金陵科技学院国际结算英文版习题集

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国际结算选择题(附答案)140题(2022年整理)

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%。

国际结算英文选择题90(附问题详解)

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。

国际结算英语试题及答案

国际结算英语试题及答案一、单选题（每题2分，共10题，满分20分）1. 国际结算中常用的支付方式不包括以下哪一项？A. 信用证B. 托收C. 汇款D. 现金支付答案：D2. 信用证的开证行是指：A. 申请人的银行B. 受益人的银行C. 开立信用证的银行D. 通知信用证的银行答案：C3. 托收业务中，代收行是指：A. 委托行的代理银行B. 申请人的银行C. 受益人的银行D. 开证行答案：A4. 汇款业务中，汇款人是指：A. 付款方B. 收款方C. 银行D. 任何第三方答案：A5. 在信用证结算方式中，受益人提交的单据不符合信用证条款时，开证行将：A. 无条件付款B. 拒绝付款C. 保留付款D. 延迟付款答案：B6. 国际结算中，汇票的付款期限通常分为即期和：A. 远期B. 定期C. 延期D. 长期答案：A7. 国际结算中，银行保函通常用于：A. 贸易融资B. 项目投标C. 信用担保D. 以上都是答案：D8. 信用证结算方式中，如果信用证过期，受益人将：A. 无法使用信用证B. 可以延期使用C. 可以部分使用D. 可以全额使用答案：A9. 在国际结算中，D/P（付款交单）和D/A（承兑交单）的主要区别在于：A. 交单时间B. 付款时间C. 交单地点D. 付款方式答案：D10. 国际结算中，SWIFT是指：A. 环球银行金融电信协会B. 国际货币基金组织C. 世界贸易组织D. 国际商会答案：A二、多选题（每题3分，共5题，满分15分）1. 国际结算中，以下哪些属于贸易术语？A. FOBB. CIFC. DDPD. T/T答案：A, B, C2. 信用证结算方式中，以下哪些属于信用证的特点？A. 银行信用B. 独立性C. 可转让性D. 无条件性答案：A, B3. 国际结算中，以下哪些属于支付方式？A. 信用证B. 托收C. 汇款D. 现金支付答案：A, B, C4. 国际结算中，以下哪些属于汇票的类型？A. 商业汇票B. 银行汇票C. 即期汇票D. 远期汇票答案：A, B, C, D5. 在国际结算中，以下哪些属于银行保函的类型？A. 投标保函B. 履约保函C. 预付款保函D. 质量保函答案：A, B, C, D三、判断题（每题1分，共5题，满分5分）1. 信用证是一种无条件的支付承诺。

国际结算英文选择题90(附答案)

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 ovf iew , 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. USD B. GBP C.EUR D.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 th（e 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 th(e C ) A. correspondent arrangement B. 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 whe(n 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 exrpessed 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 asin, 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 asin, cover, we have authorized Bank A to debit our A/C and credit your A/C with them?, the A/C relationshipbetween 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 asin, 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?scorrespondent 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. seller B. buyer C. remitting bank D. collecting bank58. In collection business, the drawee of the draft for collection is ( B ) A. seller B. buyer C. remitting bank D. 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. EXW B. FOB C. CFR D. 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 transportedby 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 ladin”g. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be ( B ) A. Sep. 24 ,2008 B. Sep. 25 ,2008 C. Sep. 26 ,2008 D. 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。

国际结算英文版2.3-2.4 Notes and Cheques

Copyright by Fei Zhonglin School of Economics and Management, NJUT12.3 Promissory notes (P/N)UBEA ：A promissory note isan unconditional promise in writingmade by one person to another signed by the maker engaging to payon demand or at a fixed or determinable future timea sum certain in money to the payee, or to the order of, a specified person or to bearer.中国票据法定义：本票是出票人签发的、承诺自己在见票时或在指定的日期无条件支付确定金额给收款人或持票人的票据。

①Issue ②present forpaymentDrawer (Maker)PayeeCopyright by Fei Zhonglin School of Economics and Management, NJUT3Specimen of a noteGeneral Promissory Note ( Trader ’s note )Promissory Note for USD12,345.00 Tianjin,12 Nov.2001At 60 days after sight, we promise to pay to the order of ABC Trade Co.the sum of US Dollars Twelve Thousand Three Hundred and Forty Five only.For Tianjing Textile Co.signedCopyright by Fei Zhonglin School of Economics and Management, NJUT 42.3.4 Differences between a bill and a noteUnconditional order vs. unconditional promise Basic partiesIn fact, most of acts relating to bills are also of relevance to notes, but there ’re some exceptions:acceptance;presentment for acceptance (Geneva Uniform Law: visa); acceptance for honor supra protest; bills in a set; Specimen of a billsee P.74Copyright by Fei Zhonglin School of Economics and Management, NJUT 52.3.5 Types of notesBased on the maker :The maker is a trader --Trader ’s note 商业本票/一般本票The maker is a banker--Banker ’s note 银行本票 Usually it is payable on demand and iscustomarily called “Casher ’s order ”出纳指示; China: Promissory notes = banker ’s notesCopyright by Fei Zhonglin School of Economics and Management, NJUT 6Other banker ’s noteInternational money order 国际小额本票Central banker ’s note 中央银行本票e.g. Treasury bills 国库券Negotiable certificate of deposit 流通存单Copyright by Fei Zhonglin School of Economics and Management, NJUT72.4 ChequesUBEA ：A cheque is a bill of exchange drawn on a banker payable on demand.A three-party instrument, the drawee is a bank Payable on demand中国票据法定义：支票是出票人签发的，委托办理支票存款业务的银行在见票时无条件支付确定金额给收款人或持票人的票据。

【7A版】《国际结算》习题集

《国际结算》习题集（80个选择题，30个英文简答题，10个中文简答题）第一章总论1.Incoterms20GG定义的11种价格条款中，卖方能较好地控制交货程序以能选择运输及保险的是（A ）。

A.C组B.F组C.E组D.前三者都错误2.出口信用保险（ECI）防范（B ）。

A.出口商信用风险B.进口商信用风险C.出口国外汇管制风险D.进口国货币升值风险Q1WhatdoesFOBmean?Whopaysthefreight?FOBmeans‘freeonboard’.Buyerpaysallcostsaftergoodshavebeendelive redovershipsrail.Q2WhatbasicdocumentsmustbesuppliedforaCIFShipment?Cost,freightprepayment,billoflading,insurancedocuments.Q3AbuyerinTurkeybuysthreecombineharvestersfromaneGporterinPariso neGworkstermsforshipmenttoIzmir–listthecoststobebornebythebuyer. TransporttoportofshipmentOceanfreight. Transporttoportofdestinationinsurance.I.采用FOB价格条款和OA支付条款时出口商的风险如何？FOB条款下出口商不负责保险，只在船上交货，运费到付，风险较低。

OA（overaccount）：赊销、货到付款。

如果进口商违约拒付，出口商最后得到受损货物，托运和投保不由自己控制。

第二章往来银行与银行间支付系统3.国际往来银行关系中不关涉账户关系的是（D ）。

A.来账B.往账C.联行D.一般代理行4.SWIFT是（B ）的缩写。

A.美元清算支付系统B.环球银行金融电讯协会C.英镑清算支付系统D.港币清算支付系统第三章国际贸易结算票据5.出票包括（C ）。

国际结算英文选择题90(附答案)(可编辑修改word版)

