bug国际结算英文选择题90(附答案)

Introduction1.To the exporter,the fastest and safest method of settlement is(B)A.letter of creditB.cash in advanceC.open accountD.banker’s draft2.To the importer,the most favorable method of settlement is(C)A.letter of creditB.cash in advanceC.open accountD.collection3.Which of the following payment method is based on commercial credit?(C)A.letter of creditB.banker’s letter of guaranteeC.collectionD.standby credit4.An exporter sells goods to a customer abroad on FOB and on CIF terms,who is responsible for the freight charges in each?(A)A.importer;exporterB.exporter;importerC.importer;importerD.exporter;exporter5.International cash settlement has the following disadvantages except(B)A.expensiveB.safeC.riskyD.time-consuming6.CHIPS is the electronic clearing system for(B)A.GBPDYD.EUR7.CHAPS is the electronic clearing system for(A)A.GBPDYD.EUR8.From a Chinese bank’s point of view,the current account it maintains abroad is known as(A)A.a nostro accountB.a vostro accountC.a current accountD.a home currency account9.From a Chinese bank’s point of view,the current account maintained by a foreign bank with him is known as（B）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account10.International trade settlement methods are used to complete the money transfer aroused by(A)A.goods transactionsB.services supplyC.current transfersD.investment incomes11.Documentary credit business is subject to(A)A.UCP600B.URC522C.URDG758D.ISP9812.Collection business is subject to(B)A.UCP600B.URC522C.URDG758D.ISP9813.Standby credit business is subject to(D)A.UCP600B.URC522C.URDG758D.ISP9814.Letter of guarantee business is subject to(C)A.UCP600B.URC522C.URDG758D.ISP9815.London is the clearing centre for(B)DB.GBPC.EURD.HKD16.New York is the clearing centre for(A)DB.GBPC.EURD.HKD17.Tokyo is the clearing centre for(D)DB.GBPC.EURD.JPY18.Frankfurt is the clearing centre for(C)DB.GBPC.EURD.HKD19.There are totally ten categories of message types in SWIFT system,among which(A)are used only to deal with remittance business.A.category1B.category2C.category4D.category720.There are totally ten categories of message types in SWIFT system,among which(C)are used only to deal with collection business.A.category1B.category2C.category4D.category721.There are totally ten categories of message types in SWIFT system,among which(D)are used to deal with letter of credit business.A.category1B.category3C.category4D.category722.BOJ-NET is the electronic clearing system for(D)DB.GBPC.EURD.JPY23.TARGET is the electronic clearing system for(C)DB.GBPC.EURD.JPY24.CHATS is the electronic clearing system for(D)DB.GBPC.EURD.HKD25.Among the following documents,the one which is not regarded as control documents is(D)A.authorized signaturesB.test keysC.schedule of terms and conditionsD.correspondent arrangement26.The seller should arrange for the insurance of the goods transportation under(C)A.FOBB.CFRC.CIFD.EXWNegotiable instruments27.A cheque must be signed by（A）A.the drawer B the drawee C.the payer D.the payee28.If a cheque dated1st Feb.2007was presented on（D）,it would be post-dated.A.1st Mar.2007B.2nd May2007C.1st Feb.2008D.5th Jan.200729.（A）cheque can be cashed over the counter of paying bank.A.An openB.A crossedC.A general crossingD.A special crossing30.The effect of a blank endorsement is to make the cheque payable to the（C）A.specified person B,order of a specified person C.bearer d person31.The role of the（A）bank is to debit the cheque to the customer’s account.A.paying B,collecting C.advising D.confirming32.If the bill is payable“60days after date”,the date of payment is decided according to（C）A.the date of acceptanceB.the date of presentationC.the date of issuanceD.the date of maturity33.A（B）carries comparatively little risks and can be discounted at the finest rate of interest.A.sight billB.bank billC.time billmercial bill34.A term bill may be accepted by the（B）A.drawerB.draweeC.holderD.payee35.The party to whom the bill is addressed is called the（B）A.drawerB.draweeC.holderD.payee36.When financing is without recourse,this means that the bank has no recourse to the（D）if such drafts are dishonored.37.The（C）of a promissory note assumes the prime liability to make payment of the note.A.holderB.draweeC.makerD.acceptor38.The bill which must be presented for acceptance is（B）A.the bill payable at xx days after dateB.the bill payable xx days after sightC.the bill payable on a fixed dateD.the bill payable at sight39.In order to retain the liabilities of the other parties,a bill that has been dishonored must be （A）A.protestedB.given to the acceptorC.retained in the filesD.presented to a bank40.（C）is not a holder of a billA.PayeeB.EndorseeC.DrawerD.Bearer41.Which of the following is a relative essential item of a bill?（B）A.amountB.tenorC.payeeD.drawee42.An endorsement,which prohibits the further negotiation of the instrument,is called（D）endorsement.A.qualifiedB.generalC.specificD.restrictive43.A check is a（D）draft drawn on a bankA.timeanceC.directD.demand44.An acceptance with“payable on delivery of bill of lading”on the draft is（D）A.general acceptanceB.partial acceptanceC.non-acceptanceD.qualified acceptance45.The（B）of the draft is the person who is instructed to make the payment.A.drawerB.draweeC.payerD.payee46.The act which is never involved in promissory note business is（C）A.endorsementB.dishonorC.acceptanceD.presentation47.The act which is never involved in check business is（C）A.endorsementB.dishonorC.acceptanceD.presentation48.The draft with the tenor written as(B)must be presented for acceptance.A.payable at sightB.payable at30days after sightC.payable at30days after dateD.payable at30days after shipment date49.The endorsement which has no intention to transfer the ownership of the instrument is(D)A.blank endorsementB.special endorsementC.conditional endorsementD.endorsement for collection50.Among the following persons,the one who has the right to endorse negotiable instruments is(D)A.drawerB.draweeC.endorserD.holder51.The person who has the right of recourse is the(C)of the negotiable instruments.A.drawerB.draweeC.holderD.acceptor52.The acceptor of a bill is the person who originally named as(B)of the bill.A.drawerB.draweeC.payeeD.endorser53.The first endorser of a bill is the(C)of the billA.drawerB.draweeC.payeeD.acceptor54.The first holder of a bill is the(C)of the bill55.Among the following crossed cheques,the one which contains the words(D)is a special crossed cheque.A.bankerB.not negotiableC.A/C payeeD.Bank of ChinaRemittance56.The means of authenticating payment order in mail transfer is the（D）A.SWIFT authentic keyB.schedule of terms and conditionsC.test keyD.authorized signatures57.The means of authenticating payment order in telegraphic transfer is the（C）A.correspondent arrangementB.schedule of terms and conditionsC.test keyD.authorized signatures58.Which of the following is not a method of remittance?（C）A.M/TB.T/TC.T/RD.D/D59.Open account as a payment method is usually used when（D）A.goods are sold under the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition60.In remittance business,the remitting bank may send the payment order to the paying bank through SWIFT by(A)A.MT103B.MT202C.MT400D.MT70061.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have credited your A/C with us’,the A/C relationship between the remitting bank and the paying bank must be(A)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks62.If the reimbursement instruction written on the payment order is expressed as‘in cover,please debit our A/C with you’,the A/C relationship between the remitting bank and the paying bank must be(B)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks63.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have authorized Bank A to debit our A/C and credit your A/C with them’,the A/C relationship between the remitting bank and the paying bank must be(C)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks64.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have instructed Bank X to transfer the proceeds to your A/C with bank Y’,the A/C relationship between the remitting bank and the paying bank must be(D)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks65.In remittance business,if the paying bank maintains an A/C with remitting bank,the reimbursement instruction should be given as(A)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank66.In remittance business,if the remitting bank maintains an A/C with paying bank,the reimbursement instruction should be given as(B)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank67.In remittance business,if both remitting bank and paying bank maintain their A/Cs with a third bank,the reimbursement instruction should be given as(C)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank68.In remittance business,if remitting bank and paying bank have their A/Cs with two different banks,the reimbursement instruction should be given as(D)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank Collection69.It will be more convenient if the collecting bank appointed by the seller（B）A.is a large bankB.is the remitting bank’s correspondent in the place of the importerC.is in the exporter’s countryD.acts on the importer’s instructions70.Under D/P,the documents will not be delivered to the buyer until（D）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is paid by the buyer71.Under D/A,the documents will not be delivered to the buyer until（D）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is accepted by the buyer72.In collection business,dedailed instructions must be sent to the collecting bank（B）A.in the application formB in the collection orderC.in the documentsD.in the sales contract73.In collection business,dedailed instructions must be given to the remitting bank（A）A.in the application formB in the collection orderC.in the documentsD.in the sales contract74.In collection business,banks are obligated to verify the documents received to see that（C）A.they are authenticB.they are regularC.they are the same as those listed in the collection instructionD.they are in the right form75.The collecting bank will make a protest only when（C）A.the documents are rejectedB.the case of need is nominatedC.instruction to protest is given by the collection orderD.protective measures in respect of the goods are taken.76.All the parties to a collection are bound by（C）if the collection is subject to it.A.UCP500B.UCP600C.URC522D.URDG75877.A bill of exchange which is accompanied by shipping documents is known as（B）A.a clean billB.a documentary billC.a clean collectionD.a documentary collection78.In documentary collection,after the goods have been shipped,the exporter presents the documents to（B）for collectionA.the collecting bankB.the reimbursing bankC.the remitting bankD.the opening bank79.The instructions for collection are mainly（D）A.given in the S/CB.written on the bill of exchangeC.given by the importerD.given by the exporter80.Which type of collection offers the greatest security to the exporter?（B）A.documents against acceptance collectionB.documents against payment collectionC.clean collectionD.documentary collection81.Which of the following is not the obligation of the remitting bank?（D）A.to complete a collection order strictly according to the principal’s instructions.B.to perform following all the instructions given by the principal.C.to keep the documents wellD.to examine the contents of documents in detail82.Which of the following is not the obligation of the collecting bank?（B）A.to verify the authenticity of the collection orderB.to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.83.Case of need in collection business is the representative of（A）A.the principalB.the remitting bankC.the collecting bankD.the drawee84.In collection business,the drawer of the draft for collection is(A)A.sellerB.buyerC.remitting bankD.collecting bank85.In collection business,the drawee of the draft for collection is(B)A.sellerB.buyerC.remitting bankD.collecting bank86.If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may be waived,charges will be for the account of(A)providing the drawee refuses to pay them.A.principalB.remitting bankC.collecting bankD.presenting bank87.The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as(A)A.MT400B.MT410C.MT412D.MT41688.The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as(C)A.MT400B.MT410C.MT412D.MT41689.The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as(D)A.MT400B.MT410C.MT412D.MT41690.The price term which is more favorable to the seller under collection is(D)A.EXWB.FOBC.CFRD.CIFLetter of credit91.In L/C business,the exporter can receive the payment only when__C____A.he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.92.The issuing bank can refuse to pay the credit amount when____C___A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.balance of the applicant’s account is not enough for payment.93.Of the following kinds of L/C,__B_____is the L/C which require no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit94.Of the following kinds of L/C,(C)is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit95.Of the following kinds of L/C,____D___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit96.Of the following kinds of L/C,___A___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.transferable creditB.reciprocal creditC.revolving creditD.confirmed credit97Of the following kinds of L/C,____C___is the L/C which is especially suitable for use to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit98.Of the following kinds of L/C,____B___is the L/C which is especially suitable for use to settle the payment under barter transaction.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit99.Confirmation of a credit may be given by BA.the beneficiary at the request of the importerB.the advising bank at the request of the issuing bankC.the advising bank after the receipt of correct documentationD.the issuing bank after the receipt of correct documentation100.The credit may only be confirmed if it is so authorized or requested by(A)A.the issuing bankB.the supplierC.the advising bankD.the beneficiary101.The beneficiary of a transferred credit is(C)A.the negotiating bankB.the middlemanC.the actual supplierD.the beneficiary of the transferable credit102.The second beneficiary of a transferable letter of credit is the(D)A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods103.The first beneficiary of a transferable letter of credit is the(A)A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods104.The sum of the transferred credit will normally be(B)A.the same as in the credit before transferB.less than in the credit before transferC.more than in the credit before transferD.equal to the original credit105.The terms and conditions of the transferred credit can be different from the original credit in the following aspects,with the exception of(C).A.the amount of the creditB.any unit price stated in the creditC.any quantity stated in the creditD.the expiry date,the period for presentation,or the latest shipment date106.Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary?(D)A.the issuing bankB.the advising bankC.the beneficiaryD.the applicant107.The red clause credit is often used as a method of(B)A.providing the buyer with funds prior to shipmentB.providing the seller with funds prior to shipmentC.providing the buyer with funds after shipmentD.providing the seller with funds after shipment108.An applicant must reimburse an issuing bank unless he finds that(D)A.goods are defectiveB.goods are not as ordered in the sales contractC.documents received do not allow him to clear the goods through customsD.documents do not conform on the face to the terms and conditions of the credit 109.Application for any amendment to a letter of credit should be given to the issuing bank by(A)A.the applicantB.the beneficiaryC.the advising bankD.the nominated bank110.In L/C business,documents are presented to(D)by the beneficiaryA.the advising bankB.the issuing bankC.the reimbursing bankD.the nominated bank111.If discrepancies found are serious,the following ways can be used by the negotiating bank to deal with them except(A)A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor112.According to the mode of availability L/C can be classified as(C)A.clean L/C and documentary L/CB.confirmed L/C and unconfirmed L/CC.sight payment L/C,acceptance L/C,deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/C113.Among all the financial methods mentioned bellow,which method provides funds without recourse？CA.packing loansB.bill discountingC.forfeitingD.borrowing docs against T/R114.Under letter of credit,the primary debtor is the(C)A.applicantB.importerC.issuing bankD.nominated bank115.The applicant of letter of credit is(B)A.the exporterB.the importerC.the exporter’s bankD.the importer’s bank 116.The beneficiary of letter of credit is(A)A.the exporterB.the importerC.the exporter’s bankD.the importer’s bank 117.A letter of credit which is expired on Oct.1,2008specifies that“documents must be presented within15days after the on board date of bill of lading”.If the on board date of bill of lading is Sep.10,2008,the latest date of presentation must be (B)A.Sep.24,2008B.Sep.25,2008C.Sep.26,2008D.Oct.1,2008118.A letter of credit which is expired on Oct.1,2008specifies that“documentsmust be presented within15days after the on board date of bill of lading”.If the on board date of bill of lading is Sep.25,2008,the latest date of presentation must be (D)A.Sep.24,2008B.Sep.25,2008C.Sep.26,2008D.Oct.1,2008119.The message type which is used to issue letter of credit through SWIFT is numbered(A)A.700B.705C.707D.710120.The message type which is used to send a amendment to a documentary credit through SWIFT is numbered(C)A.700B.705C.707D.710121.Which of the following actions performed by the nominated bank is not regard as the action of honor(D)A.to pay at sight under sight payment creditB.to incur a deferred payment undertaking and pay at maturity under deferred payment creditC.to accept the draft and pay at maturity under acceptance creditD.to negotiate under negotiation creditplying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit,the applicable rules of UCP and provisions of(B)A.ISP98B.ISBP681C.ICC Publication No.522D.ICC Publication No.758123.Among the following items,the one which is not required to be included in a drawn clause of a draft under letter of credit is(A)A.the S/C NoB.the L/C NoC.the name of issuing bankD.the issuing date of the credit124.Among the following banks,the one who has no obligation to examine documents under letter of credit is(C)A.the issuing bankB.the confirming bankC.the reimbursing bankD.the nominated bank125.The expression"on or about"or similar will be interpreted as a stipulation that an event is to occur during a period of(B)the specified date,both start and end dates included.A.three calendar days before until three calendar days afterB.five calendar days before until five calendar days afterC.seven calendar days before until seven calendar days afterD.eleven calendar days before until eleven calendar days after126.If letter of credit specifies the latest date of shipment is on or about May10,then the actual shipping date should be within(D),both start and end dates included, A.May6-15 B.May5-14 C.May6-14 D.May5—15127.If a bill which is drawn on Dec.1,2008specifies the tenor as payable at30days after date,the due date of the bill should be(C)A.Dec.29.2008B.Dec..30,2008C.Dec.31,2008D.Jan.1,2008128.If a bill which is accepted on Nov.1,2008specifies the tenor as payable at30days after sight,the due date of the bill should be(C)A.Nov.29.2008B.Nov.30,2008C.Dec.1,2008D.Dec.2,2008 Documents129.Short form B/L is considered to be(A).A.document of titleB.additional documentC.non-negotiablemercial invoice130.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.liner B/LD.received for shipment B/L131.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.clean B/LD.charter party B/L132.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.clean B/LD.on deck B/L133.Unless otherwise stipulated,banks will not accept(C)A.direct B/LB.order B/LC.unclean B/LD.liner B/L134.If a credit calls for an insurance policy,banks will accept(A)A.an insurance policyB.an insurance certificateC.a or bD.both a and bmercial invoice must be made out in the name of(B)A.the beneficiaryB.the applicantC.advising bankD.issuing bank136.A bill of lading doesn't function as(D)A.a contract of transportationB.a receipt of goodsC a certificate of title to the goods D.an accounting document137.Freight to collect B/L is suitable for use under(D)A.CFRB.CIFC.DDUD.FOB138.Freight prepaid B/L is suitable for use under(A)A.CFRB.EXWC.FCAD.FOB139.The drawee of a draft drawn under letter of credit may be(C)A.the beneficiaryB.the applicantC.the issuing bankD.the negotiating bank140.The drawer of a draft drawn under letter of credit may be(A)A.the beneficiaryB.the applicantC.the issuing bankD.the negotiating bank141.Among the following marine cargo transport risks,the one which can not be insured alone is(B)A.All RisksB.War RisksC.FPAD.WPA142.Basic risks refer to the following kinds except（C）A、FPAB、WAC、War RisksD、All Risks143.If the bill of lading is made out to order,it must be endorsed by（B）so as to complete the transfer of the title to the goods.A.the carrierB.the shipperC.the notify partyD.the nominated bank144.If there is no indication in the credit of the insurance coverage required,the amount of insurance coverage must be at least(C)of the CIF or CIP value of the goods.A.100%B.105%C.110%D.120%。

