国际结算练习一

国际结算练习题(一)
Practices for International settlement
1. 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).drawer
payee the first transferee the second transferee
D C
E 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 “ without
recourse ”
(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(A) pre-dated (B) out of date (C) post dated (D) undated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(A) pre-dated (B) out of date (C) post dated (D) undated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 bank
2.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 follows
A 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 follows
The drawee of a bill may be any person. The drawee of a cheque must be
There are four kinds of tenor for the bills. The tenor is merely payable
A 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 and
3、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, 2003
drawer: Sherman Motor Incorporation, New York
drawee: The Chase Bank N. A. , New York
payee: Sherman Motor Incorporation’s order
5..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:208TT0992
Amount: GBP 54,420.00 Value on:10 June
Payee: ABC Co., London. Account No.3698044 with Midland Bank Ltd.
Message: Contract No. 201541 Remmitter: Tianjin Trust & Investment Corp., Tianjin
Cover: Debit our H.O. account FM:
TO:
DA TE
TEST OUR REF PAY VALUE TO
FOR CREDIT OF ACCOUNT NO. OF
MESSAGE
B/O。