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International Settlement Test__ 1

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International Settlement Test 1学号___________ 姓名___________ 成绩_________________I. . Decide whether the following statements are true or false. (20%)1. When a check is crossed, it can be pay into a bank account and be cashed over the counter. ( F )不是所有支票都可以转账和支取现金2. If a credit is issued by telegraph, it ought to be authenticated by specimen of authorized signatures.( F )电报不用，信用3. When discounting, a time bill should already be accepted and not yet fallen due. ( T )贴现必须承兑和没过期4. F rom Bank of America New York’s view, a vostro account is a dollar account held for its overseas correspondents. ( T )5.Nostro account is an account held by a bank on behalf of a correspondent bank.( F )6.The authorized signatures are used for the authentication of the messages, letters, remittances, letter of credit, ect., addressed by the bank to its correspondent bank.( T )7.If the reimbursement says: “ In cover, we have credited the sum to your account with us.” That means the balance of “Your account” increased. ( T )8. When selecting the contract currency, the importer prefers soft currency.( T )9. A promissory note is an unconditional order in writing. ( F )10.A bill shows : Pay to ABC Co. providing the goods in compliance with contract No. 123 the sum of one thousand US dollars. It is acceptable. (F )11.A bill shows: Pay to ABC Co. out of proceeds of sale of woolen blankets the sum of one thousand US dollars. It is unacceptable. (T )12. Drawer in a bill of exchange is always the prime liability. ( F )13.If a bill is payable “ at 30 days after date” , the date of payment is decided according to the date of acceptance. ( F )14. A bill payable “ at 90 days sight” is a sight bill. ( F )15. A sight bill should be presented for acceptance. ( F )16. An endorser of a bill is liable on it to subsequent endorsers and holders of the bill. ( T )17. If a bill shows “Pay to the order of A Co. the sum of five •thousand US •dollars plus interest.”, the bill is acceptable but the clause is unacceptable. ( F ).18. A bill is discharged by payment in due course only when such payment is made by or on behalf of the drawee or the acceptor. (T )19. Anytime, the holder has the right of recourse against the other parties. ( F )20. Discounting means to sell a time bill already accepted by the drawee but not yet fallen due to a financial institution at price equal to its face value. ( F )II. Choose the best answer(s) to each of the following question. (30%)1.When selecting a bank as a correspondent bank, what factors should be taken into account?A. The reputation of the bank;B. Size of the bank;C. Location of the bank;D. Services offered by the bank;E. Fundamental policies and strength of the bank;2. A ( ) must be accepted by the drawee before payment.A. sight billB. bill payable at XX days after sightC. promissory noteD. bill payable on demandE. check3. A(n) ( ) is a financial instrument.A. bill of exchangeB. bill of ladingC. insurance policyD. promissory noteE. certificate of origin4. In order to retain the liabilities of the other parities, a bill that has been dishonored must be ( ).A. protestedB. given a notice of dishonorC. retained in the filesD. presented to the advising bankE. cancelled5. In the event of a draft being dishonored, the holder has a right of recourse against the ( ).A. drawerB. draweeC. payerD. payeeE. acceptorF. holderG. guaranteeH. endorserI. endorsee6.In correspondent banking, control documents include ( )A. Lists of specimen of authorized signaturesB.Telegraphic test keysC.Terms and conditionsD. SWIFT authentic key7. The basic party in a bill of exchange are ( )A. markerB. drawerC. draweeD. payee8. When the bill shows ( ) is negotiable.A. “ Pay to David Only”B. “ Pay to David”C. “Pay to David or order”D. “Pay to bearer”9. “Payee J. Smith endorsed James Smith pay to L. Green”, this is a ( ) endorsement.A. SpecialB. BlankC. GeneralD. Restrictive10. The effect of a blank endorsement is to make the check payable to the ( )A. order of a specified personB. Specified PersonC. BearerD. Named Person.11. ( ) has right to endorse.A. Payee.B. Endorsee C Drawee D Drawer12. Payment in due course means( )A. payment made at or after the maturity of the bill to the holderB. payment in good faithC. payment without notice that his title to the bill is defective.D. payment at once.13.The ( ) of a promissory note has prime liability while the other parties have secondary liability .A. holderB. draweeC. makerD. acceptor14. A promissory note is “ inchoate” until it has been delivered to the ( )A. payer or bearerB. payee or draweeC.payee or bearerD. holder or drawer15. A ( ) carries comparatively little risks and can be discounted at the finest rate of interest.A. sight billB. bank draftC. commercial billD. trade billIII. Practice(1)Use the following information to issue a bill of bill of exchange. (10%)Drawer: ABC Co, Beijing Drawee: XYZ Bank, LondonPayee: DEF Co. Terms: at 30 days after sightAmount: GBP 1,250.00 Date of issue: 2008-10-21Place of issue: Beijing(2)The holder of this bill is ______who must firstly present it to_________________for________________. At maturity, the holder must present it again for _______________. If the payment is made (before/ after) maturity, it is payment in due course. (5%)(3)Please made an acceptance and instructing the paying bank “Bank of China,Beijing”. Acc eptance date is 30 Oct.2008. (5%)(4). The following is the back of a draft, ____________ is the payee, _________is the first endorser, ________ is the second endorser, ____________ is the last holder, ___________ has the right to present the draft for Payment/acceptance.(5%)(5). Calculate the maturity date (10%)1. If payable “at 30 days after sight” : ____________2. If payable “at 30 days from sight”: ____________3. If payable “ at 30 days after date”: ____________4. If payable “at one month after date”: ____________5. If payable “ at half a month after sight”: ____________(6) Suppose an accepted bill for USD 50,000 falls due on June 30 and the exporter takes it to a discount bank on April 6. It the discount rate is 10%, the discount interest is ____________. Hence, the amount the exporter can get is ____________.(5%)(8)Make a promissory note( 10%)Amount: GBP 3,026.00Date and place of issue: 8/Aug/2003, Guangzhou, ChinaTenor: At 90 days after dateMaker: Guangdong Imp& Exp. Co., GuangzhouPayee: Chemicals Import&Export Company London。

