国际结算课后练习

Chapter Two

I. Decide whether the following statements are true or false.

1. Under non-trade settlement, the most common means to carry funds are cash,

traveler’s check, traveler’s letter of credit and credit card. ( )

2. Nostro account is an account (due to account) held by a bank on behalf of a

correspondent bank. ( )

3. Bills of exchange were created in the sixteenth century. ( )

4. The authorized signatures are used for authentication of the messages, letters,

remittances, letters of credit, etc .addressed by the bank to its correspondent bank.( )

5.From an American bank’s view, a Nostro account is a dollar account held for its

overseas correspondents. ( )

II.Choose the best answer to each of the following statements.

1. From the point of view of a Chine se bank, ______is our bank’s account in the

books of an overseas bank , denominated in foreign currency.

A. a vostro account

B. a nostro account

C. a mirror account

D. a record account

2. There are four main methods of securing payment in international trade:

⑴payment under documentary credit; ⑵ open account; ⑶ collection; ⑷ payment in

advance. From an exporter’s point of view, the order of preference is_______ .

A. ⑴, ⑵, ⑶ ,⑷

B. ⑷, ⑶, ⑴, ⑵

C. ⑷, ⑴, ⑶, ⑵

D. ⑵, ⑷, ⑴, ⑶

3. The documentary collection provides the seller with a greater degree of protection

than shipping on ______.

A. documentary credit

B. banker’s letter of guarantee

C. banker’s draft

D. open account

4. An exporter sells goods to a customer abroad on FOB and on CIF terms, Who is

responsible for the freight charges in each?________.

A. Importer, exporter

B. Exporter, importer

C. Importer, importer

D. Exporter, exporter

5. Foreign trade can be conducted on the following terms except for _________.

A. open account

B. documentary collection

C. documentary credit

D. public bonds

6. A bank gets to know its exact position of funds by _________.

A. reflecting the credit balance

B. examining the mirror account

C. consulting a foreign bank

D. checking the nostro account

7. 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. credited

B. debited

C. increased

D. decreased

8. Statements of balance of international payment don’t include:

A. current account

B. capital account

C. balancing account

D. visible account

9. Cash settlement is effected by shipping ______ taking the form of coins, bars or

bullions.

A. precious metals

B. gold

C. silver

D. notes

10. International cash settlement has the following disadvantages except _______ .

A. expensive

B. safe

C. risky

D. time-consuming

Chapter Three

I.Decide whether the following statements 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 and holders of the bill.

( )

8. The person who draws the bill is called the drawer.( )

9. Bills of exchange drawn by and accepted by commercial firms are known as

trade bills. ( )

10. Trade bills are usually documentary bills. ( )

11. Endorsements are needed when checks in favor of a sole payee are credited to

a joint 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.

( )

16. In a check, the drawer and the payer are the same person. ( )

17. If a check is presented undated, 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 sight” is a sight bill.( )