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。

国际结算课堂习题集

1. Remitting bank: Bank of China, TianjinPaying bank: Bank of China, LuxemburgDate of cable: 9 JuneTest: 2563Ref No.: 208TT219Amount: USD1,660.00Payee: Marie Clauda Dumont, Luxemburg, account No. 0-1647295/550 with Banque International du LuxemburgMessage: PayrollRemitter: Crystal Palace Hotel, TianjinCover: Debit our H. O. accountFM:__________________________________________________TO:___________________________________________________DA TE::___________________________________________________TEST ________________OUR REF _________________NOT ANY CHARGES FOR USPAY:___________________________________________________TO:___________________________________________________FOR CREDITING ACCOUNT NO. ________________________________OF______________________________MESSAGE _________________________ORDER __________________________________________________COVER __________________________________________________2. Remitting bank: Bank of China, TianjinPaying bank: midland Bank Ltd., LondonDate of cable: 10 JuneTest: 3561Ref No.: 208TT099Amount: GBP54,420.00Payee: Anglo International Co. Ltd., London account No. 36998044 with Midland Bank Ltd. Message: Contract No. 201541Remitter: Tianjin International Trust & Investment Corp., TianjinCover: Debit our H. O. accountFM:__________________________________________________TO:___________________________________________________DA TE::___________________________________________________TEST ________________OUR REF _________________NOT ANY CHARGES FOR USPAY:___________________________________________________TO:___________________________________________________FOR CREDITING ACCOUNT NO. ________________________________OF______________________________MESSAGE _________________________ORDER __________________________________________________COVER __________________________________________________3. MT 100 CUSTOMER TRANSFERDATE: 981206SENT TO: BKCHCNBJ200BANK OF CHINA, TIANJIN: FM: 04HSBCHK25264HONGKONG AND SHANGHAI BANKING CORPORATION, HONGKONG: 20: TRN: TT-HKH315064BACP:32A: V ALUE DATE/CUR CODE/AMTDA TE: 9811206 CURRENCY CODE: CNY AMOUNT: 6,859.58: 50: ORDERING CUSTOMER:ARTHUR ANDERSEN AND CO.: 57s: “ACCOUNT WITH” BANK:BANK OF CHINA, TIANJIN BR., TIANJIN, CHINA: 59: BENEFICIARY CUSTOMERTIANJIN INTERNA TIONAL TAXATION CONSULTING BUREAU: 70: DETAILS OF PAYMENT:PAYMENT TO RENT AND TAX FOR NOV. 1998: 71A: DETAILS OF CHARGES: BENEFICIARY: 72: BANK TO BANK INFORMA TION:IN COVER SETTLE THRU OUR CNY A/C 111-01081 WITH YOUR BEIJING HEAD OFFICEIn accordance with above SWIFT Message Type 100, please write a cable text of remittance.________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________4.If the paying bank maintains a current account with the remitting bank or the paying bank opens a current a/c with the remitting bank，please write the reimbursement instruction.5. If the remitting bank has a a/c with the paying bank, please write the reimbursement instruction.6. If there is no vostro or nostro account between the remitting bank the paying bank, but both of them maintain current accoun with ABC bank. please write the reimbursement instruction.Please answer, fill the blanks in or make choice of the following questions:1. Collection means the handling by banks of documents in accordance with instructions received in order to(1) obtain payment and/or __________________or(2) deliver documents against __________________and /or against acceptance.(3) deliver documents on_________________2. Financial documents mean ______________________, promissory notes, cheques, Commercial documents mean ____________________, transport documents , documents title or other similar documents.3. There are three kinds of collections, namely:(1) ____________________________ collection;(2) ____________________________collection;(3) ____________________________collection;4. Clean collection means collection of financial documents not accompanied by _________________.5. Documentary collection means collection of(1) financial documents accompanied by ______________________, or(2) commercial documents not accompanied by ___________________________________.6. Because the documents under direct collection are remitted by the ______________ directly to the collecting bank, they are not routed through the __________________ bank, so direct collection is not incorporated in the URC NO. 522.7. ICC Publication No. 522 says that the collection form attaching with the documents under direct collection must indicate that:(1) the collection is subject to _____________and(2) the collection is to be treated by the _________________- bank as though it was received from the _______ bank.8. How many parties are there in a collection?(1) _____________________( or seller)(2) ____________________(3) _____________________bank/______________bank(4) ____________________( or buyer)9. The collection which is to be handle by the exporter’s remitting bank is called __________, its abbreviation is ____________ while that is to be handled by the importer’s collecting bank is called ___________________________, its abbreviation is _______________________.10. The responsibility of the principal is that the party must prepare the _______________ in his application to ensure the terms for the delivery of documents are clearly and unambiguously stated.11. The responsibilities of the banks are that banks are only permitted to act upon the instructions given by the principal in the _____________________ and in accordance with ________________.12. URC 522 says charges to be collected indicating whether they may be waived or not, and interest to be collected indicating rate of interest, interest period, basis of calculation (e.g. 360 or 365 days in a year). Look at the following two instructions for collection of interest charges and tell which one is preferable.(1)□Please collect interest for delay in payment effected later than maturity of collection bill from the drawee.(2)□Please collect interest for delay in payment calculated from the maturity to the date of actual payment at the rate of 6% per annum on the basis of 360 days a year from the drawee. 13. Whether the collection charges levied by the banks are to be borne by the ________________- or the __________________should agree upon previously and indicate on the application. If the matter of charges has not been settled, the banks will collect their charges from the _____________,14. If the seller may attempt to have the buyer paid the collection charges with instruction to waive them if refused, the collection bank could not collect them from the buyer, then the collection charges will be for account of the ______________________.15. If the seller wishes to have the buyer paid the collection charges with instruction to prohibit the waiving of them, the payment or acceptance of collection bill may be delayed, the banks are not _____________________ for any consequence arising from such prohibition.16. The payee of the clean bill must make a _______________endorsement and remitting bank must make a ______________ endorsement to the collecting bank before sending it to the latter.17. Collection instruction should bear a complete or detailed ______________ of the drawee at which ________________________ is to be made. If the _____________________ is so simple as to be unable to present, collecting bank is not responsible for it.18. URC 522 says to give instructions in case of non-payment or non-acceptance. Look at the following two instructions and tell which one is preferable.(1)□In case of non-payment or non-acceptance, please advise us by cable/airmail stating reasons.(2)□We will give instructions to you upon receipt of cable/airmail advice of non-payment or non-acceptance stating reasons.19. URC 522 says that the collection instructions should state the exact period of time and expressions such as “prompt”, “immediate”, “first” and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used, banks will disregard them.Look at the following sentences and determine which one agrees to the above requirement. (1)□When collection bill is presented by the collecting bank for acceptance, it must be accepted immediately.(2)□When collection bill is presented by the collecting bank for acceptance, it must be accepted within 24 hours.20. (1)□In case of non-payment/non-acceptance, an advice must be promptly given to the remitting bank.(2)□In case of non-payment/non-acceptance, an advice must be given on the day following the date of dishonor.21. URC 522 says that goods should not be consigned to or to the order of a bank without prior agreement on the part of that bank.Put X in relative check boxes of the following sentences to express the consignee of B/L corresponding with above stipulating or usual practice.(1)□B/L consigned to order and blank endorsed(2)□B/L consigned to order and collecting bank(3)□B/L consigned to order of shipper and blank endorsed(4)□B/L consigned to order of Bank of China, London(5)□B/L consigned to order of buyer22. Terms of delivery of documents are as follows:(1) Delivery of documents against ___________________, its abbreviation ___________.(2) Delivery of documents against ___________________, its abbreviation ___________.(3) Delivery of documents against payment of a ______________________.(4) Delivery of documents against part of collection to be _____________________ and the balance by way of the _________________________________ of a separate draft payable at a future date.(5) Delivery of documents against ___________________.(6) Delivery of documents against ___________________.(7) Delivery of documents against ___________________to pay.23. In respect of clean collection permitting partial payments, the delivery of clean bill to buyer when(1)□the first partial payment has been received, or(2)□full payment has been received.24. In respect of documentary collection permitting partial delivery of goods against partial payment, the delivery of the attached documents to the buyer when(1)□the first partial payment has been received, or(2)□full payment has been received.25. URC 522 says that the principal nominates a representative to act as case-of-need. The collection instruction should clearly and fully indicate the power of such case-of-need. Look at the following two instructions and tell which one is preferable.(1)□Special instruction: In case of need refer to Smith & Jones Co., 00 Rue des Achetuer, Paris.(2)□Special instruction: In case of need refer to Smith & Jones Co., 00 Rue des Achetuer, Paris whose authority is limited to assisting in having draft honored.26. To initiate a collection, the principal must complete an(1)□application for collection containing his instructions(2)□letter of instructionsand send it together with financial and commercial documents to the _________________________.The remitting bank must in accordance with application for collection complets a(3)□transmittal letter(4)□collection instruction.and dispatch it together with financial and commercial documents to the ___________________.The collecting bank are only permitted to act in good faith upon the instructions given in such ________________________________.27. (1) China National Instruments Imp. & Exp. Corp., Tianjin Branch, Tianjin (Principal ) wishes to issue a draft dated 14 July, 200X drawn on Continental CO., 46 Rue de Ancient, Paris (drawee) at sight for USD1,200.00 payable to the order of Bank of China, Tianjin (remitting bank) which will make a special endorsement to Banque deu Paris, Paris marked “Drawn against shipment of 20 sets of transistors shipped per s.s. Chenghua from Tianjin to Le Harve for collection”.(2) The principal presents an application for collection accompanied by draft and documents to the remitting bank for collection.An application for collection shows as follows:Commercial documents surrendered are below:B/L in triplicateInvoice in triplicateInsurance policy in duplicateCertificate of origin in duplicatePacking list in duplicateCollection instruction are given below:Deliver documents against paymentRemit the proceeds by airmailAirmail advice of paymentCollection charges outside China from drawee, waive if refused by him.Airmail advice of non-payment with reasonsProtest waivedWhen collected, please credit proceeds to principal’s account with remitting bank.Remitting bank complete a collection instruction in accordance with principal’s application to add other requirements as follows:Ref. No. OC2576459Date: 15 July, 200XPlease collect and remit proceeds to Bank of China, New York for credit of our account with them under their advice to us.Please produce a collection instruction attaching draft and documents to be forwarded to the collecting bank, Banque du Paris, Paris。