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国际结算(双语)智慧树知到答案章节测试2023年山东财经大学

国际结算(双语)智慧树知到答案章节测试2023年山东财经大学

第一章测试1.Development of international settlement does not include ( ).A:From Barter to cashB:From indirect settlement to direct settlementC:From cash to non-cashD:From payment on delivery to payment against document答案:B2.Main topics of International Settlement include the following, except ( ).A:Settlement MethodsB:DocumentsC:Means of PaymentD:Risk Management答案:D3.Roles of Banks in International Settlement include the following, except ( ).A:Accounts settlementB:Financing facilityC:Asset managementD:Guarantee for risk答案:C4.When establishing correspondent banking relationship, the ControlDocuments contains ( ).A:All of the aboveB:Schedule of terms and conditionsC:Test keyD:Authorized signatures答案:A5.The most commonly used payment instrument is ( ).A:Negotiable InstrumentB:CashC:CommodityD:Barter答案:A第二章测试1.Properties of Negotiable Instruments include ( ).A:Words restrictionB:Right settingC:All of the otherD:Requisite in form答案:C2.The payer of ( ) effects payment upon presentation.A:Time DraftB:Usance BillC:Time BillD:Demand Bill答案:D3.If the payee is ( ), the draft can not be endorsed.A:Restrictive OrderB:Bearer OrderC:Indicative OrderD:Open Order答案:A4.Crossed cheque can be used to withdraw cash.A:错B:对答案:A5.When a Cheque is crossed specially, the Holder may cross it generally.A:对B:错答案:B第三章测试1.( ) is the fastest and safest way to transfer fund.A:D/DB:M/TC:T/TD:Cash答案:C2.( ) is the sender of MT103.A:Remitting BankB:Paying BankC:RemitterD:Beneficiary答案:A3.In Remittance, the Remitting Bank is also called the Exporter’s Bank.A:错B:对答案:A4.In MT103, when banking charges are shared between the Remitter and theBeneficiary, field 70A will be recorded as “OUR”.A:错B:对答案:A5.Open Account is in favor of the Importer but unfavorable for the Exporter.A:对B:错答案:A第四章测试1.Under ( ) the importer bears greater risk.A:Cash in AdvanceB:Open AccountC:None of the otherD:Payment on Delivery答案:A2.Collection Draft needs to be endorsed ( ), if the Payee is the Principal.A:Four timesB:OnceC:TwiceD:Three times答案:C3.If the Collection Instruction specifies that interest is to be collected, it muststate ( ).A:All of the otherB:The rate of interestC:Basis of calculationD:Interest period答案:A4.( ) is the bank to which the Principal has entrusted the handling of aCollection.A:Paying BankB:Collecting BankC:Issuing BankD:Remitting Bank答案:D5.Under Collection, it is recommended to mark ( ) under ‘Consignee’ of the Billof Lading.A:Name of the Remitting BankB:‘to order of Shipper’C:None of the otherD:Name of the Importer答案:B第五章测试1.Banks takes responsibility to effect payment immediately by issuing ( ).A:Acceptance CreditB:Deferred payment CreditC:Sight CreditD:Usance Credit答案:C2.When determining the date of shipment, “on or about June 11th” refer to ( ).A:June 6~16B:June 6~17C:June 7~17D:June 7~16答案:A3.The words “to”, “until”, “till”, “from” and “between” when used to determine aperiod of shipment include the date or dates mentionedA:错B:对答案:B4.The words “before” and “after” when used to determine a period of shipmentinclude the date mentioned.A:对B:错答案:B5.Partial acceptance of an amendment is not allowed and will be deemed to benotification of rejection of the amendment.A:对B:错答案:A第六章测试1.( ) will compensate the Beneficiary when the Guarantor fails to fulfill itsobligation.A:Confirming BankB:Reissuing BankC:Counter GuarantorD:Applicant答案:A2.Under Letter of Guarantee, the liability undertaken by banks is definitive andprimary.A:错B:对答案:A3.Under Letter of Guarantee, Bank will effect payment only if the Beneficiaryfails to fulfill the obligations in the commercial contract.A:错B:对答案:A4.Under Letter of Guarantee, if the Beneficiary fails to fulfill its obligation, theApplicant has the right to make claim to the Guarantor and ask forcompensation.A:错B:对答案:A5.The Counter Guarantor will compensate the Beneficiary when the Guarantorfails to fulfill its obligation.A:错B:对答案:A第七章测试1.Financial documents including the following, except（）.A:Bill of ExchangeB:InvoiceC:ChequeD:Draft答案:B2.Basic documents include the following, except ( ).A:Certificate of OriginB:Transport DocumentC:InvoiceD:Insurance Document答案:A3.( ) is not transferable. The goods can only be taken by the Consignee.A:Blank B/LB:Straight B/LC:Open B/LD:Order B/L答案:B4.( ) does not state the name of the Consignee. Anyone who holds the B/L cantake goods from the Carrier.A:Open B/LB:Order B/LC:Straight B/LD:Direct B/L答案:A5.Bill of lading is a type of financial documents.A:错B:对答案:A第八章测试1.Place for presentation include the following, except ( ).A:Remitting BankB:Issuing BankC:Nominated Bank(s)D:Confirming Bank答案:A2.The Notice of Refusal should include ( ).A:All of the aboveB:The disposal of documentC:Each discrepancy in respect of which the bank refuses to honor ornegotiateD:The bank is refusing to honor or negotiate答案:A3.Banks shall each have a maximum of ( ) banking days following the day ofpresentation to determine if a presentation is complying.A:ThreeB:TwoC:FiveD:Four答案:C4.Under Letter of Credit, the Beneficiary should submit documents to theApplicantA:对B:错答案:B5.If presenter fails to resubmit before the lastest presenting date, thedocuments are deemed with discrepancies and can not be revised.A:对B:错答案:A。

