2012FCI保理中级考试网络测试题，我第一次边做边截屏了，现在贴出来大家都来做做看吧。
正确答案不知道的，大家探讨探讨：1. Which of the following are advantages of factoring finance?(more than one correct option)a. The seller can improve his credit standing with his suppliersb. It reduces borrowing costsc. Finance availability is geared to the growth of the seller’s salesd. The seller will not lose control of the company as a result of obtaining additional capital from outside sharesholders2. Which of the following statements is correct?i) The EF (and the seller) is not obliged to offer the IF all buyers in the IF’s country for credit cover.ii) If the IF granted a credit cover on a buyer, all A/R – existing and future – of that buyer must be assigned to the IF, unless the amount exceeds the credit cover.iii) If the IF cancels a line cover, the EF must continue to assign A/R of that buyer until all approved outstanding A/R are paid.Choose on answer:a. (i) and (ii) are true.b. (ii) and (iii) are true.c. (i) and (iii) are true.d. All are true3. Invoice 4231 for EUR6,000 was due for payment on 1 March. On 25 April the IF learns that the buyer is bankrupt. On 20 May the government prohibits the transfer of payments abroad. This prohibition is lifted at 23.59 hrs. on 30 Sep. How much must the IF pay to the EF?(LIBOR=5%, lowest EF borrowing rate=6%, 1 month=30 days and 1 year = 360days)Choose one answer:a. EUR 6,210b. EUR 6,100c. EUR 6,120d. EUR 6,0004. Single Factoring is considered as disadvantageous for the IF in many ways. Why is this?(more than one correct option) Choose at least one answer:a. Late payment info. For the IFb. The IF does not keep his own ledger and must rely on the info. The EF providesc. The IF needs very experienced EF for close cooperationd. The buyer is not notified of the IF’s involvement5. Which of the following do NOT apply to ORDER COVER?(more than one correct option) Choose at least one answer:a. It is revolving until expiry dateb. It allows better control of riskc. It must be completed within a specified timed. It applies to one invoice only6. The Executive Committee of FCI consists of ten members. Who may not serve on the FCI Executive Committee: (more than one correct option) Choose at least one answer:a. More than two officers from associate membersb. More than two officers of members related to each otherc. More than two officers of members wich are also members of a competing factoring groupd. More than two officers of members located in the same country7. Which of the following options are correct for the Centralised Reporting System? (more than one correct option) Choose at least one answer:a. Some of the CRS reports are bindingb. messagesc. CRS includes annual accounts of EF’s and IF’sd. The A/R is the most important report in the CRS8. Which of the following payment are indirect but valid payments according to the GRIF?(more than one correct option) Choose at least one answer:a. If the buyer pays the seller’s agentb. If the buyer pays the seller’s insolvent estatec. If the buyer pays the IFd. If the buyer pays the EF9. Which of the following statements is correct?i) Main purpose of RESCUE is to assist FCI members doing two-factor exporting factoring to collect all accounts receivables.ii) The Interfactor Agreement and the GRIF do not apply to export factoring with D/A terms.Choose on answer:a. (i) is correct.b. Both statements are correct.c. (ii) is correct.d. Neither statement is correct.10. Regarding the use of , which of the following should be part of yr internal security arrangements?(more than one correct option) Choose at least one answer:a. Establish internal control procedures for the sue of b. Authorise individual users to access only selective functions relating to their job.c. Set up user accounts for all staff in yr companyd. Appoint a system administrator who is fully familiar with all system fuctions and internet usage.11. When on the 1 Jan. the IF canceled the line cover of EUR15,000, he had 4 invoices outstanding on his books for this buyer (in date order) A for EUR 10,000, B for EUR 4,000, C for EUR2,000 and D for EUR 3,000. During January the IF received one more invoice E forEUR 4,500 and a credit note for EUR 4,000 in respect of invoice B for damaged goods. What is the IF’s risk position at the end of January?Choose one answer:a. EUR 19,500b. None of the abovec. EUR 11,000d. EUR 15,00012. Which of the following sales transactions fll in the scope of the GRIF?(more than one correct option) Choose at least one answer:a. Deferred payment L/Cb. Stand by L/Cc. D/P salesd. Documents against acceptance (D/A) sales.13. The IF has approved EUR 300,000 as part of EUR 400,000 outstanding invoices on a buyer. The buyer went bankrupt and the IF canceled the credit line with immediate effect. As a result of his legal enforcement, the IF received EUR 300,000 from the liquidator’s desk before the PUG is due. The amount to be transferred to the EF by the IF at this moment (disregard the PUG will be made later on)?a. EUR 75,000b. EUR 100,000c. NOTHINGd. EUR 50,00014. A seller has annual sales of EUR 300,000 to buyer A. payment terms are 60 days nett after invoice date. There is no seasonality to their sales. What credit cover amt should the EF apply to the IF for ?a. EUR 75,000b. EUR 60,000c. EUR 100,000d. EUR 50,00015. According to the GRIF which of the following statements is correct?i) The IF may decide on