P a r t1单项选择1.Among the kinds of documentary credits subject to UCP600, from which can the beneficiary get two banksirrevocable undertaking to pay if complying documents are presented.A.Irrevocable creditB.Transferable creditC.Confirmed credit2.Which transport document of the following is not a goods title?A.Bill of ladingB.Multimodal transport documentsC.Air waybill3.Under an irrevocable credit, who must undertake primary liability for payment?A.The applicantB.The issuing bankC.The nominated bank4.With reference to ( ), the expression “transshipment not allowed” is not a binding term under credit transaction.A.Air transportationB.Marine transportationC.Insurance policy5.Silent confirmation is an arrangement made between ( )A.Beneficiary and advising bankB.Issuing bank and advising bankC.Beneficiary and applicant6. A credit can be transferred ( )A.From the first beneficiary to the second beneficiaryB.From the second beneficiary to the third beneficiaryC.From the applicant to the beneficiary7.As for a freely negotiable credit, which bank acts as a transferring bank?A.the advising bankB.the specifically authorized bankC.any negotiating bank8.Of documentary credit and documentary collection in international trade, ( ) is better for the seller as it means abank’s irrevocable undertaking to pay.A.The formerB.The latterC.Neither9.Which abbreviation of the following is for uniform customs and practice for documentary credits?A.UCPB.URCC.URDG10.( ) means “free on board a vessel” at the loading port, for which the seller does not supply insurance documents.A.FOBB.CFRC.FCA11.According to Incoterms 2000, which one of the below trade term is recommended when the credit requires an airwaybill marked freight prepaid to the airport of destination?A.CFRB.CPTC.FCA12.If an exporter is willing to release the shipping documents directly to the buyer, but wishes to retain someguarantee of payment should the buyer fail to pay on the due date, which of the following documentary credit best suits the exporter’s needs.A.TransferableB.StandbyC.Revolving13.How many working days does an issuing bank have to ascertain whether the documents are in compliance undera credit subject to UCP600?A. 5B. 6C.714.Besides insurance company or its agent, the party who is also qualified to sign insurance document is ( )A.UnderwriterB.BrokerC.Proxy15.Under CUP600 what is the minimum insurance amount acceptable when the credit requires the invoice amountbe CIF USD1000?D1000D1100D120016.Collections should not contain bills of exchange payable at a future date with instructions that commercialdocuments are to be delivered against payment. If collections contain such a bill with such instructions, documents will be released to the drawee upon ( ) and the presenting bank is not responsible for any consequences arising out of any delay of payment. (A, 522 Art. 7 c)A.The drawee’s paymentB.The drawee’s acceptanceC. A guarantee to pay17.In the case of documents payable at sight the presenting bank must bank must make presentation for payment ( )A.Within seven working daysB.Within 3 working daysC.Without delay18.In the case that the L/C accepts on deck bill of lading, a set of bill of lading with the notation “shipped on deck”instead of “shipped on board” appearing thereon is acceptable.A.RightB.WrongC.It’s arguable19.( ) in collection transactions, when documents presented lack bills of exchange, the remitting bank, upon requestof the drawer, may instruct either the collecting bank or the drawee to create the bills of exchange instead with proper requirements as to their form and wording. (C, Art.8 of 522 )A.Unless the remitting bank agreesB.Unless the presenting bank agreesC.No conditions needed20.An L/C stipulated that the expiry date for negotiation was May 1, 2003A.In the light of UCP600, the L/C was proper issued. But such a date will be deemed as the expiry date forpresentation of documentsB.In the light of UCP600, the L/C was badly issuedC.This stipulation can be disregarded. The period of presentation of documents would be 21 days after date ofshipment21.An L/C requires: invoice/bill of lading in 1 photocopy. What should the beneficiary present?A.Invoice in 1 photocopy or BL in 1 photocopyB. A document titled “invoice/bill of lading” in 1 photocopyC.The L/C is not clear, but it’s better to present an invoice and a BL each in photocopy22.The transportation document called for was an air waybill issued to order of the applicant. The air waybillpresented was issued to the applicant instead of to his order.A.The air waybill was discrepant.B.The air waybill was OK because the L/C did not prohibit the alterative of the consigneeC.The air waybill was OK because this alternative was allowed by the ISPB23.Which of the following clauses or notations appearing on the face of the transport document would preclude itfrom being accepted?A.Oil drums are leakingB.Highly flammable material or potentially explosive materialC.Refrigerated seafood, may spoil during voyage24. A beneficiary receives an irrevocable documentary credit for which USD22,500.00 may be drawn during eachmonth of the documentary credit’s one-year validity. The documentary credit also indicates that reinstatement is on a cumulative basis. Full monthly drawings were made during the first, second, fourth, fifth and seventh months and there have been no other drawings. In the last month of the documentary credit’s validity, the beneficiary expects to make a final shipment. What is the maximum value available for this final drawing?D112,500.00D135,000.00D157,500.0025. A documentary credit states that shipment dates would be acceptable?1.20 June2.27 June3.02 July4.03 JulyA. 