国际结算课程复习资料

国际结算课程复习资料

国际结算课程复习资料国际结算课程复习资料⼀、重点词汇英汉互译：第⼀章国际结算的介绍Correspondent Bank 代理⾏ Control Documents 控制⽂件Test key 密押 Terms and conditions 费率表Specimen of authorized signature 印鉴 SWIFT 环球银⾏⾦融电讯协会Debit (for bank) 借记Credit (for bank) 贷记Nostro account 往户账 Vostro account 来户账IMF 国际货币基⾦组织 ICC 国际商会 WBG 世界银⾏组织CHIPS 英国同业银⾏⾃动⽀付系统 CHAPS 纽约银⾏同业电⼦清算系统URC522 《跟单托收统⼀规则》 UCP 600《跟单信⽤证统⼀惯例》国际结算 International Settlement预付货款 Payment in advance 赊账 Open Account(O/A)汇款(汇付）Remittance 托收 Collection跟单信⽤证Documentary L/C 银⾏保函 Bank Guarantee第⼆章票据Recourse 追索Non-causation ⽆因性流通⼯具 Negotiable Instrument汇票 Bill of Exchange/Draft本票 Promissory Note⽀票 Check/Chequedrawer 出票⼈payer/drawee 付款⼈payee 收款⼈endorser 背书⼈acceptor 承兑⼈Holder 持票⼈Holder for value 对价持票⼈Holder in due course/Bona fide holder 正当持票⼈/善意的持票⼈汇票出票Issue 背书Endorsement）提⽰（Presentation 承兑（Acceptance保证Guarantee 付款Payment 拒付Dishonor 追索Recourse拒绝证书Protest Tenor 付款期限 Usance bill 远期汇票Blank endorsement 空⽩背书Acceptance/payment for honor参加承兑和参加付款⽀票Crossed check 划线⽀票 Uncrossed check ⾮划线⽀票 Open check 现⾦⽀票Rubber check/bad check 空头⽀票Collecting bank 托收⾏out of date 过期第三章Remittance 汇付，顺汇 Reverse remittance 逆汇Remitter 汇款⼈ Remitting bank 汇出⾏Paying bank 汇⼊⾏，解付⾏Beneficiary or payee 收款⼈，受益⼈Reimbursement of remittance cover 拨头⼨T/T 电汇 M/T 信汇 D/D 票汇 Payment in advance 预付货款Open account / payment after goods arrival 赊销 Consignment 寄售第四章Documentary collection 跟单托收Clean collection 光票托收Direct collection 直接托收 D/P at sight 即期付款交单D/P after sight 远期付款交单 D/A 承兑交单D/P.T/R/ 付款交单凭信托收据借单 Outward bills/出⼝押汇Inward bills /进⼝押汇 Principal/委托⼈Remitting Bank/托收⾏ Collecting Bank/代收⾏Drawee/付款⼈Principal’s representative in case of need/需要时的代理第五章Applicant 申请⼈ Beneficiary 受益⼈ Issuing Bank 开证⾏Advising Bank通知⾏ Confirming Bank 保兑⾏ Paying Bank 付款⾏承兑⾏Accepting Bank 议付⾏Negotiating Bank 偿付⾏Reimbursing Bank 索偿⾏Claiming Bank 寄单⾏Remitting Bankin duplicate ⼀式两份 in triplicate ⼀式三份in quadruplicate ⼀式四份 in quintuplicate ⼀式五份Confirm 保兑 Negotiate 议付 undertaking 承诺Primary liability forpayment of the Issuing Bank 开证⾏承担第⼀性付款责任Documentary Credit Nominated Bank指定银⾏soft clause软条款跟单与光票信⽤证 Documentary and clean L/C不可撤销与可撤销信⽤证 Irrevocable and revocable L/C保兑与不保兑信⽤证 Confirmed and unconfirmed L/C即期付款、延期付款、承兑和议付信⽤证，假远期信⽤证Sight、 Usance、 Acceptance and Negotiation L/C可转让与不可转让信⽤证 Transferable and Untransferable L/C循环信⽤证 Revolving L/C 对开信⽤证 Reciprocale L/C背对背信⽤证 Back to back L/C 预⽀（红条款）信⽤证）Anticipantory L/C 备⽤信⽤证 Standby L/C⼆、知识重点：第⼀章国际结算的介绍⼀、国际结算定义：（Definition）1、是指处于两个处于不同国家的当事⼈通过银⾏办理的两国间货币收付业务。