1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3. Which of the following payment method is based on commercial credit?( C )A.letter of creditB.bank guaranteeC. collectionD. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A. importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7. CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBPC.EURD.JPY9. TARGET is the electronic clearing system for ( C )A. USDB. GBPC.EURD.JPY10. CHATS is the electronic clearing system for ( D )A. USDB. GBPC.EURD.HKD11. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current accountD.a home currency account12. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account13. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB. services supplyC. security investmentD. investment incomes14. Documentary credit business is subject to ( A )A. UCP600B.URC522C. URDG758D. ISP9815. Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9816. Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9817.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9818. London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD19. New York is the clearing centre for ( A )A. USDB. GBPC.EURD.HKD20. Tokyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY21. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD22.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement23. The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXW24.（ A ）cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing25. The effect of a blank endorsement is to make a negotiable instrument payable to the （C ）A. specified person B, order of a specified person C. bearer D. named person26. If the bill is pay able “60 days after date”, the date of payment is decided according to （C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity27. The party to whom the bill is addressed is called the（B ）A. drawerB. draweeC. holderD. payee28. When financing is without recourse, this means that the bank has no recourse to the （D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer29. The（C ）of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor30. The bill which must be presented for acceptance is （B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank32.（C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer33. Which of the following is a relative essential item of a bill ?（B ）A. amountB. tenorC. payeeD. drawee34. An endorsement ,which prohibits the further negotiation of the instrument ,is called （D ）endorsement .A. qualifiedB. generalC. specificD. restrictive35. A check is a （D ）draft drawn on a bankA. timeanceC. directD. demand36. The act which is never involved in promissory note business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation37. The act which is never involved in check business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation38. The acceptor of a bill is the person who originally named as ( B ) of the bill.A. drawerB. draweeC.payeeD.endorser39. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of China41. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures42. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures43. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D44. Open account as a payment method is usually used when （ D ）A.goods are sold u nder the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition45. If the reimbursement instruction written on the payment order is exp ressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks46. If the reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks47. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank mustbe( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks48. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks49. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions50. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer51. Under D/A, the documents will not be delivered to the buyer until （D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer52. In collection business, banks are obligated to check the documents received to see that （C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form53. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection54. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank55. Which of the following is not the obligation of remitting bank in collection ?（D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail56. Which of the following is not the obligation of the collecting bank?（B ）A.to verify the authenticity of the collection orderB. to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.57.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank58. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank59. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank60.The price term which is more favorable to the seller under collection is ( D )A. EXWB. FOBC. CFRD. CIF61. In L/C business , the exporter can receive the payment only when ( C )A. he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.62. In L/C business, the issuing bank can refuse to pay the credit amount when ( C )A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.b alance of the applicant’s account is not enough for payment .63. Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit64. Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit65. Of the following kinds of L/C, ( D ) is the L/C which is especially suitable foruse to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit66. Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditD.confirmed credit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit68.Of the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit69. Confirmation of a credit may be given by ( B )A. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation70. The credit may only be confirmed if it is so authorized or allowed by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary71. The second beneficiary of a transferable letter of credit is the ( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods72. The first beneficiary of a transferable letter of credit is the ( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods73. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment74. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit75. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank76. The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 71077.Among all the financial methods mentioned bellow , which method provides funds without recourse ？( C )A. packing loansB. bill discountingC. forfaitingD. borrowing docs against T/R78.Under letter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank79. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. the importer’s bank80. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. the importer’s bank81.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100%B.105%C. 110%D.120%83. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity under deferred payment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit84. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 75885. Among the following banks, the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank86.The following are the financing methods which can be used by the seller in L/C business except ( D )A. negotiating the documentary draft to his bankA.applying for packing loans from his bankB.discounting the time draft already accepted by the drawee bankD. Borrowing docs from issuing bank against T/R87.The following are the financing methods which can be used by the buyer in L/C business except ( D )A.applying for issuing L/C with no margin requirement.B.borrowing docs from issuing bank against T/RC.taking the goods from shipping company against indemnity guarantee signed by the issuing bank.D.applying for packing loans from his bank88. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document89. The drawee of a draft drawn under letter of credit may be ( C )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank90. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .A. the carrierB. the shipperC. the notify partyD. the nominated bank。

Introduction1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )of credit B. cash in advance C. open account D. collection3. Which of the following payment method is based on commercial credit( C )of credit ’s letter of guarantee C. collection D. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each ( A ); exporter B. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )B. USD D. EUR7. CHAPS is the electronic clearing system for ( A )B. USD D. EUR8. From a Chinese bank’s point of view , the current account it maintains a broad is known as ( A )A. a nostro accountB. a vostro accountC. a current account home currency account9. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）nostro account vostro accountcurrent account foreign currency account10. International trade settlement methods are used to complete the money transferaroused by ( A)A. goods transactionsB. services supplyC. current transfersD. investment incomes11. Documentary credit business is subject to ( A )A. UCP600 522 C. URDG758 D. ISP9812. Collection business is subject to ( B )A. UCP600 522 C. URDG758 D. ISP9813. Standby credit business is subject to ( D )A. UCP600 522 C. URDG758 D. ISP98of guarantee business is subject to ( C )A. UCP600 522 C. URDG758 D. ISP9815. London is the clearing centre for ( B )A. USDB. GBP16. New York is the clearing centre for ( A )A. USDB. GBP17. Tokyo is the clearing centre for ( D )A. USDB. GBP18. Frankfurt is the clearing centre for ( C )A. USDB. GBP19. There are totally ten categories of message types in SWIFT system, among which ( A ) are used only to deal with remittance business.A. category 1B. category 2C. category 4D. category 720. There are totally ten categories of message types in SWIFT system, among which ( C ) are used only to deal with collection business.A. category 1B. category 2C. category 4D. category 721. There are totally ten categories of message types in SWIFT system, among which ( D ) are used to deal with letter of credit business.A. category 1B. category 3C. category 4D. category 722. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBP23. TARGET is the electronic clearing system for ( C )A. USDB. GBP24. CHATS is the electronic clearing system for ( D )A. USDB. GBPthe following documents, the one which is not regarded as control documents is ( D ) A. authorized signatures B. test keysC. schedule of terms and conditionsD. correspondent arrangement26. The seller should arrange for the insurance of the goods transportation under ( C )Negotiable instruments27. A cheque must be signed by （ A ）drawer B the drawee C. the payer D. the payee28. If a cheque dated 1st Feb. 2007 was presented on （ D ） , it would be post-dated. Mar. 2007 B. 2nd May 2007 C. 1st Feb. 2008 D. 5th29.（ A ） cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing30. The effect of a blank endorsement is to make the cheque payable to the （ C ）A. specified person B, order of a specified person C. bearer D. named person31. The role of the （ A ）bank is to debit the cheque to the customer’s account.A. paying B, collecting C. advising D. confirming32. If the bill is pay able “60 days after date”, the date of payment is decidedaccording to （ C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity33. A （ B ）carries comparatively little risks and can be discounted at the finest rate of interest.A. sight billB. bank billC. time billD. commercial bill34. A term bill may be accepted by the （ B ）A. drawerB. draweeC. holderD. payee35. The party to whom the bill is addressed is called the（ B ）A. drawerB. draweeC. holderD. payee36. When financing is without recourse, this means that the bank has no recourse to the （ D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer37. The（ C ） of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor38. The bill which must be presented for acceptance is （ B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight39. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank40.（ C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer41. Which of the following is a relative essential item of a bill （ B ）A. amountB. tenorC. payeeD. drawee42. An endorsement ,which prohibits the further negotiation of the instrument ,is called （ D ）endorsement .A. qualifiedB. generalC. specificD. restrictive43. A check is a （ D ）draft drawn on a bankA. time C. direct D. demand44. An acceptance with “ payable on delivery of bill of lading” on the draft is （ D ）acceptance acceptanceacceptance45. The （ B ）of the draft is the person who is instructed to make the payment .A. drawerB. draweeC. payerD. payee46. The act which is never involved in promissory note business is （ C ）47. The act which is never involved in check business is （ C ）48. The draft with the tenor written as ( B ) must be presented for acceptance. at sight B. payable at 30days after sightC. payable at 30 days after dateD. payable at 30 days after shipment date49. The endorsement which has no intention to transfer the ownership of the instrument is ( D )A. blank endorsementB. special endorsementC. conditional endorsementD. endorsement for collection50. Among the following persons, the one who has the right to endorse negotiable instruments is ( D )A. drawerB. draweeC. endorserD. holder51. The person who has the right of recourse is the ( C )of the negotiable instruments.A. drawerB. draweeC. holderD. acceptor52. The acceptor of a bill is the person who originally named as ( B ) of the bill.A. drawerB. drawee53. The first endorser of a bill is the ( C ) of the billA. drawerB. drawee54. The first holder of a bill is the ( C ) of the billA. drawerB. drawee55. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of ChinaRemittance56. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures57. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures58. Which of the following is not a method of remittance （ C ）A. M/TB. T/TC. T/RD. D/D59. Open account as a payment method is usually used when （ D ）are sold under the seller’s market conditionare badly needed by the buyerare of special standards or special specificationsare sold under the buyer’s market condition60. In remittance business ,the remitting bank may send the payment order to thepaying bank through SWIFT by ( A )A. MT103 202 C. MT40061. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banksthe reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks63. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks64. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks65. In remittance business, if the paying bank maintains an A/C with remitting bank, the reimbursement instruction should be given as ( A )cover , we have credited your A/C with uscover , please debit our A/C with youcover , we have authorized xxx bank to debit our A/C and credit your A/C with them cover , we have instructed A bank to pay the proceeds to your A/C with B bank 66. In remittance business, if the remitting bank maintains an A/C with paying bank, the reimbursement instruction should be given as ( B )cover , we have credited your A/C with uscover , please debit our A/C with youcover , we have authorized xxx bank to debit our A/C and credit your A/C with them cover , we have instructed A bank to pay the proceeds to your A/C with B bank remittance business, if both remitting bank and paying bank maintain their A/Cs with a third bank, the reimbursement instruction should be given as ( C )cover , we have credited your A/C with uscover , please debit our A/C with youcover , we have authorized xxx bank to debit our A/C and credit your A/C with them cover , we have instructed A bank to pay the proceeds to your A/C with B bank 68. In remittance business, if remitting bank and paying bank have their A/Cs with two different banks, the reimbursement instruction should be given as ( D )cover , we have credited your A/C with uscover , please debit our A/C with youcover , we have authorized xxx bank to debit our A/C and credit your A/C with themcover , we have instructed A bank to pay the proceeds to your A/C with B bank Collection69. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions70. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer71. Under D/A, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer72. In collection business, dedailed instructions must be sent to the collecting bank （ B ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract73. In collection business, dedailed instructions must be given to the remitting bank （ A ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract74. In collection business, banks are obligated to verify the documents received to see that （ C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form75. The collecting bank will make a protest only when （ C ）A. the documents are rejectedB. the case of need is nominatedC. instruction to protest is given by the collection orderD. protective measures in respect of the goods are taken.76. All the parties to a collection are bound by （ C ）if the collection is subject to it.A. UCP500 600 C. URC52277. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection78. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ B ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank79. The instructions for collection are mainly （ D ）A. given in the S/CB. written on the bill of exchangeC. given by the importerD. given by the exporter80. Which type of collection offers the greatest security to the exporter （ B ）A. documents against acceptance collectionB. documents against payment collectionC. clean collectionD. documentary collection81. Which of the following is not the obligation of the remitting bank（ D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail82. Which of the following is not the obligation of the collecting bank（ B ） verify the authenticity of the collection orderB. to take care of goodsrelease documents strictly on the delivery terms of documents.perform following all the instructions given by the remitting bank.83. Case of need in collection business is the representative of （ A ）principal remitting bank collecting bank draweecollection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank85. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank86. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may be waived , charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank87. The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as ( A )A. MT400B. 410 C88. The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as ( C )A. MT400B. 410 C89. The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as ( D )A. MT400B. 410 Cprice term which is more favorable to the seller under collection is ( D ) A. EXW B. FOB C. CFR D. CIFLetter of credit91. In L/C business , the exporter can receive the payment only when __C____A. he has shipped the goodshas presented the documentsdocuments presented constitute a complying presentationimporter has taken delivery of the goods.92. The issuing bank can refuse to pay the credit amount when ____C___applicant prevents him from making paymentgoods are not the same as those stipulated in the sales contract kind of document required by L/C isn’t presented.of the applicant’s account is not enough for payment .93. Of the following kinds of L/C , __B_____is the L/C which require no drafts at all.payment creditpayment creditcreditcredit94. Of the following kinds of L/C , ( C ) is the L/C in which drafts are always required.payment creditpayment creditcreditcredit95. Of the following kinds of L/C, ____D___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.creditcreditcreditto back credit96. Of the following kinds of L/C, ___A___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditcredit97 Of the following kinds of L/C, ____C___is the L/C which is especially suitable for use to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.creditcreditcreditto back creditthe following kinds of L/C, ____B___is the L/C which is especially suitable for use to settle the payment under barter transaction.creditcreditcreditto back credit99. Confirmation of a credit may be given by BA. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation100. The credit may only be confirmed if it is so authorized or requested by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary101. The beneficiary of a transferred credit is ( C )A. the negotiating bankB. the middlemanC. the actual supplierD. the beneficiary of the transferable credit102. The second beneficiary of a transferable letter of credit is the ( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods103. The first beneficiary of a transferable letter of credit is the ( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods104. The sum of the transferred credit will normally be ( B )A. the same as in the credit before transferB. less than in the credit before transferC. more than in the credit before transferD. equal to the original credit105. The terms and conditions of the transferred credit can be different from the original credit in the following aspects, with the exception of( C ).amount of the creditunit price stated in the creditquantity stated in the creditD. the expiry date, the period for presentation, or the latest shipment date106. Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary ( D )A. the issuing bankB. the advising bankC. the beneficiaryD. the applicant107. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment108. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit109. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank110. In L/C business, documents are presented to ( D ) by the beneficiaryA. the advising bankB. the issuing bankC. the reimbursing bankD. the nominated bank111. If discrepancies found are serious, the following ways can be used by the negotiating bank to deal with them except ( A )A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor 112. According to the mode of availability L/C can be classified as ( C )A. clean L/C and documentary L/CB. confirmed L/C and unconfirmed L/CC.sight payment L/C, acceptance L/C ,deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/Call the financial methods mentioned bellow , which method provides funds without recourse CA. packing loansB. bill discountingC. forfeitingD. borrowing docs against T/Rletter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank115. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank116. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bankletter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 118. A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 25,2008, the latest date of presentation must be ( D )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 119. The message type which is used to issue letter of credit through SWIFT is numbered ( A )A. 700B. 705C. 707D. 710120. The message type which is used to send a amendment to a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 710121. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit122. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication Publication No. 758123. Among the following items, the one which is not required to be included in a drawn clause of a draft under letter of credit is ( A ) A. the S/C No B. the L/C NoC. the name of issuing bankD. the issuing date of the credit124. Among the following banks , the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank125. The expression "on or about" or similar will be interpreted as a stipulation that an event is to occur during a period of ( B ) the specified date, both start and end dates included.calendar days before until three calendar days afterB. five calendar days before until five calendar days afterC. seven calendar days before until seven calendar days afterD. eleven calendar days before until eleven calendar days after126. If letter of credit specifies the latest date of shipment is on or about May 10, then the actual shipping date should be within ( D ), both start and end dates included,A. May 6-15B. May5-14C. May6-14D. May5—15127. If a bill which is drawn on Dec. 1,2008 specifies the tenor as payable at 30 days after date, the due date of the bill should be ( C ) A. Dec. 29. 2008 B. Dec.. 30,2008 C. Dec. 31, 2008 D. Jan. 1, 2008 128. If a bill which is accepted on Nov. 1,2008 specifies the tenor as payable at 30 days after sight, the due date of the bill should be ( C ) A. Nov. 29. 2008 B. Nov. 30,2008 C. Dec. 1, 2008 D. Dec. 2, 2008Documents129. Short form B/L is considered to be ( A ).of titledocumentinvoice130. Unless otherwise stipulated , banks will not accept ( D )B/LB/LC. liner B/Lfor shipment B/L131. Unless otherwise stipulated , banks will not accept ( D )B/LB/LC. clean B/Lparty B/L132. Unless otherwise stipulated , banks will not accept ( D )B/LB/LC. clean B/Ldeck B/L133. Unless otherwise stipulated , banks will not accept ( C )B/LB/LC. unclean B/LB/L134. If a credit calls for an insurance policy, banks will accept ( A ) A. an insurance policy B. an insurance certificateC. a or bD. both a and b135. Commercial invoice must be made out in the name of ( B )beneficiary applicantbank bank136. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document 137. Freight to collect B/L is suitable for use under (D )A. CFR D. FOB138. Freight prepaid B/L is suitable for use under ( A )A. CFR D. FOB139. The drawee of a draft drawn under letter of credit may be ( C ) A. the beneficiary B. the applicantC. the issuing bankD. the negotiating bank140. The drawer of a draft drawn under letter of credit may be ( A ) A. the beneficiary B. the applicant C. the issuing bank D. the negotiating bank141. Among the following marine cargo transport risks, the one which can not be insured alone is ( B )A. All RisksB. War RisksC. FPA142. Basic risks refer to the following kinds except（ C ）A、FPAB、WAC、War RisksD、All Risks143. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .carriershippernotify partynominated bankthere is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100% % C. 110% %。

