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Question
In the context of foreign trade, the CIF cost may be obtained by ______________________.
In the context of foreign trade, the CIF cost may be obtained by ______________________.
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Solution
The correct option is A Adding freight and marine insurance premium to the FOB price
In the context of foreign trade, the CIF cost may be obtained by adding freight and marine insurance premium to the FOB price. CIF is an expense that is paid by a seller to cover the costs, insurance, and freight of a buyer's order when it was in transit. Cost, insurance, and freight (CIF) is a method of import and export shipping. It also determines the responsibility for goods transfers from the seller to the buyer. Thus the correct answer is A.
In the context of foreign trade, the CIF cost may be obtained by adding freight and marine insurance premium to the FOB price. CIF is an expense that is paid by a seller to cover the costs, insurance, and freight of a buyer's order when it was in transit. Cost, insurance, and freight (CIF) is a method of import and export shipping. It also determines the responsibility for goods transfers from the seller to the buyer.
Thus the correct answer is A.
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