Government control over Amtrak
Federal regulation of the pipeline
What did the 3R Act establish?
a.
b. Conrail
c.
d.
Which of the following created the
Interstate Commerce Commission?
a.
b.
c.
d.
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?
a.
b. The Act to Regulate Commerce
c.
d.
Which of the following is correct regarding
the zone of reasonableness established
for air carriers using the standard
industry level as a basis?
a.
b.
c.
d.
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?
a. Above 5-10 percent, below 50 percent
b.
c.
d.
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.
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?
a.
b.
c.
d. 10
Which mode of transportation is excluded
from the declaration of national
transportation policy?
a. Air
b. Motor
c. Rail
d. Water
Which mode of transportation is excluded
from the declaration of national
transportation policy?
a. Air
b.
c.
d.
In the early years of the airline industry,
what was the major revenue source of
the airlines?
a.
b.
c.
d.
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?
a.
b.
c. U.S. Postal Service subsidies
d.
The only true form of nationalization in the
U.S. transportation system is:
a.
b.
c.
d.
Amtrak
The Alaska Railroad
Conrail
The U.S. Post Office
The only true form of nationalization in the
U.S. transportation system is:
a.
b. The Alaska Railroad
c.
d.
What is the relationship between the
movement and storage elements of the
logistics system?
a.
b.
c.
d.
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?
a.
b.
c.
d. 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?
a.
b.
c.
d.
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?
a.
b.
c. Detention
d.
Which segment of the pipeline industry has
the largest number of miles of intercity
pipelines?
a.
b.
c.
d.
Natural gas
Oil
Gathering lines
Trunk lines
Which segment of the pipeline industry has
the largest number of miles of intercity
pipelines?
a. Natural gas
b.
c.
d.
Which of the following pairs are only forhire carriers?
a.
b.
c.
d.
Company-owned and exempt carriers
Regulated and private carriers
Exempt and private carriers
Regulated and exempt carriers
Which of the following pairs are only forhire carriers?
a.
b.
c.
d. Regulated and exempt carriers
Which is the proportion of variable costs to
fixed costs in the cost structure of the
air carriers?
a.
b.
c.
d.
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?
a.
b.
c. 80/20
d.
Class I railroads carry what percentage of
total intercity ton-miles of freight
transported by mode?
a.
b.
c.
d.
50
60
75
98
Class I railroads carry what percentage of
total intercity ton-miles of freight
transported by mode?
a.
b.
c.
d. 98
Over 50% of railroads’ revenue dollar is
expended for?
a.
b.
c.
d.
Maintenance “way” expenses
Labor costs
Depreciation
Fuel costs
Over 50% of railroads’ revenue dollar is
expended for?
a.
b. Labor costs
c.
d.
Assuming the cost to place an order is
constant, increasing Q* causes annual
order cost to:
a.
b.
c.
d.
Decrease
Increase
Remain the same
Cannot be determined
Assuming the cost to place an order is
constant, increasing Q* causes annual
order cost to:
a. Decrease
b.
c.
d.
As customer service levels approach higher
levels (80-90%)), required inventory
levels begin to _______at a(n)________
rate.
a.
b.
c.
d.
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.
a. Increase; increasing
b.
c.
d.
Which is an impossible description of raw
material?
a.
b.
c.
d.
e.
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?
a.
b.
c.
d. Weight losing and pure
e.
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
Demurrage is a charge for:
a. Penalty charge for going beyond normal
load/unloading time
b.
c.
d.
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
FAK rates make the most strategic sense for
companies shipping:
a.
b. A variety of different types and classes
of items
c.
d.
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.
c.
d.
LV rate * WB = HV rate * MW
WB * LV rate = MW * HV rate
HV rate * LV rate = WB * MW
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:
a.
b. WB * LV rate = MW * HV rate
c.
d.
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.
d.
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?
a.
b.
c. Detention
d.
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.
d.
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?
a.
b.
c. 62.5
d.
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.
d.
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?
a.
b.
c. Northwestern
d.
Which of the following is the motor carrier’s
fractional share of the transportation
freight market based on revenue tonmiles?
a.
b.
c.
d.
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 tonmiles?
a.
b. 1/4
c.
d.
With what type of purchase would you need
to identify all possible suppliers?
a.
b.
c.
d.
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.
b.
c. A new buy
d.
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.
c.
d.
$50,000
$100,000
$200,000
$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?
a.
b. $100,000
c.
d.
All of the following are assumptions of the
EOQ except:
a.
b.
c.
d.
e.
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:
a.
b.
c.
d. Capital availability is limited
e.
All the following are inventory risk costs
except:
a.
b.
c.
d.
e.
Obsolescence
Taxes
Damage
Shrinkage
Relocation costs
All the following are inventory risk costs
except:
a.
b. Taxes
c.
d.
e.
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
How do carrying costs and order costs vary
in the simple EOQ model?
a.
b.
c. Inversely
d.
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.
d.
e.
$7.8 million
$3.0 million
$2.3 million
$10 million
None of the above are correct
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.
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.
c.
d.
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)?
a.
b. 200
c.
d.
Sinclair Machinery imported 300 engines
from a manufacturer in France. The
import duty paid was $1000. Finding no
market for the engines, Sinclair reexported the engines to Brazil and
applied for a drawback. How much of the
paid duty will Sinclair receive back?
a.
b.
c.
d.
$100
$500
$990
None, duty paid cannot be refunded
Sinclair Machinery imported 300 engines
from a manufacturer in France. The
import duty paid was $1000. Finding no
market for the engines, Sinclair reexported the engines to Brazil and
applied for a drawback. How much of the
paid duty will Sinclair receive back?
a.
b.
c. $990
d.