国际结算练习二.doc

国际结算练习题(二)Practices for International settlement1.Choose the true answer of the following sentences.(1)the principal is generally the customer of a bank who prepares documentation and submits them to the bank with a collection order for payment from thebuyer( drawee).A.remittingB. collectingC. presentingD. correspondent(2)which type of collection offers the greatest security to the exporter?A.documentary against acceptanceB. documentary against paymentC. clean collectionD. Acceptance D/P(3)is an arrangement whereby the seller obtains his bank's pre-numbered direct collection letter, thus enabling him to send his documents directly to his bank's correspondent bank for collection.A.Clean collectionB. Documentary against paymentC. Direct collectionD. documents against acceptance(4)Which of the following is not the obligation of the trustee?A.To arrange for the goods to be warehoused and insured in the trustee's name.B.To pay all the proceeds of sale to the bank or to hold them on behalf the bank.C.Not to put the goods in pledge to other personsD.To settle claims of the bank prior to liquidation in case of the trustee's bankruptcy.(5)Which of the following is not a risk that the exporter assumes on documentary collection basis?A.Non-acceptance of merchandiseB.Harm to the reputation due to dishonor.C.Exchange restrictionD.Non-payment of trade acceptance.(6)Clients of a factoring are thus able to eliminate or reduce the need of credit, ( )and other related administrative activities .A. knowledge of the marketB. bookkeepingC. competitive open account selling termsD. bad debts(7)the factor may grant financing to the client prior to the maturity of the invoice byA.purchasing the latter's account receivables.B.sending a copy of invoice to the factor.C.indicating that the invoice is payable to the factor.D.collecting payment from the client's customer(8)The factor charges the client a fee for his services based on elements such as annual sales volume, , quality of client's customer list and length of trade terms.A. creditworthinessB. credit standingC. interestD. average invoice size(9)in a factoring, the seller get access to finance linked to his •A. overdraft limitB. historic balance sheet ratiosC. current levels of businessD. sales prospect(11)URC522 says charges to be collected indicating whether they may be waived or not, and interest to be collected indicating rate of interest, interest period, basis of calculation. Look at the following two instruction for collection of interest charges and tell which one is preferable.A.Please collect interest for delay in payment effected later than maturity for collection bill from the drawee.B.Please collect interest for delay in payment calculated from the maturity to the date actual payment at the rate of 6% per annum on the basis 360 days a year from the drawee Waive/do not waive interest if refused by the drawee.(12)URC522 says that the collection instruction should state the exact period of time and expressions such as prompt immediate first and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used, banks will disregard him.Look at the following sentences and determine which one agrees to the above requirement.()A.When collection bill is presented by the collecting bank for acceptance, it must beaccepted immediately.B.When collection bill is presented by the collecting bank for acceptance, it must beaccepted within 24 hours.C.In case of non-payment/non-acceptance, an advice must be promptly given toremitting bank.D.In case of non payment /non-acceptance, an advice must be given on the dayfollowing the date of dishonour.(13)URC522 says that the goods should not be consigned to or to the order of a bank without prior agreement on the part of that bank.Which of the following sentences are corresponding with above stipulation or usual practice.A.B/L consigned to order and blank endorsed.B.B/L consigned to order of collecting bankC.B/L consigned to order of shipper and blank endorsed.D.B/L consigned to order of Bank of China, London.E.B/L consigned to order of buyer.(14)In respect of documentary collection permitting partial delivery of goods against partial payment, the delivery of the attached documents to the buyer whenA.the first partial payment has been received ,orB.full payment has been received.(15)In respect of clean collection permitting partial payment, the delivery of clean bill to the buyer whenA.the first partial payment has been received ,orB.full payment has been received.(16)URC522 says that the principal nominates a representative to act as case of need. The collection instruction should clearly and fully indicate the power of such case of need. Look at the following two instructions and tell which one is preferable.A.Special instruction: In case of need refer to Smith & Jones Co., 99Rues des Achetuer, Paris.B.Special instruction : In case of need refer to Smith & Jones Co., 99Rues des Achetuer, Paris whose authority is limited to assisting in having draft honoured.2.Please fill the blanks of the following sentences.(1)If the collecting bank is not located near the importer, it would send the documents to a in the importer's city.(2)In a documentary collection the bank, acting as the exporter's agent, regulates the timing and subsequent of the exchange of the goods for value by holding the documents until the importer either or(3)The clean collection method lacks the protection of the documentary collection. It is generally used in countries where a draft is needed for purpose or because it is required by .(4)Under documents against acceptance, after acceptance, the buyer gains possession of the goods before and is able to dispose of the goods as he wishes.(6) is a banking business in which a bank acting as the collecting bank receives the draft with or without shipping documents attached as well as the instruction from a bank abroad and endeavors to collect the payment or obtain the acceptance from the importers.(7)Collection bill purchased involves great risk for for lack of bank's guarantee, so they are seldom willing to do so.(8)the collection bank authorizing the release of title document on must realize that this financing requires a great of confidence in the reputation, honesty, and integrity of the customer acting as trustee.(9)Under , the seller issues a draft. The collecting bank presents the draft to buyer. When the buyer sees it he must pay the money at once, then he can get the shipping documents.(10)The remitting bank sends to the collecting/presenting bank in the importer's country that notifies the importer(11)The essence of factoring is the discounting of on a basis.(12)Factor assumes the responsibility for without recourse to the client.(13)The factor acts as manager of the exporter's sales and provides his client with finance based on as well as an evaluator of the importer's creditworthiness.(14)By without recourse, factoring can protect the clients from risk of loss so long as merchandise quality, quantity and terms meet the requirements of sales contract between the client and his customer.(15)In a factoring business the factor assumes responsibility for the invoice including credit cover against customer's insolvency.(16)Generally 80% of the invoice face value is immediately available to the seller The balance is payable within a fixed number of days after or when .(17)Forfeiting is a medium-term business in the sense that only those maturities from six months to five or six years are to be considered. However, every forfeiter will impose his own limits, to be determined by and •(18)Under forfeiting there is no risk of and no changes in the status of the debtor . All exchange risks, buyer risks, and country risks are removed.。

国际结算英语试题及答案

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,。

国际结算练习二

国际结算练习题(二)Practices for International settlement1.Choose the true answer of the following sentences.（1）the principal is generally the customer of a bank who prepares documentation and submits them to the bank with a collection order for payment from the buyer( drawee).A. remittingB. collectingC. presentingD. correspondent(2) which type of collection offers the greatest security to the exporter?A. documentary against acceptanceB. documentary against paymentC. clean collectionD. Acceptance D/P(3) is an arrangement whereby the seller obtains his bank’s pre-numbered direct collection letter, thus enabling him to send his documents directly to his bank’s correspondent bank for collection.A. Clean collectionB. Documentary against paymentC. Direct collectionD. documents against acceptance(4) Which of the following is not the obligation of the trustee?A. To arrange for the goods to be warehoused and insured in the trustee’s name.B. To pay all the proceeds of sale to the bank or to hold them on behalf the bank.C. Not to put the goods in pledge to other personsD. To settle claims of the bank prior to liquidation in case of the trustee’s bankruptcy.(5) Which of the following is not a risk that the exporter assumes on documentary collection basis?A. Non-acceptance of merchandiseB. Harm to the reputation due to dishonor.C. Exchange restrictionD. Non-payment of trade acceptance.(6) Clients of a factoring are thus able to eliminate or reduce the need of credit, （）and other related administrative activities .A. knowledge of the marketB. bookkeepingC. competitive open account selling termsD. bad debts(7) the factor may grant financing to the client prior to the maturity of the invoice by AA. purchasing the latter’s account receivables.B. sending a copy of invoice to the factor.C. indicating that the invoice is payable to the factor.D. collecting payment from the client’s customer.(8) The factor charges the client a fee for his services based on elements such as annual sales volume, , quality of client’s customer list and length of trade terms.A. creditworthinessB. credit standingC. interestD. average invoice size(9) in a factoring, the seller get access to finance linked to his .A. overdraft limitB. historic balance sheet ratiosC. current levels of businessD. sales prospect(11) URC522 says charges to be collected indicating whether they may be waived or not, and interest to be collected indicating rate of interest, interest period, basis of calculation. Look at the following two instruction for collection of interest charges and tell which one is preferable.A. Please collect interest for delay in payment effected later than maturity for collection bill from the drawee.B. Please collect interest for delay in payment calculated from the maturity to the date actual payment at the rate of 6% per annum on the basis 360 days a year from the drawee Waive/do not waive interest if refused by the drawee.(12) URC522 says that the collection instruction should state the exact period of time and expressions such as prompt immediate first and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee. If such terms are used, banks will disregard him.Look at the following sentences and determine which one agrees to the above requirement.( )A.When collection bill is presented by the collecting bank for acceptance, it must beaccepted immediately.B.When collection bill is presented by the collecting bank for acceptance, it must beaccepted within 24 hours.C.In case of non-payment/non-acceptance, an advice must be promptly given toremitting bank.D.In case of non payment /non-acceptance, an advice must be given on the dayfollowing the date of dishonour.(13) URC522 says that the goods should not be consigned to or to the order of a bank without prior agreement on the part of that bank.Which of the following sentences are corresponding with above stipulation or usual practice.A.B/L consigned to order and blank endorsed.B.B/L consigned to order of collecting bankC.B/L consigned to order of shipper and blank endorsed.D.B/L consigned to order of Bank of China, London.E.B/L consigned to order of buyer.(14) In respect of documentary collection permitting partial delivery of goods against partial payment, the delivery of the attached documents to the buyer whenA. the first partial payment has been received ,orB. full payment has been received.(15) In respect of clean collection permitting partial payment, the delivery of clean bill to the buyer whenA. the first partial payment has been received ,orB. full payment has been received.(16) URC522 says that the principal nominates a representative to act as case of need. The collection instruction should clearly and fully indicate the power of such case of need. Look at the following two instructions and tell which one is preferable.A. Special instruction: In case of need refer to Smith & Jones Co., 99Rues des Achetuer, Paris.B. Special instruction : In case of need refer to Smith & Jones Co., 99Rues des Achetuer, Paris whose authority is limited to assisting in having draft honoured.2.Please fill the blanks of the following sentences.(1) If the collecting bank is not located near the importer, it would send the documents to a in the importer’s city.(2)In a documentary collection the bank, acting as the exporter’s agent, regulates the timing and subsequent of the exchange of the goods for value by holding the documents until the importer either or(3) The clean collection method lacks the protection of the documentary collection. It is generally used in countries where a draft is needed for purpose or because it is required by .(4) Under documents against acceptance, after acceptance, the buyer gains possession of the goods before and is able to dispose of the goods as he wishes.(6) is a banking business in which a bank acting as the collecting bank receives the draft with or without shipping documents attached as well as the instruction from a bank abroad and endeavors to collect the payment or obtain the acceptance from the importers.(7) Collection bill purchased involves great risk for for lack of bank’s guarantee, so they are seldom willing to do so.(8) the collection bank authorizing the release of title document on must realize that this financing requires a great of confidence in the reputation, honesty, and integrity of the customer acting as trustee.(9) Under , the seller issues a draft. The collecting bank presents the draft to buyer. When the buyer sees it he must pay the money at once, then he can get the shipping documents.(10) The remitting bank sends to the collecting/presenting bank in the importer’s country that notifies the importer.(11) The essence of factoring is the discounting of on a basis.(12) Factor assumes the responsibility for without recourse to the client.(13) The factor acts as manager of the exporter’s sales and provides his client with finance based on as well as an evaluator of the importer’s creditworthiness.(14) By without recourse, factoring can protect the clients from risk of loss so long as merchandise quality, quantity and terms meet the requirements of sales contract between the client and his customer.(15) In a factoring business the factor assumes responsibility for the invoice including credit cover against customer’s insolvency.(16) Generally 80% of the invoice face value is immediately available to the seller. The balance is payable within a fixed number of days after orwhen .(17) Forfeiting is a medium-term business in the sense that only those maturities from six months to five or six years are to be considered. However, every forfeiter will impose his own limits, to be determined by and .(18) Under forfeiting there is no risk of and no changes in the status of the debtor . All exchange risks, buyer risks, and country risks are removed.。

