《进出口企业结算》word版.doc

填空一、2. Settlement on commercial credit usually includes payment in advance, open account, remittance and collection.3. Settlements on bank credit include letter of credit and bank guarantee.6. Payment in advance is most advantageous to the seller.7. Open account is least advantageous to the seller.8. Collection can be divided into documentary collection and clean collection.二4. Nostro account means our account.5. Vostro account means your account.6. To Bank of China, a RMB account held by Bank of England is called vostro account.7. If a British bank has an account in Paris with a French bank, it will refer to that account as nostro account.8. Control documents are lists of specimen of authorized signatures, telegraphic test keys, terms and conditions and SWIFT authentic key.三、1. If the paying bank maintains the remitting banks account, the reimbursement may be effected by .四、9.If the paying bank maintains the remitting banks account, the reimbursement may be effected by “Please debit the sum to our account with you /You are authorized to debit the sum to our account with you.”五、1. If the collecting bank is not located near the importer, it would send the documents to a presenting bank in the importers city.2. In a documentary collection, the bank acting as the exporters agent, regulates the timing and sequence of the exchange of goods for value by holding the title documents until the importer either pays the draft or accepts the obligation to do so.4.Under documents against acceptance, after acceptance, the buyer gains possession of the goods before the payment is made and is able to dispose of the goods as he wishes.3. Inward collection is a banking business in which a bank acting as the collecting bank receives the draft with or without shipping documents attached as well as the instruction from a bank abroad and endeavors to collect the payment or obtain the acceptance from the importer.4. Collection bill purchased involves great risks for remitting bank, so they are seldom willing to do so.5. Under documents against payment at sight the seller issues a draft. The collecting bank presents the draft to the buyer. When the buyer sees it he must pay the money at once, then he can get the shipping documents.6. The remitting bank sends documents, draft, and collection order to the collecting/presenting bank in the importers country that notifies the importer.7. Under documents against acceptance, after acceptance, the buyer gains possession of the goods before payments .8. The collecting bank authorizing the release of title document on trust receipt must realize that this financing requires a great degree of confidence in the reputation, honesty, and integrity of the customer acting as trustee.六、七、1.When the beneficiary presents the documents to his bank, he must follow the “3C principle” in his documentation, the “3C” represents completeness, correctness, consistency .2.If a letter of credit is issued by airmail, it ought to be authenticated by authorized signature and when issued by cable/telex it is authenticated by test key.3.The documents of the credit must be complied with the terms and conditions of the letter of credit on the one hand and they must be consistence with each other on the other hand.八、选择一、1.To the exporter, the fastest and safest method of settlement is .A.Letter of credit B.cash in advanceC.open accountD.bankers draft2.To the importer, the fastest and safest method of settlement is .A.Letter of credit B.cash in advanceC.open accountD.collection3.Under a letter of credit, the exporter can receive the payment only when .A.he has shipped the goodsB.he has presented the documentsC.the documents presented comply with the credit termsD.the importer has taken delivery of the goods4.Settlement by documentary credit is fair to .A.the banks involvedB.the trading companies concernedC.the shipping companyD.all of the above5.An additional risk borne by the seller when granting a credit to the buyer is that the latter will not .A.accept the billB.take up the documentsC.take delivery of the goodsD.make payment at maturity6. is a compromised method between open account and cash in advance.A.letter of guaranteeB.remittanceC.treasury billD.documentary collection7.Which of the following is based on commercial credit? A.Letter of creditB.Bank letter of guaranteeC.CollectionD.Insurance policy8.In credit transactions, the goods and the documents are sent to the importer .A.In different waysB.In different directionsC.In the same wayD.At one time9.In documentary collection, after the goods have been shipped, the exporter presents the documents to .A.The collecting bankB.The reimbursing bankC.The remitting bankD.The opening bank10.The instructions for collection are mainly .A.Those given in the contractB.Written on the bill of exchangeC.Given by the importerD.Given by the exporter二、1.From the point of view of a Chinese bank, is our banks account in the books of an overseas bank, denominated in foreign currency.A.A vostro account B.A nostro accountC.A mirror accountD.A record account2.There are four main methods of securing payment in international trade: payment under documentary credit, open account, collection, and payment in advance. From an exporters point of view, the order of preference is . A., , , B., , , C., , , D., , , 3.The collection provides the seller with a greater degree of protection