1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3. Which of the following payment method is based on commercial credit?( C )A.letter of creditB.bank guaranteeC. collectionD. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A. importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7. CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBPC.EURD.JPY9. TARGET is the electronic clearing system for ( C )A. USDB. GBPC.EURD.JPY10. CHATS is the electronic clearing system for ( D )A. USDB. GBPC.EURD.HKD11. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current accountD.a home currency account12. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account13. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB.s supplyC. security investmentD. investment incomes14. Documentary credit business is subject to ( A )A. UCP600B.URC522C. URDG758D. ISP9815. Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9816. Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9817.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9818. London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD19. New York is the clearing centre for ( A )A. USDB. GBPC.EURD.HKD20. Tokyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY21. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD22.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement23. The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXW24.（ A ） cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing25. The effect of a blank endorsement is to make a negotiable instrument payable to the （ C ）A. specified person B, order of a specified person C. bearer D. named person26. If the bill is payable “60 days after date”, the date of payment is decided according to （ C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity27. The party to whom the bill is addressed is called the（ B ）A. drawerB. draweeC. holderD. payee28. When financing is without recourse, this means that the bank has no recourse to the （ D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer29. The（ C ） of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor30. The bill which must be presented for acceptance is （ B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank32.（ C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer33. Which of the following is a relative essential item of a bill ?（ B ）A. amountB. tenorC. payeeD. drawee34. An endorsement ,which prohibits the further negotiation of the instrument ,is called （ D ）endorsement .A. qualifiedB. generalC. specificD. restrictive35. A check is a （ D ）draft drawn on a bankA. timeanceC. directD. demand36. The act which is never involved in promissory note business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation37. The act which is never involved in check business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation38. The acceptor of a bill is the person who originally named as ( B )of the bill.A. drawerB. draweeC.payeeD.endorser39. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of China41. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures42. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures43. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D44. Open account as a payment method is usually used when （ D ）A.goods are sold under the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition45. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks46. If the reimbursement instruction written on the payment order isexpressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks47. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks48. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks49. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions50. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer51. Under D/A, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer52. In collection business, banks are obligated to check the documentsreceived to see that （ C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form53. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection54. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank55. Which of the following is not the obligation of remitting bank in collection ?（ D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail56. Which of the following is not the obligation of the collecting bank?（ B ）A.to verify the authenticity of the collection orderB. to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.57.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank58. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank59. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presentingbank60.The price term which is more favorable to the seller under collectionis ( D )A. EXWB. FOBC. CFRD. CIF61. In L/C business , the exporter can receive the payment only when ( C )A. he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.62. In L/C business, the issuing bank can refuse to pay the credit amount when ( C )A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.balance of the applicant’s account is not enough for payment .63. Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit64. Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit65. Of the following kinds of L/C, ( D ) is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit66. Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditD.confirmed credit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit68.Of the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit69. Confirmation of a credit may be given by ( B )A. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation70. The credit may only be confirmed if it is so authorized or allowed by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary71. The second beneficiary of a transferable letter of credit is the( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods72. The first beneficiary of a transferable letter of credit is the( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods73. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment74. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit75. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank76. The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 71077.Among all the financial methods mentioned bellow , which method provides funds without recourse ？ ( C )A. packing loansB. bill discountingC. forfaitingD. borrowing docs against T/R78.Under letter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank79. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank80. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank81.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100%B.105%C. 110%D.120%83. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit84. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 75885. Among the following banks, the one who has no obligation to examinedocuments under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank86.The following are the financing methods which can be used by the seller in L/C business except ( D )A. negotiating the documentary draft to his bankA.applying for packing loans from his bankB.discounting the time draft already accepted by the drawee bankD. Borrowing docs from issuing bank against T/R87.The following are the financing methods which can be used by the buyer in L/C business except ( D )A.applying for issuing L/C with no margin requirement.B.borrowing docs from issuing bank against T/RC.taking the goods from shipping company against indemnity guarantee signed by the issuing bank.D.applying for packing loans from his bank88. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document89. The drawee of a draft drawn under letter of credit may be ( C )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank90. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .A. the carrierB. the shipperC. the notify partyD. the nominated bank。

Introduction1.To the exporter,the fastest and safest method of settlement is(B)A.letter of creditB.cash in advanceC.open accountD.banker’s draft2.To the importer,the most favorable method of settlement is(C)A.letter of creditB.cash in advanceC.open accountD.collection3.Which of the following payment method is based on commercial credit?(C)A.letter of creditB.banker’s letter of guaranteeC.collectionD.standby credit4.An exporter sells goods to a customer abroad on FOB and on CIF terms,who is responsible for the freight charges in each?(A)A.importer;exporterB.exporter;importerC.importer;importerD.exporter;exporter5.International cash settlement has the following disadvantages except(B)A.expensiveB.safeC.riskyD.time-consuming6.CHIPS is the electronic clearing system for(B)A.GBPDYD.EUR7.CHAPS is the electronic clearing system for(A)A.GBPDYD.EUR8.From a Chinese bank’s point of view,the current account it maintains abroad is known as(A)A.a nostro accountB.a vostro accountC.a current accountD.a home currency account9.From a Chinese bank’s point of view,the current account maintained by a foreign bank with him is known as（B）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account10.International trade settlement methods are used to complete the money transfer aroused by(A)A.goods transactionsB.services supplyC.current transfersD.investment incomes11.Documentary credit business is subject to(A)A.UCP600B.URC522C.URDG758D.ISP9812.Collection business is subject to(B)A.UCP600B.URC522C.URDG758D.ISP9813.Standby credit business is subject to(D)A.UCP600B.URC522C.URDG758D.ISP9814.Letter of guarantee business is subject to(C)A.UCP600B.URC522C.URDG758D.ISP9815.London is the clearing centre for(B)DB.GBPC.EURD.HKD16.New York is the clearing centre for(A)DB.GBPC.EURD.HKD17.Tokyo is the clearing centre for(D)DB.GBPC.EURD.JPY18.Frankfurt is the clearing centre for(C)DB.GBPC.EURD.HKD19.There are totally ten categories of message types in SWIFT system,among which(A)are used only todeal with remittance business.A.category1B.category2C.category4D.category720.There are totally ten categories of message types in SWIFT system,among which(C)are used only to deal with collection business.A.category1B.category2C.category4D.category721.There are totally ten categories of message types in SWIFT system,among which(D)are used to deal with letter of credit business.A.category1B.category3C.category4D.category722.BOJ-NET is the electronic clearing system for(D)DB.GBPC.EURD.JPY23.TARGET is the electronic clearing system for(C)DB.GBPC.EURD.JPY24.CHATS is the electronic clearing system for(D)DB.GBPC.EURD.HKD25.Among the following documents,the one which is not regarded as control documents is(D)A.authorized signaturesB.test keysC.schedule of terms and conditionsD.correspondent arrangement26.The seller should arrange for the insurance of the goods transportation under(C)A.FOBB.CFRC.CIFD.EXWNegotiable instruments27.A cheque must be signed by（A）A.the drawer B the drawee C.the payer D.the payee28.If a cheque dated1st Feb.2007was presented on（D）,it would be post-dated.A.1st Mar.2007B.2nd May2007C.1st Feb.2008D.5th Jan.200729.（A）cheque can be cashed over the counter of paying bank.A.An openB.A crossedC.A general crossingD.A special crossing30.The effect of a blank endorsement is to make the cheque payable to the（C）A.specified person B,order of a specified person C.bearer d person31.The role of the（A）bank is to debit the cheque to the customer’s account.A.paying B,collecting C.advising D.confirming32.If the bill is payable“60days after date”,the date of payment is decided according to（C）A.the date of acceptanceB.the date of presentationC.the date of issuanceD.the date of maturity33.A（B）carries comparatively little risks and can be discounted at the finest rate of interest.A.sight billB.bank billC.time billmercial bill34.A term bill may be accepted by the（B）A.drawerB.draweeC.holderD.payee35.The party to whom the bill is addressed is called the（B）A.drawerB.draweeC.holderD.payee36.When financing is without recourse,this means that the bank has no recourse to the（D）if such drafts are dishonored.A.payerB.draweeC.acceptorD.drawer37.The（C）of a promissory note assumes the prime liability to make payment of the note.A.holderB.draweeC.makerD.acceptor38.The bill which must be presented for acceptance is（B）A.the bill payable at xx days after dateB.the bill payable xx days after sightC.the bill payable on a fixed dateD.the bill payable at sight39.In order to retain the liabilities of the other parties,a bill that has been dishonored must be（A）A.protestedB.given to the acceptorC.retained in the filesD.presented to a bank40.（C）is not a holder of a billA.PayeeB.EndorseeC.DrawerD.Bearer41.Which of the following is a relative essential item of a bill?（B）A.amountB.tenorC.payeeD.drawee42.An endorsement,which prohibits the further negotiation of the instrument,is called（D）endorsement.A.qualifiedB.generalC.specificD.restrictive43.A check is a（D）draft drawn on a bankA.timeanceC.directD.demand44.An acceptance with“payable on delivery of bill of lading”on the draft is（D）A.general acceptanceB.partial acceptanceC.non-acceptanceD.qualified acceptance45.The（B）of the draft is the person who is instructed to make the payment.A.drawerB.draweeC.payerD.payee46.The act which is never involved in promissory note business is（C）A.endorsementB.dishonorC.acceptanceD.presentation47.The act which is never involved in check business is（C）A.endorsementB.dishonorC.acceptanceD.presentation48.The draft with the tenor written as(B)must be presented for acceptance.A.payable at sightB.payable at30days after sightC.payable at30days after dateD.payable at30days after shipment date49.The endorsement which has no intention to transfer the ownership of the instrument is(D)A.blank endorsementB.special endorsementC.conditional endorsementD.endorsement for collection50.Among the following persons,the one who has the right to endorse negotiable instruments is(D)A.drawerB.draweeC.endorserD.holder51.The person who has the right of recourse is the(C)of the negotiable instruments.A.drawerB.draweeC.holderD.acceptor52.The acceptor of a bill is the person who originally named as(B)of the bill.A.drawerB.draweeC.payeeD.endorser53.The first endorser of a bill is the(C)of the billA.drawerB.draweeC.payeeD.acceptor54.The first holder of a bill is the(C)of the billA.drawerB.draweeC.payeeD.acceptor55.Among the following crossed cheques,the one which contains the words(D)is a special crossed cheque.A.bankerB.not negotiableC.A/C payeeD.Bank of ChinaRemittance56.The means of authenticating payment order in mail transfer is the（D）A.SWIFT authentic keyB.schedule of terms and conditionsC.test keyD.authorized signatures57.The means of authenticating payment order in telegraphic transfer is the（C）A.correspondent arrangementB.schedule of terms and conditionsC.test keyD.authorized signatures58.Which of the following is not a method of remittance?（C）A.M/TB.T/TC.T/RD.D/D59.Open account as a payment method is usually used when（D）A.goods are sold under the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition60.In remittance business,the remitting bank may send the payment order to the paying bank through SWIFT by(A)A.MT103B.MT202C.MT400D.MT70061.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have credited your A/C with us’,the A/C relationship between the remitting bank and the paying bank must be(A)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks62.If the reimbursement instruction written on the payment order is expressed as‘in cover,please debit ourA/C with you’,the A/C relationship between the remitting bank and the paying bank must be(B)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks63.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have authorized Bank A to debit our A/C and credit your A/C with them’,the A/C relationship between the remitting bank and the paying bank must be(C)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks64.If the reimbursement instruction written on the payment order is expressed as‘in cover,we have instructed Bank X to transfer the proceeds to your A/C with bank Y’,the A/C relationship between the remitting bank and the paying bank must be(D)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks65.In remittance business,if the paying bank maintains an A/C with remitting bank,the reimbursement instruction should be given as(A)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank66.In remittance business,if the remitting bank maintains an A/C with paying bank,the reimbursement instruction should be given as(B)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank67.In remittance business,if both remitting bank and paying bank maintain their A/Cs with a third bank,the reimbursement instruction should be given as(C)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bank68.In remittance business,if remitting bank and paying bank have their A/Cs with two different banks,the reimbursement instruction should be given as(D)A.in cover,we have credited your A/C with usB.in cover,please debit our A/C with youC.in cover,we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover,we have instructed A bank to pay the proceeds to your A/C with B bankCollection69.It will be more convenient if the collecting bank appointed by the seller（B）A.is a large bankB.is the remitting bank’s correspondent in the place of the importerC.is in the exporter’s countryD.acts on the importer’s instructions70.Under D/P,the documents will not be delivered to the buyer until（D）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is paid by the buyer71.Under D/A,the documents will not be delivered to the buyer until（D）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is accepted by the buyer72.In collection business,dedailed instructions must be sent to the collecting bank（B）A.in the application formB in the collection orderC.in the documentsD.in the sales contract73.In collection business,dedailed instructions must be given to the remitting bank（A）A.in the application formB in the collection orderC.in the documentsD.in the sales contract74.In collection business,banks are obligated to verify the documents received to see that（C）A.they are authenticB.they are regularC.they are the same as those listed in the collection instructionD.they are in the right form75.The collecting bank will make a protest only when（C）A.the documents are rejectedB.the case of need is nominatedC.instruction to protest is given by the collection orderD.protective measures in respect of the goods are taken.76.All the parties to a collection are bound by（C）if the collection is subject to it.A.UCP500B.UCP600C.URC522D.URDG75877.A bill of exchange which is accompanied by shipping documents is known as（B）A.a clean billB.a documentary billC.a clean collectionD.a documentary collection78.In documentary collection,after the goods have been shipped,the exporter presents the documents to （B）for collectionA.the collecting bankB.the reimbursing bankC.the remitting bankD.the opening bank79.The instructions for collection are mainly（D）A.given in the S/CB.written on the bill of exchangeC.given by the importerD.given by the exporter80.Which type of collection offers the greatest security to the exporter?（B）A.documents against acceptance collectionB.documents against payment collectionC.clean collectionD.documentary collection81.Which of the following is not the obligation of the remitting bank?（D）A.to complete a collection order strictly according to the principal’s instructions.B.to perform following all the instructions given by the principal.C.to keep the documents wellD.to examine the contents of documents in detail82.Which of the following is not the obligation of the collecting bank?（B）A.to verify the authenticity of the collection orderB.to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.83.Case of need in collection business is the representative of（A）A.the principalB.the remitting bankC.the collecting bankD.the drawee84.In collection business,the drawer of the draft for collection is(A)A.sellerB.buyerC.remitting bankD.collecting bank85.In collection business,the drawee of the draft for collection is(B)A.sellerB.buyerC.remitting bankD.collecting bank86.If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may be waived,charges will be for the account of(A) providing the drawee refuses to pay them.A.principalB.remitting bankC.collecting bankD.presenting bank87.The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as(A)A.MT400B.MT410C.MT412D.MT41688.The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as(C)A.MT400B.MT410C.MT412D.MT41689.The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as(D)A.MT400B.MT410C.MT412D.MT41690.The price term which is more favorable to the seller under collection is(D)A.EXWB.FOBC.CFRD.CIFLetter of credit91.In L/C business,the exporter can receive the payment only when__C____A.he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.92.The issuing bank can refuse to pay the credit amount when____C___A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.balance of the applicant’s account is not enough for payment.93.Of the following kinds of L/C,__B_____is the L/C which require no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit94.Of the following kinds of L/C,(C)is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit95.Of the following kinds of L/C,____D___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit96.Of the following kinds of L/C,___A___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.transferable creditB.reciprocal creditC.revolving creditD.confirmed credit97Of the following kinds of L/C,____C___is the L/C which is especially suitable for use to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit98.Of the following kinds of L/C,____B___is the L/C which is especially suitable for use to settle the payment under barter transaction.