1 and 2 onlyB. 1 and 4 onlyC. 2 and 3 only26.When an advising bank has accepted a time/usance draft under an advised documentary credit, they areresponsible for effecting payment at maturity when ( )?A.they have received funds from the issuing bank]B.they have received funds from the reimbursing bankC.the draft is presented by the beneficiary27.In accordance with UCP all the following statements relating to commercial invoices under a non-transferabledocumentary credit are correct EXCEPT the commercial invoices must ()A.Be manually signed by the beneficiaryB.Be made out it the name of the applicantC.Appear to have been issued by the named beneficiary and indicate the description of goods correspondingwith the documentary credit.28.Which of the following Incoterms is correctly described?Incoterm Insurance required Transport documentA.CFR Yes Freight CollectB.FOB No Freight PaidC.FCA No Freight Collect29.Which party has the most responsibility to examine the terms and conditions of a documentary credit against thesales agreement?A.ApplicantB.BeneficiaryC.Issuing bank30.In the case of a non-cumulative revolving documentary credit available for USD10,000.00 per month and validfor six months, which of the following statements is correct?1.The face value of the credit is USD10,000.002.The face value of the credit is USD 60,000.003.The amount(s) not utilized in one month may be carried over to the next4.The total undertaking of the issuing bank is USD60,000.00A. 1 and 3 onlyB. 1 and 4 onlyC.2,3 and 4 onlyPART TWO 多项选择1.An L/C calls for a certificate of origin issued by the ICC, which of the following samples are acceptable?2.Which of the following documents must be dated?A.Packing listB.DraftsC.Transport documentsD.Insurance documents3.L/C: a packing list and a weight list. Are the following packing lists acceptable under the above L/C?4.What does “exporting country” means?A.Country where the beneficiary is domiciledB.Country where the L/C is advisedC.Country of receipt of the goods by the carrierD.Country of origin of the goods or country from which shipment/dispatch is made5.What documents must be signed under the UCP 600?A.Certificate of originB.InvoiceC.Transport documents and insurance documentsD.Drafts and declaration6.Which of the following documents are original documents?A. A photocopy with manually signatureB.An invoice produced on beneficiary’s letter-headed paper without signature and/or not indicating“original”C. A signed document transmitted through a fax machine, though absent an original signatureD. A document with “original” on it7.Which of the following L/C is suitable to ask for a draft?A.Available by negotiationB.Available by deferred paymentC.Available by acceptanceD.Available by payment8.We issued the L/C as follows:L/C expired: Dec 27, 2005 at beneficiary’s 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.B/L on board date: Dec 10, 2005, all documents presented on Dec 25, 2005D.B/L on board date: Dec 01, 2005, all documents presented on Dec 15, 20059.Which of the following documents are not considered as transport documents under UCP600?A.Delivery order and mate’s receiptB.Forwarder’s certificate of receipt and forwarder’s cargo receiptC.Air waybill and bill of ladingD.Warehouse notes/receipt10.For the correction and alternation contained in the following documents, which need not be authenticated?a.Correction and alternation in commercial invoice visaed by XXX consulateb.Correction and alternation in packing list issued by the manufacturerc.Correction and alternation drafts issued by beneficiaryd.Correction and alternation in certificate of origin issued by beneficiary11.If an actual date of dispatch, though not required by the L/C subject to UCP600, to be shown on the air waybill,which date below is deemed to be the shipment date?A.Flight date: June 12, 2006 shown in the box for “carrier’s use only”B.Flight date: June 15, 2006C.Actual date of dispatch: june 17, 2006 made by a stampD. A or B12.Select the statements that correctly express the meaning of the UCPA.An L/C is independent of relative contract even if it is expressly referred to by the L/CB.If the L/C opening application bears any ambiguity in its instruction, the issuing bank should bear therisk to issue or amend the L/CC.If the applicant has accepted the discrepancies, the issuing bank can still refuse the documentsD.Once a beneficiary accepts an L/C he must execute it.13.Under an L/C indicating the goods description as “frozen beef”and reqiring invoice, B/L, packing list,certificate of origin, please determine the documents which are acceptable.A.Invoice indicating rhe goods description as “beef”B.B/L indicating the goods description as “beef”C.B/L indicating the goods description as “goods shipped as per invoice presented”D.Certificate of origin indicating the goods description as “goods shipped as per invoice presented”14. A credit available with () is also available with ()A. a nominated bank, the issuing bankB.the issuing bank, a nominated bankC.advising bank, transferring bankD.confirming bank, the issuing bank15.how would the issuing bank exercise control over the goods by air?A.insist upon holding the consignor’s copy of the air waybillB.insist upon holding original air waybill for the consigneeC.insist upon being named as