his own to give the credit cover under specific conditions which deviate form the provisions of the GRIF, in such case EF’s consent is not obligatory.ii) The IF may require special documentation to verify his risk position and he is entitled to ask the EF for the following documents as proof, such as evidence of shipment, an exact copy of the invoice, evidence that the contract of sale or service has been fulfilled.a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.16. As the factor’s main security is the assigned A/R, one of our key considerations for accepting new business is whether the seller has a ‘factorable’ pro duct or service. Which of the following is ‘factorable’?Choose one answer:a. Sale of air conditioners where the contract requires satisfactory installation.b. Completion of a swimming pool construction project which must first be certified by surveyor.c. Sale of canned food to supermarkets on consignment basisd. Sale of socks to department stores17. Which of the following statements is correct?i) Breaches of warranty can affect the IF’s obligation to pay because they may prejudice the IF’s credit risk assessment and/or his ability to collect from the buye rsiii) IF is not obliged to prove that the EF and/or the seller have substantially breached the GRIFfor not paying under guarantee. IF’s verbal or written declaration for the EF’s and/or the seller’s breach is enough f or stopping the guarantee payment.a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.18. Once an EF has assigned an A/R by , in order to facilitate the subsequent collection of A/R, the IF has the right to request the EF to provide which of the following documents?(more than one correct option) Choose at least one answer:a. Exact copy of the original invoiceb. The export factoring agreementc. Proof of deliveryd. Proof of shipment19. What criteria should the EF take into account when selecting suitable IF correspondents?(more than one correct option) Choose at least one answer:a. Financial strength to meet obligationsb. Effective collection proceduresc. Ability to prevent or minimise problems and risksd. Ability to access a buyer’s credit worthiness quickly and accurately20. A seller extends credit terms of 60days nett after invoice date to a buyer. The IF approves a credit cover on the buyer on such terms. What occasional variation can be allowed such that the credit cover continues to be valid?Choose one answer:a. 45 dyasb. 60 daysc. No variation allowedd. 30 days21. When are messages considered to have been delivered?Choose one answer:a. When delivered to the receiver’s mailboxb. One business day after being sentc. When the receiver has received them into his systemd. As soon as sent by the sender22. The buyer’s payment terms as stated in message 5 are 60 days nett and in message 6 the IF approved as longest credit period 90 days from date of invoice. The seller does a special deal with this buyer and on this occasion also changes the payment terms. Which of the following terms would still be credit covered by the IF?(more than one correct option) Choose at least one answer:a. 105 days nett from date of invb. 90 days nett from date of invc. 75 days nett from date of invd. 30 days nett from date of inv23. The following statements relate to ‘sample invoice’. Which statement are correct?i) Sample invoices are automatically exc luded from credit cover by the IF unless agreed by the EF and IF.ii) Sample invoices must be included in the seller’s turnover assigned to the IF, otherwise buyers may be confused in distinguishing to whom they should pay different types of invoiceiii) The EF & IF should agree which invoices are regarded as sample invoices and the way to handle them.Choose on answer:a. (i) and (ii) are true.b. (ii) and (iii) are true.c. (i) and (iii) are true.d. All are true24. Which of the following features for buyer credit cover are applicable only to either factoring or credit insurance but not to both?(more than one correct option) Choose at least one answer:a. Maximum payment terms.b. Assignment of A/Rc. Limit of annual total liabilityd. Deductible25. In what way does Maturity Factoring differ from Full Service Factoring?Choose on answer:a. There is no credit coverb. Finance is provided only for a specific periodc. There’s no financingd. There is no collection26. Under a recourse factoring agreement, which of the following main functions of factoring is not provided by the factor?Choose on answer:a. Financeb. Credit coverc. Collectiond. A/R ledger administration27. When an EF notifies an IF of the termination of a seller’s factoring agreement, the IF will cancel all credit covers on buyers relating to that seller. What is the status of the credit covers? Choose on answer:a. The credit covers will remain valid for shipments made before the date of termination provided that the A/R are assigned to the IF within 60 days of the date.b. The credit covers will remain valid for shipments made before the date of termination.c. The credit covers will remain valid for shipments made before the date of termination provided that the A/R are assigned to the IF within 30 days of the date.d. Any A/R not yet assigned will not be credit covered.28. Which of the following statements is correct?i) The IF has no responsibility for collecting unapproved outstanding invoices in his ledger ii) The IF is not liable