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8 CAN the name of the applicant be changed in a LC after it has been issued?A YesB NoANSWER: A10 A BL must always show a voy number?A TB FANSWER: B2.A L/C calls for a bill of exchange showing date 60 days after of shipment.if the shipment date is 01-01-2008,which one of the following is the maturity date of the draft?A 28TH FEB 2008B 1ST MAR 2008C 2ND MAR 2008D 3RD MAR 2008ANSWER : B3. WHICH OF THE FOLLOWING THE CORRECT EXPRESSION FOR THE FIRST ANDSECOND HALF OF THE FEBRUARY ?A.01-02-2008 TO14-02-2008& 15-02-2008 TO 28-02-2008B.01-02-2008 TO 15-02-2008& 16-02-2008 TO 28-02-2008C.01-02-2008 TO 15-02-2008 & 16-02-2008 TO 29-02-2008D.NONE5 Which of the following article speaks about the issuance of LC for covering service oor performance?A article5B article 18CC Both 5 and 18cD UCP is silent on this issueANSWER :C8. If a nominated bank refuse to honor or negotiate a presentation, that bank is no more a nominated bankA. TRUEB.FALSEC.Nominated bank must negotiateD.NoneANSWER :B9.Select the most appropriate statementA The issuing bank must use an advising bankB The issuing bank may usa an advising bankC Single window credit is not acceptableD noneANSWER : B10.Which of the following is nessary to amend a LCA.A agreement among the issuing bank,confirming bank and beneficiaryB.A agreement among the issuing bank,reimbursing bank and beneficiaryC.A agreement among the issuing bank,applicant and beneficiaryD.A agreement among the issuing bank,advising bank and beneficiaryANSWER : A1. A confirming bank advised an amendment but remained silent about the confirmation status on that particular amendment,what can be inferred from such action of the confirming bankA the amendment is confirmed B the amendment is not confirmedC the amendent confirmation is revocableD noneANSWER : A4.A preadvice credit is an irrevocable undertaking.A to be irrevocable, operative credit must be issuedB trueC falseD preadvise is not acceptable in UCPANSWER : B5.If a bank does not honor a presentation but purchase a deffered payment undertaking from the issuing bank,will the nominated bank protected under UCP 600?A the nominated bank is protect under UCPB the nominated bank is not protect under UCP.ANSWER: B6.As per article 13 of UCP 600,a nominated bank can be also be termed as-A a advising bankB a transferring bankC an issuing bankD a claiming bankANSWER: D3 We issued the L/C as follows: L/C expired: Dec 27, 2005 at beneficiarys countryLatest shipment date: Dec 06, 2005Period of presentation: documents to be presented within 21 days after date of shipment but within the validity of credit, state documents acceptable.Which of the following is acceptable?A.B/L on board date: Dec 01, 2005, all documents presented on Dec 25, 2005B.B/L on board date: Dec 01, 2005, all documents presented on Dec 31, 2005C
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