Multiple-choice questions Payment and credit in International Trade PDF

Preview

Summary

multiple-choice questions and answer...

Description

Question 1 : The delivery date is understood as: a) "Clean on board" date on B / L b) B / L release date c) Depending on the type of B / L used  C. because if there is no separate note on the bill of lading, the date of release is the date of delivery. If the bill of lading is issued after the cargo is loaded onto the ship, the date of "boarding" is considered the date of delivery. Question 2: NH voucher (remitting bank) Pass ph check the contents of documents listed on the collection request received from the collection, are: a) It's correct b) False  B. Because NH voucher is only billing center, just make the transfer certificates in accordance with the directives in the collection and in content ph buzzing with the provisions of URC employee-specific reference that does not have Pass ph responsibility to check the contents of documents C World 3: The final decision that the documents have ph buzzing with the conditions and terms of the L / C is a) Issuing bank b) Applicant c) Negotiating bank d) Reimbursement bank  ISSUING BANK A. Because the main responsible for the payment of the value of the credit. When the The bank sends the documents to, NHFH must check whether it is in accordance with the terms of the letter of credit. If yes, pay the bank to pay, otherwise the bank has the right to refuse the refund of the paid amount. Question 4: K hips can use 2 coins in the first commercial contract, are: a) A peek ng b) False  B. Because in the BTA you can use the calculation currency and the payment currency is 2 different currencies, depending on the agreement of both parties Question 5: To limit risks when applied the payment collection, the exporter should choose the smooth exchange IEU ph, is a) A peek ng b) False  B. As the method of payment collection method of payment slip is not attached documents. So do not guarantee benefits for exporters, because between the receipt and payment of the import no mutually binding export  who risky Question 6: UCP 500 is a legal document required all participants in documentary credit payment made is ải ph a) It's correct 1

b) False  B. Because UCP 500 is an arbitrary legal document, it is not mandatory. Mandatory only when the parties concerned have declared its application and references in the L / C. Question 7 : The advantages of importers in D / P and D / A are the same a) It's correct b) False  B. For D / A the importer has been using or selling goods without having to pay until the draft matures  not having the capital pressure   risk belongs to the exporter. For D / Pimporter have to pay and then receive the goods, pressured by capital  risk belongs to the importer as the goods are not of right quality, requirements, time ... Question 8: A B / L perfectly forced exile from perfect ph (clean) on the surface of lading, is a) It's correct b) False  B. lading clean bill of lading on which the captain did not write anything in the bill of lading or write in g un nh said all cargo on the surface are guaranteed export packing. So a perfect B / L doesn't necessarily have a clean word on the surface Question 9: The payment method for collection Lubricants (Clean Collection), exporters ph c Pass the inspired word out through NH: a) Bill of Lading b) Bill of Exchange c) Invoice d) C / O  B. Because the method of smooth collection is based only on the draft issued by the exporter . Commercial documents transferred directly by the exporting party to the importer, not through the bank. Which documents B / L, invoice, C / O re-à l commercial documents, only B / E's financial documents Cau10: 1 NH confirmed letter of credit, the ph confirm who is responsible for the modification of L / C where: a) It's correct b) False  B. Because the bank confirms that the bank is not trusted by the beneficiary on the solvency of the issuing bank, they usually require a reputable bank in the financial field to confirm the credit letter, because so the bank confirms that it is responsible for paying the money in the letter of credit to the beneficiary. It is also the responsibility of confirming the amendments in that L / C that are held by NHFH Question 11 : The perfect set of documents is the basis for a) Exporter asks for L / C ISSUANCE BANK b) The importer returns the issuing bank the amount paid to the beneficiary c) NH confirms payment commitment d) All of the above are true 2

