Online Freight Broker Course quiz 1

What is a broker? Broker is a person or an entity other than a motor carrier that arranges for the transportation of property by a motor carrier for compensation Broker does not transport the property and does not assume responsibility for the property. Both A & B

Both A & B

A person who, for compensation, arranges, or offers to arrange, the transportation of property by an authorized motor carrier. Motor carriers, or persons who are employees or bona fide agents of carriers, are not brokers within the meaning of this section when they arrange or offer to arrange the transportation of shipments which they are authorized to transport and which they have accepted and legally bound themselves to transport. Carrier Broker Owner Operator Freight Forwarder

Broker

What does a weight distribution analysis prevent? Having freight fall off the truck Building trucks that are overloaded In-efficient mileage for the truck

Building Trucks that overloaded

Overload has the potential to do all except Shorten vehicle life Prevent compliance with weight laws Extend vehicle life Prevent compliance with federal safety standards

Extend vehicle life

Must freight forwarders and brokers register with FMCSA?

YES. Freight forwarders and brokers are required to register with FMCSA. Freight forwarders that perform both freight forwarder services and motor carrier services must register both as a freight forwarder and as a motor carrier.

Freight brokers are also known as "truck" brokers "transportation" brokers "property" brokers All of the above

All of the above

The key role of the broker activity is to make reliable relationships with the shippers and carriers, and provide the shipper with different options for the fulfillment of delivering their cargo. True False

T

A tandem-drive truck has two rear axles of 14,000 each. They are limited to a total of ________ for the pair of axles.

28,000

A Type of close which involves restructuring the payment scheme to suit the buyer's needs. Affordable Close Trust Close Assumptive Close

Affordable

Freight rates are based on many factors, including: The distance the shipment is moving The shipment's weight The density of the commodity being shipped All of the above

All of the above

What is a freight forwarder? Assembles and consolidates, or provides for assembling and consolidating, shipments performs or provides for break-bulk and distribution operations of the shipments Assumes responsibility for the transportation from the place of receipt to the place of destination; and Uses for any part of the transportation a rail, motor or water carrier subject to the jurisdiction of either FMCSA or the Surface Transportation Board. All of the Above

All of the above

This technique gives your prospective client several options on any particular aspect of your service. Trial Choice Close Alternative Choice Close Affordable Choice Close

Alternative Choice Close

Type of payments that are received prior to date of invoice. Disc -payments Antic -payments Ppt -payments Ppt-Slow payments

Antic-payments

Type of carrier that provides for-hire truck transportation to the general public. Contact Carriers Common Carriers Cargo Carriers Broker Carriers

Common Carriers

What is the minimum level of financial security that a broker must maintain on file with FMCSA?

Currently, a general freight broker must maintain a surety bond or trust fund agreement in the amount of $10,000 to comply with FMCSA's financial security requirements and brokers of household goods must maintain $25,000.

What is the main factor affecting how much weight is moved per hole?

Distance between the locking pin holes on the trailer

A broker shall, indirectly or directly, represent its operations to be that of a carrier. Any advertising shall show the broker status of the operation. True False

F

Does a motor carrier that participates in freight interlining have to register as a broker? True False

F

Weight distribution is the amount of half of the total vehicle weight imposed on the ground at an axle, group of axles, or an individual wheel. True False

F

They are used by the industry to arrange for the transportation required by the shipping company. Auto Broker Customs Broker Freight Broker Insurance Broker

Freight Broker

Fill in the Blank: Axle capacities are limited either by the axle capacity or legal weight limits- whichever is _______ Higher Lower Equal to one another

LOWER

The most widely used websites by the freight brokers to post the shipper loads available with them. Logistic website Load Boards / Loading Boards Commission website FMCSA

Load Boards/loading boards

Does a broker process loss and damage claims?

NO, a broker assumes no responsibility for the shipment and does not touch the shipment. A claim must be filed with the appropriate motor carrier, which usually would be the delivering carrier or the carrier causing the loss. Brokers may, however, assist shippers in filing claims with the motor carrier on the shipper's behalf.

A self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers. Company Drivers Owner Operator LTL Drivers Drayage Drivers

Owner Operator

Payments that are received within terms granted. Disc -payments Antic -payments Ppt -payments Slow -payments

Ppt-payments

What is the number one most important concept in redistributing weight across axles? Sliding trailer tandems forward takes off weight, sliding them back adds weight to the tandems. Sliding trailer tandems forward adds weight, sliding them back adds weight from tandems Sliding trailer tandems forward adds weight, sliding them back removes weight from tandems. Sliding trailer tandems forward takes off weight, sliding them back takes off weight from tandems

Sliding trailer tandems forward adds weight, sliding them back removes weight from tandems.

A rate quote for an individual Line haul. Load quote Spot quote Freight quote Carrier quote

Spot quote

9.Broker authority is a license granted by the Federal Motor Carrier Safety Administration and it is required to operate as a freight broker within the United States. True False

T

A broker shall not perform or offer to perform any brokerage service in any name other than that in which its registration is issued. True False

T

A broker's license is NOT a "mode" of transportation and a property broker can not take ownership of the bill of lading. True False

T

A company's Paydex score is the business equivalent to your personal FICO score, or personal credit score. True False

T

A freight broker needs to use good negotiating skills to complete a "competitive" transaction. True False

T

As a household goods broker, you may do business only with a motor carrier that has a valid USDOT number and valid household goods motor carrier authority. True False

T

By sliding the trailer tandems forward, you will put more weight on the trailer tandems and take weight off the tractor's drive axles. True False

T

Does FMCSA require an interline carrier to obtain operating authority? True False

T

Federal Motor Carrier Safety Administration (FMCSA) is the only governing body for Freight Brokers. True False

T

Freight forwarders may receive multiple shipments from multiple points of origin and combine those shipments into one shipment going to a single destination. True False

T

In the world of finance and business, the cost of not doing something is called opportunity cost. True False

T

Managing credit in your small business is based around correct information, communication and control. True False

T

Proof of financial responsibility is a condition to obtaining and maintaining operating authority. True False

T

The Adjournment Close is particularly easy to manage when the sales person has a face-to-face meeting with the customer, instead of waiting on a call back. True False

T

The Balance-Sheet Close works through building Trust by seeming to be taking a balanced and fair approach. True False

T

The Bracket Close works through contrasting the preferred option both upwards and downwards. True False

T

What is freight interlining? To interline a shipment is to transfer the shipment between two or more carriers for movement to final destination. Interline a shipment involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation

To interline a shipment is to transfer the shipment

24.A simple question that gets the customer thinking about the possibility of using your services Trial Close Assumptive Close

Trial close

Becoming a freight broker requires the applicant to submit three (3) forms to the FMCSA except: OP-1 Form BMC-84 OR BMC-85 Form BOC-3 Form UCC Form

UCC