Transportation Economics Assignment

Transportation Economics Assignment

Transportation Economics Assignment

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INSTRUCTIONS:

The exam consists of 50 multiple choice or true/false questions. Each has only 1 correct answer. Each correct answer is worth 2 points. Please pay attention to instructions in class, in emails and on Blackboard.

1.Which of the following is a segment of motor freight transportation:

A. Taxi cab fleet

B. Dedicated fleet of barges

C. Hovercraft fleet

D. A class I railroad

E. Regional LTL carrier

2.For hire trucking companies:

A. Provide delivery service to the public for an agreed fee

B. Charge a fee for transporting only property that is to their liking

C. Are not required to register with the FMCSA

D. Must publish their tariffs with the DOT

E. None of the above

3.The definition of “Private Trucking” is that the shipper (or consignee) owns its own fleet of trucks, operates the trucks, and employs the drivers. Private fleets can offer their service to other shippers, and many do so to create backhauls.

A.              T      or

B.              F

4.The U.S. trucking industry produces:

A. Approximately 86% of the national freight bill

B. About $120 million in freight billings

C. Employment for 1.0 million people

D. 350 million miles driven per annum

E. None of the above

5. In the motor freight segment of transportation wages and benefits account for

Approximately 27% of the total cost.

A.              T      or

B.              F

 

 

6.Motor freight service is characterized by:

A. High degree of accessibility/flexibility

B. Slowest terminal-to-terminal transit time of all modes

C. Single 53’ trailer can haul about 65,000 pounds of cargo.

D. Usually slowest mode up to a length of haul of 500 miles

E. All of the above

7. Motor freight can be subdivided into more specific categories. Which of the following is a category of motor freight:

A. Small parcel air delivery

B. Pipeline

C. Full truckload service

D. Unit trains

E. Barge service

8. Which of the following is a segment of Truckload Motor Freight:

A. LTL

B. Parcel Delivery

C. Intermodal

D. General Cargo (Dry Vans)

E. None of the above

9. Truckload operations generally require that the shipper load the trailer.

A.              T     or

B.              F

10. Fuel is a large component of variable cost of truckload carriers.

A.              T     or

B.              F

11. Truckload carriers usually charge:

A. A price per 100 lbs of cargo driven

B. A flat rate per trailer from Point A to Point B

C. Per cubic meter of the cargo loaded in the trailer

D. Cents per kilo of the cargo loaded in the trailer

E. All of the above

12. Temperature controlled vans are used by shippers to prevent the contents of the trailer from getting too hot or too cold.

A.              T     or

B.              F

 

 

13. Truckload carriers charge a Fuel Surcharge that is usually based on:

A. The average price of diesel fuel at public pumps in different regions of the U.S., as published by the Department of Energy

B. The number that comes up on a die rolled by the Secretary of Energy on the 1st day of each month

C. An Executive Decree issued b the President of the American Trucking Association

D. The fact that the FSC does NOT vary too much over time.

E. None of the above

14. Trucking companies that specialize in moving marine containers:

A. Do not usually own the containers

B. Do not usually own the chassis

C. Only provide the power unit (AKA tractor or truck) and driver

D. Are generally not responsible for repairs and maintenance to the container or chassis

E. All of the above

15. Trucks carrying over dimensional or overweight cargo may incur costs for special permits and escort services, which the carrier bills to the shipper or consignee .

A.              T     or

B.              F

16. The primary phases of an oil well or gas well’s life require many different forms of transportation.       A.      T    or

B.              F

17. In the U.S. motor carriers of property are generally liable for 100% of the delivered market value of any loss of or damage to said property.

A.              T  or

B.              F

18. There are exceptions to this law, which include all the following except:

A. When the BOL is executed on a U.S. holiday

B. When the Bill of Lading contains wording clearly indicating that the shipper agreed to a lower liability in exchange for a lower transportation rate (Released Value)

C. When the carrier’s tariff contains language specifying that it will be responsible for loss or damage only up to a certain amount.

D. When the shipper-carrier contract explicitly states that the carrier is accepting the cargo at a reduced value for liability purposes.