 D. Since the exporter presents the documents in accordance with the provisions of L / C, the importing party bank (NHFH) will pay the L / C value to the beneficiary. Then the bank will hand over this perfect set of documents to the importer so that they can receive the goods with the importer must pay reimbursement of L / C value to the bank under the signed contract. In case of using the L / C certification, when the exporter presents the set of documents in accordance with the L / C, it will be accepted to pay the L / C value as committed. Question 12 : Modify L / C only made by NH that FH L / C, is a) It's correct b) False  A. Because in credit payment vouchers payment responsible NHFH, settlement risk should belong NHFH. Therefore, NHFH has the right to decide to amend and supplement the terms of L/C Question 13 : Notice of amendment of letter of credit to beneficiaries is only carried out by the bank who announced that L / C: a) It's correct b) False  A. BECAUSE of documentary credit advising bank shall deliver the letter of credit and notify the XK. So after the amendment of the L / C is added, the revised and supplemented contents will be sent to the exporters through the notification bank. The sentence 14: L / C provisions for women forced to present documents at Vietcombank. C employee-specific inspiration from the EIB and the EIB to present at the guttertransferred to the bank c ISSUE L / C to recover the money. FH Bank refused to pay, is: a) It's correct b) False  A. Because in the L / C prescribed to present VCB documents , only when the documents are presented at VCB, can the payment be presented at the ICB, it will not be paid even if thevoucher of the L / C is combined. rate. Therefore, NHFH refuses to pay because the documents can not be produced as prescribed Question 15 : In the credit payment, the voucher payer is a) Export b) Import c) NHFH d) NHTT  C. Because in credit voucher payment , NHFH has the primary responsibility for the payment of the value of credit Question 16: When it loads the directive does not fully or not obvious to notice letters of credit, who have a responsibility to provide the necessary information not delay to help NHTB verify the true appearance of a Credit a) Export b) NK

e) NHXK f) Securities Bank 3

c) NHFH

g) NHHT

d) NHTB

hour) NHTT

 C. Since NHFH is a bank that knows the financial situation of assessing the information of importers, after careful consideration, the NHFH issues a letter of credit and sends this letter of credit to the exporters through the NHTB. So when the instructions are not clear ... to verify the true authenticity of the letter of credit, you must meet NHFH. Question 17 : Using the term D / P in payment for safe collection for exporters more than D / A is a) It's correct b) False  A. Because D / P is the right method of buying and selling, after the importer pays, he / she can receive the goods. While D / A is a common purchase fuong bear, who accepted to signonly accept bills paid on tenor will DC NH awarded vouchers  The export of goods vulnerable in bar t oan Question 18 : The signer of B / E is: a) Bank b) Export c) Depends on B / E usage  1 B. Since the draft is very đk orders paid by export letters demanding money importers Reunited after delivery of goods exporters ServiceCentre Question 19 : In documentary credit operations , all relevant parties only trade based on: a) C inspiration from b) Goods and Services d ịch c) Other transactions that vouchers may be related to A. Because credit  1 text documents used in payment commitments, including ISSUING BANK will be responsible for paying for the parties concerned, when they present full documentation prescribed and all provisions, of a credit đk DC full implementation  documentary credit so only based on the evidence from the transaction without the goods based on ServiceCentre Question 20 : The calculated currency and payment currency in the BTA must be a freely convertible foreign currency: a) It's correct b) False  B. Because the currency and currency used in the BTA are agreed by both parties, it can be in local currency, strong foreign currency or a third country currency, currency. general Question 21 : In TMQT when the exchange rate increases (according to the direct price list), to whom? a) Exporter b) Importer 4

c) NH d) All parts  A. Because when the exchange rate rises (listed in direct pp), the local currency depreciates, the currency appreciates. Then the exporter is the one who collects the money, so when there is a foreign currency they exchange it into the local currency and they will collect more local currency. Question 22: According to the ICC URC 522, the following documents are commercial documents? a) Draf t b) Promissory note c) Check d) Invoice  D. As per ICC URC 522, financial documents including check; commercial documents invoice, contract, B / L ... Question 23: According to the ICC following documents are commercial documents

draft,

promissory

URC

note,

522, the

a) Draft b) Promissory c) Check d) C / O  D. As per ICC URC 522 of the financial documents including: draft, promissory note, paychecks. Commercial documents also include: Invoice, B / L, C / O, contract ...  Commercialdocuments are C / O Question 24 : Who is the "consignee" item in the bill of lading in the collection document? a) NK bank b) NK people c) Representatives of export people d) Bank appointed B. Payment  NH collection mediate only payment that must be paid not should not bear the risk of payment, the payer who should NK consignee position as importers Question 25: According to the ICC URC 522 following documents are financial documents a) Invoice b) Contract c) Bill of lading d) Bill of exchange  D. Because financial documents are those documents should be used to pay for goods, ServiceCentre, including the draft (bill of exchange); money order (promissory note); sec (cheque). Also commercial documents including receipts, transport documents, insurance docum ents such as invoice, contract, bill of lading, C / O ...

