1. Common
Pitfalls
More
Pitfalls
Standards
Realistic
Marketing
Infrastructure
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500

2. What are the four common pitfalls of international business?
100

3. Costing, Standards, Marketing & Infrastructure
100

4. What is hard currency?
200

5. Hard currency is money that is widely accepted on the foreign currency exchange market and is easily converted to another currency by a bank.
200

6. Give an example of a soft currency.
300

7. An example would be Russia, Ukraine, China, Korea, etc.
300

8. What is the currency rating scale?
400

9. The rating scale is from AAA (very hard) to D (very soft)
400

10. What term is used to protect oneself from currency fluctuations by buying the currency at the time of the transaction?
500

11. BUY FORWARD
500

12. What is an issuing bank?
100

13. An issuing bank is usually the importer’s bank that issues documentation or record.
100

14. What is the term for the exporter’s bank?
200

15. Advising Bank
200

16. This document verifies that there are sufficient funds in the account to handle the transaction.
300

17. LETTER OF CREDIT
300

18. These increase the price of imported goods to ensure existing Canadian goods are priced more competitively.
400

19. TARIFFS
400

20. This is a method of stowage of freight in sealed, reusable containers of uniform size and shape.
500

21. CONTAINERIZATION
500

22. What problem exists when importing foreign produced appliances and/or videos?
100

23. NON-COMPATABILITY
100

24. What is an organized campaign where individuals refuse to purchase a company’s or a country’s product?
200

25. BOYCOTT
200

26. What is ISO?
300

27. International Organization for Standardization
300

28. What is the importance of the ISO?
400

29. Ensures standards for specifications and criteria are met around the world.
400

30. Other than DVD’s or video tapes or appliances, name another product that has standard problems here in Canada.
500

31. Clothing or Shoes
500

32. What is marketing?
100

33. All activities involved in the planning, pricing, promoting, distributing, selling of goods and services to satisfy consumers’ needs and wants.
100

34. What is meant by B2B?
200

35. A business-to-business relationship such as Staples supplying the school with paper.
200

36. What key marketing step is necessary prior to going international?
300

37. Market Research
300

38. Name 3 of the labelling criteria here in Canada.
400

39. Country, French/English, ingredients, amount, minimum font size, product identification, company identification, shelf life, artificial flavours.
400

40. Name one holiday that Canada recognizes, but other countries do not.
500

41. Various examples such as Valentine’s Day, Mother’s Day, Halloween, etc.
500

42. What is infrastructure?
100

43. Infrastructure is the large-scale public systems, services, and facilities of a country or region that are necessary for economic activity. (power systems, roads, banks, hospitals, schools, water supplies, transportation, etc.)
100

44. Name 3 areas of research necessary prior to having an extended stay in a country.
200

45. Accommodations, food, health, safety, education, business support services, financial services, official Canadian presence, communication and business etiquette.
200

46. Name one website that will assist travellers from Canada in other countries.
300

47. Transport Canada, Consumer Affairs, Foreign Affairs Canada, Service Canada, DFAIT, etc.
300

48. What is the currency in China?
400

49. Yuan Renminbi
400

50. The internet is highly controlled by this government along with taxes
The internet is highly controlled by this government along with taxes. Business etiquette is important in terms of business card colours and presentation.
500

51. CHINA
500