国际结算期末试题及答案英文

国际结算期末试题及答案英文International Settlement Final Exam Questions and AnswersQuestion 1:Explain the concept of international settlement and its importance in global transactions.Answer:International settlement refers to the process of exchanging payments between parties involved in cross-border transactions. It involves the transfer of funds from the buyer to the seller in a secure and transparent manner, ensuring that both parties fulfill their financial obligations. International settlements are crucial in facilitating global trade, as they provide a mechanism for international payments, reducing risks and uncertainties associated with cross-border transactions.Question 2:Describe the different types of international settlement systems and their characteristics.Answer:There are several types of international settlement systems, each with its own characteristics. They include:1. Cash in advance: This method requires the buyer to make full payment before the goods are shipped. It offers a high level of security to theseller but can be a deterrent to potential buyers who may be unwilling to make upfront payments.2. Letters of credit (LC): LCs are widely used in international trade. It involves a bank guaranteeing payment to the seller upon receiving proper documentation. This method offers security to both the buyer and the seller, as the bank verifies compliance with the terms of the LC.3. Documentary collection: This method involves the use of banks to facilitate the exchange of documents and payment between buyers and sellers. It provides less security than LCs but is relatively cheaper and less complex.4. Open account: In this method, the seller ships the goods and invoices the buyer, who agrees to make payment within an agreed-upon time frame.It offers flexibility to the buyer but poses risks to the seller, as there is no assurance of payment.Question 3:Explain the role of SWIFT in international settlements.Answer:The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global network that facilitates secure communication and transmission of financial information between financial institutions. SWIFT plays a significant role in international settlements by providing a standardized platform for banks to exchange payment instructions, messages, and other related information. It ensures the safe and efficient transmissionof payment orders, enabling timely and accurate settlement of cross-border transactions.Question 4:Discuss the challenges and risks associated with international settlements.Answer:International settlements come with their own set of challenges and risks, including but not limited to:1. Currency exchange risk: Fluctuations in exchange rates can impact the value of payments made or received in different currencies. This exposes the parties involved to potential losses.2. Regulatory compliance: Different countries have varying regulations and compliance requirements for international settlements. Failure to adhere to these regulations can lead to penalties or legal complications.3. Payment delays: Delays in international settlements can occur due to issues such as documentation errors, processing delays, or technical difficulties. These delays can disrupt business operations and strain relationships between the parties involved.4. Counterparty risk: There is always a risk of the counterparty defaulting on their payment obligations, especially when dealing with unfamiliar entities or in economically unstable regions.Question 5:Outline the best practices for successful international settlements.Answer:To ensure successful international settlements, it is essential to follow these best practices:1. Clear and comprehensive contracts: Contracts should clearly define the terms and conditions of the transaction, including payment terms, currency, and dispute resolution mechanisms.2. Proper due diligence: Conduct thorough research and background checks on potential trading partners to assess their credibility and financial stability.3. Risk mitigation techniques: Implement risk management strategies, such as hedging currency exchange risks or using payment instruments with higher security, like letters of credit.4. Effective communication: Establish clear lines of communication between all parties involved in the transaction to address any issues promptly.5. Compliance with regulations: Stay up to date with the latest regulations and ensure compliance with them to avoid any legal complications.6. Regular monitoring and reconciliation: Monitor the progress of the settlement process and reconcile any discrepancies promptly to maintain accuracy and transparency.Conclusion:International settlements play a critical role in facilitating cross-border transactions and ensuring the smooth flow of global trade. Understanding the different settlement systems, the role of SWIFT, and the associated challenges and risks is essential for conducting successful international transactions. By adhering to best practices, businesses can mitigate risks and improve the efficiency of their international settlement processes.。