consignee of the goods on the air waybillD.insist upon full set of air waybills to be presented16. A documentary credit calls for presentation of an insurance certificate. Which of the following insurancedocuments would be acceptable for CIF shipment where the invoice value is USD75,000?A.insurance certificate for USD82,500B.insurance policy for USD85,000C.insurance declaration for USD75,000D.insurance certificate for USD75,00017.the letter of credit requires “three copies of inspection certificate issued by CCIC”. The documents presented asfollows. Which is acceptable?A.in 3 originalsB.in 3 copiesC.in 1 original and 2 copiesD.in 2 originals and 1 copy18.an issuing bank has issued a sight documentary credit to a beneficiary authorizing a nominated bank to pay thebeneficiary for all documentary presented in accordance with the documentary credit terms and conditions.Upon receipt of complying documents drawn under the documentary credit directly from the beneficiary, the issuing bank should:A.examine the documents and pay the beneficiaryB.verify the documents and pay the nominated bankC.return the documents to the beneficiary for presentation to the nominated bankD.remit the documents to the nominated bank for examination19.under which of the following situation, the on board notation on B/L should also indicate the actual port ofloading?A.when B/L contains the indicating “intended vessel” or similar qualification in relation to the vesselB.when B/L indicates the port of loading of the credit in the column “place of receipt” rather than in thecolumn of “port of loading”C.when B/L contains the indicating “intended port of loading” or similar qualification in relating to theport of loadingD.when B/L indicates that “goods have been received in appearance good condition”20.which of the following statements about transferable L/C is correct?A.in case of freely negotiable L/C, the issuing bank should specifically nominate in the credit a bank asthe transferring bankB.the transferable L/C could be transferred more than onceC.the transferable L/C could be transferred to more than one second beneficiary if partialshipment/drawing is not prohibitedD.refusal of an amendment by one second beneficiary will invalidate the acceptance(s) by the othersecond beneficiary (ies).Part Three 是非判断1.would charter party B/L be acceptable when the L/C calls for an ocean B/L2.an L/C calls for CFR shipment. The B/L is marked “freight paid” and “free out”, would this be acceptable?3.an L/C calls for FOB shipment and B/L marked “freight collect”, the B/L is marked “freight collect” and “freein”, would this be acceptable?4.an L/C calls for an ocean B/L and delivery on FOB terms. Would a B/L be acceptable if marked “freight payableas per charter party”?5.an L/C calls for an AWB showing “actual flight date”. When received, the AWB shows this information but in abox marked “for carrier’s information only”. Would this be acceptable?6.under “documents required”and L/C lists both “certificate of origin”and “GSP form A”. only the latterdocument is presented by the beneficiary. Would this be acceptable?7.an L/C calls for a certificate regarding the vessel “to be issued by the carriers”. The B/L has been issued byBorneo Shipping Pte Ltd as agents for the carrier, Nyk Line. Borneo Shipping has also issued the certificate as agents for Nyk Line. Would this be acceptable?8.an L/C calls for presentation of a copy telex/fax to the applicants giving certain information. The documentpresented is the beneficiary’s signed certificate that they have sent such a telex to the applicant (the certificate also lists the information sent which is accurate and complete). Would this be acceptable?9.an L/C calls for “commercial invoice”, when presented, the invoice, which has been computer-generated, is notmarked “original”, it does however bear an original manual signature. Would this be acceptable?10. A beneficiary presents documents within the expiry date of the L/C but they contain discrepancies. Thebeneficiary collects the offending documents for correction (leaving the rest with the bank) and in due course presents correct documents, however, in the interim the L/C has expired. Should the bank now reject the documents for “credit expired”?11.an L/C (which allows transshipment) calls for shipment from a UK airport. The AWB shows goods on a flightfrom Paris to London then transshipment to another flight from London to the ultimate destination as specified in the L/C. would this be acceptable?12.an L/C issued in favour of a beneficiary in Galle, Srilanka calls for a certificate of origin issued by the “localchamber of commerce”, when presented it has been issued by the chamber of commerce in Colombo, srilanka.Would this be acceptable?13.an L/C calls for ocean shipment from “western Europe to south korea”. In full utilization of the L/C, thedocuments presented include 3 sets of ocean B/L all showing the same vessel/voyage but 3 different ports of loading (all within western europe) and 3 different ports of discharge (all in south korea). Does this constitute evidence of partial shipment?14.an L/C subject to UCP600 specified that the L/C number must be quoted in all documents presented. Thecommercial invoice did not quote the L/C no. and issuing bank refused payment. Is the issuing bank correct in its refusal?15.is the following invoice acceptable or not?Description of the goods in an L/C is: 1000 pieces of towelsL/C amount: USD1000Invoice presented shows: Towels: 1000 piecesTotal value: USD 1000Samples of cap: 20 free of chargePart Four 判断正误1.Having transferred the full shipment/expiry dates and presentation period and made the L/C available in thetransferee’s country, the first beneficiary cannot now substitute documents after the L/C has expired or late presentation occurred.2.part shipments/drawings are prohibited unless otherwise stated in the L/C.3.unless otherwise stated in the L/C, transport documents must show the L/C beneficiary as shipper/ consignor.4.an L/C calls for invoices in triplicate. When presented, they are identical computer-generated documents none ofwhich is marked original. However, this is acceptable as the L/C only stated triplicate, not original and two copies.5.an insurance policy is acceptable in lieu of an insurance certificate and vice versa.6.according to article 13 of UCP600, if the credit stipulates that a claiming bank must supply a certificate ofcompliance with the terms and conditions of the credit when making reimbursement claim, the reimbursing bank can disregard such a stipulation.7. a bill of lading with pre-printed wording to show that the goods have been loaded on board can simultaneouslybear a dated on-board notation. In such a case the date of the on-board notation will be deemed to be the date of shipment whether it is earlier or later than the issuance date or the two are the same.8.if the bill of lading indicates a place of receipt or taking in charge different from the port of loading, the on boardnotation must also include the port of loading stipulated in the credit and the name of the vessel on which the goods have been loaded, even if they have been loaded on the vessel named in the bill of lading. This provision does not apply when loading on board the vessel is indicated by pre-printed wording on the bill of lading.9.terms such as “first class”, “well-known”, “independent”, “local”, “official”, “qualified”, “competent” and thelike are ambiguous words in light of the UCP. If such terms are incorporated in the credit, banks will accept the relative document (s) as presented, provided that it appears on its face to be in compliance with the other terms and conditions of the credit.10.as for a charter party bill of lading, banks will not examine the charter party contract to which the bill of ladingis subject. But if the credit requires beneficiary(ies) to present the contract along with other documents banks have to determine whether it is in compliance with the terms and conditions of the credit.11.under a freely negotiable and transferable credit any bank except the issuing bank is a nominated bank. Now thatthe relative article of UCP600 sets a rule that only the nominated bank has the right to make the transfer, thereof any bank exclusive of the issuing bank can transfer such a credit unless otherwise stipulated.12.without the agreement or authorization of the applicant, an issuing bank must issue a credit strictly as what theapplication says and cannot make any alteration even if to supplement or develop the terms in a manner necessary or desirable to permit the use of the credit.13.if a signature and/or endorsement is required to be on a document consisting of more than one page, thesignature is normally placed on the first or last page of the document, but unless the credit or the document itself indicates where a signature or endorsement is to appear, the signature or endorsement may appear anywhere on the document14.if an L/C requires “invoice” or “one invoice” it will be understood to be a requirement for an original invoice. Ifan L/C requires “invoice in 1 copy”, it will be understood to be a requirement for a copy of an invoice.15.an L/C called for one copy of insurance certificate, the original to be sent to the applicant by the beneficiaryoutside the L/C. the beneficiary presented one original in place of one copy. The original indicated on its face in column: NUMBER OF ORIGINAL: ONE. The presentation is valid.16.description of goods: 100 tables, unit price: USD100 FOB shenzhen, total value: USD10000 partial shipmentalloweddescription of goods in presented invoice:100 tables, unit price: USD 100 FOB ShenZhen10 tables first shipmenttotal value: USD1000the description of goods in presented invoice is not acceptable.17.the signature of the below bill of lading is compliance18.UCP600 is quite clear in stating that for the purpose of the articles in UCP, branches of a bank in a differentcountry is considered to be sepearate bank. It follows that a branch of a bank in the same country is considered to be the same bank.19. a credit requires the bill of lading to show on board notation which should be dated, stamped and countersigned.In this respect if the bill of lading is signed by the carrier, the notation should not be countersigned by the carrier.20. a credit subject to UCP600 calls for “international consignment not- copy for shipper”. An internationalconsignment note is presented without the words or marking “copy for shipper”, neither does it show for whom the document has been prepared. The document without the words or making “copy for shipper”creates a discrepancy.SELF CHECKING ANSWER LISTPart 1 单项选择1C2C3B4A5A6A7B8A9A10A11B12B13A14AC15B16A17C18B19C20A21C22C23A24C25C26C27A28C29B30BPART 2 多项选择1AB2BCD3C4ACD5ACD6ABD7ACD8AD9ABD10D11C12AC13BD14AD15BC16AB17ABCD18A19BC20ACPART 3 判断是非1W2R3R4W5W6W7R8W9R10R 11W12R13R14R15W PART 4 判断正误1F2F3F4F5F 6F7T8F9F10F 11F12F13T14F15T 16F17T18T19F20F。