国际结算期末测试题一

国际结算期末测试题一

一、单选题1、To the exporter, the fastest and safest method of settlement is ( )A. remittance under open accountB.remittance under cash in advanceC. letter of creditD.banker’s draft正确答案：B2、To the importer, the fastest and safest method of settlement is ( )A. collectionB.letter of creditC. remittance under open accountD.remittance under cash in advance正确答案：C3、 Under a letter of credit, the exporter can receive the payment only when ( )A. he has presented the documentsB.the importer has taken delivery of the goodsC.A he has shipped the goodsD.the documents presented comply with the credit terms正确答案：D4、The trade term FOB means Free on Board named ( )A. port of shipmentB.premisesC. place of destinationD.port of destination正确答案：A5、The trade term CIF should be followed by ( )A. named port of destinationd placeC. named place of destinationd port of shipment正确答案：A6、Under the trade term ( ), the importer undertakes the least obligation.A. CIPB. B. DDPC. EXWD.DDU正确答案：B7、In documentary collection, after the goods have been shipped, the exporter presents the documents to ( )A. the opening bankB.the reimbursing bankC. the collecting bankD.the remitting bank正确答案：D8、From the point of view of a Chinese bank, ( ) is our bank’s account in the books of an overseas bank, denominated in foreign currency.A. a vostro accountB.a mirror accountC. a record accountD.a nostro account正确答案：D9、The documentary collection provides the seller with a greater degree of protection than shipping on ( )A. documentary creditB.banker’s letter of guaranteeC. banker’s draftD.open account正确答案：D10、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; importerB.Importer; importerC. Exporter; exporterD.Importer; exporter正确答案：D11、If Bank of China instructs Bank of America to pay a sum of US $ 1,000,000.00 to Midland, its nostro account will be ( )A. decreasedB.increasedC. creditedD.debited正确答案：D12、If a bill is payable “ 60 days after date”, the date of payment is decided according to ( )A. the date of presentationB.the date of maturityC. the date of acceptanceD.the date of the bill正确答案：D13、 The party to whom the bill is addressed is called the ( )A. payeeB.drawerC. holderD.drawee正确答案：D14、( ) must be accepted by the drawee before payment.A. A bill payable xx days after sightB.A promissory noteC. A bill payable xx days after dateD.A sight bill正确答案：A15、Which type of collection offers the greatest security to the exporter?A. Clean collectionB.Acceptance D/PC. Documents against acceptanceD.Documents against payment正确答案：D16、A stand-by letter of credit ( )A. is invoked in the event of non-compliance by buyer or seller with the terms of an original creditB.is not a letter of creditC. is never revokedD.is invoked in the event of non-compliance by buyer or seller with the terms of the sales contract正确答案：D17、The beneficiary of a transferred credit is ( )A. the paying / accepting / negotiating bankB.the shipperC. the producerD.the middleman正确答案：D18、The sum of the transferred credit will not be ( )A. less than in the credit before transferB.the same as in the credit before transferC. more than in the credit before transferD.equal to the original credit正确答案：C19、An applicant must reimburse an issuing bank unless he finds that ( )A. goods are defectiveB.documents received do not allow him to clear the goods through customsC. goods