国际结算英文版课后练习答案

国际结算英⽂版课后练习答案Chapter One1. Fill in the blanks to complete each sentence.(1) local legal system, political, exchange risks(2) open account, advance payment, remittance and collection(3) letter of credit, bank guarantee(4) price terms, delivery terms(5) least/minimum, most/maximum(6) advance payment(7) open account(8) clean collection, documentary collection2. 略3. Translate the following terms into English.(1) settlement on bank credit(2) the potential for currency fluctuation(3) to clear the goods for export(4) to pay the insurance premium(5) to carry out export formalities(6) the major participants in international trade(7) the commodity inspection clause(8) to fulfill the obligation to deliver the goods(9)t he goods have passed over the ship’s rail(10)I nternational contract is concluded in a completely different context than domestic ones 4．Decide whether the following statements are true or false.(1) F (2) F (3) T (4) T (5) T(6) T (7) F (8) T (9) T (10) F5. Choose the best answer to each of the following statements(1)-(5) BCCBD (6)-(10) DACCC(11)-(15) BDDCD (16)-(20) DCACDChapter Two1. Fill in the blanks to complete each sentence.(1) barter(2) medium of exchange(3) expensive, risky(4) our(5) Vostro(6) vostro(7) nostro(8) specimen of authorized signatures, telegraphic test keys, terms and conditions, Swift authentic keys2. Define the following terms(1) Correspondent relationship 〖A bank having direct connection or friendly service relations with another bank.〗(2) International settlements〖International settlements are financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims, etc. emerged in the course of political, economic or cultural contracts among them. 〗(3) Visible trade〖The exchange of goods and commodities between the buyer and the seller across borders.〗(4) Financial transaction〖International financial transaction covers foreign exchange market transactions, government supported export credits, syndicated loans, international bond issues, etc.〗(5). Vostro account〖Vostro account is an account held by a bank on behalf of a correspondent bank.〗3. Translate the following terms into English.(1) commercial credit(2) control documents(3) account relationship(4) cash settlement(5) financial intermediary(6) credit advice(7) agency arrangement(8) credit balance(9)reimbursement method(10) test key/code4．Decide whether the following statements are true or false.(1) T (2) F (3) F (4) T (5) F5. Choose the best answer to each of the following statements(1)-(5) BCDAD (6)-(10) BBDABChapter Three1. Define the following Terms:(1) Negotiable instrument〖“A negotiable instrument is a chose in action, the full and legal title to which is transferable by delivery of the instrument (po ssibly with the transferor’s endorsement) with the result that complete ownership of the instrument and all the property it represents passes free from equities to the transferee, providing the latter takes the instrument in good faith and for value.” 〗(2) Bill of exchange〖A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time,a sum certain in money, to or to the order of a specified person, or to bearer. 〗(3) Check〖A check is an unconditional order in writing addressed by the customer to a bank signed by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer. 〗(4) Documentary bill〖It is a bill with shipping documents attached thereto. 〗(5) Crossing〖A crossing is in effect an instruction to the paying bank from the drawer or holder to pay the fund to a bank only. 〗2. Translate the following terms into English.(1) ⼀般划线⽀票〖generally crossed check〗(2) 特殊划线⽀票〖specially crossed check〗(3) 过期⽀票〖a check that is out of date〗(4) 未到期⽀票〖post dated check〗(5) ⼤⼩写⾦额〖amount in words〗(6) ⽩背书〖blank endorsement〗(7) 特别背书〖special endorsement〗(8) 限制性背书〖restrictive endorsement〗(9) 跟单汇票〖documentary bill〗(10) 即期汇票〖sight draft〗(11) 远期汇票〖usance/term bill〗(12) 承兑汇票〖acceptance bill〗(13) 可确定的未来某⼀天〖determinable future date〗(14) 光票〖clean bill〗(15) 流通票据〖negotiable instrument〗(16) 贴现⾏〖discounting house 〗(17) 商⼈银⾏〖merchant bank〗(18) ⽆条件的付款承诺〖unconditional promise of payment〗(19) 负连带责任〖jointly and severally responsible〗(20) 出票后90天付款〖payable 90 days after date〗3. Decide whether the following statements are true or false.(1) T (2) F (3) T (4) T (5) T(6) F (7) T (8) T (9) T (10) T(11) F (12) T (13) T (14) F (15) T(16) T (17) T (18) F (19) F (20) F4. Choose the best answer to each of the following statements(1)-(5) CACBC (6)-(10) BACBB(11)-(15) BDCCC (16)-(20) BBAAC5-7 略Chapter Four1. Fill in the blanks to complete each sentence.(1) beneficiary(2) payment order / mail advice / debit advice(3) the remittance amount is large / the transfer of funds is subject to a time limit / test key(4) sell it to his own bank for crediting his account(5) debits / credits(6) demand draft(7) act of dishonor(8) swiftness / reliability / safety / inexpensiveness(9) debiting remitting bank’s nostro account(10) delivery of the goods2. Define the following Terms.(1) International remittance means a client (payer) asks his bank to send a sum of money to a beneficiary abroad by one of the transfer methods at his option while the beneficiary can be paid at the designated bank which is either the re mitting bank’s overseas branch or its correspondent with a nostro account.(2) Remitting bank is the bank transferring funds at the request of a remitter to its correspondent or its branch in another country and instructing the latter to pay a certain amount of money to a beneficiary.(3) A mail transfer is to transfer funds by means of a payment order or a mail advice, or sometimes a debit advice issued by a remitting bank, at the request of the remitter.(4) Demand draft transfer is a remittance method using a bank demand draft. It is a negotiable instrument drawn by one bank on its overseas branch or its correspondent abroad ordering the latter to pay on demand the stated amount to the holder of the draft.(5) Cancellation of the reimbursement under mail transfer or telegraphic transfer is usually done before its payment is made at the request of the remitter or the payee who refuses to receive the payment.3. Translate the following terms into English.(1) 汇款通知单remittance advice (2) 汇出汇款outward remittance(3) 国际汇款单international money order (4) 往来账户current account(5) ⾃动⽀付系统automated payment system (6) 作为偿付in cover(7) 赔偿保证书letter of indemnity (8) 信汇通知书 mail advice(9) 汇票的不可流通副本non-negotiable copy of draft (10) ⾸期付款down payment4. Choose the best answer to each of the following statements(1)-(5) BCABD (6)-(10) BBBAAChapter Five1. Fill in the blanks to complete each sentence.(1) presenting bank(2) title documents / pays the draft / accepts the obligation to do so(3) legal / the exchange control authorities(4) the payment is made(5) open account / advance payment(6) Inward collection(7). the remitting bank(8) trust receipt(9) D/P at sight(10) documents, draft, and collection order2. Define the following terms(1) Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or shipping documents are forwarded to the seller’s bank with clear instructions for collection through one of its correspondent banks located in the domicile of the buyer.(2) The case of need is the representative appointed by the principal to act as case of need in the event of non-acceptance and/or non-payment, whose power should be clearly and fully stated in the collection.(3) Documentary collection is a collection of financial instruments being accompanied by commercial documents or collection of commercial documents without being accompanied by financial instruments, that is, commercial documents without a bill of exchange. Alternatively, the documentary collection is a payment mechanism that allows the exporters to retain ownership of the goods until they receive payment or are reasonably certain that they will receive it.(4) Outward collection is a banking business in which a bank acting as the remitting bank sends the draft drawn against an export with or without shipping documents attached, to an appropriate overseas bank, namely, the collecting bank to get the payment or acceptance from the importer.(5) Collection bill purchased is a kind of financing by banks for exporters under documentary collection methods. It means that the remitting bank purchases the documentary bill drawn by the exporter on the importer. It involves great risk for the remitting bank due to lack of a guarantee.3. Translate the following terms into English.(1) 承兑交单acceptance against documents (2) 商业承兑汇票 trade acceptance(3) 需要时的代理⼈case of need (4) 出⼝押汇export bill purchased(5) 物权单据 title document (6) 以寄售⽅式on consignment(7) 直接托收direct collection (8) 货运单据shipping documents(9) 付款交单documents against payment (10) 远期汇票time/ tenor/term/ usance draft4. Choose the best answer to each of the following statements(1)-(5) ABCAB (6)-(10) ACAADChapter Six1. Define the following terms:(1) Letter of credit 〖The Documentary Credit or letter of credit is an undertaking issued by a bank for the account of the buyer (the applicant) or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with. 〗(2) Confirmed letter of credit 〖A credit that carries the commitment to pay by both the issuing bank and the advising bank. 〗(3) Revolving credit 〖A credit by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the documentary credit being required. 〗(4) Confirming bank 〖A bank, usually the advising bank, which adds its undertaking to those of the issuing bank and assumes liability under the credit.〗(5) Applicant of the credit〖The applicant is always an importer or a buyer, who fills out and signs an application form, requesting the bank to issue a credit in favor of an exporter or a seller abroad.〗2. Translate the following terms or sentences into English.(1) 未授权保兑〖silent confirmation 〗(2) 有效地点为开证⾏所在地的柜台〖to expire at the counters of the issuing bank 〗(3) 凭代表物权的单据付款〖to pay against documents representing the goods〗(4) 信⽤证以银⾏信⽤代替了商业信⽤。

国际结算双语试题库

《国际结算》双语试题库模拟试题一一、专业术语互译（本大题共20小题，每小题1分，共20分）1. Presentation提示2.Acceptance承兑3. T/T电汇4. D/D票汇5. Dishonor拒付6. Guarantee/Aval保证7. EXW工厂交货条件8. Nostro account往账 9. CIF运保费付至——交货条件10.Right of Recourse追索权 11. 出票 Issuance 12. 背书Endorsement 13. 拒付Dishonor 14. 环球银行间金融电讯协会ＳＷＩＦＴ 15. 备用信用证Standby L/C， 16. 原产地证书Certificate of Original 17. 成本加运费条件CFR18.有条件承兑Conditional acceptance 19. 划线支票Crossed check20. 投标保函(tender guarantee)二、名词解释（本大题共5小题，每小题3分，共15分）1. 国际结算：是指两个不同国家的当事人，不论是个人间的、单位间的、企业间的或政府间的当事人因为商品买卖、服务供应、资金调拨、国际借贷，通过银行办理的两国间货币收付业务。

2. 汇票是由出票人向另一人签发的，要求即期、定期或在可以确定的将来的时间，向某人或其指定人或来人无条件地支付一定金额的书面命令。

3.托收（collection）是委托收款的简称。

是出口商或债权人开立金融票据或商业票据或两者兼有，委托托收行通过其联行或代理行向进口商或债务人收取货款或劳务费用的结算方式。

4.可转让信用证，指信用证的受益人可以要求指定的转让行将信用证的权利部分或全部地转让给第三者的信用证。

5. 议付指信用证结算方式下的一种行为。

即，出口地的一家银行应开证行的邀请和受益人的请求充当L/C项下议付行。

该行在出口商提交全套货运单据后，经核验单据汇票确认无误后，对受益人垫付货款，再向开证行或其指定银行索回货款的过程和行为叫议付。

国际结算双语版课后练习选择判断答案

第一章1.国际结算制度的核心是( A )A.信用制度B.银行制度C.贸易制度D.外汇管理制度2.现代国际结算使用的主要工具是( A )A.票据B.现金C.信用证D.汇票3. 商品进出口款项的结算属于( C )。