E. None of the above

19. Liability and insurance are different facets of cargo loss or damage.

A.              T    or

B.              F

 

20. LTL operations are usually based on a hub and spoke system.

A.              T    or

B.              F

21. LTL carriers consolidate many smaller shipments for hauling the cargo long distances from one hub to another.

A.              T    or

B.              F

22. At the destination hub the carrier deconsolidates the freight and loads smaller “city trucks” to make the delivery to the consignee’s specific address.

A.              T    or

B.              F

23. In general the average weight of a U.S. surface shipment moving via a parcel carrier:

A. Is > 20,000

B.Is > 1 kg

C.Is always expressed in Kilograms

D .On average weights under 150 lbs

E. Exceeds the weight capacity of the 747  F Series 400

24. LTL prices are usually documented in one of three ways. Those three ways are:

A. In the Friday edition of the Wall Street Journal

B. The carrier’s tariff

C. In a documented rate quote

D. In the DOT Manual of Trucking Rates

E. In a confidential contract between the shipper and carrier

F. B, C or E

25. It is important for transportation managers understand and utilize the concept of “Breakeven Point” between LTL and TL for a given shipment.

A.              T    or

B.              F

26.Railroads performed a vital role in the populating of the U.S frontier and in the process of industrialization in the U.S. and Europe.

A.              T    or

B.              F

27. The current trackage in the US is approximately how much lower than it was at its peak?

A. 98%

B. 11%

C. 137%

D. 37%

E. None of the above

28. Currently ton-miles moved by rail per year number approximately:

A. 1,850

B. 1,850,000

C. 2 trillion

D. 1,850,000,000

E. None of the above

29. “Merger Mania” dramatically reduced the number of Class I railroads in the U.S. from  _____ to  7.

A. 250

B. 7

C. 106

D. 1,247

E. None of the above

30. The period of deregulation of the railroads began with the:

A. Constitution of the US

B. The Interstate Commerce act

C. The RRRRA of 1976

D. The Carmack amendment

E. The Treaty of Versailles

31.The Staggers Act was the single most important deregulation legislation at the time . It:

•       A.Provided greater pricing freedom

•       B. Streamlined merger timetables

•       C. Expedited line abandonment process

•       D. Allowed multi-modal ownership

•       E. Permitted confidential contracts with shippers

•       F. All the above

32. Which of these are among the remaining Class 1 railroads?

A. Milwaukee Road

B. Pennsylvania Railroad

C. New York Central

D. BNSF

E. D&RGW

33. The “profile” of railroading includes which of these:

A. “Greener” than trucking

B. More fuel efficient than tucking

C. Inflexible service areas

D. High capital costs

E. All the above

34. Which of these are economies of scale that can be created by the rail?

A. High speed trains

B. Double stack trains

C. Agrifuels

D. Unit trains

E. B and D

35.The fuel consumption of railroad trains is 1 gallon of fuel for 455 ton-miles

A.              T    or

b.              F

36.Principal commodities moved via rail include:

A. Wood

B. Paper

C. Agricultural products

D. Coal

E. Chemicals

f. All the above

37. Intermodal operators are go-betweens. The parties that are involved with an intermodal movement are usually:

A. The railroad

B. A local drayage company

C. A long haul trucker

D. An Intermodal Marketing Company

E. All of the above

F. A, B and D

38. The Wright brothers are known for the first manned flight, which took place In Kitty Hawk, NC in:

A. 2013

B. 1812

C. 1776

D. 1913

E. None of the above

39.By 1921 the U.S. had coast-to-coast airmail routes.  T    or    F

40. The impact of WWI on US aviation included:

A. Spurred commercial development of aviation

B. Unemployed pilots, surplus aircraft

C. U.S. heavily subsidized air mail (accelerated velocity of money supply)

D. A, B and C

E. None of the above

41. Air’s claim to fame in the transportation arena is:

A. Inexpensive

B. Very “green”

C. Speed

D. Luxurious coach class amenities

E. All the above

42. Air freight specializes in hauling high-value, perishable or emergency cargo    T    or    F

43. The % of airline revenue generate by freight is about 12%.   T    or    F

44. The  Antonov 225 can carry up to about 600,000 pounds of cargo.    T     or     F

45. A ULD is a Unit Load Device, the utilization of which benefits the air carrier by:

A. Providing more protection to the cargo

B. Decreasing the time it takes to “turn around” an aircraft

C Reducing the stress on the flight crew

D. Creating a classy image for the airline

E. A and B

46. Air Freight Forwarders add value to the supply…

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