are not as ordered in the sales contractD.documents do not conform on the face to the terms and conditions of the credit正确答案：D20、A revocable credit can’t be amended or cancelled only after ( )A. the documents under it have been honoredB.the advising bank has notified the beneficiary of its openingC. it has been confirmed by a correspondent bankD.it has been amended once正确答案：A21、( ) gives the beneficiary double assurance of payment.A. The confirmed creditB.The irrevocable confirmed creditC. The irrevocable creditD.The revocable credit正确答案：A22、The red clause credit is often used as a method of ( )A. providing the buyer with funds after shipmentB.providing the seller with funds after shipmentC. providing the seller with funds prior to shipmentD.providing the buyer with funds prior to shipment正确答案：C二、多选题1、Under the trade term ( ), the importer need undertake to clear the goods for import into the buyer’s country.A. DDPB.FOBC. FASD.EXW正确答案：B、C、D2、Which of the following statement is correct? ( )A.It is cheaper than cable and telex.B.SWIFT was founded in 1970s.C.It’s messages are standardized formatted.D.it is a computerized international telecommunications system.正确答案：A、B、C、D3、 Which of the following is based on commercial credit?A. Bank letter of guaranteeB.Letter of creditC. CollectionD.remittance正确答案：C、D4、A(n) ( ) is a financial document.A. bill of exchangeB.bill of ladingC. commercial invoiceD.bearer bonds正确答案：A、D5、 International transactions include ( )A. goods tradeB. financial transactionsC. service tradeD. capital flows正确答案：A、B、C、D三、判断题1、True or False: Direct B/L means transshipment is not allowed. ( )正确答案：√2、 True or False: International settlements are financial activities. ( )正确答案：√3、 CANP for RMB settlement is a netting payment system. ( )正确答案：×4、True or False: In a daft, the more endorsers, the safer the payee. ( )正确答案：√5、True or False: Negotiation of L/C can be done by the issuing bank. ( )正确答案：×6、 True or False: Basic documents must be indispensable in international trade. ( )正确答案：×7、True or False: The drawer in D/D is the remitting bank, and the drawee is the paying bank. ( )正确答案：√8、True or False: Seaway bill is a non-transferable document. ( )正确答案：√9、True or False: Trade terms are important to arbitrate disagreements about sales contract. ( )正确答案：×10、True or False: Chips is more efficient than Fedware. ( )正确答案：√11、True or False: A commercial draft is a draft drawn by a bank on a firm. ( )正确答案：×12、True or False: A draft paid to a bearer is risky. ( )正确答案：√13、True or False: Credit card is to encourage consumption. ( )正确答案：√14、True or False: Consular invoice is a basic document. ( )正确答案：×15、 True or False: A transfer check can be paid by cash. ( )正确答案：×16、True or False: A check with a special crossing can be paid to the payee through any bank. ( )正确答案：×17、True or False: The headquarters of CHIPS is in New York. ( )正确答案：√18、True or False: Traveler’s check is a financial document. ( )正确答案：√19、True or False: A bill of exchange conditionally accepted can beregarded as dishonor. ( )正确答案：√20、True or False: The maker is primarily liable to a promissory note. ( )正确答案：√21、True or False: Usance L/C payable at sight provides financing to the importer. ( )正确答案：√22、SWIFT was founded to provide interbank telecommunication services. ( )正确答案：√23、 True or False: Fedware is a RTGS system. ( )正确答案：√。