to pay under guarantee if the buyer fails to pay an approved invoice due to country risk.Choose on answer:a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.29. In his factoring agreement with a seller the EF ahs a condition that the seller must bear the first EUR 2,000 of each bad debt. In the first year there are three bad debts of EUR7,000, EUR10,000 and EUR1,500. All three have line covers of EUR7,500 and are undisputed. Calculate the IF’s losses for that year.a. EUR 17,000b. EUR18,500c. EUR10,500d. EUR14,50030. There is a public holiday of 4,5 days in EF’s country, starting from Monday 2 February at 13:00 hrs. offices are closed until next Monday. The IF is located in the same time zone as the EF. On 2nd Feb. at 15:00 hrs the IF sends a message 8 canceling the line cover. He also calls the EF’s office, but nobody answers. He sends a fax to the EF as well. Due to an internal problem, the EF calls the seller on 10th Feb. first and informs the cancellation with immediate effect, but the seller says that he shipped goods to the buyer on 9th Feb. He then assigns the relative A/R to the EF. A few days later the buyer fails. Who will suffer the loss?Choose on answer:a. The sellerb. The EFc. The EF and the IF equallyd. The IF31. The rules can be amended only by which of the following?Choose on answer:a. The membership forumb. The councilc. The executive committeed. The communication committee32. Which of the following statements are correct?i) If a buyer raises a dispute 150 days after the due date of the invoice and after a payment under guarantee (PUG) has been made by the IF to the EF, the IF can claim back the PUG made to the EF.ii) A credit cover is not cancelled but suspended until there is an outcome to a disputeChoose on answer:a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.33. Which of the following statements is NOT correct?i) If the IF cancels the line cover, the EF shall not continue to assign A/R for that buyer until the IF is out of riskii) Once a buyer’s line cover is full the seller is allowed to make further sales to him on L/C orChoose on answer:a. Statement i) is not correct.b. Both statements are correctc. Statement ii) is not correct.d. Neither statement is correct34. Which of the following statements are correct?i) The IF is not obliged to pay under guarantee if the buyer is willing to pay but is prevented from doing so by government regulations.ii) If the IF fails to make a PUG at the proper time through a genuine error, then he must pay interest to the EF at the lowest rate the EF can borrow the money.Choose on answer:a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.35. Which of the following statements are correct?i) If two FCI members cannot settle a disagreement in an amicable way, they can either ask for FCI Arbitration or take the matter to a court of law.ii) A breach of the Business Rule (referred to as the User Guide in the rules) is a breach of the Interfactor Agreement.Choose on answer:a. Statement i) is correct.b. Both statements are correctC. Statement ii) is correct.D. Neither statement is correct.36. Which of the following do you consider, are the ways to find a good Import Factor?(more than one correct option) Choose at least one answer:a. Check the IFIS of the IFb. Ask yr parent bankc. Use the member catalogue of FCId. Ask the other FCI members37. Assume that an approved line cover is fully used for approved outstanding invoices. Which is the first o f the following unapproved invoices to ‘drop in’ under the approved line cover when the approved invoices have been paid?Choose one answer:a. Invoice dated 20th March with due date 20th April, assigned on 30th Marchb. Invoice dated 1st March with due date 30th April, assigned on 5th Marchc. Invoice dated 15th March with due date 15th May, assigned on 20th Marchd. Invoice dated 20th March with due date 25th April, assigned on 30th March38. Which of the following statements are correct in relation to Non-notification Cross Border Factoring (NNF)?i) One advantage of NNF is that the seller may receive his payments fasterii) Because the EF and IF sign a supplemental agreement to the interfactor agreement, the GRIF does not apply to NNFChoose on answer:a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.39. Which of the following statements are correct?i) Sample invoices are not necessary to be included in the seller’s turnover assigned to the IF, because they are not eligible for payment under guarantee according to the GRIF.ii) If the buyers become insolvent, the IF is expected to pay under guarantee for the total risk including sample invoices. Nevertheless payment under guarantee for ssample invoices has to be made 180 days after the due date of the respective invoice.Choose on answer:a. Statement i) is correct.b. Both statements are correctc. Statement ii) is correct.d. Neither statement is correct.40. The buyer raises a dispute on a credit covered A/R. legal action is taken against the buyer and eventually the court decides on 180th day after the original due date of the invoice that the seller is right. In accordance with the GRIF when the IF is liable to pay under guarantee? Choose on answer:a. Within 14 days after the settlement reached.b. Within 75 days after the settlement reached.c. Within 90 days after the settlement reached.d. Within 90 days of the original due date of the inv。
