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APICS CLTD Exam - Topic 1 Question 100 Discussion

Actual exam question for APICS's CLTD exam

Question #: 100
Topic #: 1

[All CLTD Questions]

Which of the following rules specifies whether the importer or exporter is responsible for insuring cargo?

AWorld Trade Organization (WTO) rule

BLloyds of London rule

CIncoterms rule

DShipper's rule

Show Suggested Answer

Suggested Answer: A

by Florinda at Apr 03, 2025, 06:21 PM

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Margot

6 months ago

I was surprised to learn that too, but Incoterms really do clarify it!

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Catalina

7 months ago

Nah, it's all about Incoterms, no doubt there.

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Annamae

7 months ago

It's definitely the Incoterms rule that covers insurance responsibilities.

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Paola

7 months ago

Totally agree, Incoterms are key for that!

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Karol

7 months ago

Wait, are you sure? I thought it was the Shipper's rule.

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Josephine

7 months ago

I feel like the Shipper's rule could be a possibility, but I also remember Incoterms being the main reference for these kinds of questions.

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Jacki

8 months ago

I’m a bit confused about this one. I thought the WTO had some guidelines, but I can't recall if they specifically cover insurance responsibilities.

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Stefania

8 months ago

I remember practicing a question similar to this, and I think the answer was related to Incoterms too. It defines who pays for insurance, right?

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Dorsey

8 months ago

I think it might be the Incoterms rule, but I'm not completely sure. We covered it in class, and it seemed important for shipping responsibilities.

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Fredric

8 months ago

Okay, I've got this. Incoterms are the internationally recognized commercial terms that cover things like cargo insurance responsibility. That's the rule I'm going with.

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Dewitt

9 months ago

I'm a bit confused by the options - I don't recognize Lloyds of London or the Shipper's rule as standard trade terms. I'll have to narrow it down.

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Jenise

9 months ago

Incoterms definitely sound like the right answer here. I remember learning about how they specify responsibilities like cargo insurance.

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Joseph

9 months ago

Hmm, I'm not totally sure about this one. I'll need to think through the different international trade organizations and rules.

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Victor

9 months ago

I'm pretty sure this is an Incoterms question, so I'll focus on reviewing those rules.

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Evette

1 year ago

Incoterms rule, of course! It's like the UN of international trade terms - you can't go wrong with that.

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Denise

1 year ago

The Shipper's rule? Sounds like something my grandpa would make up. I'm going with the Incoterms, it's the only one that makes sense here.

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Teri

1 year ago

Yeah, the Shipper's rule does sound a bit old-fashioned. Incoterms rule seems like the right choice.

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Margo

1 year ago

I agree, the Incoterms rule is the most relevant one in this case.

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Jose

1 year ago

I think the Incoterms rule is the one that specifies who is responsible for insuring the cargo.

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Cyndy

1 year ago

Hmm, I thought the Lloyds of London rule was for insuring ships, not cargo. But maybe they have a special cargo insurance rule too, who knows?

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Donte

1 year ago

Actually, Lloyds of London does have rules for insuring cargo as well.

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Felix

1 year ago

B) Lloyds of London rule

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Salina

1 year ago

C) Incoterms rule

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Kris

1 year ago

I think the Incoterms rule specifies who is responsible for insuring cargo.

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Moon

1 year ago

B) Lloyds of London rule

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Emelda

1 year ago

C) Incoterms rule

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Leoma

1 year ago

A) World Trade Organization (WTO) rule

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Eva

1 year ago

A) World Trade Organization (WTO) rule

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Queenie

1 year ago

C) Incoterms rule - that's the one I remember from my logistics class. It's like the secret code of global shipping.

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Shelia

1 year ago

The Incoterms rule definitely covers this. It's like the Bible of international trade terms, you know?

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Shalon

1 year ago

I'm not sure, but I think it might be D) Shipper's rule.

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Kiera

1 year ago

I agree with Samira. Incoterms rule specifies who is responsible for insuring cargo.

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Samira

1 year ago

I think the answer is C) Incoterms rule.

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