国际结算练习一

国际结算练习一

国际结算练习题(一)Practices for International settlement1. Choose the true answer of the following sentences.(1).A bill shows: Pay to ABC Co. the sum of ten thousand US dollars on condition that shipment of the goods has been made.( )(A) acceptable (B) unacceptable (2).drawerpayee the first transferee the second transfereeD CE A(drawee)C ( ) is a(A) holder in due course (B) holder for value (C) holder(3)A holder of a crossed cheque wants to get payment by cash through presenting it at the counter of paying bank. ( )(A) yes (B)no(4)Draft is correctly endorsed if necessary. Draft ( ) bear restrictive endorsement “ withoutrecourse ”(A)should (B)should not(5) The person paying the money is a ( ) of the check.(A) payee (B) endorser (C) drawer (D) endorser(6) A check is valid for ( ) months from the date of issue. Unless a shorter period is written on the face of it.(A) six (B) nine (c) three (D) one(7) If a check is dated 1st Feb. 2001 was presented on the 5th Nov. 2000, it would be ( )(A) pre-dated (B) out of date (C) post dated (D) undated(8) If a check is dated 1st Feb. 2001 was presented on the 5th Nov. 2001, it would be ( )(A) pre-dated (B) out of date (C) post dated (D) undated(9) The effect of a blank endorsement is to make the check payable to the ( )(A) order of a specified person (B) specified person(C) bearer (D) named person(10) Banks usually ask for endorsement when checks in favor of ( ) payee are credited to a ( ) account.(A) joint , joint (B) joint , sole (C) bearer (D) sole ,joint(11) “ Payee James Smith endorsed James Smith pay to L. Green ”, This is a ( ) endorsement(A) specific (B) blank (C) general (D) restrictive(12) If a bill is payable “ 60 days after date ” the date of payment is decided according to ( )(A) the date of acceptance (B) the date of presentation( C ) the date of the bill (D) the date of maturity(13) A ( ) carries comparatively little risks and can be discounted at the finest rate of interest.(A) sight bill (B) bank bill (C) commercial bill (D) trade bill(14) A term bill may be accepted by the ( )(A) drawer (B) drawee (C) holder (D) payee(15) The party to whom the bill is addressed is called the ( )(A) drawer (B) drawee (C) holder (D) payee(16) When financing is without recourse, this means that the bank has no recourse to the ( ) if such drafts are dishonored.(17) Only by endorsement can the interest in the bill be transferred by ( )(A) drawer (B) drawee (C) holder (D) any person to the bill(18) A promissory note is “inchoate” until it has been delivered to the ( )(A) payer or bearer (B) payee or drawee (C) payee or bearer (D) holder or drawer(19) The ( ) of a promissory note has prime liability while the other parties have secondary liabilities(A) holder (B) drawee (C)maker (D) acceptor(20) An acceptance with the wording “ payable on delivery of bill of lading” is ( )(A) a general acceptance (B) qualified acceptance(C) non acceptance (D) partial acceptance(21) ( ) must be accepted by the drawee before payment(A) A sight bill (B) A bill payable xx days after sight(C )A promissory note (D) A bill payable xx days after date(22) A(n) ( ) is a financial document(A) bill of exchange (B) bill of lading (C) insurance policy (D) commercial invoice(23) In order to retain the liabilities of the other parties, a bill that has been dishonored must be( )(A) protested (B) given to the acceptor (C) retained in the file (D) presented to the advising bank2.Please fill the blanks of the following sentences.