than shipping on .A.Documentary creditB.Bankers letter of guaranteeC.Bankers draftD.Open account4. Foreign trade can be conducted on the following terms except for .A.Open accountB.Documentary collectionC.Documentary creditD.public bonds5. If Bank of China instructs Bank of America to pay a sum of USD 1,000,000.00 to Midland, its nostro account will be .A.CreditedB.DebitedC.IncreasedD.Decreased三、1.The person paying the money is a of a check.A.PayeeB.EndorserC.DraweeD.endorsee2.A check is valid for months from the date of issue, unless a shorter period is written on the face of it.A.SixB.NineC.ThreeD.one3.If a check dated 1st Feb., 2008 was present on the 5th Nov., 2007, it would be .A.Pre-datedB.Out of dateC.Post datedD.undated4.If a check dated 1st Feb., 2008 was present on the 5th Oct., 2008, it would be .A.Pre-datedB.Out of dateC.Post datedD.undated5.The effect of a blank endorsement is to make the check payable to the .A.Order of a specified personB.Specified personC.bearerD.Named person6.Banks usually ask for endorsement when checks in favor of payees are credited to a account.A.Joint jointB.Joint soleC.Sole jointD.Sole solo7.Payee James Smith endorsed “ James Smith pay to L. Green”, this is a endorsementA.SpecialB.BlankC.GeneralD.restrictive8.If a bill is payable “60 days after date”, the date of payment is decided according to .A.The date of acceptanceB.The date of presentationC.The date of the billD.The date of maturity9.A carries comparatively little risks and can be discounted at the finest rate of interest.A.Sight B.Bank draftC.Commercial billD.Trade bill10.A term bill may be accepted by the .A.DrawerB.DraweeC.HolderD.Payee11.The party to whom the bill is addressed is called the A.DrawerB.DraweeC.HolderD.Payee12.When financing is without recourse, this means that the bank has no recourse to the if such draft are dishonored.A.PayerB.DraweeC.PayeeD.Drawer 13.A promissory note is “inchoate” until it has been deliver to the .A.Payer or bearerB.Payee or draweeC.Payee or bearerD.Holder or drawer14.The of a promissory note has prime liability while the other parties have secondary liability.A.HolderB.DraweeC.MakerD.Acceptor15.An acceptance with the wording “payable on delivery of bill of lading” is .A.A general acceptanceB.Qualified acceptanceC.Non acceptanceD.Partial acceptance16. Must be accepted by the drawee before payment.A.A sight billB.A bill payable xx days after sightC.A promissory noteD.A bill payable xx days after date17.A (n) is a financial document.A.Bill of exchangeB.Bill of ladingC.Insurance policyD.Commercial invoice18.In order to retain the liabilities of other parities, a bill that has been dishonored must be .A.ProtestedB.Given to the acceptorC.Retained in the filesD.Presented to the advising bank19.“A check payable to ABC company is credited to the personal account of Mr. Li”, the bank .A.Is correct in crediting the accountB.Is merely doing what is requested by its customerC.Has committed an act of negligenceD.Will make a claim on its principal四、1、A payment order, mail advice or credit advice/please debit advice is an authenticated order in writing addressed by one bank to another instructing the latter to pay a sumcertain in money to a specified person or a _named thereon.A. bank B. beneficiary C. remitter D. acceptor2. T和only means of authenticating a cable transfer is the _.A. SWIFT authentic key B. payment order C. test key D. authorized signatures.3._is often used when the client wants to transfer the funds to his beneficiary himself.A. Demand draft B.Mail transferC.Telegraphic transfer D.Remittance by SWIFT.4. If the paying bank opens a current account with the remitting bank, the reimbursement may be effected by _ .A. instructing the paying bank to claim reimbursement from another branch of the same bank or another bank with which the remitting bank opens an accountB. debiting remitting banks nostro accountC. instructing areimbursing bank to pay the paying bank by debiting the remitting banks nostro accountD. crediting vostro account of the paying bank 5. If a London bank makes a payment to a correspondent abroad , _ .A. it will remit the sum abroad B.the foreign banks vostro account will be credited C.the London banks nostro account will be creditedD. either A or B.6. If Barclay Bank instructs Citibank to pay a sum of USD2,000,000 to Midland ,its nostro account should be _ .A. credited B. debited C.increased7 .The various methods of settlement all involve the same book keeping .The only difference is _.A. the method by which the overseas bank is advised about the transfer.B. The method by which the beneficiary is advised about the transfer.C. The speedD. The beneficiary8. Suppose that a UK firm which is to pay a debt to a West German supplier in Deutschmarks. The firm will give a written instruction to its bank in the UK to issue a mail transfer. Then the UK bank _ .A. debit the UK firms account as authorized B. credit the UK firms account as authorized C. debit the account of .the West German bankD.credit the West German suppliers account五、1.The principal is generally the customer of a bank who prepares documentation and submits them to the bank with an instruction to get payment from the buyer (drawee).A.RemittingB.CollectingC.PresentingD.Correspondent2.Which type of collection offers the greatest security to the exporter?A.Documents against acceptanceB.Documents against paymentC.Clean