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit99.Confirmation of a credit may be given by BA.the beneficiary at the request of the importerB.the advising bank at the request of the issuing bankC.the advising bank after the receipt of correct documentationD.the issuing bank after the receipt of correct documentation100.The credit may only be confirmed if it is so authorized or requested by(A)A.the issuing bankB.the supplierC.the advising bankD.the beneficiary101.The beneficiary of a transferred credit is(C)A.the negotiating bankB.the middlemanC.the actual supplierD.the beneficiary of the transferable credit102.The second beneficiary of a transferable letter of credit is the(D)A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods103.The first beneficiary of a transferable letter of credit is the(A)A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods104.The sum of the transferred credit will normally be(B)A.the same as in the credit before transferB.less than in the credit before transferC.more than in the credit before transferD.equal to the original credit105.The terms and conditions of the transferred credit can be different from the original credit in the following aspects,with the exception of(C).A.the amount of the creditB.any unit price stated in the creditC.any quantity stated in the creditD.the expiry date,the period for presentation,or the latest shipment date106.Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary?(D)A.the issuing bankB.the advising bankC.the beneficiaryD.the applicant107.The red clause credit is often used as a method of(B)A.providing the buyer with funds prior to shipmentB.providing the seller with funds prior to shipmentC.providing the buyer with funds after shipmentD.providing the seller with funds after shipment108.An applicant must reimburse an issuing bank unless he finds that(D)A.goods are defectiveB.goods are not as ordered in the sales contractC.documents received do not allow him to clear the goods through customsD.documents do not conform on the face to the terms and conditions of the credit109.Application for any amendment to a letter of credit should be given to the issuing bank by (A)A.the applicantB.the beneficiaryC.the advising bankD.the nominated bank110.In L/C business,documents are presented to(D)by the beneficiaryA.the advising bankB.the issuing bankC.the reimbursing bankD.the nominated bank111.If discrepancies found are serious,the following ways can be used by the negotiating bank to deal with them except(A)A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor112.According to the mode of availability L/C can be classified as(C)A.clean L/C and documentary L/CB.confirmed L/C and unconfirmed L/CC.sight payment L/C,acceptance L/C,deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/C113.Among all the financial methods mentioned bellow,which method provides funds without recourse？CA.packing loansB.bill discountingC.forfeitingD.borrowing docs against T/R114.Under letter of credit,the primary debtor is the(C)A.applicantB.importerC.issuing bankD.nominated bank115.The applicant of letter of credit is(B)A.the exporterB.the importerC.the exporter’s bankD.the importer’s bank116.The beneficiary of letter of credit is(A)A.the exporterB.the importerC.the exporter’s bankD.the importer’s bank117.A letter of credit which is expired on Oct.1,2008specifies that“documents must be presented within15days after the on board date of bill of lading”.If the on board date of bill of lading is Sep.10,2008,the latest date of presentation must be(B)A.Sep.24,2008B.Sep.25,2008C.Sep.26,2008D.Oct.1,2008118.A letter of credit which is expired on Oct.1,2008specifies that“documents must be presented within15days after the on board date of bill of lading”.If the on board date of bill of lading is Sep.25,2008,the latest date of presentation must be(D)A.Sep.24,2008B.Sep.25,2008C.Sep.26,2008D.Oct.1,2008119.The message type which is used to issue letter of credit through SWIFT is numbered (A)A.700B.705C.707D.710120.The message type which is used to send a amendment to a documentary credit through SWIFT is numbered(C)A.700B.705C.707D.710121.Which of the following actions performed by the nominated bank is not regard as the action of honor(D)A.to pay at sight under sight payment creditB.to incur a deferred payment undertaking and pay at maturity under deferredpayment creditC.to accept the draft and pay at maturity under acceptance creditD.to negotiate under negotiation creditplying presentation under letter of credit means a presentation that is in accordancewith the terms and conditions of credit,the applicable rules of UCP and provisions of(B) A.ISP98 B.ISBP681C.ICC Publication No.522D.ICC Publication No.758123.Among the following items,the one which is not required to be included in a drawn clause of a draft under letter of credit is(A)A.the S/C NoB.the L/C NoC.the name of issuing bankD.the issuing date of the credit124.Among the following banks,the one who has no obligation to examine documents under letter of credit is(C)A.the issuing bankB.the confirming bankC.the reimbursing bankD.the nominated bank125.The expression"on or about"or similar will be interpreted as a stipulation that an event is to occur during a period of(B)the specified date,both start and end dates included.A.three calendar days before until three calendar days afterB.five calendar days before until five calendar days afterC.seven calendar days before until seven calendar days afterD.eleven calendar days before until eleven calendar days after126.If letter of credit specifies the latest date of shipment is on or about May10,then the actual shipping date should be within(D),both start and end dates included,A.May6-15B.May5-14C.May6-14D.May5—15127.If a bill which is drawn on Dec.1,2008specifies the tenor as payable at30days after date, the due date of the bill should be(C)A.Dec.29.2008B.Dec..30,2008C.Dec.31,2008D.Jan.1,2008128.If a bill which is accepted on Nov.1,2008specifies the tenor as payable at30days after sight,the due date of the bill should be(C)A.Nov.29.2008B.Nov.30,2008C.Dec.1,2008D.Dec.2,2008 Documents129.Short form B/L is considered to be(A).A.document of titleB.additional documentC.non-negotiablemercial invoice130.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.liner B/LD.received for shipment B/L131.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.clean B/LD.charter party B/L132.Unless otherwise stipulated,banks will not accept(D)A.direct B/LB.order B/LC.clean B/LD.on deck B/L133.Unless otherwise stipulated,banks will not accept(C)A.direct B/LB.order B/LC.unclean B/LD.liner B/L134.If a credit calls for an insurance policy,banks will accept(A)A.an insurance policyB.an insurance certificateC.a or bD.both a and bmercial invoice must be made out in the name of(B)A.the beneficiaryB.the applicantC.advising bankD.issuing bank136.A bill of lading doesn't function as(D)A.a contract of transportationB.a receipt of goodsC a certificate of title to the goods D.an accounting document137.Freight to collect B/L is suitable for use under(D)A.CFRB.CIFC.DDUD.FOB138.Freight prepaid B/L is suitable for use under(A)A.CFRB.EXWC.FCAD.FOB139.The drawee of a draft drawn under letter of credit may be(C)A.the beneficiaryB.the applicantC.the issuing bankD.the negotiating bank140.The drawer of a draft drawn under letter of credit may be(A)A.the beneficiaryB.the applicantC.the issuing bankD.the negotiating bank 141.Among the following marine cargo transport risks,the one which can not be insured alone is (B)A.All RisksB.War RisksC.FPAD.WPA142.Basic risks refer to the following kinds except（C）A、FPAB、WAC、War RisksD、All Risks143.If the bill of lading is made out to order,it must be endorsed by（B）so as to complete the transfer of the title to the goods.A.the carrierB.the shipperC.the notify partyD.the nominated bank144.If there is no indication in the credit of the insurance coverage required,the amount of insurance coverage must be at least(C)of the CIF or CIP value of the goods.A.100%B.105%C.110%D.120%。

1.To the exporter, the fastest and safest method of settlement is ( B )A.letter of creditB. cash in advanceC. open accountD. banker’s draft2.To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3.Which of the following payment method is based on commercial credit?( C )A.letter of creditB.bank guaranteeC. collectionD. standby credit4.An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A.importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5.International cash settlement has the following disadvantages except ( B )A.expensiveB. safeC. riskyD. time-consuming6.CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7.CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8.BOJ-NET is the electronic clearing system for ( D )DB. GBPC.EURD.JPY9.TARGET is the electronic clearing system for ( C )DB. GBPC.EURD.JPY10.CHATS is the electronic clearing system for ( D )DB. GBPC.EURD.HKD11.From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A.a nostro accountB. a vostro accountC. a current accountD.a home currency account12.From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account13.International trade settlement methods are used to complete the money transfer aroused by ( A)A.goods transactionsB. services supplyC. security investmentD. investment incomes14.Documentary credit business is subject to ( A )A.UCP600B.URC522C. URDG758D. ISP9815.Collection business is subject to ( B )A.UCP600B.URC522C. URDG758D. ISP9816.Standby credit business is subject to ( D )A.UCP600B.URC522C. URDG758D. ISP9817.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9818.London is the clearing centre for ( B )DB. GBPC.EURD.HKD19.New York is the clearing centre for ( A )DB. GBPC.EURD.HKD20.Tokyo is the clearing centre for ( D )DB. GBPC.EURD.JPY21.Frankfurt is the clearing centre for ( C )DB. GBPC.EURD.HKD22.Among the following documents, the one which is not regarded as control documents is ( D )A.authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement23.The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXW24.（ A ）cheque can be cashed over the counter of paying bank.A.An openB. A crossedC. A general crossingD. A special crossing25.The effect of a blank endorsement is to make a negotiable instrument payable to the （C ）A.specified person B, order of a specified person C. bearer D. named person26.If the bill is payable “60 days after date”, the date of payment is decided according to （C ）A.the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity27.The party to whom the bill is addressed is called the（B ）A.drawerB. draweeC. holderD. payee28.When financing is without recourse, this means that the bank has no recourse to the （D ）if such drafts are dishonored.A.payerB. draweeC. acceptorD. drawer29.The（C ）of a promissory note assumes the prime liability to make payment of the note.A.holderB. draweeC. makerD. acceptor30.The bill which must be presented for acceptance is （B ）A.the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight31.In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A.protestedB. given to the acceptorC. retained in the filesD. presented to a bank32.（C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer33.Which of the following is a relative essential item of a bill ?（B ）A.amountB. tenorC. payeeD. drawee34.An endorsement ,which prohibits the further negotiation of the instrument ,is called （D ）endorsement .A.qualifiedB. generalC. specificD. restrictive35.A check is a （D ）draft drawn on a bankA.timeanceC. directD. demand36.The act which is never involved in promissory note business is （ C ）A.e ndorsementB.dishonorC.acceptanceD.presentation37.The act which is never involved in check business is （ C ）A.e ndorsementB.dishonorC.acceptanceD.presentation38.The acceptor of a bill is the person who originally named as ( B ) of the bill.A.drawerB. draweeC.payeeD.endorser39.The first holder of a bill is the ( C ) of the billA.drawerB. draweeC.payeeD.acceptor40.Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A.bankerB. not negotiableC. A/C payeeD. Bank of China41.The means of authenticating payment order in mail transfer is the （ D ）A.SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures42.The means of authenticating payment order in telegraphic transfer is the（ C ）A.correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures43.Which of the following is not a method of remittance? （ C ）A.M/TB. T/TC. T/RD. D/D44.Open account as a payment method is usually used when （ D ）A.g oods are sold under the seller’s market conditionB.g oods are badly needed by the buyerC.g oods are of special standards or special specificationsD.g oods are sold under the buyer’s market condition45.If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks46.If the reimbursement instruction written on the payme nt order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks47.If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be(C)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks48.If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be (D)A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks49.It will be more convenient if the collecting bank appointed by the seller （B ）A.is a large bankB.is the remitting bank’s correspondent in the place of the importerC.is in the exporter’s countryD.acts on the importer’s instructions50.Under D/P, the documents will not be delivered to the buyer until （ D ）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is paid by the buyer51.Under D/A, the documents will not be delivered to the buyer until （D ）A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is accepted by the buyer52.In collection business, banks are obligated to check the documents received to see that （C ）A.they are authenticB.they are regularC.they are the same as those listed in the collection instructionD.they are in the right form53.A bill of exchange which is accompanied by shipping documents is known as （B ）A.a clean billB.a documentary billC.a clean collectionD.a documentary collection54.In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collectionA.the collecting bankB.the reimbursing bankC.the remitting bankD.the opening bank55.Which of the following is not the obligation of remitting bank in collection ?（D ）A.to complete a collection order strictly according to the principal’s instructions.B.to perform following all the instructions given by the principal.C.to keep the documents wellD.to examine the contents of documents in detail56.Which of the following is not the obligation of the collecting bank?（B ）A.t o verify the authenticity of the collection orderB.to take care of goodsC.t o release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.57.In collection business, the drawer of the draft for collection is ( A )A.sellerB. buyerC. remitting bankD. collecting bank58.In collection business, the drawee of the draft for collection is ( B )A.sellerB. buyerC. remitting bankD. collecting bank59.If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.A.principalB. remitting bankC. collecting bankD. presenting bank60.The price term which is more favorable to the seller under collection is ( D )A.EXWB. FOBC. CFRD. CIF61.In L/C business , the exporter can receive the payment only when ( C )A.he has shipped the goodsB.h e has presented the documentsC.t he documents presented constitute a complying presentationD.t he importer has taken delivery of the goods.62.In L/C business, the issuing bank can refuse to pay the credit amount when ( C )A.the applicant prevents him from making paymentB.t he goods are not the same as those stipulated in the sales contractC.o ne kind of document required by L/C isn’t presented.D.b alance of the applicant’s account is not enough for payment .63.Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit64.Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.A.s ight payment creditB.d eferred payment creditC.acceptance creditD.negotiation credit65.Of the following kinds of L/C, ( D ) is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.n on-transferable creditB.reciprocal creditC.revolving creditD.back to back credit66.Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.transferable creditB.reciprocal creditC.revolving creditD.confirmed credit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit68.Of the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit69.Confirmation of a credit may be given by ( B )A.the beneficiary at the request of the importerB.the advising bank at the request of the issuing bankC.the advising bank after the receipt of correct documentationD.the issuing bank after the receipt of correct documentation70.The credit may only be confirmed if it is so authorized or allowed by ( A )A.the issuing bankB.the supplierC.the advising bankD.the beneficiary71.The second beneficiary of a transferable letter of credit is the ( D )A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods72.The first beneficiary of a transferable letter of credit is the ( A )A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods73.The red clause credit is often used as a method of ( B )A.providing the buyer with funds prior to shipmentB.providing the seller with funds prior to shipmentC.providing the buyer with funds after shipmentD.providing the seller with funds after shipment74.An applicant must reimburse an issuing bank unless he finds that ( D )A.goods are defectiveB.goods are not as ordered in the sales contractC.documents received do not allow him to clear the goods through customsD.documents do not conform on the face to the terms and conditions of the credit75.Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A.the applicantB.the beneficiaryC.the advising bankD.the nominated bank76.The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 71077.Among all the financial methods mentioned bellow , which method provides funds without recourse ？( C )A.packing loansB.bill discountingC.forfaitingD.borrowing docs against T/R78.Under letter of credit, the primary debtor is the( C )A.applicantB. importerC. issuing bankD. nominated bank79.The applicant of letter of credit is ( B )A.the exporterB. the importerC. the exporter’s bankD. the importer’s bank80.The beneficiary of letter of credit is ( A )A.the exporterB. the importerC. the exporter’s bankD. the importer’s bank81.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882.If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100%B.105%C. 110%D.120%83.Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A.to pay at sight under sight payment creditB.to incur a deferred payment undertaking and pay at maturity under deferred payment creditC.to accept the draft and pay at maturity under acceptance creditD.to negotiate under negotiation creditplying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A.ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 75885.Among the following banks, the one who has no obligation to examine documents under letter of credit is ( C )A.the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank86.The following are the financing methods which can be used by the seller in L/C business except ( D )A.negotiating the documentary draft to his bankA.applying for packing loans from his bankB.discounting the time draft already accepted by the drawee bankD. Borrowing docs from issuing bank against T/R87.The following are the financing methods which can be used by the buyer in L/C business except ( D )A.a pplying for issuing L/C with no margin requirement.B.borrowing docs from issuing bank against T/RC.taking the goods from shipping company against indemnity guarantee signed by the issuing bank.D.applying for packing loans from his bank88.A bill of lading doesn't function as ( D )A.a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document89.The drawee of a draft drawn under letter of credit may be ( C )A.the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank90.If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .A.the carrierB.the shipperC.the notify partyD.the nominated bank。

国际结算英语试题及答案一、选择题（每题2分，共20分）1. What is the most common type of documentary credit used in international trade?A. Documentary credit at sightB. Usance documentary creditC. Standby documentary creditD. Revolving documentary credit答案：B2. In international settlements, which of the following is not considered a method of payment?A. Letter of creditB. RemittanceC. CollectionD. Barter答案：D3. What does the term "D/P" stand for in international trade?A. Document against paymentB. Document against acceptanceC. Direct paymentD. Deferred payment答案：A4. Which of the following is a risk associated with documentary collections?A. Political riskB. Credit riskC. Exchange rate riskD. All of the above答案：B5. The term "usance" in the context of a usance documentary credit refers to:A. The time it takes for the documents to be presentedB. The time it takes for the payment to be madeC. The time it takes for the goods to be shippedD. The time it takes for the goods to be received答案：B6. What is the primary purpose of a documentary credit?A. To guarantee paymentB. To facilitate the transfer of documentsC. To provide a means of exchangeD. To finance the purchase of goods答案：A7. In international trade, what does "L/C" stand for?A. Letter of creditB. Letter of guaranteeC. Letter of indemnityD. Letter of intent答案：A8. Which of the following is not a document typically required in a documentary credit transaction?A. Commercial invoiceB. Bill of ladingC. Certificate of originD. Personal identification答案：D9. What is the meaning of "at sight" in the context of a documentary credit?A. Payment is made immediately upon presentation of documentsB. Payment is made after a specified periodC. Payment is made at the discretion of the bankD. Payment is made at the time of shipment答案：A10. Which of the following is a form of open account trade?A. Advance paymentB. ConsignmentC. CountertradeD. All of the above答案：A二、填空题（每题1分，共10分）11. The term "clean bill of exchange" refers to a bill of exchange that is _________.答案：unsecured12. The _________ is a document that provides evidence of the terms of a contract for the sale of goods.答案：sales contract13. In international trade, the term "forfaiting" refers to the sale of _________ at a discount.答案：usance bills of exchange14. The _________ is a document that certifies the quality, quantity, and description of the goods being shipped.答案：certificate of inspection15. A _________ is a type of documentary credit that can be drawn more than once within a specified period.答案：revolving documentary credit16. The _________ is a document that provides evidence of the insurance of goods during transit.答案：insurance policy17. The term "acceptance" in the context of a bill of exchange means that the _________ has agreed to pay the amount stated at a future date.答案：drawee18. The _________ is a document that provides evidence of the origin of the goods being shipped.答案：certificate of origin19. A _________ is a type of documentary credit that isissued by a bank at the request of the importer.答案: usance documentary credit20. The term "back-to-back" documentary credit refers to a situation where one documentary credit is _________ on the basis of another.答案：issued三、简答题（每题5分，共30分）21. Explain the difference between a documentary collection and a documentary credit.答案：A documentary collection involves the transfer of documents against payment or acceptance, without a bank guaranteeing payment. A documentary credit, on the other hand, is a commitment by a bank to pay a specified amount to the beneficiary upon fulfillment of the terms and conditionsstated in the credit.22. What are the advantages of using a documentary credit in international trade?答案：The advantages of using a documentary creditinclude providing a guarantee of payment, reducing the riskfor the exporter, ensuring that the terms of the contract are met,。

