1. Name 5 founding members of ASEAN
a. Vietnam, The Philippines, Thailand, Indonesia, Malaysia
b. Singapore, Malaysia, Indonesia, the Philippines, Thailand
c. Thailand, Laos, Cambodia, Vietnam, Myanmar
d. Indonesia, Thailand, Myanmar, Malaysia, Singapore
2. When was ASEAN established?
a. 8 August 1967
b. 9 September 1967
c. 10 October 1967
d. 11 November 1967
3. Which country has the largest population in ASEAN
a. Malaysia
b. Thailand
c. The Philippines
d. Indonesia
4. Which is not an aim of ASEAN
a. Accelerate economic growth
b. Promote regional peace
c. Maintain close and beneficial cooperation with other organizations
d. Unite South East Asian economies against common threats
5. Which country is an observer of ASEAN?
a. Myanmar
b. Laos
c. Cambodia
d. Timor East
6. Which is one of the general provisions of the Common Effective Preferential Tariff (CEPT)
a. Requires that at least 50% of a product’s content originates from any member state to
be eligible as originated from ASEAN
b. Member states can decide whether or not to participate in CEPT
c. Products in Inclusion list will have their tariff reduced from 20% and below to 0-5%
d. Identification of products to be included in the CEPT Scheme shall be on HS8 level
7. What is the features of tariff reduction schedule of products in Fast track under Common
Effective Preferential Tariff (CEPT)?
a. Tariffs above 20% will be reduced to 0-5% within 7 years and tariffs below 20% will be
reduced to 0-5% within 5 years
b. Tariffs above 20% will be reduced to 0-5% within 10 years and tariffs below 20% will be
reduced to 0-5% within 7 years
c. Tariffs above 20% will be reduced to 0-5% within 15 years and tariffs below 20% will be
reduced to 0-5% within 10 years
d. Depends on specific goods and their respective HS code
8. What type of product is subjected to special treatment under the Common Effective Preferential
Tariff (CEPT)?
a. Unprocessed agriculture products
b. Electronic goods
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c. Textiles and footwear
d. All of these above
What is Asia-Pacific Economic Cooperation (APEC)
a. A free trade area
b. An international alliance
c. An inter-governmental forum
d. A common market
Which country was the host of this year’s APEC Economic Leaders’ meeting?
a. Vietnam
b. New Zealand
c. Australia
d. South Korea
When was APEC established?
a. 1969
b. 1979
c. 1989
d. 1999
When was the last time that Vietnam hosted the APEC Economic Leaders’ Meeting?
a. 2021
b. 2019
c. 2017
d. 2015
What was the main concerns of APEC Economic Leaders’ Meeting in general?
a. Free trade and comprehensive economic cooperation
b. Economic, environmental, and political cooperation
c. Competition with other parts of the world like the European Union, especially in
economic and trade
d. Platform for big powers (USA, China, Russia, Japan) in the region to negotiate
What are different lists of products under Common Effective Preferential Tariff (CEPT)?
a. Inclusion list, temporary exclusion list, general exclusion list, sensitive list
b. General exclusion list, fast track list, normal track list, sensitive list
c. Inclusion list, general exclusion list, normal list, sensitive list
d. Preferred list, sensitive list, general exclusion list, inclusion list
Which one is the principle of APEC?
a. Principles of trade liberalization and facilitation (a)
b. Non-binding investment principles (b)
c. Peaceful dispute settlement and prevention (c)
d. Both A and B
e. All A, B, and C
How many time did Vietnam host the APEC Economic Leaders’ Meeting?
a. 1
b. 2
c. 3
d. None
17. Which agency/conference has the highest authority in APEC?
a. Ministers’ Meeting
b. APEC secretariat
c. APEC Business Advisory Council
d. Leaders’ meeting
18. What is the main difference between WTO’s non-discrimination clause of Most Favored Nation
(MFN) and National Treatment (NT)?
a. MFN says that if a country gives another country any special treatment, it has to give
that same special treatment to all other members of WTO while NT deals with
discrimination between a country’s treatment towards its own domestic goods/entities
and towards imported goods/foreign entities.
b. NT says that if a country gives another country any special treatment, it has to give that
same special treatment to all other members of WTO while MFN deals with
discrimination between a country’s treatment towards its own domestic goods/entities
and towards imported goods/foreign entities.
c. MFN is required under WTO but NT is depended on each country’s policy. Countries has
the right to maximize its national interests so NT clause must be flexible.
d. NT is required under WTO but MFN is depended on each country’s policy. Countries has
the right to maximize its national interests so MFN clause must be flexible.
19. What is the name of the free trade agreement preceded the WTO in facilitating free trade?
a. General Agreement on Tariffs and Trade (GATT)
b. International Trade Organization (ITO)
c. General Agreement on Trade in Services (GATS)
d. United Nations Conference on Trade and Employment (UNCTE)
20. WTO was established under which round of negotiation?
a. Tokyo round
b. Geneva round
c. Kennedy round
d. Uruguay round
21. Which agency/agencies has the highest authority in decision making for WTO?
a. Both Ministerial conference and General Council
b. Ministerial conference
c. General Council
d. General Council and Dispute Settlement Council
22. WTO’s Trade Councils consist of
a. Council for Trade in Goods, Council for Trade in Services, Council for Trade Related to
Intellectual Property Rights
b. Council for Trade in Goods, Council for Trade in Services, Council for Trade in Human
Resources
c. Council for Trade in Goods and Services, Council Trade Related to Intellectual Property
Rights, Council for Trade in Human Resources
d. Council for Trade in Goods and Services, Council for Trade in Human Resources, Council
for Trade in International Currencies
23. Why did WTO’s Doha Development Round failed? (Choose ALL correct answers)
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a. Differences among countries about agricultural products
b. Differences in opinion about special treatment for developing countries
c. Differences in how to minimize environmental issues through trade
d. Differences in resolving disputes in trade among countries
What is not a principle of WTO?
a. Provide incentives for developed countries members.
b. Enhance trade liberalization.
c. Create fair competition environment.
d. Eliminate discrimination.
When a country became a member of the Euro Zone, which types of financial policy is affected?
a. Monetary policy
b. Fiscal policy
c. Both monetary policy and fiscal policy
d. Both are not affected
What is the Euro Zone?
a. A free trade area
b. A common market
c. A monetary union
d. A common market and a monetary union
e. A monetary union and a free trade area
Before the establishment of the European Union, which organization/organizations was EU
preceded by? (Choose ALL correct answer)
a. European Economic Community (EEC)
b. European Coal and Steel Community which consisted of Belgium, France, Italy,
Luxembourg, the Netherlands, and West Germany (ECSC)
c. European Council (EC)
d. European Commission
e. European Parliament
When did Vietnam become a member of WTO?
a. 2005
b. 2007
c. 2009
d. 2011
Which is/are the agency/agencies that in charge of legislative functions for the EU?
a. European Commission
b. European Commission and European Parliament
c. Council of the EU and European Parliament
d. European Courts of Justice and European Parliament
When was the EU-Vietnam Free Trade Agreement became effective?
a. 2015
b. 2019
c. 2020
d. 2021