国际结算练习三

国际结算练习题三

PracticesforInternationalsettlement

Choosethetrueanswerofthefollowingsentences.

(1)AcreditisissuedbyBankofChina,TianjinandconfirmedbyBankofChina,London.Itconstitutesthepaymentundertakingof()

(A)onebankonly(B)abovetwobanks

(2)Acreditcontainsthetermsasfollows:

“Theamountshallrenewedaftereachnegotiationonlyuponreceiptofissuingbank’snoticestatingthatthecreditmightberenewed”

thecreditis()restorationtorevolve.

automatic(B)non-automatic(C)semiautomatic

(3)Whenacreditisissuedbyfullcableinfulldetails,suchcableadvice()anoperativecredit.

(A)is(B)isnot

(4)SupposeanL/Csaysoneshipmentof“100,000yardsofwire”.WhichquantitiesfailtocomplywiththeL/C.()

(A)94,000yardsofwire(B)100,000yardsofwire

(C)97,000yardsofwire(D)106,000yardsofwire

(5)Ifthecreditrequiresinsurancepolicy,thepresentationofaninsurancecertificate.Itis()

permissible(B)notpermissible

(6)AnL/CstatesanamountofamountofaboutUSD1,450.00andpartialshipmentarenotallowed.Whichofthefollowingdrawingarenotacceptable?()

(A)USD1,590.00(B)USD1,310.00

(C)USD1,596.00(D)USD1,304.00

(7)Aletterofcreditis

(A)aformalguaranteeofpayment(B)aconditionalundertakingtomakepayment

(C)anunconditionalundertakingtomakepayment

(D)atwobankguaranteeofpayment

(8)Withanunconfirmedirrevocableletterofcredit,

(A)thetermsandconditionscanbeamendedorcancelledunilaterallybyanyparty

(B)onlytheexportercanamendthecredit.

(C)theadvisingbanktransmitsdetailswithoutcommitmenttothebeneficiary.

(D)theissuingbankhastheabilitytocancelthecreditatanytime.

(9)Aconfirmedirrevocableletterofcredit

(A)carriestheconfirmationoftheissuingbank

(B)theadvisingbankattherequestoftheissuingbank.

(C)theadvisingbankafterthereceiptofcorrectdocumentation.

(D)theissuingbankafterthereceiptofcorrectdocumentation.

(10)Inanydisputeoverthetermsandconditionsofthecredit,whichinterpretationwillprevail?

(A)UniformCustomsandPractice(B)Incoterms

©Statutelaw(D)Internationallaw

(12)Astand-byletterofcredit

(A)isneverrevoked(B)isnotaletterofcredit

(C)isinvokedintheeventofnon-compliancebybuyerorsellerwiththetermsofanoriginal

(D)isinvokedintheeventofnon-compliancebybuyerorsellerwiththetermsofthesalescontract.

(13)Thebeneficiaryofatraditionalcreditis

(A)thepaying/accepting/negotiatingbank

(B)theshipper(C)themiddleman

(D)theproducer

(14)Thesumofthetransferredcreditwillnotbe.

(A)thesameasinthecreditbeforetransfer

(B)lessthaninthecreditbeforetransfer.

(C)morethaninthecreditbeforetransfer

(D)equaltotheoriginalcredit

(15)Whichofthefollowingdetailsonthetransferredcreditmaynotbedifferenttothatofthecreditbeforetransfer?

(A)Theshippingdate

(B)Theexpirydateofthecredit.

(C)Thedescriptionofthegoods

(D)Thenameoftheapplicant

(16)Aback-to-backcreditexposesthebankissuingthesecondcredittoriskbecause

(A)thebeneficiaryunderthesecondcreditmaynotshipgoods

(B)thedocumentspresentedunderthesecondcreditmaynotexactlyconformtothetermsofthefirstcredit.

(C)thebankhasalreadypaidthebeneficiaryunderthesecondcreditbeforeitreceivesdocumentationfromthebeneficiaryunderthefirstcredit

(D)thebankhasalreadypaidthebeneficiaryofthefirstcreditbeforeitreceivesdocumentationfromthebeneficiaryunderthefirstcredit.

(17)Undertheredclausecredit,onwhichpartydoesthefinalresponsibilitylieforreimbursementifthetermsandconditionsarenotfulfilledbythebeneficiary?

(A)theissuingbank(B)theadvisingbank

(C)thebeneficiary(D)theapplicant

(18)Anapplicantmustreimburseanissuingbankunlesshefindsthat

(A).goodsaredefective(B)Theadvisingbank

(C)documentsreceiveddonotallowhimtoclearthegoodsthroughcustoms.

(D)documentsdonotconformonthefacetothetermsandconditionsofthecredit

(19)Anapplicantmustreimburseanissuingbankunlesshefindsthat

(A)goodsaredefective(B)goodsarenotasorderedinthesalescontract

(C)documentsreceiveddonotallowhimtoclear