hnd,国际金融考试答案

Financing International Trade,Course outline: 1. Trade and international trade 2. Techniques that guard against the possibility of exchange risk in export and import transactions 3. Main methods of payment used by exporters and importers 4. Main financial services available from banks to assist exporters and importers 5. Main non-financial services available from banks to assist exporters and importers,Conditions of assessmentThis assessment will take the form of restricted responses to five questions based on a case study. The case study should be provided to candidates 7-10 days prior to the assessment date.The questions will be unseen. Candidates will be permitted to bring their own handwritten or typewritten notes to the assessment.,What a forward exchange contract is.How a forward exchange contract differs from a forward option contract.what is meant by: a. FOB b. CIF c. DAF Explain the main services provided to exporters by ECGD (the Exports Credits Guarantee Department).,the process of international licensing and how your bank can assist in setting up such an arrangement.,Trade and International Trade,Single European Market,Balance of Payment,Techniques Guarding against the Exchange Risks in Export and Import Transactions,Operation of the foreign exchange (FOREX) markets,SpotForwardArbitragePremium and discountInterest rates and inflationInterest rate parityCurrency futuresUsers of futures marketsSpeculationHedgingVariation margin payments,Factors that influence spot markets,Spot rates and exchange risk,Calculating exchange contracts,Forward exchange rate and forward contracts,Futures and forward exchange contracts,Close outsExtensionsForeign currency options- terms used- OTC- foreign currency invoicing,Exchange rate regimes,Clean floatingPurchasing power parityAdjustable pegManaged floatingEMS, ERM, and the Euro,Factors influencing forward markets,Foreign currency exposure: transaction; translation; economic,Methods of controlling exposure,Internal techniques to hedge transaction exposure- matching- multilateral netting- leads and lags- composite currencies,Transaction exposure- use of foreign currency borrowingMatching 50/50Currency swaps,Economic exposure: types,Bank operations in settlement of trade,Methods of settlement through banks- Nostro and vostro accounts- Booking keeping involved in transfers- SWIFT, TT, MT, Bank draft,Main Method of Payment Used by Exporters and Importers,Transport documentation used in international trade,Bills of Lading - functions- types; waybills; commercial invoice- insurance documentation,Operation and use of Incoterms,Open accounts terms- risks to exporters buyer riskCountry riskTransit risksCredit insuranceECGD supplier insurer policyOther facilities,Differences between the various terms of payment used in international trade,Identifying and reasoning the most appropriate terms of payment,Procedures involved in documentary collections,Bills of exchange; sight draft; term draftOperation of documentary collections Uniform rules for collections- position of remitting bank- risks to exporters,Shipping documents,Procedures involved in documentary credits,DefinitionPartiesOperationTypesUniform customs and practice for documentary creditsAdvice and problem of use,Assistance to exportersInward documentary collections- rules of handling- bills of exchange acceptance and dishonour- protestAvalisationBank indemnities,Documentary creditsRisks of banks Methods of reducing riskDetails contained in Documentary Credit applicationsLetters of creditBack to back credits,Main Financial Services Available from Banks to Assist Exporters and Importers,Features of services that provide short term finance to exporters,The most appropriate form of short term finance in given situation,Differences between with recourse and without recourse finance,The role of banks and ECGD in providing medium or long term finance,Features and benefits of forfeiting,Benefits of hire purchase or leasing for exporters,Main Non-financial Services Available from Banks to Assist Exporters and Importers,Advantages and disadvantages of various travel facilities available to exporters,No