5

Question 26: According

to

the

ICC

URC

522, the

following documents are financial documents a) Promissory note b) Contract c) Invoice d) C / O  A. Because according to ICC URC 522 of the financial documents including: Draft, promissory note, check; commercial documents including C / O, B / L, invoice, contact ...  financial documents are promission note. Question 2 7: In the L / C, the terms of the goods do not have a tolerance number and there are no terms "For", "about", "circa". According to the UCP 500 of ICC, is it understood that the dug is wrong? a) No b) + 10% c) + 5% d) + 3%  C. According to Article 39b-UCP500 in the L / C, the terms of the goods do not have a tolerance number and there is no term "for", "about", "circa", then the tolerance is understood as + 5% Question 2 8: The consignee in the bill of lading in the voucher payment L / C is? a) Importers b) Representative of the NK c) At the order of the Issuing Bank L / C d) The bank is designated  C. Because the issuer is responsible for payment, the bank has to request delivery according to its orders to avoid risks. Question 2 9: When will the cargo insurance certificate be signed? a) Before delivery b) Same day delivery c) After delivery date d) chosen by the bank  B. Because if later than the goods not covered in the first DC given time  easy to suffer when buying insurance after delivery, even if not required to buy insurance before the delivery date is not must buy  avoid capital loss (for L / C, to open L / C importer) must buy insurance before L / C is opened, sign the voucher and transfer to the open bank L / C bank opens L / C as the beneficiary of insurance) Question 3 0: What date is the date of the commercial invoice a) Before delivery b) After the insurance certificate date c) After the date of bill of lading d) Determined by the carrier 6

 A. Because the commercial invoice is a type of accounting voucher set up by the exporter , which includes the contents of the exporter , importer, serial number, date and place of establishment, signature of the maker. and description of goods, unit prices, quantity of goods, total value of goods, delivery items ... so it is presented when the two parties sign the contract and the importer accepts the internal In the invoice, the new commercial contract occurred  it was signed before delivery Question 3 1: When is the bill of lading signed? a) Before the draft at sight b) Before the insurance date c) Before the date of commercial invoice d) After the date of the commercial invoice  D. Because if there is no separate note on the delivery date on the bill of lading, the date of delivery (signed) is the delivery date. If the shipment shows the date of the "on board" other than the date of issuance of the bill of lading, the date of departure shall be considered as the date of issuance of the bill of lading whether it is before or after the bill of lading, but the commercial goods are signed before the date of delivery. item  ocean bill of lading signed after the date of the TM invoice 3 sentence 2: In the voucher payment L / C provisions presented "Insurrance policy" must be present a) Insurrance certificate b) I nsurrance policy c) Insurrance certificate or Insurrance a policy d) Covernote  B. As prescribed by the L / C is required to present the documents requested Fu with the L / C  asked to show that they must produce the policy Insurrance Insurrance policy correct, if not correct, the present That document is considered unsuitable  not paid 3 Question 3: In the contract late payment exporters should choose what bills? a) Immediately pay b) Yes sign for acceptance c) Bank draft d) Having a guarantee  D. BECAUSE guaranteed bills of exchange, the person standing surety must be financial, reputable businesses  financial solvency for DC exporters ensure  Exporters limit the risk 3 sentence 4: In trade acceptances "Blank endorsed" understand what is DC? a) Non-signing b) The title clearly states the name of the transferor and the transferee c) The record of the transferor's name d) The name of the transferee is recorded  C. Blank endorsed: blank end. When the endorser is empty, it means that only the transferor does not mention the name of the recipient Question 3 5: In what international trade should exporters use? 7

