Part 1 单项选择
1. Among the kinds of documentary credits subject to UCP600, from which can the beneficiary get two banks irrevocable undertaking to pay if complying documents are presented. A. Irrevocable credit B. Transferable credit C. Confirmed credit
2. Which transport document of the following is not a goods title? A. Bill of lading
B. Multimodal transport documents C. Air waybill
3. Under an irrevocable credit, who must undertake primary liability for payment? A. The applicant B. The issuing bank C. The nominated bank
4. With reference to ( ), the expression “transshipment not allowed” is not a binding term under credit transaction. A. Air transportation
B. Marine transportation C. Insurance policy
5. Silent confirmation is an arrangement made between ( ) A. Beneficiary and advising bank B. Issuing bank and advising bank C. Beneficiary and applicant
6. A credit can be transferred ( )
A. From the first beneficiary to the second beneficiary B. From the second beneficiary to the third beneficiary C. From the applicant to the beneficiary
7. As for a freely negotiable credit, which bank acts as a transferring bank?
A. the advising bank
B. the specifically authorized bank C. any negotiating bank
8. Of documentary credit and documentary collection in international trade, ( ) is better for the seller as it means a bank’s irrevocable undertaking to pay.
A. The former B. The latter C. Neither
9. Which abbreviation of the following is for uniform customs and practice for documentary credits? A. UCP B. URC C. URDG
10. ( ) means “free on board a vessel” at the loading port, for which the seller does not supply insurance documents. A. FOB B. CFR C. FCA
11. According to Incoterms 2000, which one of the below trade term is recommended when the credit requires an air waybill marked freight prepaid to the airport of destination? A. CFR B. CPT C. FCA
12. If an exporter is willing to release the shipping documents directly to the buyer, but wishes to retain some guarantee of payment should the buyer fail to pay on the due date, which of the following documentary credit best suits the exporter’s needs. A. Transferable B. Standby C. Revolving
13. How many working days does an issuing bank have to ascertain whether the documents are in compliance under a credit subject to UCP600? A. 5 B. 6 C. 7
14. Besides insurance company or its agent, the party who is also qualified to sign insurance document is ( ) A. Underwriter B. Broker C. Proxy
15. Under CUP600 what is the minimum insurance amount acceptable when the credit requires the invoice amount be CIF USD1000? A. USD1000 B. USD1100 C. USD1200
16. Collections should not contain bills of exchange payable at a future date with instructions that commercial documents are to be delivered against payment. If collections contain such a bill with such instructions, documents will be released to the drawee upon ( ) and the presenting bank is not responsible for any consequences arising out of any delay of payment. (A, 522 Art. 7 c)
A. The drawee’s payment B. The drawee’s acceptance C. A guarantee to pay
17. In the case of documents payable at sight the presenting bank must bank must make presentation for payment ( ) A. Within seven working days B. Within 3 working days