Introduction1. T o the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. T o the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3. Which of the following payment method is based on commercial credit?( C )A.letter of creditB.banker’s letter of guaranteeC. collectionD. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A.importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7. CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current accountD.a home currency account9. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account10. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB. services supplyC. current transfersD. investment incomes11. Documentary credit business is subject to ( A )A. UCP600B.URC522C. URDG758D. ISP9812. Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9813. Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9814.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9815. London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD16. New York is the clearing centre for ( A )A. USDB. GBPC.EURD.HKD17. T okyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY18. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD19. There are totally ten categories of message types in SWIFT system, among which ( A ) are used only to deal with remittance business.A. category 1B. category 2C. category 4D. category 720. There are totally ten categories of message types in SWIFT system, among which ( C ) are used only to deal with collection business.A. category 1B. category 2C. category 4D. category 721. There are totally ten categories of message types in SWIFT system, among which ( D ) are used to deal with letter of credit business.A. category 1B. category 3C. category 4D. category 722. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBPC.EURD.JPY23. TARGET is the electronic clearing system for ( C )A. USDB. GBPC.EURD.JPY24. CHATS is the electronic clearing system for ( D )A. USDB. GBPC.EURD.HKD25.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement26. The seller should arrange for the insurance of the goods transportation under( C )A.FOBB.CFRC.CIFD.EXWNegotiable instruments27. A cheque must be signed by （ A ）A.the drawer B the drawee C. the payer D. the payee28. If a cheque dated 1st Feb. 2007 was presented on （D ）, it would bepost-dated.A.1st Mar. 2007B. 2nd May 2007C. 1st Feb. 2008D. 5th Jan.200729.（ A ）cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing30. The effect of a blank endorsement is to make the cheque payable to the （C ）A. specified person B, order of a specified person C. bearer D. named person31. The role of the （A ）bank is to debit the cheque to the customer’s account.A. paying B, collecting C. advising D. confirming32. If the bill is payable “60 days after date”, the date of payment is decided according to （C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity33. A （ B ）carries comparatively little risks and can be discounted at the finest rate of interest.A. sight billB. bank billC. time billD. commercial bill34. A term bill may be accepted by the （B ）A. drawerB. draweeC. holderD. payee35. The party to whom the bill is addressed is called the（B ）A. drawerB. draweeC. holderD. payee36. When financing is without recourse, this means that the bank has no recourse to the （D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer37. The（C ）of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor38. The bill which must be presented for acceptance is （B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight39. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank40.（C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer41. Which of the following is a relative essential item of a bill ?（B ）A. amountB. tenorC. payeeD. drawee42. An endorsement ,which prohibits the further negotiation of the instrument ,is called （D ）endorsement .A. qualifiedB. generalC. specificD. restrictive43. A check is a （D ）draft drawn on a bankA. timeanceC. directD. demand44. An acceptance with “payable on delivery of bill of lading”on the draft is （D ）A.general acceptanceB.partial acceptanceC.non-acceptanceD.qualified acceptance45. The （B ）of the draft is the person who is instructed to make the payment .A. drawerB. draweeC. payerD. payee46. The act which is never involved in promissory note business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation47. The act which is never involved in check business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation48. The draft with the tenor written as ( B ) must be presented for acceptance.A.payable at sightB. payable at 30days after sightC. payable at 30 days after dateD. payable at 30 days after shipment date49. The endorsement which has no intention to transfer the ownership of the instrument is ( D )A. blank endorsementB. special endorsementC. conditional endorsementD. endorsement for collection50. Among the following persons, the one who has the right to endorse negotiable instruments is ( D )A. drawerB. draweeC. endorserD. holder51. The person who has the right of recourse is the ( C )of the negotiable instruments.A. drawerB. draweeC. holderD. acceptor52. The acceptor of a bill is the person who originally named as ( B ) of the bill.A. drawerB. draweeC.payeeD.endorser53. The first endorser of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor54. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor55. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of ChinaRemittance56. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures57. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures58. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D59. Open account as a payment method is usually used when （ D ）A.goods are sold under the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition60. In remittance business ,the remitting bank may send the payment order to the paying bank through SWIFT by ( A )A. MT103B.MT202C. MT400D.MT70061. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks62.If the reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks63. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks64. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks65. In remittance business, if the paying bank maintains an A/C with remitting bank, the reimbursement instruction should be given as ( A )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank66. In remittance business, if the remitting bank maintains an A/C with paying bank, the reimbursement instruction should be given as ( B )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank67.In remittance business, if both remitting bank and paying bank maintain their A/Cs with a third bank, the reimbursement instruction should be given as ( C )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank68. In remittance business, if remitting bank and paying bank have their A/Cs with two different banks, the reimbursement instruction should be given as ( D ) A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank Collection69. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions70. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer71. Under D/A, the documents will not be delivered to the buyer until （D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer72. In collection business, dedailed instructions must be sent to the collecting bank （ B ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract73. In collection business, dedailed instructions must be given to the remitting bank （ A ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract74. In collection business, banks are obligated to verify the documents received to see that （C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form75. The collecting bank will make a protest only when （ C ）A. the documents are rejectedB. the case of need is nominatedC. instruction to protest is given by the collection orderD. protective measures in respect of the goods are taken.76. All the parties to a collection are bound by （C ）if the collection is subject to it.A. UCP500B.UCP600C. URC522D.URDG75877. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection78. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ B ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank79. The instructions for collection are mainly （D ）A. given in the S/CB. written on the bill of exchangeC. given by the importerD. given by the exporter80. Which type of collection offers the greatest security to the exporter? （ B ）A. documents against acceptance collectionB. documents against payment collectionC. clean collectionD. documentary collection81. Which of the following is not the obligation of the remitting bank?（D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail82. Which of the following is not the obligation of the collecting bank?（B ）A.to verify the authenticity of the collection orderB. to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.83. Case of need in collection business is the representative of （A ）A.the principalB.the remitting bankC.the collecting bankD.the drawee84.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank85. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank86. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they maybe waived , charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank87. The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as ( A )A. MT400B. MT410C.MT412D.MT41688. The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as ( C )A. MT400B. MT410C.MT412D.MT41689. The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as ( D )A. MT400B. MT410C.MT412D.MT41690.The price term which is more favorable to the seller under collection is ( D )A. EXWB. FOBC. CFRD. CIFLetter of credit91. In L/C business , the exporter can receive the payment only when__C____A. he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.92. The issuing bank can refuse to pay the credit amount when ____C___A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.balance of the applicant’s account is not enough for payment .93. Of the following kinds of L/C , __B_____is the L/C which require no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit94. Of the following kinds of L/C , ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit95. Of the following kinds of L/C, ____D___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit96. Of the following kinds of L/C, ___A___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditD.confirmed credit97 Of the following kinds of L/C, ____C___is the L/C which is especially suitable for use to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit98.Of the following kinds of L/C, ____B___is the L/C which is especially suitable for use to settle the payment under barter transaction.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit99. Confirmation of a credit may be given by BA. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation100. The credit may only be confirmed if it is so authorized or requested by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary101. The beneficiary of a transferred credit is ( C )A. the negotiating bankB. the middlemanC. the actual supplierD. the beneficiary of the transferable credit102. The second beneficiary of a transferable letter of credit is the ( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods103. The first beneficiary of a transferable letter of credit is the ( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods104. The sum of the transferred credit will normally be ( B )A. the same as in the credit before transferB. less than in the credit before transferC. more than in the credit before transferD. equal to the original credit105. The terms and conditions of the transferred credit can be different from the original credit in the following aspects, with the exceptionof( C ).A.the amount of the creditB.any unit price stated in the creditC.any quantity stated in the creditD. the expiry date, the period for presentation, or the latest shipment date106. Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary? ( D )A. the issuing bankB. the advising bankC. the beneficiaryD. the applicant107. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment108. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit109. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank110. In L/C business, documents are presented to ( D ) by the beneficiaryA. the advising bankB. the issuing bankC. the reimbursing bankD. the nominated bank111. If discrepancies found are serious, the following ways can be used by the negotiating bank to deal with them except ( A )A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor 112. According to the mode of availability L/C can be classified as ( C )A. clean L/C and documentary L/CB. confirmed L/C and unconfirmed L/CC.sight payment L/C, acceptance L/C ,deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/C113.Among all the financial methods mentioned bellow , which method provides funds without recourse ？ CA. packing loansB. bill discountingC. forfeitingD. borrowing docs against T/R114.Under letter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank 115. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank116. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank117.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 118. A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 25,2008, the latest date of presentation must be ( D )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 119. The message type which is used to issue letter of credit through SWIFT is numbered ( A )A. 700B. 705C. 707D. 710120. The message type which is used to send a amendment to a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 710121. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit122. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 758123. Among the following items, the one which is not required to be included in a drawn clause of a draft under letter of credit is ( A ) A. the S/C No B. the L/C NoC. the name of issuing bankD. the issuing date of the credit124. Among the following banks , the one who has no obligation toexamine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank125. The expression "on or about" or similar will be interpreted as a stipulation that an event is to occur during a period of ( B ) the specified date, both start and end dates included.A.three calendar days before until three calendar days afterB. five calendar days before until five calendar days afterC. seven calendar days before until seven calendar days afterD. eleven calendar days before until eleven calendar days after126. If letter of credit specifies the latest date of shipment is on or about May 10, then the actual shipping date should be within ( D ), both start and end dates included,A. May 6-15B. May5-14C. May6-14D. May5—15127. If a bill which is drawn on Dec. 1,2008 specifies the tenor as payable at 30 days after date, the due date of the bill should be ( C )A. Dec. 29. 2008B. Dec.. 30,2008C. Dec. 31, 2008D. Jan. 1, 2008 128. If a bill which is accepted on Nov. 1,2008 specifies the tenor as payable at 30 days after sight, the due date of the bill should be ( C ) A. Nov. 29. 2008 B. Nov. 30,2008 C. Dec. 1, 2008 D. Dec. 2, 2008Documents129. Short form B/L is considered to be ( A ).A.document of titleB.additional documentC.non-negotiablemercial invoice130. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. liner B/LD.received for shipment B/L131. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. clean B/LD.charter party B/L132. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. clean B/LD.on deck B/L133. Unless otherwise stipulated , banks will not accept ( C ) A.direct B/LB.order B/LC. unclean B/LD.liner B/L134. If a credit calls for an insurance policy, banks will accept ( A ) A. an insurance policy B. an insurance certificateC. a or bD. both a and b135. Commercial invoice must be made out in the name of ( B )A.the beneficiaryB.the applicantC.advising bankD.issuing bank136. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document 137. Freight to collect B/L is suitable for use under (D )A. CFRB.CIFC.DDUD. FOB138. Freight prepaid B/L is suitable for use under ( A )A. CFRB.EXWC.FCAD. FOB139. The drawee of a draft drawn under letter of credit may be ( C ) A. the beneficiary B. the applicantC. the issuing bankD. the negotiating bank140. The drawer of a draft drawn under letter of credit may be ( A ) A. the beneficiary B. the applicant C. the issuing bank D. the negotiating bank。

国际结算英文选择题附答案HEN system office room 【HEN16H-HENS2AHENS8Q8-HENH1688】1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )of credit B. cash in advance C. open account D. collection3. Which of the following payment method is based on commercialcredit?( C )of credit guarantee C. collection D. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A. importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )B. USD D. EUR7. CHAPS is the electronic clearing system for ( A )B. USD D. EUR8. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBP9. TARGET is the electronic clearing system for ( C )A. USDB. GBP10. CHATS is the electronic clearing system for ( D )A. USDB. GBP11. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current account home currency account12. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）nostro account vostro accountcurrent account foreign currency account13. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB. services supplyC. security investmentD. investment incomes14. Documentary credit business is subject to ( A )A. UCP600 522 C. URDG758 D. ISP9815. Collection business is subject to ( B )A. UCP600 522 C. URDG758 D. ISP9816. Standby credit business is subject to ( D )A. UCP600 522 C. URDG758 D. ISP98of guarantee business is subject to ( C )A. UCP600 522 C. URDG758 D. ISP9818. London is the clearing centre for ( B )A. USDB. GBP19. New York is the clearing centre for ( A )A. USDB. GBP20. Tokyo is the clearing centre for ( D )A. USDB. GBP21. Frankfurt is the clearing centre for ( C )A. USDB. GBPthe following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement23. The seller should arrange for the insurance of the goodstransportation under ( C )24.（ A ） cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing25. The effect of a blank endorsement is to make a negotiable instrument payable to the （ C ）A. specified person B, order of a specified person C. bearer D. named person26. If the bill is pay able “60 days after date”, the date of payment is decided according to （ C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity27. The party to whom the bill is addressed is called the（ B ）A. drawerB. draweeC. holderD. payee28. When financing is without recourse, this means that the bank has no recourse to the （ D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer29. The（ C ） of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor30. The bill which must be presented for acceptance is （ B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank32.（ C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer33. Which of the following is a relative essential item of a bill ?（ B ）A. amountB. tenorC. payeeD. drawee34. An endorsement ,which prohibits the further negotiation of the instrument ,is called （ D ）endorsement .A. qualifiedB. generalC. specificD. restrictive35. A check is a （ D ）draft drawn on a bankA. time C. direct D. demand36. The act which is never involved in promissory note business is（ C ）37. The act which is never involved in check business is （ C ）38. The acceptor of a bill is the person who originally named as ( B ) ofthe bill.A. drawerB. drawee39. The first holder of a bill is the ( C ) of the billA. drawerB. drawee40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of China41. The means of authenticating payment order in mail transfer is the（ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures42. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures43. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D44. Open account as a payment method is usually used when （ D ）are sold under the seller’s market conditionare badly needed by the buyerare of special standards or special specificationsare sold under the buyer’s market condition45. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks46. If the reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks47. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks48. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks49. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions50. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer51. Under D/A, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer52. In collection business, banks are obligated to check the documents received to see that （ C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form53. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection54. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank55. Which of the following is not the obligation of remitting bank in collection ?（ D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail56. Which of the following is not the obligation of the collecting bank?（ B ）verify the authenticity of the collection orderB. to take care of goodsrelease documents strictly on the delivery terms of documents.perform following all the instructions given by the remitting bank.collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank58. In collection business, the drawee of the draft for collection is( B )A. sellerB. buyerC. remitting bankD. collecting bank59. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank price term which is more favorable to the seller under collection is ( D )A. EXWB. FOBC. CFRD. CIF61. In L/C business , the exporter can receive the payment only when ( C )A. he has shipped the goodshas presented the documentsdocuments presented constitute a complying presentationimporter has taken delivery of the goods.62. In L/C business, the issuing bank can refuse to pay the credit amount when ( C )applicant prevents him from making paymentgoods are not the same as those stipulated in the sales contract kind of document required by L/C isn’t presented.of the applicant’s account is not enough for payment .63. Of the following kinds of L/C, ( B )is the L/C which requires nodrafts at all.payment creditpayment creditcreditcredit64. Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.payment creditpayment creditcreditcredit65. Of the following kinds of L/C, ( D ) is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.creditcreditcreditto back credit66. Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditcredit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.creditcreditcreditto back creditthe following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.creditcreditcreditto back credit69. Confirmation of a credit may be given by ( B )A. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation70. The credit may only be confirmed if it is so authorized or allowed by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary71. The second beneficiary of a transferable letter of credit is the( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods72. The first beneficiary of a transferable letter of credit is the( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods73. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment74. An applicant must reimburse an issuing bank unless he finds that( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit75. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank76. The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 710all the financial methods mentioned bellow , which method provides funds without recourse ？ ( C )A. packing loansB. bill discountingC. forfaitingD. borrowing docs against T/Rletter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank79. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank80. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bankletter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date ofbill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100% % C. 110% %83. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit84. Complying presentation under letter of credit means a presentationthat is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication Publication No. 75885. Among the following banks, the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bankfollowing are the financing methods which can be used by the seller inL/C business except ( D )A. negotiating the documentary draft to his bankA.applying for packing loans from his bankB.discounting the time draft already accepted by the drawee bankD. Borrowing docs from issuing bank against T/Rfollowing are the financing methods which can be used by the buyer in L/C business except ( D )for issuing L/C with no margin requirement.docs from issuing bank against T/Rthe goods from shipping company against indemnity guarantee signed by the issuing bank.for packing loans from his bank88. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document89. The drawee of a draft drawn under letter of credit may be ( C )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank90. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .A. the carrierB. the shipperC. the notify partyD. the nominated bank。