A.双边结算B.多边结算C.贸易结算D.非贸易结算4.传统的国际贸易和结算中的信用主要是( D )两类。

A.系统信用和银行信用B.系统信用和司法信用C.商业信用和司法信用D.商业信用和银行信用5.以下哪一个不是建立代理行关系的步骤( D )A考察了解对方银行的资信B.签订代理协议并互换控制文件C.双方银行确认控制文件D.了解对方银行的习惯做法6. Which of the following is the USD payment and settlement system ( B )A.CHAPSB.CHIPSC.TARGETD.BOJ-NET7. At present, the biggest amount of currency in the global international settlement( C )A. JPYB. EURC. USDD. GBP8. In the case of other conditions unchanged, which of the following currency settlement should the importer choose ( A )?A. have down trend of currencyB. have up trend of currencyC. the value of currency is fixedD. currency fluctuates up and down significantly第二章9.A bank issues a draft and makes another bank as the drawee ,and the character of thisdraft is( B )A. commercial draftB. bank's draftC. commercial acceptance draftD. bank's acceptance draft10.Contrast to the means of payment ,a traveler's cheque is ( A ) in the character.A. promissory noteB. bill of exchangeC. chequeD. letter of credit11.Which of the following is not the basic party of draft( D )A. drawerB. draweeC. payeeD. endorser12.在汇票背书转让过程中，只有( B )A.背书人具有向付款人要求付款的权利B.持票人具有向付款人要求付款的权利C.出票人具有向付款人要求付款的权利D.承兑人具有向付款人要求付款的权利13.票据的作成,形式上需要记载的必要项目必须齐全，各个必要项目又必须符合票据法律规定，方可使票据产生法律效力。

