国际结算课后练习(3)

Ⅱ.Translate the following terms and sentence into English 1 信用证表面的真实性 2 标准国际银行惯例 3 信息交换系统

4 有足够的资金来支付信用证

5 买方考虑自己的要求也同样的重要

Ⅲ.Decide whether the following statements are true or false

1 If a credit is issued by airmail ,it ought to be authenticated by test key .( )

2 The issuing bank’s signature is only to be placed on the advice for the beneficiary .( ) 3 Utilization of the credit is the process of the seller shipping the goods ，presenting the documents and getting informed .( )

4 If the credit is advised by a certain bank ,the amendment must also be advised by the same bank.( )

5 In examination of the documents ,banks should follow the rule lf “strict compliance”.( ) 6 The credit is legally quite independent of the underlying transaction.( )

7 An issuing bank must always reimburse the advising bank if the latter pays the credit. 8 If the tele-transmission states “full details to follow”,then it will mot be deemed tl be the operative credit instrument .( )

9 Banks will mot accept a document bearing a date lf issuance prior to that of the credit .( )

10 If the credit is a deferred payment credit ,there is no need to draw a draft .( )

Ⅳ.Choose the best answer to each lf the following statement

1 In addition to stipulating an expiry date for presentation of documents ,every credit should also stipulate a specified period of time after the date of shipment during which presentation must be made .If no such period of tine is stipulated ,banks will not accept documents presented to them ___.

Chapter Eight

Ⅲ.Decide whether the following statements are true or false 1. A commercial invoice is a kind of title documents .( )

2. A cover note can be transferred so it is a negotiable instrument .( ) 3.A short form bill of lading is document of title.( )

4.An unclean bill of lading is one which bears any clause or notation .( )

5.Cover notes issued by brokers will not be accepted , even specifically authorized in the credit .( )

6.Banks will not accept a document bearing a date of issuance prior to that of the credit.( )

7.If a credit calls for an insurance certificate , banks will not accept an insurance policy.( )

8.Unless otherwise stipulated in the credit ,the insurance document must be expressed in the same currency as the credit .( )

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9.Commercial invoice meed mot be signed.( )

10. A clean bill of lading is one that is not stained.( )

Ⅳ.Choose the best answer to each of the following sratements 1 Which of the following transport documents is negotiable ? ___ A Marine bill of lading B Air waybill C Rail waybill

D FIATA Forwarder Certificate of Receipt

2 A bill of lading is a receipt for goods . When is a bill of lading issued ? ___ A When the shipper makers up the order B When the carrier receives the goods

C When the producer manufactures the goods

D When the carrier delivers the goods to the consignee

3 The shipper wants assurance that the goods will reach their destination .The bill of lading gives him this assurance .It thus serves as a ___ A title document

B negotiable instrument C receipt for goods D contract for delivery

4 The bill of lading is evidence of ownership .It thus functions as a ___ A title document

B negotiable instrument C receipt for goods D contract for delivery

5 A commercial invoice is ___

A a contract for delivery of the merchandise B demand for payment

C a statement describing the merchandise ,its cost ,and shipping charges D a promise of payment

6 A bill of lading that states “consigned to J. Smith “ is a ___ A short form bill of lading B negotiable bill of lading C straight bill of lading D long form bill of lading

7 Under FOB terms ,the bill of lading would state ___ A goods loaded on board ,freight paid

B goods received for shipment ,freight payable at destination C goods loaded on board ,freight payable at destination D goods received for shipment ,freight paid

8 Marine insurance policies do not always cover ___ A all deliberate losses that save the ship B all accidental total losses C all partial losses

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D voluntary losses to save ship from danger

9 If a bill of lading is dated March 5 ,2001 ,the insurance should be covered ___ A on March 5 ,2001 B before March 5 ,2001 C after March 5 ,2001

D on or before March 5 ,2001

10 Commercial invoice must be made out in the name of ___

A the applicant B the beneficiary C the issuing bank D the advising bank 11 Abill of lading that bears a wording “bale broken” is ___ A a short form bill of lading B a clean bill of lading C a stale bill of lading

D an unclean bill of lading

12.A bank will not accept______.