Introduction1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3. Which of the following payment method is based on commercial credit?( C )A.letter of creditB.bank er’s letter of guaranteeC. collectionD. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A.importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7. CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8. From a Chinese b ank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current accountD.a home currency account9. From a Chinese bank’s point of view , the current account maintained by a fo reign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account10. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB. services supplyC. current transfersD. investment incomes11. Documentary credit business is subject to ( A )A. UCP600B.URC522C. URDG758D. ISP9812. Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9813. Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9814.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9815. London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD16. New York is the clearing centre for ( A )A. USDB. GBPC.EURD.HKD17. Tokyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY18. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD19. There are totally ten categories of message types in SWIFT system, among which ( A ) are used only to deal with remittance business.A. category 1B. category 2C. category 4D. category 720. There are totally ten categories of message types in SWIFT system, among which ( C ) are used only to deal with collection business.A. category 1B. category 2C. category 4D. category 721. There are totally ten categories of message types in SWIFT system, among which ( D ) are used to deal with letter of credit business.A. category 1B. category 3C. category 4D. category 722. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBPC.EURD.JPY23. TARGET is the electronic clearing system for ( C )A. USDB. GBPC.EURD.JPY24. CHATS is the electronic clearing system for ( D )A. USDB. GBPC.EURD.HKD25.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement26. The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXWNegotiable instruments27. A cheque must be signed by （ A ）A.the drawer B the drawee C. the payer D. the payee28. If a cheque dated 1st Feb. 2007 was presented on （ D ） , it would be post-dated.A.1st Mar. 2007B. 2nd May 2007C. 1st Feb. 2008D. 5th Jan.200729.（ A ） cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing30. The effect of a blank endorsement is to make the cheque payable to the （ C ）A. specified person B, order of a specified person C. bearer D. named person31. The role of the （ A ）bank is to debit the cheque to the customer’s account.A. paying B, collecting C. advising D. confirming32. If the bill is pay able “60 days after date”, the date of payment is decided according to （ C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity33. A （ B ）carries comparatively little risks and can be discounted at the finest rate of interest.A. sight billB. bank billC. time billD. commercial bill34. A term bill may be accepted by the （ B ）A. drawerB. draweeC. holderD. payee35. The party to whom the bill is addressed is called the（ B ）A. drawerB. draweeC. holderD. payee36. When financing is without recourse, this means that the bank has no recourse to the （ D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer37. The（ C ） of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor38. The bill which must be presented for acceptance is （ B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight39. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank40.（ C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer41. Which of the following is a relative essential item of a bill ?（ B ）A. amountB. tenorC. payeeD. drawee42. An endorsement ,which prohibits the further negotiation of the instrument ,is called （ D ）endorsement .A. qualifiedB. generalC. specificD. restrictive43. A check is a （ D ）draft drawn on a bankA. timeanceC. directD. demand44. An acceptance with “ payable on delivery of bill of lading” on the draft is （ D ）A.general acceptanceB.partial acceptanceC.non-acceptanceD.qualified acceptance45. The （ B ）of the draft is the person who is instructed to make the payment .A. drawerB. draweeC. payerD. payee46. The act which is never involved in promissory note business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation47. The act which is never involved in check business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation48. The draft with the tenor written as ( B ) must be presented for acceptance.A.payable at sightB. payable at 30days after sightC. payable at 30 days after dateD. payable at 30 days after shipment date49. The endorsement which has no intention to transfer the ownership of the instrument is ( D )A. blank endorsementB. special endorsementC. conditional endorsementD. endorsement for collection50. Among the following persons, the one who has the right to endorse negotiable instruments is ( D )A. drawerB. draweeC. endorserD. holder51. The person who has the right of recourse is the ( C )of the negotiable instruments.A. drawerB. draweeC. holderD. acceptor52. The acceptor of a bill is the person who originally named as ( B ) of the bill.A. drawerB. draweeC.payeeD.endorser53. The first endorser of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor54. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor55. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of ChinaRemittance56. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures57. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures58. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D59. Open account as a payment method is usually used when （ D ）A.goods are sold u nder the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition60. In remittance business ,the remitting bank may send the payment order to the paying bank through SWIFT by ( A )A. MT103B.MT202C. MT400D.MT70061. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks62.If the reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks63. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks64. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying b ank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a third bankD. remitting bank and paying bank have their A/Cs with two different banks65. In remittance business, if the paying bank maintains an A/C with remitting bank, the reimbursement instruction should be given as ( A )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank66. In remittance business, if the remitting bank maintains an A/C with paying bank, the reimbursement instruction should be given as ( B )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank67.In remittance business, if both remitting bank and paying bank maintain their A/Cs with a third bank, the reimbursement instruction should be given as ( C )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank68. In remittance business, if remitting bank and paying bank have their A/Cs with two different banks, the reimbursement instruction should be given as ( D )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank Collection69. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s correspondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions70. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer71. Under D/A, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer72. In collection business, dedailed instructions must be sent to the collecting bank （ B ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract73. In collection business, dedailed instructions must be given to the remitting bank （ A ）A. in the application formB in the collection orderC. in the documentsD. in the sales contract74. In collection business, banks are obligated to verify the documents received to see that （ C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form75. The collecting bank will make a protest only when （ C ）A. the documents are rejectedB. the case of need is nominatedC. instruction to protest is given by the collection orderD. protective measures in respect of the goods are taken.76. All the parties to a collection are bound by （ C ）if the collection is subject to it.A. UCP500B.UCP600C. URC522D.URDG75877. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection78. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ B ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank79. The instructions for collection are mainly （ D ）A. given in the S/CB. written on the bill of exchangeC. given by the importerD. given by the exporter80. Which type of collection offers the greatest security to the exporter? （ B ）A. documents against acceptance collectionB. documents against payment collectionC. clean collectionD. documentary collection81. Which of the following is not the obligation of the remitting bank?（ D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail82. Which of the following is not the obligation of the collecting bank?（ B ）A.to verify the authenticity of the collection orderB. to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.83. Case of need in collection business is the representative of （ A ）A.the principalB.the remitting bankC.the collecting bankD.the drawee84.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank85. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank86. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may be waived , charges will be for the account of ( A ) providing the drawee refusesto pay them.A. principalB. remitting bankC. collecting bankD. presenting bank87. The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as ( A )A. MT400B. MT410C.MT412D.MT41688. The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as ( C )A. MT400B. MT410C.MT412D.MT41689. The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as ( D )A. MT400B. MT410C.MT412D.MT41690.The price term which is more favorable to the seller under collection is ( D )A. EXWB. FOBC. CFRD. CIFLetter of credit91. In L/C business , the exporter can receive the payment only when __C____A. he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.92. The issuing bank can refuse to pay the credit amount when ____C___A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.b alance of the applicant’s account is not enough for payment .93. Of the following kinds of L/C , __B_____is the L/C which require no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit94. Of the following kinds of L/C , ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit95. Of the following kinds of L/C, ____D___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit96. Of the following kinds of L/C, ___A___is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditD.confirmed credit97 Of the following kinds of L/C, ____C___is the L/C which is especially suitable for use to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit98.Of the following kinds of L/C, ____B___is the L/C which is especially suitable for use to settle the payment under barter transaction.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit99. Confirmation of a credit may be given by BA. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation100. The credit may only be confirmed if it is so authorized or requested by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary101. The beneficiary of a transferred credit is ( C )A. the negotiating bankB. the middlemanC. the actual supplierD. the beneficiary of the transferable credit102. The second beneficiary of a transferable letter of credit is the ( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods103. The first beneficiary of a transferable letter of credit is the ( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods104. The sum of the transferred credit will normally be ( B )A. the same as in the credit before transferB. less than in the credit before transferC. more than in the credit before transferD. equal to the original credit105. The terms and conditions of the transferred credit can be different from the original credit in the following aspects, with the exception of( C ).A.the amount of the creditB.any unit price stated in the creditC.any quantity stated in the creditD. the expiry date, the period for presentation, or the latest shipment date106. Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary? ( D )A. the issuing bankB. the advising bankC. the beneficiaryD. the applicant107. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment108. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit109. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank110. In L/C business, documents are presented to ( D ) by the beneficiaryA. the advising bankB. the issuing bankC. the reimbursing bankD. the nominated bank111. If discrepancies found are serious, the following ways can be used by the negotiating bank to deal with them except ( A )A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor 112. According to the mode of availability L/C can be classified as ( C )A. clean L/C and documentary L/CB. confirmed L/C and unconfirmed L/CC.sight payment L/C, acceptance L/C ,deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/C113.Among all the financial methods mentioned bellow , which method provides funds without recourse ？ CA. packing loansB. bill discountingC. forfeitingD. borrowing docs against T/R114.Under letter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank 115. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank116. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank117.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 118. A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 25,2008, the latest date of presentation must be ( D )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008 119. The message type which is used to issue letter of credit through SWIFT is numbered ( A )A. 700B. 705C. 707D. 710120. The message type which is used to send a amendment to a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 710121. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit122. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 758123. Among the following items, the one which is not required to be included in a drawn clause of a draft under letter of credit is ( A ) A. the S/C No B. the L/C NoC. the name of issuing bankD. the issuing date of the credit 124. Among the following banks , the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank125. The expression "on or about" or similar will be interpreted as a stipulation that an event is to occur during a period of ( B ) the specified date, both start and end dates included.A.three calendar days before until three calendar days afterB. five calendar days before until five calendar days afterC. seven calendar days before until seven calendar days afterD. eleven calendar days before until eleven calendar days after 126. If letter of credit specifies the latest date of shipment is on or about May 10, then the actual shipping date should be within ( D ), both start and end dates included,A. May 6-15B. May5-14C. May6-14D. May5—15127. If a bill which is drawn on Dec. 1,2008 specifies the tenor as payable at 30 days after date, the due date of the bill should be ( C ) A. Dec. 29. 2008 B. Dec.. 30,2008 C. Dec. 31, 2008 D. Jan. 1, 2008 128. If a bill which is accepted on Nov. 1,2008 specifies the tenor as payable at 30 days after sight, the due date of the bill should be ( C ) A. Nov. 29. 2008 B. Nov. 30,2008 C. Dec. 1, 2008 D. Dec. 2, 2008Documents129. Short form B/L is considered to be ( A ).A.document of titleB.additional documentC.non-negotiablemercial invoice130. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. liner B/LD.received for shipment B/L131. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. clean B/LD.charter party B/L132. Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC. clean B/LD.on deck B/L133. Unless otherwise stipulated , banks will not accept ( C )A.direct B/LB.order B/LC. unclean B/LD.liner B/L134. If a credit calls for an insurance policy, banks will accept ( A ) A. an insurance policy B. an insurance certificateC. a or bD. both a and b135. Commercial invoice must be made out in the name of ( B )A.the beneficiaryB.the applicantC.advising bankD.issuing bank136. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document 137. Freight to collect B/L is suitable for use under (D )A. CFRB.CIFC.DDUD. FOB138. Freight prepaid B/L is suitable for use under ( A )A. CFRB.EXWC.FCAD. FOB139. The drawee of a draft drawn under letter of credit may be ( C ) A. the beneficiary B. the applicantC. the issuing bankD. the negotiating bank140. The drawer of a draft drawn under letter of credit may be ( A ) A. the beneficiary B. the applicant C. the issuing bank D. the negotiating bank。

Introduction1.To the exporter, the fastest and safest method of settlement is ( B )A.letter of creditB. cash in advanceC. open accountD. banker's draft2.To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3.Which of the following payment method is based on commercial credit?( C )A.letter of creditB.banker's letter of guaranteeC. collectionD. standby credit4.An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? (A )A.importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5.International cash settlement has the following disadvantages except ( B )A.expensiveB. safeC. riskyD. time-consuming6.CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7.CHAPS is the electronic clearing system for (A )A.GBPB. USDYD. EUR8.From a Chinese bank's point of view , the current account it maintains abroad is known as ( A )A.a nostro accountB. a vostro accountC. a current accountD.a home currency account9.From a Chinese bank's point of view , the current account maintained by a foreign bank with him is known as (B )A. a nostro accountB.a vostro accountC.a current accountD.a foreign currency account10.International trade settlement methods are used to complete the money transfer aroused by (A)A.goods transactionsB. services supplyC. current transfersD. investment incomes11.Documentary credit business is subject to ( A )A.UCP600B.URC522C. URDG758D. ISP9812.Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9813.Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9814.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9815.London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD16.New York is the clearing centre for (A )A. USDB. GBPC.EURD.HKD17.Tokyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY18.Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD19.There are totally ten categories of message types in SWIFT system, among which ( A) are used only to deal with remittance business.A.category 1B. category 2C. category 4D. category 720- There are totally ten categories of message types in SWIFT system, among which ( C ) are used only to deal with collection business.A.category 1B. category 2C. category 4D. category 721.There are totally ten categories of message types in SWIFT system, among which ( D ) are used to deal with letter of credit business.A.category 1B. category 3C. category 4D. category 722.BOJ-NET is the electronic clearing system for ( D )DB. GBPC.EURD.JPY23.TARGET is the electronic clearing system for ( C )DB. GBPC.EURD.JPY24.CHATS is the electronic clearing system for ( D )DB. GBPC.EURD.HKD25.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement26.The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXWNegotiable instruments27.A cheque must be signed by ( A )A.the drawer B the drawee C. the payer D. the payee28.If a cheque dated l s, Feb. 2007 was presented on ( D ) , it would be post-dated.A. 1st Mar. 2007B. 2nd May 2007C. l sl Feb. 2008D. 5lh Jan.200729.( A ) cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing30.The effect of a blank endorsement is to make the cheque payable to the ( C )A. specified person B, order of a specified person C. bearer D. named person31.The role of the ( A ) bank is to debit the cheque to the customer's account.A. paying B, collecting C. advising D. confirming32.If the bill is pay able "60 days after date”，the date of payment is decided according to ( C )A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity33.A ( B ) carries comparatively little risks and can be discounted at the finest rate of interest.A. sight billB. bank billC. time billD. commercial bill34.A term bill may be accepted by the ( B )A. drawerB. draweeC. holderD. payee35.The party to whom the bill is addressed is called the ( B )A. drawerB. draweeC. holderD. payee36.When financing is without recourse, this means that the bank has no recourse to the ( D ) if such drafts are dishonored.A.payerB. draweeC. acceptorD. drawer37.The ( C ) of a promissory note assumes the prime liability to make payment of the note.A.holderB. draweeC. makerD. acceptor38.The bill which must be presented for acceptance is ( B )A.the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight39.In order to retain the liabilities of the other parties, a bill that has been dishonored must be (A )A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank40.