United Nations Convention on the Law of the Sea (UNCLOS)

Convention on the Taxation of Income Derived from International Shipping (OECD Model Tax Convention)

International Monetary Fund (IMF) Articles of Agreement

World Trade Organization (WTO) Agreement

Territoriality principle

Nationality principle

Source principle

Residence principle

A system of taxation based on the net tonnage of a ship

A system of taxation based on the gross tonnage of a ship

A system of taxation based on the cargo carried by a ship

A system of taxation based on the number of passengers carried by a ship

To encourage the development of the shipping industry

To discourage the development of the shipping industry

To raise revenue for the government

To protect the environment

A tonnage tax is based on the net tonnage of a ship, while a profit tax is based on the profits of a shipping company

A tonnage tax is based on the gross tonnage of a ship, while a profit tax is based on the profits of a shipping company

A tonnage tax is based on the cargo carried by a ship, while a profit tax is based on the profits of a shipping company

A tonnage tax is based on the number of passengers carried by a ship, while a profit tax is based on the profits of a shipping company

It provides a more favorable tax regime for shipping companies

It encourages the development of the shipping industry

It reduces the administrative burden for shipping companies

All of the above

It can lead to a loss of tax revenue for the government

It can be difficult to administer

It can be unfair to shipping companies that do not operate in international waters

All of the above

The principle that only domestic ships can operate in a country's coastal waters

The principle that only foreign ships can operate in a country's coastal waters

The principle that both domestic and foreign ships can operate in a country's coastal waters

The principle that no ships can operate in a country's coastal waters

To protect the domestic shipping industry

To encourage the development of the domestic shipping industry

To raise revenue for the government

To protect the environment

Ships in distress

Ships carrying government cargo

Ships carrying passengers or cargo between two points in the same country

All of the above

A ship is larger than a boat

A ship is used for commercial purposes, while a boat is used for recreational purposes

A ship is capable of carrying cargo, while a boat is not

All of the above

A port is a place where ships can load and unload cargo, while a harbor is a place where ships can shelter from the weather

A port is a place where ships can load and unload passengers, while a harbor is a place where ships can shelter from the weather

A port is a place where ships can be built and repaired, while a harbor is a place where ships can shelter from the weather

A port is a place where ships can be registered, while a harbor is a place where ships can shelter from the weather

A charterparty is a contract between the shipowner and the charterer, while a bill of lading is a contract between the shipowner and the shipper

A charterparty is a contract between the charterer and the shipper, while a bill of lading is a contract between the shipowner and the consignee

A charterparty is a contract between the shipowner and the consignee, while a bill of lading is a contract between the charterer and the shipper

A charterparty is a contract between the shipowner and the shipper, while a bill of lading is a contract between the charterer and the consignee

A marine insurance policy covers the ship and its cargo, while a cargo insurance policy covers only the cargo

A marine insurance policy covers the ship and its crew, while a cargo insurance policy covers only the cargo

A marine insurance policy covers the ship and its passengers, while a cargo insurance policy covers only the cargo

A marine insurance policy covers the ship and its machinery, while a cargo insurance policy covers only the cargo

A general average is a loss that is shared by all of the parties involved in a maritime venture, while a particular average is a loss that is borne by the individual party that suffers the loss

A general average is a loss that is shared by the shipowner and the cargo owner, while a particular average is a loss that is borne by the individual party that suffers the loss

A general average is a loss that is shared by the shipowner and the charterer, while a particular average is a loss that is borne by the individual party that suffers the loss

A general average is a loss that is shared by the shipowner and the crew, while a particular average is a loss that is borne by the individual party that suffers the loss