UI Post-UTME Commerce 2025 (Model questions) Question 22

In computing the price of goods in foreign trade, the following terms are used:
I. FOB (Free on Board) — seller's price includes cost up to loading on ship
II. CIF — price includes cost, insurance, and freight to destination port
III. FAS — seller delivers goods alongside the vessel only
IV. EXW (Ex-Works) — seller bears all transport costs to the buyer's warehouse

1. A.I, II and III only
2. B.I and IV only
3. C.II and III only
4. D.All of the above