A.an insurance policy B.an insurance certificate C.an open cover D.a cover mote

13.If a credit calls for an insurance policy,banks will accept_______. A.an insurance policy B.an insurance certificate C.both A and B D.open policy

14.The minimum amount of the insurance cover must be_______ A.110% of CIF value B.110% of CIP value C.110% of invoice value D.110% of FOB value

15._________a railway receip______an air consignment not is a document of title to goods in the same way that a bill of lading is. A.Neither…nor B.Either…or C.Not…but also D.Both…and 16.A consular invoice signed by______

17.______is the person or company that holds himself or itself liable to compensate the assured in the event of a loss to the insured property proximately caused by a peril insured against.

A.The broker B.The insurer C.The carrier D.The claimant 18.The bill of lading is evidence of the contract of carriage _____. A.between the shipper and the carrier

B.between the issuing, bank and the carrier C.between the applicant and the carrier D.between the exporter and the importer

19.Which one of the following documents is quasi-negotiable instrument ?_____ A.A draft B.An invoice

C.A bill of lading D.A bill of exchange

20.When the exporter agrees to sell on open account terms, he should ask the shipping company to issue ______.

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A. combined transport documents B.bills of lading C. air waybill D. ships waybill

Chapter Nine

Ⅳ.Choose the best answer to each of the following statement

1 Clients of a factoring are thus able to eliminate or reduce the need for credit ,____and other related administrative activities. A knowledge of the market B bookkeeping

C competitive open account selling terms D bad debt

2 The factor may grant financing to the client prior to the maturity of the invoice by ___ A purchasing the latter’s accounts 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

3 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 lf trade terms . A creditworthiness B credit standing C interest

D average invoice size

4 In a factoring ,the seller gets access to finance linked to his ___ A overdraft limit

B historic balance sheet ratios C current levels of business D sales prospects

5 The seller can get assistance from the factor by latter’s providing an assessment of the creditworthiness of the overseas buyers as well as by latter’s offering credit protection and ___

A sales accounting

B development of new markets C international sales D collection service

Chapter Ten

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

1 A___refers to any guarantee ,bond or other payment undertaking of the instructing party given in writing for the payment of money to the guarantor on presentation in conformity with the terms of the undertaking of a written demand for payment and other documents specified

A demand guarantee B counter guarantee C conditional guarantee

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D dependent guarantee

2 Under indirect guarantees,the ___must formally pledge to pay the amount claimed by the beneficiary under the guarantee upin demand by the guaranteeing bank. A initiating bank B beneficiary

C guaranteeing bank D principal

3 Conditional bonds requiring documentary evidence give maximum protection to the ___. Payment can only be called for by the ___against production of a specified document,such as a certificate of award by an independent arbitrator. A exporter importer B importer importer C importer exporter D exporter exporter 4 ___is not included in the category of payment guarantee A Deferred payment bond

B Guarantee for compensation trade C Loan guarantee D Bid bond

5 Payment guarantee is a security mechanism for payment of the contract amount. . In this case ,the ___is primarily liable tothe beneficiary A contractor B exporter C issuing bank D instructing party

Chapter Eleven

Ⅰ.Fill in the blanks to complete each sentence

1 The Uniform Rules for Collections are internationally recognized codification of rules unifying banking practice regarding ___

2 ICC No.522 , shall apply to ___where such rules are incorporated into the text of the “___” and are binding on all parties thereto unless otherwise expressly agreed or contrary to the provisions of a national , state or local law and / or regulation which can not be departed from.

3 ICC Publication No.500 shall apply to ___(including to the extent to which they may be applicable ,Standby Letter(s) lf credit) where they are incorporated into the text lf the ___. They are binding on all parties thereto ,unless otherwise expressly stipulated in the credit.

4 The Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits , ICC Publication No.525 ,shall apply to ___where they are incorporated into the text of the ___.They are binding on all parties thereto , unless otherwise expressly stipulates in the Reimbursement Authorization.

5 ICC Publication No.458 apply to ___which a guarantor has been instructed to issue and which states that it is subject to ICC Publication No.458 and are binding on all parties thereto except as otherwise expressly stated in the ___

6 In documentary credit operations all parties concerned deal in ___and not in ___.It is the

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