2012国际结算复习题一

1. New York is the clearing centre for ( A )

A. USD

B. GBP

C.EUR

D.HKD

2. Documentary credit business is subject to ( A )

A. UCP600

B.URC522

C. URDG758

D. ISP98

3. A cheque must be signed by （ A ）

A.the drawer B the drawee C. the payer D. the payee

4. The（C ）of a promissory note assumes the prime liability to make payment of the note.

A. holder

B. drawee

C. maker

D. acceptor

5. Collection business is subject to ( B )

A. UCP600

B.URC522

C. URDG758

D. ISP98

6. Tokyo is the clearing centre for ( D )

A. USD

B. GBP

C.EUR

D.JPY

7. TARGET is the electronic clearing system for ( C )

A. USD

B. GBP

C.EUR

D.JPY

8. Among the following documents, the one which is not regarded as control documents is ( D )

A. authorized signatures

B. test keys

C. schedule of terms and conditions

D. correspondent arrangement

9.（ A ）cheque can be cashed over the counter of paying bank.

A. An open

B. A crossed

C. A general crossing

D. A special crossing

10. A （ B ）carries comparatively little risks and can be discounted at the finest rate of interest.

A. sight bill

B. bank bill

C. time bill

D. commercial bill

11. A term bill may be accepted by the （B ）

A. drawer

B. drawee

C. holder

D. payee

12. The bill which must be presented for acceptance is （B ）

A. the bill payable at xx days after date

B. the bill payable xx days after sight

C. the bill payable on a fixed date

D. the bill payable at sight

13. An endorsement ,which prohibits the further negotiation of the instrument ,is called （D ）endorsement .

A. qualified

B. general

C. specific

D. restrictive

14. The （B ）of the draft is the person who is instructed to make the payment .

A. drawer

B. drawee

C. payer

D. payee

15. The act which is never involved in check business is （ C ）

A.endorsement

B.dishonor

C.acceptance

D.presentation

16. The acceptor of a bill is the person who originally named as ( B ) of the bill.

A. drawer

B. drawee

C.payee

D.endorser

17. The first endorser of a bill is the ( C ) of the bill

A. drawer

B. drawee

C.payee

D.acceptor

18. Which of the following is not a method of remittance? （ C ）

A. M/T

B. T/T

C. T/R

D. D/D

19.In remittance business ,the remitting bank may send the payment order to the paying bank through SWIFT by ( A )

A. MT103

B.MT202

C. MT400

D.MT700

20. 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 us

B.in cover , please debit our A/C with you

C.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with them

D.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank

21. It will be more convenient if the collecting bank appointed by the seller （ B ）

A. is a large bank

B. is the remitting bank’s correspondent in the place of the importer

C. is in the exporter’s country

D. acts on the importer’s instructi ons

22. In collection business, dedailed instructions must be sent to the collecting bank （ B ）

A. in the application form

B in the collection order

C. in the documents

D. in the sales contract

23. In collection business, dedailed instructions must be given to the remitting bank （ A ）

A. in the application form

B in the collection order

C. in the documents

D. in the sales contract

24. A bill of exchange which is accompanied by shipping documents is known as （ B ）

A. a clean bill

B. a documentary bill

C. a clean collection

D. a documentary collection

25. All the parties to a collection are bound by （C ）if the collection is subject to it.

A. UCP500

B.UCP600

C. URC522

D.URDG758

26. Which of the following is not the obligation of the collecting bank?（B ）

A.to verify the authenticity of the collection order

B. to take care of goods

C.to release documents strictly on the delivery terms of documents.

D.to perform following all the instructions given by the remitting bank.

27. Case of need in collection business is the representative of （A ）

A.the principal

B.the remitting bank

C.the collecting bank

D.the drawee

28. In L/C business , the exporter can receive the payment only when __C____

A. he has shipped the goods

B.he has presented the documents

C.the documents presented constitute a complying presentation

D.the importer has taken delivery of the goods.

29. The issuing bank can refuse to pay the credit amount when ____C___

A.the applicant prevents him from making payment

B.the goods are not the same as those stipulated in the sales contract

C.one kind of document required by L/C isn’t presented.

