- 1. Documentary credit means payment against____ instead of against______. (D)
! ]- B0 A9 ?: |; n( I A. goods……documents+ c. p# r2 F4 u* w5 @
B. acceptance……confirmation
. x1 u" s% s3 {) \3 B C. documents……acceptance
E) r( h2 Y: U0 r4 |9 ~& b D. documents……goods
3 B1 J$ k5 p, M3 A# z 2. Detailed provisions dealing with the operation of documentary credit can be found in_____. (B)* x9 d7 |( @( b: v
A. ICC
" j. A4 z' i, ~! [7 Y( G B.UCP; L( |# j0 U4 E! L+ K- L" g
C. INCOTERMS* k% [* Z; j# X; p8 }7 s
D. CMR convention: m" L* t" ~' g( ^ A. J- X0 v
3. In a revocable credit, it is the____ who has the right to revoke the credit. (A)
$ S+ |1 w1 z3 |% C A. buyer0 E) `! U# i/ j6 G9 x
B. seller
+ @3 o8 w4 E, {$ Z9 B C. advising bank: |# {# \* K! r8 E0 D
D. issuing bank
, E3 G9 S0 ?) J6 A$ h 4. The____ bank should ensure that the seller‘s documents are drawn up in accordance with the credit terms before such documents are paid for and forwards to the____ bank for final reimbursement. (C)
7 ^7 |, s# r6 v. d! c) ]- x; m A. issuing……negotiating: ?4 X( J! h6 [6 ~
B. advising……paying* l* H0 G9 Y$ H n/ W& l) A$ Q, p
C. negotiating……issuing
+ q6 \( T6 C6 b/ J5 h0 ~& n D. paying……advising: c& ]6 p a1 H+ p) z% u7 E
5. The banks on the buyer‘s side on L/C arrangement are____. (AD) ~6 d5 L' c+ C ^( u5 o
A. issuing bank, Z8 M6 ]8 h/ a
B. advising bank' g3 K- m( _. `$ F
C. negotiating bank5 E6 d8 Y8 x9 B3 U. {9 Z$ X6 w
D. paying bank |