collectionD.Acceptance D/P3. is an arrangement whereby the seller obtains his banks pre-numbered direct collection letter, thus enabling him to send his documents directly to his banks correspondent bank for collection.A.Clean collectionB.Documents against paymentC.Direct collectionD.Documents against acceptance4.Which of the following is not the obligation of the trustee?A.To arrange for the goods to be warehoused and insured in the trustees nameB.To pay all the proceeds of sale to the bank or to hold them on behalf of the bankC.Not to put the goods in pledge to other personD.To settle claims of the bank prior to liquidation in case of the trustees bankruptcy5.Which of the following is not a risk that the exporter assumes on documentary collection?A.Non-acceptance of merchandiseB.Harm to the reputation due to dishonorC.Exchange restrictionsD.Non-payment of trade acceptance6. is the bank to which the principle has entrusted the collection.A.The remitting bankB.The collecting bankC.The presenting bankD.Both A and B7. has the right of first choice in selecting a collecting bank.A.The presenting bankB.The draweeC.The remitting bankD.The principle8.Any expenses incurred by a bank in connection with protesting a bill will be charged to .A.The principalB.The remitting bankC.The collecting bankD.The drawee9.The commission charged by a third bank involved in the collection should be paid by .A.The exporterB.The importerC.The correspondent bankD.The remitting bank10.The importance of distinction between financial documents and commercial documents lies in that it helps decide whether it is .A.Inward collection or outward collectionB.Bill collection or goods collectionC.Cash collection or check collectionD.Clean collection or documentary collection六、1.A letter of credit is .A.A formal guarantee of paymentB.A conditional undertaking to make paymentC.An unconditional undertaking to make paymentD.A two bank guarantee of payment2.With an unconfirmed irrevocable letter of credit, .A.The terms and conditions can be amended or cancelled unilaterally by any partyB.Only the exporter can amend the creditC.The advising bank transmits details without commitment to the beneficiaryD.The issuing bank has the ability to cancel the credit at any time3.A confirmed irrevocable letter of credit .A.Carries the confirmation of the issuing bankB.Always involves at least two banksC.Is issued by the advising bankD.Creates the highest level of security against sovereign risk4.Confirmation of a credit may be given by .A.The beneficiary at the request of the importerB.The advising bank at the request of the issuing bankC.The advising bank after the receipt of correct documentationD.The issuing bank after the receipt of correct documentation5.In any dispute over the terms and conditions of a credit, which interpretation will prevail?A.Uniform customs and practiceB.IncotermsC.Statute lawD.International law6.A stand-by letter of credit .A.Is never revokedB.Is not a letter of creditC.Is invoked in the event of non-compliance by buyer or seller with the terms of an original creditD.Is invoked in the event of non-compliance by the buyer or seller with the terms of the sales contract7.The beneficiary of a transferred credit is .A.The paying/accepting/negotiating bankB.The shipperC.The middlemanD.The actual supplier8.The sum of the transferred credit will not be .A.The same as in the credit before transferB.Less than in the credit before transferC.More than in the credit before transferD.Equal to the original credit9.Which of the following details on the transferred credit may not be different to that of the credit before transfer?A.The shipping dateB.The expiry date of the creditC.The description of the goodsD.The name of the applicant10.A back-to-back credit exposes the bank issuing the second credit to risk because .A.The beneficiary under the second credit may not ship goodsB.The documents presented under the second credit may not exactly conform to the terms of the first creditC.The bank has already paid the beneficiary under the second credit before it receives documentation from the beneficiary under the first creditD.The bank has already paid the beneficiary of the first credit before it receives documentation from the beneficiary under the first credit11.Under the red clause credit, on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary?A.The issuing bankB.The advising bankC.The beneficiaryD.The applicant12.An applicant must reimburse an issuing bank unless he finds that .A.Goods are defectiveB.Goods are not as ordered in the sales contractC.Documents received do not allow him to clear the goods through customsD.Documents do not conform on the face to the terms and conditions of the credit13.A revocable credit cannot be amended or cancelled only after .A.The documents under it have been honoredB.It has been amended onceC.The advising bank has notified the beneficiary of its openingD.It has been confirmed by a correspondent bank14.According to the beneficiarys instructions, a transferable credit may be made available to .A.One partyB.Two partiesC.More partiesD.Any of the above15.A bank is obligated to transfer the credit only after .A.Being instructedB.Being instructed as well as paidC.Receiving the creditD.The credit is confirmed16.Under ,the obligation of the issuing bank is extended only to the beneficiary in honoring drafts /documents and usually expir