GIA Diamonds and Diamond Grading Final Exam Questions and Correct Answers. Complete Verified Solution 2024.
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GIA Diamonds and Diamond Grading Final Exam Questions and Correct Answers. Complete Verified Solution 2024.
1. Retailers and jewelry manufacturers who purchase in large quantities can benefit from significant price reductions.
2. The diamond industry has undergone significant changes recently...
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GIA Diamonds and Diamond Grading Final Exam Questions and Correct Answers. Complete Verified Solution 2024.
1. Retailers and jewelry manufacturers who purchase in large quantities can benefit from significant price reductions.
2. The diamond industry has undergone significant changes recently due to the increased global
supply of rough diamonds.
3. A diamond grading system offers a consistent method to convey the quality of diamonds.
4. Diamond's exceptional hardness and durability are a result of its formation conditions.
5. Wholesale price lists typically categorize diamonds based on specific combinations of the Four Cs.
6. An appraisal is an estimation of the value of an item.
7. Reputable gemological laboratories provide the most reliable and consistent diamond grades.
8. A diamond's clarity and color grades are indicators of its quality.
9. Mining companies must allocate additional resources to evaluate and develop diamond deposits once they are discovered.
10. Larger, higher-quality diamonds undergo more rigorous grading compared to smaller, lower-
quality ones.
11. Mounted diamonds are not graded by reputable gem laboratories because mountings obscure clarity and cut details.
12. A wholesaler is an individual who sells goods to retailers.
13. Diamond prices listed on wholesale price lists are influenced by market conditions prevailing
at the time of publication.
14. Dealers often use sieves to sort melee diamonds by size.
15. The Argyle mine in Australia played a crucial role in the growth of India's cutting industry.
16. Sightholders acquire diamond rough by attending exclusive trading events by invitation.
17. Prior to the discovery of South Africa's diamond deposits, India and Brazil were the world's major diamond producers.
18. Barney Barnato was Cecil Rhodes' primary competitor in his early efforts to control diamond production.
19. The London Diamond Syndicate formed in 1890 to collectively buy and sell the output of major diamond producers, including De Beers.
20. In response to low diamond demand in the 1930s, Oppenheimer chose to close operations at De Beers mines.
21. In the diamond trade, "specials" refer to rough diamonds weighing over 10.80 carats.
22. The Central Selling Organisation served as a distribution agency for rough diamonds.
23. The South African diamond rush was sparked by the discovery of the Star of South Africa.
24. Diamond sources began appearing in South Africa during the 1860s.
25. The route diamonds take from the mine to the consumer is known as the diamond pipeline. 26. The Diamond Information Center and the Diamond Promotion Service were established to support diamond marketing efforts.
27. The yellowground is the soft, diamond-bearing material found near the surface of a diamond
field.
28. De Beers Consolidated Mines Ltd. was named after a farm where one of the earliest diamond rushes occurred.
29. Cecil Rhodes established De Beers Consolidated Mines Ltd. in 1888.
30. De Beers requires its sightholders to have a strong industry reputation and financial capability to commit to large purchases.
31. The Argyle diamond mine's significant production influenced the global market in the late 1980s.
32. Australian jewelers aggressively promoted jewelry set with their own small gems because they believed the CSO favored large stones.
33. De Beers became a privately owned company in May 2001.
34. In South Africa, the new mining charter designates the country's people as owners of its mineral resources through Black Economic Empowerment.
35. Beneficiation refers to a commitment to allocate a portion of a country's resource benefits for
its economic development.
36. One outcome of De Beers' strategic review in 1999 was renaming the CSO to the DTC.
37. Australia mines vast quantities of small, affordable diamonds suitable for mass-market jewelry.
38. A bourse is a club for buying and selling diamonds.
39. A city, region, or country with a significant number of gemstone manufacturers is referred to as a gemstone manufacturing hub.
Certainly! Here are the paraphrased versions of each statement:
1. In 2000, De Beers changed its consumer advertising by introducing the "Forevermark" logo.
2. The program ensuring diamonds do not fund civil conflict or terrorism is known as the Kimberley Process.
3. Vertical integration refers to a business or industry's involvement in all aspects of its product's
market.
4. By 2004, over 90% of diamond manufacturing for the market was based in India.
5. Supplier of Choice 2 was adopted by De Beers in 2007 to address criticisms and improve its SOC program.
6. Businesses selling directly to consumers through TV, cable, phone, or satellite are electronic retailers.
7. Most of the world's kimberlite pipes do not contain economically viable diamond quantities.
8. The right conditions for diamond formation include temperature, pressure, and the presence of carbon.
9. Diamonds are found to form in two types of rocks: peridotite and eclogite.
10. Subduction occurs when two of the Earth's crustal plates collide.
11. Diamonds exposed to high temperature and reduced pressure over time during emplacement can convert to graphite.
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