a) By order b) Cross out c) Identity d) Confirmation  D. Because the check confirms that the bank's confirmation of payment  ensures payment ability for the exporter  Exporters limit the risk Question 3 6: In the international trade relations when the parties understand and trust each other, what payment method should be used? a) Money transfer b) Open a book account c) Thanks to smooth collection d) Credit vouchers  A. Because money transfer is the simplest international payment method for procedures and quick implementation Question 3 7: Who sets up D / P collection terms? a) Importer b) Exporter c) Remiting d) Collecting bank  B. Because the exporter set up a collection order, the terms of the collection order are set up by the exporter Question 3 8: In international trade, who is the requester using money transfer (T / T; M / T)? a) The NK b) Exporters c) NK party bank d) The bank of the export party  A. Because the NK is the person who requests money transfer to pay the exporter. Therefore, depending on the specific case, the NK requires using the form of money transfer (M / T; T / T) Question 3 9: Why is the foreign currency buying rate at NH lower than the transfer transfer rate? a) NH does not like to receive cash b) The bank likes to receive by bank transfer c) High cash supply of foreign currencies d) CF for high cash  D. Question 4 0: The time limit for delivery of the L / C back to back with the original L / C must ntn? a) Before b) After c) Same day 8

d) Depending on the shipper choose  A. Because after receiving the L / C granted by the importer, the exporter base on this L / C content and use this L / C as collateral to open another L / C for the person Differences with content similar to the original L / C  Exporters after L / C Post to NH  who imports, exporters garnered goods from L / C new and take delivery of the goods for the import L / C original been used mainly through intermediary trading (this exporter acts as an intermediary) Question 4 1: In the mode of international trade processing, the parties can apply the L / C below: a) Irrevocable credit b) Confirmed credit c) Reciprocab credit d) R ed Clause credit  C. Reciprocal L / C: Reciprocal letter of credit: is an L / C type that only begins to take effect when the L / C corresponds to it opened. Reciprocal L / C is used in reciprocal trade processing Question 4 2: In Vietnam, which organization conducts C / O? a) Exporters b) Commercial banks c) Vietnam Chamber of Commerce and Industry d) Vinacontrol  C. For C / O_Certificate of origin: certificate of origin  issued by the Chamber of Commerce and Industry Question 4 3: Who is the payment guarantee for import and export goods? a) The NK b) Exporters c) NK bank d) Export bank  B. Because of the ability to pay for exporters  Exporters do not have to bear the risk of payment Question 4 4: A commercial contract with payment guarantee will benefit anyone a) Exporters b) The NK c) NK bank d) Export bank  A. Because of this, the exporter will be guaranteed to pay  avoid risks in payment. Question 4 5: In the L / C, the terms of goods use the terms "for", "about", "circa" - only the number of goods according to the UCP500 of ICC, what tolerance is a) No b) + 10% c) +5% d) + 3% 9

 B. According to Article 39a of UCP 500, when using the terms "for", "about", "circa", the tolerance for the item is + 10% 6 Question 4: The international trade documents DC up at the request of whom? a) Exporter b) Importer c) NK bank d) Export bank  B. Because it is the basis for the importer to determine if the goods are delivered as agreed in the contract, the quality, origin ... of the goods, is the delivery date correct? In order for a dispute to occur, the importer has evidence to sue. On the other hand, it is also a basis for importers to receive goods when presenting documents Question 4 7: According to the ICC UCP 500 in insurance documents if not specified the amount insured, DC minimum amount is how much? a) 100% CIF price b) 110% CIF price c) 110% FOB price d) 100% invoice price  B. Because under 34 UCP 500 rules, the insurance documents if not specified the amount insured, DC minimum amount is 110% of the CIF price (including 100% of the contract value, 10% dominant: CFs, offsetting the expected profit) Question 4 8: The checking bank only accepts payment of the following bill of lading a) Receive for hàng B / L b) Clean B / L c) Clean shipped on board B / L d) Order B / L endorsement in blank  C. Since clean shipped on board B / L_ clean menu when the goods have been loaded onto the deck of the sea waybill  After the goods have been loaded onto the deck, the outside look ensures the packaging specifications, number amount of categories Question 4 9: In the payment method thanks to a clean collection, the export person must present any documents ? a) Bill of lading b) Bill of exchange c) I nvoice d) Contract  B. Since the payment method is smooth, the importer authorizes the bank to collect money from the importer, only on the draft issued by the exporter . The commercial documents by the XK delivered directly to the importer, not through NH.Vi B / E  The export bills need only B / E Question 5 0: Who signed the L / C vote a) Exporters b) The bank informs c) Beneficiary 10
...