( C ) is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer41.Which of the following is a relative essential item of a bill ? ( B )A. amountB. tenorC. payeeD. drawee42.An endorsement,which prohibits the further negotiation of the instrument ,is called ( D ) endorsement.A. qualifiedB. generalC. specificD. restrictive43.A check is a ( D ) draft drawn on a bankA. timeanceC. directD. demand44.An acceptance with " payable on delivery of bill of lading” on the draft is ( D )A.general acceptanceB.partial acceptanceC.non-acceptanceD.qualified acceptance45.The ( B ) of the draft is the person who is instructed to make the payment.A. drawerB. draweeC. payerD. payee46.The act which is never involved in promissory note business is ( C )A.endorsementB.dishonorC.acceptanceD.presentation47.The act which is never involved in check business is ( C )A.endorsementB.dishonorC.acceptanceD.presentation48.The draft with the tenor written as ( B ) must be presented for acceptance.A.payable at sightB. payable at 30days after sightC. payable at 30 days after dateD. payable at 30 days after shipment date49.The endorsement which has no intention to transfer the ownership of the instrument is ( D )A. blank endorsementB. special endorsementC. conditional endorsementD. endorsement for collection50.Among the following persons, the one who has the right to endorse negotiable instruments is(D)A. drawerB. draweeC. endorserD. holder51.The person who has the right of recourse is the ( C )of the negotiable instruments.A. drawerB. draweeC. holderD. acceptor52.The acceptor of a bill is the person who originally named as ( B ) of the bill.A. drawerB. draweeC.payeeD.endorser53.The first endorser of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor54.The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor55.Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of ChinaRemittance56.The means of authenticating payment order in mail transfer is the ( D )A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures57.The means of authenticating payment order in telegraphic transfer is the ( C )A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures58.Which of the following is not a method of remittance? ( C )A. M/TB.T/TC. T/RD. D/D59.Open account as a payment method is usually used when ( D )A.goods are sold under the seller's market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer's market condition60.In remittance business ,the remitting bank may send the payment order to the paying bank through SWIFT by (A )A. MT 103B.MT202C. MT400D.MT70061.If the reimbursement instruction written on the payment order is expressed as 'in cover , we have credited your A/C with us', the A/C relationship between the remitting bank and the paying bank must be( A )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks62.If the reimbursement instruction written on the payment order is expressed as 'in cover, please debit our A/C with you', the A/C relationship between the remitting bank and the paying bank must be( B )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks63.If the reimbursement instruction written on the payment order is expressed as "in cover, we have authorized Bank A to debit our A/C and credit your A/C with them\ the A/C relationship between the remitting bank and the paying bank must be( C )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks64.If the reimbursement instruction written on the payment order is expressed as 'in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y', the A/C relationship between the remitting bank and the paying bank must be ( D )A.the paying bank maintains an A/C with remitting bankB.the remitting bank maintains an A/C with paying bankC.both remitting bank and paying bank maintain their A/Cs with a third bankD.remitting bank and paying bank have their A/Cs with two different banks65.In remittance business, if the paying bank maintains an A/C with remitting bank, the reimbursement instruction should be given as ( A )A.in cover, we have credited your A/C with usB.in cover, please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank66.In remittance business, if the remitting bank maintains an A/C with paying bank, the reimbursement instruction should be given as ( B )A.in cover, we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover, we have instructed A bank to pay the proceeds to your A/C with B bank67.In remittance business, if both remitting bank and paying bank maintain their A/Cs with a third bank, the reimbursement instruction should be given as ( C )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover, we have instructed A bank to pay the proceeds to your A/C with B bank68.In remittance business, if remitting bank and paying bank have their A/Cs with two different banks, the reimbursement instruction should be given as ( D )A.in cover , we have credited your A/C with usB.in cover , please debit our A/C with youC.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with themD.in cover, we have instructed A bank to pay the proceeds to your A/C with B bankCollection69.It will be more convenient if the collecting bank appointed by the seller ( B )A.is a large bankB.is the remitting bank's correspondent in the place of the importerC.is in the exporter's countryD.acts on the importer's instructions70.Under D/R the documents will not be delivered to the buyer until ( D )A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is paid by the buyer71.Under D/A, the documents will not be delivered to the buyer until ( D )A.the goods have arrivedB.the documents have arrivedC.the documents are presented to the buyerD.the bill is accepted by the buyer72.In collection business, dedailed instructions must be sent to the collecting bank ( B )A. in the application formB in the collection orderC.in the documentsD.in the sales contract73.In collection business, dedailed instructions must be given to the remitting bank ( A )A. in the application formB in the collection orderC.in the documentsD.in the sales contract74.In collection business, banks are obligated to verify the documents received to see that ( C )A.they are authenticB.they are regularC.they are the same as those listed in the collection instructionD.they are in the right form75.The collecting bank will make a protest only when ( C )A.the documents are rejectedB.the case of need is nominatedC.instruction to protest is given by the collection orderD.protective measures in respect of the goods are taken.76.AH the parties to a collection are bound by ( C ) if the collection is subject to it.A. UCP500B.UCP600C. URC522D.URDG75877.A bill of exchange which is accompanied by shipping documents is known as ( B )A.a clean billB.a documentary billC.a clean collectionD.a documentary collection78.In documentary collection, after the goods have been shipped, the exporter presents the documents to ( B ) for collectionA.the collecting bankB.the reimbursing bankC.the remitting bankD.the opening bank79.The instructions for collection are mainly ( D )A.given in the S/CB.written on the bill of exchangeC.given by the importerD.given by the exporter80.Which type of collection offers the greatest security to the exporter? ( B )A.documents against acceptance collectionB.documents against payment collectionC.clean collectionD.documentaiy collection81.Which of the following is not the obligation of the remitting bank? ( D )A.to complete a collection order strictly according to the principaPs instructions.B.to perform following all the instructions given by the principal.C.to keep the documents wellD.to examine the contents of documents in detail82.Which of the following is not the obligation of the collecting bank? ( B )A.to verify the authenticity of the collection orderB.to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.83.Case of need in collection business is the representative of ( A )A.the principalB.the remitting bankC.the collecting bankD.the drawee84.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank85.In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank86.If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may be waived , charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank87.The advice of payment sent by the collecting bank to remitting bank through SWIFT takes the form as ( A )A. MT400B.MT410C.MT412D.MT41688.The advice of acceptance sent by the collecting bank to remitting bank through SWIFT takes the form as ( C )A. MT400B. MT410C.MT412D.MT41689.The advice of dishonor sent by the collecting bank to remitting bank through SWIFT takes the form as ( D )A. MT400B.MT410C.MT412D.MT41690.The price term which is more favorable to the seller under collection is ( D )A. EXWB.FOBC. CFRD. CIFLetter of credit91.In L/C business , the exporter can receive the payment only when CA.he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.92.The issuing bank can refuse to pay the credit amount when CA.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn't presented.D.balance of the applicant/s account is not enough for payment.93.Of the following kinds of L/C , —B is the L/C which require no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance credit□.negotiation credit94.Of the following kinds of L/C , ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit95.Of the following kinds of L/C,D is the L/C which is especially suitablefor use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit96.Of the following kinds of L/C,A is the L/C which is especially suitable foruse to settle the payment of trade conducted through a middleman.A.transferable creditB.reciprocal creditC.revolving creditD.confirmed credit97 Of the following kinds of L/C,C is the L/C which is especially suitable foruse to settle the payment under a long tern contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit98.Of the following kinds of L/C,B is the L/C which is especially suitable foruse to settle the payment under barter transaction.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit99.Confirmation of a credit may be given by BA.the beneficiary at the request of the importerB.the advising bank at the request of the issuing bankC.the advising bank after the receipt of correct documentationD.the issuing bank after the receipt of coiTect documentation100.The credit may only be confirmed if it is so authorized or requested by (A )A.the issuing bankB.the supplierC.the advising bankD.the beneficiary101.The beneficiary of a transferred credit is ( C )A.the negotiating bankB.the middlemanC.the actual supplierD.the beneficiary of the transferable credit102.The second beneficiary of a transferable letter of credit is the ( D )A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods103.The first beneficiary of a transferable letter of credit is the ( A )A.middlemanB.transferring bankC.the applicant of the transferred creditD.real supplier of the goods104.The sum of the transferred credit will normally be ( B )A.the same as in the credit before transferB.less than in the credit before transferC.more than in the credit before transferD.equal to the original credit105.The terms and conditions of the transferred credit can be different from the original credit in the following aspects, with the exception of( C ).A.the amount of the creditB.any unit price stated in the creditC.any quantity stated in the creditD.the expiry date, the period for presentation, or the latest shipment date106.Under the anticipatory credit,on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary? ( D )A.the issuing bankB.the advising bankC.the beneficiaryD.the applicant107.The red clause credit is often used as a method of ( B )A.providing the buyer with funds prior to shipmentB.providing the seller with funds prior to shipmentC.providing the buyer with funds after shipmentD.providing the seller with funds after shipment108.An applicant must reimburse an issuing bank unless he finds that ( D )A.goods are defectiveB.goods are not as ordered in the sales contractC.documents received do not allow him to clear the goods through customsD.documents do not conform on the face to the terms and conditions of the credit109.Application for any amendment to a letter of credit should be given to the issuing bank by (A)A.the applicantB.the beneficiaryC.the advising bankD.the nominated bank110.In L/C business, documents are presented to ( D ) by the beneficiaryA.the advising bankB.the issuing bankC.the reimbursing bankD.the nominated bank111.If discrepancies found are serious, the following ways can be used by the negotiating bank to deal with them except ( A )A.To honor the docs as usualB.To return the docs to beneficiary for amendmentC.To honor the docs against indemnity guarantee of the beneficiaryD.To cable the discrepancies to issuing bank for authorization of honor112.According to the mode of availability L/C can be classified as ( C )A.clean L/C and documentary L/CB.confirmed L/C and unconfirmed L/CC.sight payment L/C, acceptance L/C .deferred payment L/C and negotiation L/CD.transferable L/C and non-transferable L/C113.Among all the financial methods mentioned bellow , which method provides funds without recourse ? CA.packing loansB.bill discountingC.forfeitingD.borrowing docs against T/R114.Under letter of credit, the primary debtor is the( C )A.applicantB. importerC. issuing bankD. nominated bank115.The applicant of letter of credit is ( B )A.the exporterB. the importerC. the exporter's bankD. the importer's bank 116.The beneficiary of letter of credit is ( A )A.the exporterB. the importerC. the exporter's bankD. the importer's bank 117.A letter of credit which is expired on Oct. 1, 2008 specifies that u documents must be presented within 15da ys after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be (B )A.Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008118.A letter of credit which is expired on Oct. 1, 2008 specifies that u documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 25,2008, the latest date of presentation must be (D )A.Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 2008119.The message type which is used to issue letter of credit through SWIFT is numbered ( A)A.700B.705C. 707D.710120.The message type which is used to send a amendment to a documentary credit through SWIFT is numbered ( C )A.700B.705C. 707D.710121.Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A.to pay at sight under sight payment creditB.to incur a deferred payment undertaking and pay at maturity under deferred payment creditC.to accept the draft and pay at maturity under acceptance creditD.to negotiate under negotiation creditplying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 758123.Among the following items, the one which is not required to be included in a drawn clause of a draft under letter of credit is ( A )A. the S/C NoB. the L/C NoC. the name of issuing bankD. the issuing date of the credit124.Among the following banks , the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank125.The expression H on or about11 or similar will be interpreted as a stipulation that an event is to occur during a period of ( B ) the specified date, both start and end dates included.A.three calendar days before until three calendar days afterB.five calendar days before until five calendar days afterC.seven calendar days before until seven calendar days afterD.eleven calendar days before until eleven calendar days after126.If letter of credit specifies the latest date of shipment is on or about May 10, then the actual shipping date should be within ( D ), both start and end dates included, A. May 6-15 B. May5-14 C. May6-14 D. May5—15127.If a bill which is drawn on Dec. 1,2008 specifies the tenor as payable at 30 days after date, the due date of the bill should be ( C )A. Dec. 29. 2008B. Dec.. 30,2008C. Dec. 31, 2008D. Jan. 1, 2008128.If a bill which is accepted on Nov. 1,2008 specifies the tenor as payable at 30 days after sight, the due date of the bill should be ( C )A. Nov. 29. 2008B. Nov. 30,2008C. Dec. 1, 2008D. Dec. 2, 2008Documents129.Short form B/L is considered to be ( A).A.document of titleB.additional documentC.non-negotiablemercial invoice130.Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC.liner B/LD.received for shipment B/L131.Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC.clean B/LD.charter party B/L132.Unless otherwise stipulated , banks will not accept ( D )A.direct B/LB.order B/LC.clean B/LD.on deck B/L133.Unless otherwise stipulated , banks will not accept ( C )A.direct B/LB.order B/LC.unclean B/LD.liner B/L134.If a credit calls for an insurance policy, banks will accept (A)A. an insurance policyB. an insurance certificateC. a or bD. both a and bmercial invoice must be made out in the name of ( B )A.the beneficiaryB.the applicantC.advising bankD.issuing bank136.A bill of lading doesn f t function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D・ an accounting document137.Freight to collect B/L is suitable for use under ( D )A. CFRB.CIFC.DDUD. FOB138.Freight prepaid B/L is suitable for use under ( A )A. CFRB.EXWC.FCAD. FOB139.The drawee of a draft drawn under letter of credit may be ( C )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank140.The drawer of a draft drawn under letter of credit may be ( A )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank。

1. To the exporter, the fastest and safest method of settlement is ( B )A. letter of creditB. cash in advanceC. open accountD. banker’s draft2. To the importer, the most favorable method of settlement is ( C )A.letter of creditB. cash in advanceC. open accountD. collection3. Which of the following payment method is based on commercialcredit?( C )A.letter of creditB.bank guaranteeC. collectionD. standby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )A. importer; exporterB. exporter; importerC. importer; importerD. exporter; exporter5. International cash settlement has the following disadvantages except ( B )A. expensiveB. safeC. riskyD. time-consuming6. CHIPS is the electronic clearing system for ( B )A.GBPB. USDYD. EUR7. CHAPS is the electronic clearing system for ( A )A.GBPB. USDYD. EUR8. BOJ-NET is the electronic clearing system for ( D )A. USDB. GBPC.EURD.JPY9. TARGET is the electronic clearing system for ( C )A. USDB. GBPC.EURD.JPY10. CHATS is the electronic clearing system for ( D )A. USDB. GBPC.EURD.HKD11. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )A. a nostro accountB. a vostro accountC. a current accountD.a home currency account12. From a Chinese bank’s point of view , the curren t account maintained by a foreign bank with him is known as （B ）A.a nostro accountB.a vostro accountC.a current accountD.a foreign currency account13. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods transactionsB. services supplyC. security investmentD. investment incomes14. Documentary credit business is subject to ( A )A. UCP600B.URC522C. URDG758D. ISP9815. Collection business is subject to ( B )A. UCP600B.URC522C. URDG758D. ISP9816. Standby credit business is subject to ( D )A. UCP600B.URC522C. URDG758D. ISP9817.Letter of guarantee business is subject to ( C )A. UCP600B.URC522C. URDG758D. ISP9818. London is the clearing centre for ( B )A. USDB. GBPC.EURD.HKD19. New York is the clearing centre for ( A )A. USDB. GBPC.EURD.HKD20. Tokyo is the clearing centre for ( D )A. USDB. GBPC.EURD.JPY21. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD22.Among the following documents, the one which is not regarded as control documents is ( D )A. authorized signaturesB. test keysC. schedule of terms and conditionsD. correspondent arrangement23. The seller should arrange for the insurance of the goods transportation under ( C )A.FOBB.CFRC.CIFD.EXW24.（ A ） cheque can be cashed over the counter of paying bank.A. An openB. A crossedC. A general crossingD. A special crossing25. The effect of a blank endorsement is to make a negotiable instrument payable to the （ C ）A. specified person B, order of a specified person C. bearer D. named person26. If the bill is pay able “60 days after date”, the date of payment is decided according to （ C ）A. the date of acceptanceB. the date of presentationC. the date of issuanceD. the date of maturity27. The party to whom the bill is addressed is called the（ B ）A. drawerB. draweeC. holderD. payee28. When financing is without recourse, this means that the bank has no recourse to the （ D ）if such drafts are dishonored.A. payerB. draweeC. acceptorD. drawer29. The（ C ） of a promissory note assumes the prime liability to make payment of the note.A. holderB. draweeC. makerD. acceptor30. The bill which must be presented for acceptance is （ B ）A. the bill payable at xx days after dateB. the bill payable xx days after sightC. the bill payable on a fixed dateD. the bill payable at sight31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）A. protestedB. given to the acceptorC. retained in the filesD. presented to a bank32.（ C ）is not a holder of a billA. PayeeB. EndorseeC. DrawerD. Bearer33. Which of the following is a relative essential item of a bill ?（ B ）A. amountB. tenorC. payeeD. drawee34. An endorsement ,which prohibits the further negotiation of the instrument ,is called （ D ）endorsement .A. qualifiedB. generalC. specificD. restrictive35. A check is a （ D ）draft drawn on a bankA. timeanceC. directD. demand36. The act which is never involved in promissory note business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation37. The act which is never involved in check business is （ C ）A.endorsementB.dishonorC.acceptanceD.presentation38. The acceptor of a bill is the person who originally named as ( B )of the bill.A. drawerB. draweeC.payeeD.endorser39. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. bankerB. not negotiableC. A/C payeeD. Bank of China41. The means of authenticating payment order in mail transfer is the （ D ）A. SWIFT authentic keyB. schedule of terms and conditionsC. test keyD. authorized signatures42. The means of authenticating payment order in telegraphic transfer is the（ C ）A. correspondent arrangementB. schedule of terms and conditionsC. test keyD. authorized signatures43. Which of the following is not a method of remittance? （ C ）A. M/TB. T/TC. T/RD. D/D44. Open account as a payment method is usually used when （ D ）A.goods are sold under the seller’s market conditionB.goods are badly needed by the buyerC.goods are of special standards or special specificationsD.goods are sold under the buyer’s market condition45. If the reimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks46. If the reimbursement instruction written on the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks47. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must be( C )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks48. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be ( D )A. the paying bank maintains an A/C with remitting bankB. the remitting bank maintains an A/C with paying bankC. both remitting bank and paying bank maintain their A/Cs with a thirdbankD. remitting bank and paying bank have their A/Cs with two different banks49. It will be more convenient if the collecting bank appointed by the seller （ B ）A. is a large bankB. is the remitting bank’s corr espondent in the place of the importerC. is in the exporter’s countryD. acts on the importer’s instructions50. Under D/P, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is paid by the buyer51. Under D/A, the documents will not be delivered to the buyer until （ D ）A. the goods have arrivedB. the documents have arrivedC. the documents are presented to the buyerD. the bill is accepted by the buyer52. In collection business, banks are obligated to check the documents received to see that （ C ）A. they are authenticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form53. A bill of exchange which is accompanied by shipping documents is known as （ B ）A. a clean billB. a documentary billC. a clean collectionD. a documentary collection54. