IRMI Update Quiz
According to the latest issue of The Risk Report, tariff increases would force a reconsideration of the common valuation of imported cargo. What does the acronym "CIF" typically represent in the valuation formula "CIF + 10% uplift"?
A. Cost of goods, insurance, and freight
B. Cargo, import, and fees
C. Customs, insurance, and freight
D. Cost, import tariffs, and freight
Correct Answer: A. CIF is a standard trade term indicating the cost of the goods, the insurance covering those goods during transit, and the freight to the destination port. Identifying and maintaining safe and reliable shipping methods has become a central concern not only for supply chain managers but also for enterprises of any size that ship or receive goods. Subscribers to The Risk Report can learn more in the latest article, "Transit Risk: Always a Moving Target."