金陵科技学院国际结算英文版习题集

金陵科技学院国际结算英文版习题集《国际结算》（英文版）习题集Chapter 1: International Settlement under Globalization5. Please decide whether the following statements are true or false.(1) Greater imports offer consumers a wider variety of goods at higher prices, while providing strong incentives for domestic industries to remain competitive. ( )(2) Information technology makes the international trade more efficient than ever. ( )(3) International lending is often accompanied by international payments. ( )(4) Under the term CFR, it is the seller’s responsibility to insure the goods transported.(5) Cash in advance, open account, collection and documentary credit are the usual methods of payment to settle international trade transactions. ( )(6)To the exporter of goods, the most satisfactory arrangement as far as payment is concerned is to receive it in advance. ( )(7) Trade on open account arrangement usually satisfies the seller’s desire for cash and the import’s desire for credit. ( )6. Please choose the answers to each of the following questions.(1) international payments and settlements may arise from( ).A. commercial paymentsB. payments for the services renderedC. payments between governmentsD. transfer of funds among countries.(2) An additional risk borne by the seller when granting a credit to the buyer is that the latter will not_______.A. accept the billB. take up the documentsC. take deliveryD. make payment at maturity(3) To the exporter, the fastest and safest method of settlement is_____.A. letter of creditB. advance paymentC. collectionD. banker’s draft(4) To the importer, the fastest and safest method of settlement is_____.A. letter of creditB. cash in advanceC. open accountD. banker’s draft7. Please answer the following questions.(1) Explain the definition of international settlement.(2) How many main types of international settlement methods are used in the internatinal trade?(3) What are the liabilities of a exporter in the international settlement?Chapter 2: International Clearing Systems And SWIFT5. Please decide whether the following statements are true or false.(1) Since the 1950's, the US dollar has been the primary currency for the settlement of international payments. ( )(2) T o facilitate automated payments, CHIPS has assigned afour-digit Universal Identification Number (UID) to banks, branches, subsidiaries and corporate customers around the world that maintain accounts with their CHIPS participants. ( )(3) Euro is the new single currency used by the European Council. There are two types of value transfer about Euro payment transaction systems (TARGET and Euro 1). ( )6. Please choose the answers to each of the following questions.(1) Currencies such as ( ) used in the international settlement are convertible currencies.A. USDB. JPYC. EURD. GBP(1) US dollar clearing systems do not include ( ).A. CHIPSB. FEDWIREC. book-transferD. ACHE. CHAPS(2) international payments and settlements may arise from( ).A. commercial paymentsB. payments for the services renderedC. payments between governmentsD. transfer of funds among countries.(3) All the parties to a collection are bound by____ ________.A. UCP400B. UCP500C. URC522D. URC254Chapter 3: Correspondent Banking5. Please decide whether the following statements are true or false.(1) In a sense, banks themselves are the best customers for each other. ( )(2) Correspondent relationship is dispensable in conducting international banking business. ( )(3) Besides vostro accounts, most accounts opened by the bank with vostro account are investment accounts. ( )(4) A bank’s access to foreign exchange can not be rated higher than that of its country. ( )(5) Ratio of liquidity assets refers to the ration of those assets can be shifted into payable instruments. The smaller the ratio, the better the liquidity a bank will have. ( )6. Please choose the answers to each of the following questions.(1) After the establishment of correspondent relationship, two banks should exchange ( ) with each other.A. authorized signatures bookB. test keyC. SWIFT keyD. schedule of terms and conditions(2) Credit line establishment for correspondent is one of the most important works. Banks usually have a special department to be in charge of risk. Risk may include ( ).A. country riskB. rating bank riskC. political riskD. currency and interest risk(3) The receiving bank verifies this number with thearrangement so as to be certain that the ( ) is sent by a particular bank.A. CableB. TelexC. EmailD. Telephone7. Please answer the following questions.(1) What are types of accounts from which the account holding bank can render services?(2) What the steps are taken by a bank to grant credit line?Chapter 4: Instruments5. Please decide whether the following statements are true or false.(1) The time draft which payment is to be made at specified future time is called tenor draft. ( )(2) From the import's point of view, the ideal arrangement is to draw a sight draft under a documentary credit, and to receive payment of it immediately upon presentation. ( ) (3) A banker's draft is a negotiable instrument drawn payable to order by a bank as drawer on the same bank as drawee. ( )(4) A cheque is a demand bank draft. ( )(5) A draft is a conditional order in writing. ( )(6) There is no acceptor in a promissory note. ( )(7) A promissory note is an unconditional order in writing. ( )(8) There are only two parties in a promissory note. ( )(9) In a promissory note, the maker and drawee are the same person. ( )(10)A term bill may be accepted by the endorser. ( )(11) In the case of MT, the remitting bank issues a draft to its customer, and instructs its foreign branch or correspondent bymail to make the payment to the beneficiary. ( )(12) Drafts which are payable at a future date are called demand drafts. ( )(13) Banks have no liability for any delay or loss caused by postal or telex failure.(14) Promissory notes are commercial documents. ( )(15) In the case of documents payable at sight the presenting bank must make presentation for payment without delay. ( )(16) Accepted drafts must be presented for payment on maturity. ( )(17) A bill should be protested within one business day of dishonour. ( )(18) The instructions of the drawee override the collection order. ( )(19) A remitting bank will not accept unqualified acceptance. ( )(20) Acceptance must be made at the back of the bill and signed by the drawee. ( )6. Please choose the answers to each of the following questions.(1) The most common types of negotiable instruments are ( ).A.bill of exchangeB. promissory noteC.chequeD. traveller’s cheque(2) A cheque must be signed by ( ).A. the drawerB. the draweeC. the payerD. the payee(3) The person paying the money is a ( ) of a cheque.A the drawerB the draweeC endorserD endorsee(3) Only by endorsement the interest in the bill of exchange can be transferred by ( ) .A the draweeB the drawerC the holderD any person to the bill(4) If Barclays instructs Citibank to pay a sum of USD100000 to Midland, its nostro account should be ( ).A creditedB debitedC increasedD decreased(5) The reasonable time concerning protest for non-payment or non-acceptance is usually ( ).A. half a dayB. one or two daysC. ten hoursD. twenty-four-hours7. Please answer the following questions.(1) Negotiable instruments are used significantly in a paper-based payment and fund transfer system. What is characters of instruments?(2) What duties does a holder of a bill of exchange have ?(3) What is endorsement of bill of exchange?(4) What is acceptance of bill of exchange?(5) What is dishonor of bill of exchange?Chapter 5: Means of International Settlement —Remittance5. Please decide whether the following statements are true or false.(1) Usually a remitting bank sends a payment order with tested key to the paying bank abroad by mail and debits the paying bank’s account with it if they have account relationship with each other.( )(2) Bank draft is a rather flexible remitting instrument for it can not only remit, but also draw a draft. ( )(3) With rapid telecommunication, most payment transactions are handled by telegraphic transfer. ( )6. Please choose the answers to each of the following questions.(1) The remittance will be done by several means ( ).A.transfer of mailB. draft and telegraphicC.credit cardD. traveler’s check and E-Banking or Web(2) A.promissory note is written and signed by ( ) ,and sent to ( ).A.the exporter…the buyerB.the buyer…the e xporterC.the exporter…the another exporterD.the buyer…the another buyer(3) ( ) is drawn by the exporter and sent to the buyer.A.DraftB.Promissory noteC.I.O.U.D.Cheque7. Please answer the following questions.(1) What is the reason that a customer selects bank draft asa remittance instrument instead of telegraphic transfer?(2) In the process of payment transfer, some mistakes may occur, such as late payment, duplicate payment, under and over payment, wrong account at right bank and so on, which may arise loss for a bank. What is the Rules of Interbank Compensation is therefore worked out to settle the dispute among banks?(3) What does remittance refer to?(4) What is the differences between T/T and M/T?(5) Why is it faster by using T/T and by using M/T?.Chapter 6: Means of International Settlement-- Collection5. Please decide whether the following statements are true or false.(1) A documentary collection is more secure than settlement on open account, because the importer can may take possession of the goods with either making payment or accepting a bill of exchange. ( )(2) With a D/A arrangement, the importer takes possession of the goods after payment is actually effected. ( )(3) When remitting bank has an account with collecting bank, the collection i nstruction will be “ please debit our account with you under you SWIFT/airmail advice to us.”. ( )(4) When the collecting bank has an account with the remitting bank, the collection instructionwill be “please collect the proceeds and authorize us by SWIFT/airmail to debit your account with us.” ( )(5) If the instructions are D/P, the importer’s bank will release the documents to the importer only against payment.(6) It is unnecessary to carry out the collection instruction in the case of non-payment.(7) A documentary collection is an arrangement whereby the seller draws only a draft on the buyer for the value of the goods and presents the draft to his bank.(8) Under documentary collection, the remitting bank has no obligation to examine documents.(9)Normally D/P will apply with sight drafts and D/A will apply with usance drafts.(10) The four main parties to a documentary collection are the principal, the remitting bank, the collecting bank and the drawee.(11) The principal is usually the importer.(12) Banks have no obligation to take any action in respect of the goods to which a documentary collection relates.(13) The authority of the “case of need” must be specified in the collection order.(14) It is unnecessary to carry out the collection order in the case of non-payment.6. Please choose the answers to each of the following questions.(1) When there is no account relationship between remitting bank and collecting bank, the collection instruction will be “please collect and remit the proceeds to X Bank for ( )our account with them under their SWIFT/airmail advice to us.”A.creditB. debitC. remitD. collect(2) The instructions for collection are mainly ( ).A. those in the contractB. written on the Bill of ExchangeC. given by the importersD. given by the exporters(3) It will be more convenient if the collection bank appointed by the seller ( ).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 instructions(4) The operation of collection begins with ( ).A. the customer and the remitting bankB. the remitting bank and the collection bankC. the presenting bank and the draweeD. the collection bank and the presenting bank(5) Detailed instructions must be sent to the collecting bank ( ).A. in the application formB. in the collection orderC. in the documentsD. both A and B(6) The collection bank will make a protest only when ( ).A. the documents are rejectedB. a case of need is nominatedC. specific instructions concerning protest are givenD. protective measures in respect of the goods are taken(7) If it is stated as D/P ,the documents can be released ( ).A. against paymentB. against acceptanceC. in either wayD. against acceptance pour aval(8) ( )is the bank to which the principal has entrusting the collection.A. The remitting bankB. The collection bankC. The presenting bankD. Both A and B(9) ( ) must make his instructions to ( ) clear in his collection order.A. The remitting bank…the collecting bankB. The principal…the draweeC. The principal…the remitting bankD. The drawee…the collecting bank(10) If collection order states that partial payments are accepted, the presenting bank will ( ).A. only release the documents to the drawee after full payment has been receivedB. release the documents to the drawee after partial payment has been receivedC. refuse to accept the partial paymentD. not release any documents to the drawee[(11) After the goods have been shipped, the exporters present the documents to ( ).A. the remitting bankB. the collecting bankC. the reimbursing bankD. the opening bank(12) The instructions for collection are mainly ( ).A. those in the contractB. written on the Bill of ExchangeC. given by the importersD. given by the exporters(13) The remitting bank checks the documents received ( ).A. as a service to its clientsB. to avoid unnecessaryC. before sending them outD. all of the above(14) It will be more convenient if the collection bank appointed by the seller ( ).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 instructions(15) The commission charged by a third bank involved in the collection should be paid by ( ).A. the exporterB. the importerC. the correspondent bankD. the remitting bank(16) The operation of collection begins with ( ).A. the customer and the remitting bankB. the remitting bank and the collection bankC. the presenting bank and the draweeD. the collection bank and the presenting bank(17) Detailed instructions must be sent to the collecting bank ( ).A. in the application formB. in the collection orderC. in the documentsD. both A and B(18) Banks are obligated to verify the documents received to see that ( ).A. they are authenticB. they are regularC. they are those listed in the collection orderD. they are in the right form(19) The collection bank will make a protest only when_____.A. the documents are rejectedB. a case of need is nominatedC. specific instructions concerning protest are givenD. protective measures in respect of the goods are taken(20) If it is not stated as D/A or D/P, the documents can be released______.A. against paymentB. against acceptanceC. in either wayD. against acceptance pour aval7. Please answer the following questions.(1) With a documentary collection, however, the exporter is not certain, at the time of dispatch of the goods whether the buyer will actually make the full payment. What the cases that this form of settlement is most appropriate?(2) What is the procedures of documentary collection?(3) What is the documentary collection?(4) What dose a collection instruction include?(5) What duties does a Remitting Bank have in the collection business?(6) What will a Collecting bank do in case of dishonor by thedrawee in the collection business? Chapter 7: Letter of Credit5. Please decide whether the following statements are true or false.(1) Each item in contracts in this arrangement is dependent of one another and is to control the relationship among the parties. ( )(2) As for the Issuing Bank, it offers its only credit instead of actual funds to the importer by issuing the Credit. ( )(3) Issuing Bank will not be a first obligator after it accepts the application of importer and opensa letter of credit. . ( )(4) Exporter may require amendment or reject the Credit if he should not satisfy himself that the terms and conditions called for in the credit are in agreement with the sales contract. ( ) (5) The Negotiating Bank will only have to examine the documents with reasonable care to ascertain whether or not they appear, on their face, to be in compliance with the terms and conditions of the Credit. ( )(6) The expiry date and latest shipping dates specified in the credit must be strictly complied with the documents are presented too late, the bank is not allowed to honour them. ( )(7) A back-to-back credit is mainly used by a middleman to get from a supplier goods which are sold or resold to a third party or parties. ( )(8) An irrevocable credit can be amended,revoked or cancelled without the beneficiary’s consent. ( )(9) An irrevocable confirmed documentary credit gives the beneficiary a double assurance of payment. ( )(10) Usually the advising bank is the bank located in the same city as the buyer. ( )(11) Credit, by the nature, are separate transactions from the sales or other contracts on which they may be based, and bank are in no way concerned wish or bound by such contracts. ( ) (12) It is documentary letter of credit that affords a high degree of safety for both buyers and sellers. ( )(13) Under documentary letter of credit, the remitting bank has no obligation to examine documents. ( )(14) The UPC rules have been in effect since 1923. ( )(15) Usually the advising bank is the bank located in the same city as the buyer. ( )(16) If the instructions are D/P the importer’s bank will release the documents to the importer only against payment. ( )(17) Goods should not be dispatched direct to the address ofa bank or consigned to a bank without prior agreement on the part of that bank. ( )(18) A bank will handle the documents only on the basis of instructions received. ( )6. Please choose the answers to each of the following questions.(1) A revocable credit can not be amended or cancelled only after ( ).A.the documents under it have been honoured.B.It has been amended once.C.The advising bank has notified the beneficiary of its opening.D.It has been confirmed by a correspondent bank.(2) ( ) gives the beneficiary a double assurance of payment.A. An irrevocable creditB. A revocable creditC. A confirmed creditD. An irrevocable confirmed credit(3) In a letter of credit transaction, the bank pays the seller for ( ).A.documents which agree with the creditB merchandise which the buyer orderedC merchandise which agree with the contractD documents which agree with the contract.(4) After the goods have been shipped, the exporters present the documents to ( ).A. the remitting bankB. the collecting bankC. the reimbursing bankD. the opening bank(5) To the exporter, the fastest and safest method of settlement is ( ).A. letter of creditB. advance paymentC. collectionD. banker’s draft(6) To the importer, the fastest and safest method of settlement is ( ).A. letter of creditB. cash in advanceC. open accountD. banker’s draft(7) Before opening a credit, the issuing bank should ( ).A. go through the contract termsB. fill in the application formC. sign an agreement with the customerD. inquire into the customer’s credit standing(8) The exporter can receive the payment only when ( ).A. he has shipped the goodsB. he has presented the documentsC. the documents presented comply with he credit termsD. the importer has taken delivery of the goods(9) In credit transactions, the goods and the documents are sent to the importer ( ).A. in different waysB. in the same wayC. in different directionsD. at one time(10) Banks are obligated to verify the documents received to see that ( ).A. they are authenticB. they are regularC. they are those listed in the collection orderD. they are in the right form(11) A revocable credit can not be amended or cancelled only after ( ).A. the documents under it have been honoured.B. it has been amended once.C. the advising bank has notified the beneficiary of its opening.D. It has been confirmed by a correspondent bank.(12) Back-to-back credits are advantageous to ( ).A. all consumersB. all manufacturersC. all customersD. all traders。