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collectionA. the collecting bankB. the reimbursing bankC. the remitting bankD. the opening bank55. Which of the following is not the obligation of remitting bank in collection ?（ D ）A. to complete a collection order strictly according to the principal’s instructions.B. to perform following all the instructions given by the principal.C. to keep the documents wellD. to examine the contents of documents in detail56. Which of the following is not the obligation of the collecting bank?（ B ）A.to verify the authenticity of the collection orderB. to take care of goodsC.to release documents strictly on the delivery terms of documents.D.to perform following all the instructions given by the remitting bank.57.In collection business, the drawer of the draft for collection is ( A )A. sellerB. buyerC. remitting bankD. collecting bank58. In collection business, the drawee of the draft for collection is ( B )A. sellerB. buyerC. remitting bankD. collecting bank59. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.A. principalB. remitting bankC. collecting bankD. presenting bank60.The price term which is more favorable to the seller under collectionis ( D )A. EXWB. FOBC. CFRD. CIF61. In L/C business , the exporter can receive the payment only when ( C )A. he has shipped the goodsB.he has presented the documentsC.the documents presented constitute a complying presentationD.the importer has taken delivery of the goods.62. In L/C business, the issuing bank can refuse to pay the credit amount when ( C )A.the applicant prevents him from making paymentB.the goods are not the same as those stipulated in the sales contractC.one kind of document required by L/C isn’t presented.D.b alance of the applicant’s account is not enough for payment .63. Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit64. Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.A.sight payment creditB.deferred payment creditC.acceptance creditD.negotiation credit65. Of the following kinds of L/C, ( D ) is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit66. Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.A. transferable creditB. reciprocal creditC. revolving creditD.confirmed credit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit68.Of the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.A.non-transferable creditB.reciprocal creditC.revolving creditD.back to back credit69. Confirmation of a credit may be given by ( B )A. the beneficiary at the request of the importerB. the advising bank at the request of the issuing bankC. the advising bank after the receipt of correct documentationD. the issuing bank after the receipt of correct documentation70. The credit may only be confirmed if it is so authorized or allowed by ( A )A. the issuing bankB. the supplierC. the advising bankD. the beneficiary71. The second beneficiary of a transferable letter of credit is the( D )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods72. The first beneficiary of a transferable letter of credit is the ( A )A. middlemanB. transferring bankC. the applicant of the transferred creditD. real supplier of the goods73. The red clause credit is often used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. providing the buyer with funds after shipmentD. providing the seller with funds after shipment74. An applicant must reimburse an issuing bank unless he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales contractC. documents received do not allow him to clear the goods through customsD. documents do not conform on the face to the terms and conditions of the credit75. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )A. the applicantB. the beneficiaryC. the advising bankD. the nominated bank76. The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )A. 700B. 705C. 707D. 71077.Among all the financial methods mentioned bellow , which method provides funds without recourse ？ ( C )A. packing loansB. bill discountingC. forfaitingD. borrowing docs against T/R78.Under letter of credit, the primary debtor is the( C )A. applicantB. importerC. issuing bankD. nominated bank79. The applicant of letter of credit is ( B )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank80. The beneficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter’s bankD. theimporter’s bank81.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of theCIF or CIP value of the goods.A. 100%B.105%C. 110%D.120%83. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )A. to pay at sight under sight payment creditB. to incur a deferred payment undertaking and pay at maturity underdeferredpayment creditC. to accept the draft and pay at maturity under acceptance creditD. to negotiate under negotiation credit84. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 75885. Among the following banks, the one who has no obligation to examine documents under letter of credit is ( C )A. the issuing bankB. the confirming bankC. the reimbursing bankD. the nominated bank86.The following are the financing methods which can be used by the seller in L/C business except ( D )A. negotiating the documentary draft to his bankA.applying for packing loans from his bankB.discounting the time draft already accepted by the drawee bankD. Borrowing docs from issuing bank against T/R87.The following are the financing methods which can be used by the buyer in L/C business except ( D )A.applying for issuing L/C with no margin requirement.B.borrowing docs from issuing bank against T/RC.taking the goods from shipping company against indemnity guarantee signed by the issuing bank.D.applying for packing loans from his bank88. A bill of lading doesn't function as ( D )A. a contract of transportationB. a receipt of goodsC a certificate of title to the goods D. an accounting document89. The drawee of a draft drawn under letter of credit may be ( C )A. the beneficiaryB. the applicantC. the issuing bankD. the negotiating bank90. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .A. the carrierB. the shipperC. the notify partyD. the nominated bank。

A. a no stro accou ntB. a vostro accountD.a foreig n curre ncy accou nt13. International trade settlement methods are used to complete the money transfer aroused by ( A)A. goods tra nsacti onsB. services supplyC. security in vestme ntD. i nvestme nt in comes14. Docume ntary credit bus in ess is subject to ( A ) A. UCP600 B.URC522 C. URDG758 D. ISP98 15. Collecti on bus in ess is subject to ( B ) A. UCP600B.URC522C. URDG758D. ISP9816. Stan dby credit bus in ess is subject to ( D ) A. UCP600B.URC522C. URDG758D. ISP9817. Letter of guara ntee bus in ess is subject to ( C ) A. UCP600 B.URC522 C. URDG758 D. ISP98 18. London is the clear ing cen tre for ( B ) A. USD B. GBP C.EUR D.HKD1. To the exporter, the fastest and safest method of set tl em e nt is ( B ) A. letter of credit B. cash in advanee C. open account D. banker ' s draft2. To the importer, the most favorable method of settleme nt is ( C ) A.I etter of credit B. cash in adva nee C. ope n accou nt D. collecti on3. Which of the followi ng payme nt method is based on commercial credit?( C ) A.l etter of credit B.ba nk guara ntee C. collecti on D. sta ndby credit4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A ) A. importer; exporter B. exporter; importer C. importer; importer D. exporter; exporter5. Intern ati onal cash settleme nt has the follow ing disadva ntages except ( B )B. safeC. riskyD. time-c on sum ing B ) A. expe nsive 6. CHIPS is the electronic clearing system for ( A.GBP B. USD Y D. EUR 7. CHAPS is the electronic clearing system for ( A.GBP B. USD Y D. EUR 8. BOJ-NET is the electronic clearing system for ( A. USD B. GBP C.EUR D.JPY 9. TARGET is the electronic clearing system for ( A. USD B. GBP C.EUR D.JPY 10. CHATS is the electronic clearing system for ( D ) A. USD B. GBP C.EUR D.HKD 11. From a Chin ese bankA. a no stro accou nt's poviewf , the current account it maintains abroad is known as ( A ) B. a vostro accou nt C. a curre nt accou nt 12. From a Chin esebank D.a home curre ncy accou nt's point of view , the current account maintained by a foreign bank Wh him is knownas (B )C.a curre nt accou nt19. New York is the cleari ng cen tre for ( A ) A. USD B. GBP C.EUR D.HKD 20. Tokyo is the clearing centre for ( D ) A. USD B. GBP C.EUR D.JPY 21. Frankfurt is the clearing centre for ( C )A. USDB. GBPC.EURD.HKD22. A mong the follow ing docume nts, the one which is not regarded as con trol docume nts is ( D ) A. authorized sig naturesB. test keysC. schedule of terms and con diti onsD. corresp ondent arran geme nt23. The seller should arrange for the in sura nce of the goods tran sportati on un der ( C ) A.FOBB.CFRC.CIFD.EXW24. ( A ) cheque can be cashed over the counter of paying bank. A. An ope n B. A crossed C. A gen eral cross ingD. A special cross ing25. The effect of a blank endorsement is to make a negotiable instrument payable to the ( C ) A. specified pers on B, order of a specified pers onC. bearerD. n amed pers on26. If the bill is pay able “ 60 days after date ” , the date of payment is decided according to ) A. the date of accepta nce B. the date of prese ntati on C. the date of issua nceD. the date of maturity27. The party to whom the bill is addressed is called the ( B ) A. drawer B. drawee C. holder D. payee28. When financing is without recourse, this means that the bank has no recourse to the are dish on ored.A. payerB. draweeC. acceptorD. drawer29. The ( C ) of a promissory note assumes the prime liability to make payment of the note. A. holder B. drawee C. maker D. acceptor30. The bill which must be presented for acceptance is ( B ) A. the bill payable at xx days after date B. the bill payable xx days after sight C. the bill payable on a fixed dateD. the bill payable at sight31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be ( A )A. protestedB. give n to the acceptorC. reta ined in the filesD. prese nted to a bank 32. ( C ) is not a holder of a billA. PayeeB. En dorseeC. DrawerD. Bearer33. Which of the following is a relative essential item of a bill ? ( B )A. amou ntB. tenorC. payeeD. drawee34. An en dorseme nt ,which prohibits the further n egotiati on of the in strume nt ,is called A.qualified B. gen eral C. specific D. restrictive 35. A check is a ( D ) draft drawn on a bank A. time a nce C. direct D. dema nd36. The act which is n ever in volved in promissory note bus in ess is ( C ) A.en dorseme nt B.dish onorC.accepta nceD.prese ntati on37. The act which is n ever in volved in check bus in ess is ( C ) A. en dorseme nt B.dish onor C.accepta nceD.prese ntati on38. The acceptor of a bill is the pers on who orig in ally n amed as ( B ) of the bill.A. drawerB. draweeC.payeeD.en dorser(D ) if such drafts(D ) endorsement .39. The first holder of a bill is the ( C ) of the billA. drawerB. draweeC.payeeD.acceptor40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.A. ban kerB. not negotiableC. A/C payeeD. Bank of China41. The means of authenticating payment order in mail transfer is the ( D )A. SWIFT authe ntic keyB. schedule of terms and con diti onsC. test keyD. authorized sig natures42. The means of authenticating payment order in telegraphic transfer is the ( C )A. corresp ondent arran geme ntB. schedule of terms and con diti onsC. test keyD. authorized sig natures43. Which of the following is not a method of remittanee? ( C )A. M/TB. T/TC. T/RD. D/D44. Open account as a payment method is usually used when ( D )A. goods are sold under the seller ' s market conditionB. goods are badly n eeded by the buyerC. goods are of special sta ndards or special specificati onsD. goods are sold under the buyer ' s market condition45. If the r eimbursement instruction written on the payment order is expressed as ' in cover , we have credit your A/C with us ' , the A/C relati on ship betwee n the remitti ng bank and the pay ing bank must be(A )A. the pay ing bank maintains an A/C with remitt ing bankB. the remitt ing bank maintains an A/C with pay ing bankC. both remitti ng bank and pay ing bank maintain their A/Cs with a third bankD. remitt ing bank and pay ing bank have their A/Cs with two differe nt banks46. If the reimburseme nt in structi on writte n o n the payme nt order is expressed as in cover, please debit ourA/C with you ' , the A/C relati on ship betwee n the remitt ing bank and the pay ing bank must be( B )A. the pay ing bank maintains an A/C with remitt ing bankB. the remitt ing bank maintains an A/C with pay ing bankC. both remitti ng bank and pay ing bank maintain their A/Cs with a third bankD. remitt ing bank and pay ing bank have their A/Cs with two differe nt banks47. If the reimburseme nt in structi on writte n on the payme nt order is expressed as in cover, we have authorizedBank A to debit our A/C and credit your A/C with them ' , the A/C relati on ship betwee n the remitt ing bank andthe pay ing bank must be( C )A. the pay ing bank maintains an A/C with remitt ing bankB. the remitt ing bank maintains an A/C with pay ing bankC. both remitti ng bank and pay ing bank maintain their A/Cs with a third bankD. remitt ing bank and pay ing bank have their A/Cs with two differe nt banks48. If the reimburseme nt in structi on writte n on the payme nt order is expressed as ih cover, we have in structedBank X to tran sfer the proceeds to your A/C with bank Y ' , the A/C relati on ship betwee n the remitti ng bank andthe pay ing bank must be ( D )A. the pay ing bank maintains an A/C with remitt ing bankB. the remitt ing bank maintains an A/C with pay ing bankC. both remitti ng bank and pay ing bank maintain their A/Cs with a third bankD. remitt ing bank and pay ing bank have their A/Cs with two differe nt banks49.lt will be more convenient if the collect ing bank appo in ted by the seller ( B )A. is a large bankB. is the remitting bank ' s correspondent in the place of the importerC. is in the exporter ' s countryD. acts on the importer ' s instructions50. Under D/P, the documents will not be delivered to the buyer until ( D )A. the goods have arrivedB. the docume nts have arrivedC. the docume nts are prese nted to the buyerD. the bill is paid by the buyer51. Under D/A, the documents will not be delivered to the buyer until ( D )A. the goods have arrivedB. the docume nts have arrivedC. the docume nts are prese nted to the buyerD. the bill is accepted by the buyer52. In collecti on bus in ess, banks are obligated to check the docume nts received to see that ( C )A. they are authe nticB. they are regularC. they are the same as those listed in the collection instructionD. they are in the right form53. A bill of exchange which is accompanied by shipping documents is known as ( B )A. a clea n billB. a docume ntary billC. a clea n collecti onD. a docume ntary collecti on54. In documentary collection, after the goods have been shipped, the exporter presents the documents to ( C ) for collectionA. the collect ing bankB. the reimburs ing bankC. the remitting bankD. the ope ning bank55. Which of the follow ing is not the obligati on of remitt ing bankin collecti on ? ( D )A. to complete a collection order strictly according to the principal ' s instructions.B. to perform follow ing all the in structi ons give n by the pri ncipal.C. to keep the docume nts wellD. to exam ine the contents of docume nts in detail56. Which of the follow ing is not the obligati on of the collect ing bank? ( B )A. to verify the authe nticity of the collecti on orderB. to take care of goodsC. to release docume nts strictly on the delivery terms of docume nts.D. to perform following all the instructions given by the remitting bank.57.ln collecti on bus in ess, the drawer of the draft for collecti on is ( A )A. sellerB. buyerC. remitt ing bankD. collect ing bank58. In collecti on bus in ess, the drawee of the draft for collecti on is ( B )A. sellerB. buyerC. remitt ing bankD. collect ing bank59. If the collection instruction given by the principal specifies that collection charges are to be borne by thedrawee but with no express stateme nt that they may not be waived, charges will be for the accou nt of ( A )providi ng the drawee refuses to pay them.A. pri ncipalB. remitt ing bankC. collect ing bankD. prese nting bank60. The price term which is more favorable to the seller un der collecti on is ( D )A. EXWB. FOBC. CFRD. CIF61. In L/C bus in ess , the exporter can receive the payme nt only whe n ( C )A. he has shipped the goodsB. he has prese nted the docume ntsC. the docume nts prese nted con stitute a compl ying prese ntati onD. the importer has taken delivery of the goods.62. In L/C bus in ess, the issu ing bank can refuse to pay the credit amou nt whe n ( C )A. the applicant prevents him from making paymentB. the goods are not the same as those stipulated in the sales con tractC. one kind of document required by L/C isn ' t presented.D. balanee of the applicant ' s account is not enough for payment .63. Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.A. sight payme nt creditB. deferred payme nt creditC. accepta nee creditD. n egotiati on credit64. Of the follow ing kinds of L/C, ( C ) is the L/C in which drafts are always required.A. sight payme nt creditB. deferred payme nt creditC. accepta nee creditD. n egotiati on credit65. Of the follow ing kinds of L/C, ( D ) is the L/C which is especially suitable for use to settle the payme nt of trade con ducted througha middlema n.A. non-transferable creditB. reciprocal creditC. revolv ing creditD. back to back credit66. Of the follow ing kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payme ntof trade con ducted through a middlema n.A. tran sferable creditB. reciprocal creditC. revolv ing creditD. con firmed credit67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the paymentun der a long term con tract coveri ng goods to be tran sported by regular partial shipme nts.A. non-transferable creditB. reciprocal creditC. revolv ing creditD. back to back credit68.0f the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment un der cou nter trade.A. non-transferable creditB. reciprocal creditC. revolv ing creditD. back to back credit69. Con firmati on of a credit may be give n by ( B )A. the ben eficiary at the request of the importerB. the advis ing bank at the request of the issu ing bankC. the advising bank after the receipt of correct documentationD. the issu ing bank after the receipt of correct docume ntati on70. The credit may only be con firmed if it is so authorized or allowed by ( A )A. the issu ing bankB. the supplierC. the advis ing bankD. the ben eficiary71. The sec ond ben eficiary of a tran sferable letter of credit is the ( D )A. middlema nB. tra nsferri ng bankC. the applica nt of the tran sferred creditD. real supplier of the goods72. The first ben eficiary of a tran sferable letter of credit is the ( A )A. middlema nB. tra nsferri ng bankC. the applica nt of the tran sferred creditD. real supplier of the goods73. The red clause credit is ofte n used as a method of ( B )A. providing the buyer with funds prior to shipmentB. providing the seller with funds prior to shipmentC. provid ing the buyer with funds after shipme ntD. providing the seller with funds after shipment74. An applica nt must reimburse an issu ing bank unl ess he finds that ( D )A. goods are defectiveB. goods are not as ordered in the sales con tractC. documents received do not allow him to clear the goods through customsD. docume nts do not conform on the face to the terms and con diti ons of the credit75. Applicati on for any ame ndme nt to a letter of credit should be give n to the issu ing bank by ( A )A. the applica ntB. the ben eficiaryC. the advis ing bankD. the nomin ated bank76. The message type which is used to send a ame ndme nt no tice of a docume ntary credit through SWIFT isn umbered ( C )A. 700B. 705C. 707D. 71077. Among all the financial methods mentioned bellow , which method provides funds without recourse ?(C )A. pack ing loa nsB. bill discou nti ngC. forfait ingD. borrow ing docs aga inst T/R78. Un der letter of credit, the primary debtor is the( C )A. applica ntB. importerC. issu ing bankD. nomin ated bank79. The applica nt of letter of credit is ( B )A. the exporterB. the importerC. the exporter ' bankD. the importer ' bank80. The ben eficiary of letter of credit is ( A )A. the exporterB. the importerC. the exporter ' bankD. the importer ' bank81. A letter of credit which is expired on Oct. 1, 2008 specifies that “ documents must be presented within15days after the on board date of bill of lad ing ”.lf the on board date of bill of lad ing is Sep. 10,2008, thelatest date of prese ntati on must be ( B )A. Sep. 24 ,2008B. Sep. 25 ,2008C. Sep. 26 ,2008D. Oct. 1, 200882. If there is no in dicati on in the credit of the in sura nce coverage required, the amou nt of i nsura nce coverage must be at least ( C ) of the CIF or CIP value of the goods.A. 100%B.105%C. 110%D.120%83. Which of the following actions performed by the nominated bank is not regard as the action of hon or( D )A. to pay at sight un der sight payme nt creditB. to in cur a deferred payme nt un dertak ing and pay at maturity un der deferredpayme nt creditC. to accept the draft and pay at maturity under acceptance creditD. to n egotiate un der n egotiati on credit84. Compl ying prese ntati on un der letter of credit means a prese ntati on that is in accorda nce with the terms and con diti ons of credit, the applicable rules of UCP and provisi ons of ( B )A. ISP98B. ISBP681C. ICC Publication No.522D.ICC Publication No. 75885. Among the follow ing ban ks, the one who has no obligati on to exam ine docume nts un der letter of credit is(C )A. the issu ing bankB. the con firm ing bankC. the reimburs ing bankD. the nomin ated bank86. The follow ing are the financing methods which can be used by the seller in L/C bus in ess except ( D )A. n egotiat ing the docume ntary draft to his bankA. appl ying for pack ing loa ns from his bankB. discou nti ng the time draft already accepted by the drawee bankD. Borrow ing docs from issu ing bank aga inst T/R87. The follow ing are the financing methods which can be used by the buyer in L/C bus in ess except ( D )A. appl ying for issu ing L/C with no marg in requireme nt.B. borrow ing docs from issu ing bank aga inst T/RC. tak ing the goods from shipp ing compa ny aga inst indemnity guara ntee sig ned by the issu ing bank.D. appl ying for pack ing loa ns from his bank88. A bill of ladi ng does n't fun ctio n as ( D )A. a con tract of tra nsportati onB. a receipt of goodsC a certificate of title to the goods D. an accou nting docume nt89. The drawee of a draft drawn under letter of credit may be ( C )A. the ben eficiaryB. the applica ntC. the issu ing bankD. the n egotiati ng bank90. If the bill of lading is made out to order , it must be endorsed by ( B ) so as to complete the transfer of the title to the goods .A. the carrierB. the shipperC. the no tify partyD. the nomin ated bank。