(1)A bill is payable at several days after sight. What date is the day from which time of payment begins to run?(2) A bill is payable at several days after date. What date is the day from which time of payment begins to run?(3)The maturity of a draft is one month after 31 Jan. It is .(4)Order of liability after acceptance is as follows: takes primary liability for payment. ________ takes second liability for payment.(5) The differences between a bill and a note are as followsA bill is an unconditional order to pay. A note is an unconditional to pay.A bill has three basic parties . A note has .(6) The differences between a bill and a cheque are as followsThe drawee of a bill may be any person. The drawee of a cheque must beThere are four kinds of tenor for the bills. The tenor is merely payableA bill can be drawn in a set. A cheque can not be drawn in a .(7)Remittance through a bank from one country to another may usually be made by one of the following methods: 1 2 3 .(8)Financial documents mean , promissory note and cheque. Commercial document mean , transport document and insurance document.(9) account means your account .(10) Control document are lists of and3、Decide whether the following statement are true or false(1) In a promissory note, the drawer and the payer are the same person. ( )(2) A promissory note is an unconditional order in writing. ( )(3) There is no acceptor in a promissory note. ( )(4) A bank draft is a check drawn by one bank on another. ( )(5) A trade bill is usually a documentary bill. ( )(6) The interest in the bill of exchange can only be transferred by endorsement. ( )(7) An endorser of a bill is liable on it to subsequent endorsers as holders of the bill. ( )(8) the person who draws the bill is called the drawer. ( )(9) Bills of exchange drawn by and accepted commercial firms are known as trade bills. (t )(10) Trade bills are usually documentary bills. ( )(11) Endorsements are needed when checks in favor of a sole payee are credited to a jointed account. ( )(12) An open check can be paid into a bank account. ( )(13) An open check can be cashed over the counter. ( )(14) A crossed check can be cashed over the counter. ( )(15) The payment of a check cannot depend upon certain conditions being met. ( t )(16) In a check, the drawer and the payer are the same person. ( )(17) If a check is presented un dated, the payee can insert a date ( )(18) A draft is a conditional order in writing. ( )(19) If a bill is payable “at 30 days after date”, the date of payment is decided according to the date of acceptance.(20) A bill payable “ at 90 days after sight” is a sight bill. ( )4.Draw a bill of exchange according to the requisite items as follows. (15 points) date: 24 Feb, 2003 amount: USD 4,242.00 tenor: 22 May, 2003drawer: Sherman Motor Incorporation, New Yorkdrawee: The Chase Bank N. A. , New Yorkpayee: Sherman Motor Incorporation’s order5..In accordance with the following conditions, please write a able text of remittance.(10 points)Remitting bank: Bank of China , Tianjin. Paying bank: Midland Bank Ltd., London.Date of cable : 10 June. Test: 3561 Ref No:208TT0992Amount: GBP 54,420.00 Value on:10 JunePayee: ABC Co., London. Account No.3698044 with Midland Bank Ltd.Message: Contract No. 201541 Remmitter: Tianjin Trust & Investment Corp., TianjinCover: Debit our H.O. account FM:TO:DA TETEST OUR REF PAY VALUE TOFOR CREDIT OF ACCOUNT NO. OFMESSAGEB/O。