国际结算练习三.docx

国际结算练习题三Practices for International settlement1.Choose the true answer of the following sentences.(1)A credit is issued by Bank of China, Tianjin and confirmed by Bank of China, London. It constitutes the payment undertaking of ( )(A) one bank only (B)above two banks(2)A credit contains the terms as follows :“The amount shall renewed after each negotiation only upon receipt of issuing bankas notice stating that the credit might be renewed"the credit is ( )rcstoration to revolve.(A) automatic (B)non-automatic (C) semiautomatic(3)When a credit is issued by full cable in full details, such cable advice ( ) an operative credit・(A) is (B) is not(4)Suppose an L/C says one shipment of "100,000 yards of wire". Which quantities fail to comply with the L/C.()(A)94,000 yards of wire (B) 100,000yards of wire(C)97,000 yards of wire (D) 106,000 yards of wire(5)If the credit requires insurance policy, the presentation of an insurance certificate .It is ( )(A) permissible (B) not permissible(6)An L/C states an amount of amount of about USDL450.00 and partial shipment arc not allowed. Which of the following drawing are not acceptable? ( )(A)USD 1,590.00 (B)USD 1,310.00(C)USD 1,596.00 (D)USD 1,304.00(7)A letter of credit is _____(A)a formal guarantee of payment (B) a conditional undertaking to make payment(C)an unconditional undertaking to make payment(D)a two bank guarantee of payment(8)With an unconfirmed irrevocable letter of credit, ______(A)the terms and conditions can be amended or cancelled unilaterally by any party(B)only the exporter can amend the credit.(C)the advising bank transmits details without commitment to the beneficiary.(D)the issuing bank has the ability to cancel the credit at any time.(9)A confirmed irrevocable letter of credit _____(A)carries the confirmation of the issuing bank(B)the advising bank at the request of the issuing bank.(C)the advising bank after the receipt of correct documentation.(D)the issuing bank after the receipt of correct documentation.(10)In any dispute over the terms and conditions of the credit, which interpretation will prevail?(A)Uniform Customs and Practice (B) Incoterms© Statute law (D) International law(12)A stand-by letter of credit _____(A)is never revoked (B) is not a letter of credit(C )is invoked in the event of non-compliance by buyer or seller with the terms of an original(D) is invoked in the event of non-compliance by buyer or seller with the terms of the sales contract.(13)The beneficiary of a traditional credit is _______(A)the paying/accepting/negotiating bank(B)the shipper ( C) the middleman(D) the producer(14)The sum of the transferred credit will not be ______ .(A)the same as in the credit before transfer(B)less than in the credit before transfe匚(C ) more than in the credit before transfer(D ) equal to the original credit(15)Which of the following details on the transferred credit may not be different to that of the credit before (ransfer?(A)The shipping date(B)The expiry date of the credit.(C ) The description of the goods(D) The name of the applicant(16)A back-to-back credit exposes the bank issuing the second credit to risk because_(A)the beneficiary under the second credit may not ship goods(B)the documents presented under the second credit may not exactly conform to the terms of the first credit.(C)the bank has already paid the beneficiary under the second credit before it receives documentation from the beneficiary under the first credit(D)the bank has already paid the beneficiary of the first credit before it receives documentation from the beneficiary under the first credit.(17)Under the red clause credit, on which party does the final responsibility lie for reimbursement if the terms and conditions are not fulfilled by the beneficiary? __ (A)the issuing bank (B) the advising bank(C)the beneficiary (D)the applicant(18)An applicant must reimburse an issuing bank unless he finds that _______(A), goods are defective (B) The advising bank(C)documents received do not allow him to clear the goods through customs.(D)documents do not conform on the face to the terms and conditions of the credit(19)An applicant must reimburse an issuing bank unless he finds that ______(A) goods are defective (B) goods are not as ordered in the sales contract(C )documents received do not allow him to clear the goods through customs.(D)documents do not conform on the on the face to the terms and conditions of the credit(20)A revocable credit cannot be amended or cancelled only after ___(A) the documents under it have been honored.(B)it has been amended once(C)the advising bank has notified the beneficiary of its opening(D)it has been confirmed by a correspondent bank(21)According to the beneficiary^ instructions , a transferable credit may be available to _____(A) one party (B) two parties(C)more parties (D)any of the above(22)A bank is obligated to transfer the credit only after ____(A) being instructed (B) being instructed as well as paid(C)receiving the credit (D) the credit is confirmed(23)Under _____ /he obligation of the issuing bank is extended only to the beneficiary in honoring drafts/documents and usually experiences at the counter of the issuing bank.(A) the irrevocable credit (B) the revocable credit (C) the confirmed credit(D)irrevocable straight credit(24)____ gives the beneficiary double assurance of payment.(A) The irrevocable credit (B) the revocable credit(C) the confirmed credit (D) the credit is confirmed(25)The revolving credit can be revolved in relation to ______(A) time (B) value (C) time and value (D) time or value(26)The credit may only be confirmed if it is so authorized or requested by ____(A) the issuing bank (B) the supplier (C) the advising bank (D) the beneficiary(27)The red clause credit is often used as a method of ________(A)providing the buyer with funds prior to shipment(B)providing the seller with funds prior to shipment(C)providing the buyer with funds after shipment(D)providing the seller with funds after shipment(31)The ____ informs the beneficiary another bank has issued a credit in his favor without adding its own engagement.(A) confirming bank (B) advising bank (C) issuing bank (D)presenting bank(32)The beneficiary must do two things to be paid. He must present documents which confirmed to the credit, ___________(A)and must present them on the expiry date(B)and must present them on or before the expiry date.(C)and must present them on or before the expiry date(D)and must present them around the expiry date.(33)The expiry date is Feb.25, The beneficiary presents his documents on Feb.25. The bank examines the documents and finds the insurance certificate was made out for too little ________ •(A)The bank will not pay the beneficiary(B)The bank will not pay the beneficiary for the documents presented expired(C)The bank will not pay the beneficiary for the documents presented not in order(D)Both B and C(34) _____ is obligated to reimburse the paying bank under a confirmed irrevocable credit.(A) The issuing bank (B) the negotiating bank(C) the reimbursing bank (D)the advising bank(35) ____ must apply for any amendment to a letter of credit.(A) The account party (B) the beneficiary(C) the confirming bank (D) the issuing bank(36) ____ must approve any amendment to a confirmed iiTevocable letter of cedit.(A) The beneficiary (B) the confirming bank (C) the issuing bank (D) A and B and C(37)In L/C transactions, the account party is the ______(A) buyer (B) seller (C) importer (D) both A and C(38)In a letter of credit, the bank pays the seller for _____(A)documents which agree with the credit(B)merchandise which the buyer ordered(C)merchandise which agrees with the contract(D)documents which agree with the contract(39)J.A. Smith applies to his bank for a letter of credit. The bank issues the credit and mails it to C. Thomas. Me Smith is the _____(A) margins (B) seller (C) beneficiary (D) applicant(40)If a credit is issued with belief advise by tele-transmission, the operative credit will be the ____(A) mail advise subsequently sent (B) the brief advise(C) the applicant form (D) the SWIFT message(41)Under a letter of credit, the account is obliged to repay _____ provided that the terms and conditions of the credit are complied with.(A) the negotiating bank (B) the issuing bank (C) the advising bank (D) the seller2.Please fill the blanks of the following sentences.(1)How many basic parties are there in a documentary credit? Write their names1 ______2 __________3 _____________(2)The advising bankas liability is to check the apparent ________ with the credit.(3)If the credit provides negotiation, issuing bank pays drafts _____________ recourse to the nominated bank or the beneficiary. But, nominated bank negotiates drafts _______ recourse to the beneficiary.(4)Usance credits may be divided into two kinds: buyer's usance credit, ________ usanee credit.(5)A transferable credit can be transferred _______ time.(6)The primary beneficiary is the _______ of back to back credit and the secondary beneficiary is the actual ________ of the goods.(7)All anticipatory credit may be classified into three kinds: I.Full sum to be paid in advance credits 2. ___ clause credit 3 ______ clause credit.(8)A credit contains the term as follows:“ 30% of credit amount as down payment will be paid in advance upon negotiation of bene- ficiary\ simple receipt and their undertaking to ship the goods：The above credit belongs to ________ clause credit.(9)There are two kinds of revolving credits: 1. the credit may revolve in relation to time・ 2.the credit may revolve in relation to _____ .(10)The differences between standby credit and commercial credit are as follows:1 .Commercial credit is subject to UCP500・ Standby credit is subject to _______ •2.Pament of commercial credit is effected on the basis of the beneficiary fulfillment of credit terms・ Payment under standby credit to be effected on the basis of the __________ in the of his obligation.(11)A bill of lading has two basic parties namely 1 ________ 2 ____________ •(12)The words about or circa used in connection with the amount, quantity or unit price stated in the credit are to be construed as allowing a difference not to exceed _______ percent more or less than the amount, quantity or unit price to which they refer;(13)Quantity is expressed as weight , length or measurement eg 100 tons, 5,000 yards or 400 gallon tolerance between _______ percent more or less than quantity stated in the credit is allowed.(14)Date of insurance document must be not later than then the date of __________ ・(15)The minimum amount for insurance cover is the ____________ value of the goods pluspercent , or the minimum amount is __________ percent of the amount for which payment 、acceptance or negotiation is requested under the credit or 110% of gross amount of the invoice whichever is .。

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