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FSOT: 500 Test Prep Study Questions - Question List

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61. Which of the following special provisions are contained in all World Trade Organization (WTO) agreements for developing or least-developed member countries?
  1. Measures to limit their trading opportunities
  2. Provisions requiring all WTO members to safeguard their trade interests
  3. Shorter time periods to implement agreements and commitments
  4. Support to help them opt out of technical standards
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62. A host country manufacturer seeks trade preference status with the U.S.; however, the Foreign Service Officer (FSO) is aware that the country is a known exploiter of child labor. The FSO should explain that pursuant to the Trade and Development Act:
  1. under no circumstances will the U.S. do business with the country
  2. the Generalized System of Preference now links beneficiary countries' commitment to eliminate the worst forms of child labor to receipt of trade benefits
  3. the country cannot obtain preference status until it proves that child labor has been eliminated by its political jurisdiction
  4. only certain types of child labor are acceptable in the countries to which the U.S. grants trade preference status
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63. The European Union (EU) promotes free trade among its member states. Over the years, EU membership has grown to 25 countries with more European countries seeking membership. Which of the following statements would be most appropriate for a U.S. official to make at a trade summit organized between the U.S and the EU in 2006?
  1. "The U.S. and the EU share a longstanding commitment to free and open markets, and the U.S. is looking forward to continuing to work with the EU in further promoting free trade and economic integration across the Atlantic region."
  2. "Both the U.S. and the EU have supported free trade expansions in the past and it is important that a larger EU not jeopardize free trade talks under the World Trade Organization."
  3. "The EU must recognize that the U.S. has many vital economic interests in Europe and that the U.S. will always act to protect those interests."
  4. "The U.S. believes that an expanding EU poses an economic danger to non-EU countries and the U.S. therefore wishes to see no further expansion of the common market within the EU."
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64. Which of the following characteristics would LEAST apply to investment recovery inventory?
  1. Unpredictable generation
  2. Unpredictable demand
  3. Unknown condition
  4. Simplified pricing
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65. When negotiating an inventory resupply arrangement for gasoline, which of the following issues would typically be addressed last?
  1. Price
  2. Consequences of running out
  3. Stability of Supply
  4. Potential fluctuation of consumption rates
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