D.b alance of the applicant’s account is not enough for payment .

30. 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 credit

B.reciprocal credit

C.revolving credit

D.back to back credit

31. 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 credit

B. reciprocal credit

C. revolving credit

D.confirmed credit

32. 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 tern contract covering goods to be transported by regular partial shipments.

A.non-transferable credit

B.reciprocal credit

C.revolving credit

D.back to back credit

33. 33. The second beneficiary of a transferable letter of credit is the ( D )

A. middleman

B. transferring bank

C. the applicant of the transferred credit

D. real supplier of the goods

34. The first beneficiary of a transferable letter of credit is the ( A )

A. middleman

B. transferring bank

C. the applicant of the transferred credit

D. real supplier of the goods

35. An applicant must reimburse an issuing bank unless he finds that ( D )

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 face to the terms and conditions of the credit

36. Under letter of credit, the primary debtor is the( C )

A. applicant

B. importer

C. issuing bank

D. nominated bank

37. The beneficiary of letter of credit is ( A )

A. the exporter

B. the importer

C. the exporter’s bank

D. the importer’s bank

38. Unless otherwise stipulated , banks will not accept ( D )

A.direct B/L

B.order B/L

C. liner B/L

D.received for shipment B/L

39. Commercial invoice must be made out in the name of ( B )

A.the beneficiary

B.the applicant

C.advising bank

D.issuing bank

40. 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%

41. London is the clearing centre for ( B )

A. USD

B. GBP

C.EUR

D.HKD

42. 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; exporter

B. exporter; importer

C. importer; importer

D. exporter; exporter

43. To the exporter, the fastest and safest method of settlement is ( B )

A. letter of credit

B. cash in advance

C. open account

D. banker’s draft

44. The collecting bank will make a protest only when （ C ）

A. the documents are rejected

B. the case of need is nominated

C. instruction to protest is given by the collection order

D. protective measures in respect of the goods are taken.

45. 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 us

B.in cover , please debit our A/C with you

C.in cover , we have authorized xxx bank to debit our A/C and credit your A/C with them

D.in cover , we have instructed A bank to pay the proceeds to your A/C with B bank

46. Of the following kinds of L/C , ( C ) is the L/C in which drafts are always required.

A.sight payment credit

B.deferred payment credit

C.acceptance credit

D.negotiation credit

47. 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 credit

B.reciprocal credit

C.revolving credit

D.back to back credit

48. Which of the following payment method is based on commercial credit?( C )

A.letter of credit

B.banker’s letter of guarantee

C. collection

D. standby credit

49. Under D/A, the documents will not be delivered to the buyer until （D ）

A. the goods have arrived

B. the documents have arrived

C. the documents are presented to the buyer

D. the bill is accepted by the buyer

50. Which type of collection offers the greatest security to the exporter? （ B ）

A. documents against acceptance collection

B. documents against payment collection

C. clean collection

D. documentary collection

51.Frankfurt is the clearing centre for ( C )

A. USD

B. GBP

C.EUR

D.HKD

52. The draft with the tenor written as ( B ) must be presented for acceptance.

A.payable at sight

B. payable at 30days after sight

C. payable at 30 days after date

D. payable at 30 days after shipment date

53. In collection business, banks are obligated to verify the documents received to see that （C ）

A. they are authentic

B. they are regular

C. they are the same as those listed in the collection instruction

D. they are in the right form

54. 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 bank

B. the advising bank

C. the beneficiary

D. the applicant

55. Unless otherwise stipulated , banks will not accept ( C )

A.direct B/L

B.order B/L

C. unclean B/L

D.liner B/L

56. 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 bank

B. the remitting bank maintains an A/C with paying bank

C. both remitting bank and paying bank maintain their A/Cs with a third bank

D. remitting bank and paying bank have their A/Cs with two different banks

57. The credit may only be confirmed if it is so authorized or requested by ( A )

A. the issuing bank

B. the supplier

C. the advising bank

D. the beneficiary

58. The endorsement which has no intention to transfer the ownership of the instrument is ( D )

A. blank endorsement

B. special endorsement

C. conditional endorsement

D. endorsement for collection

59. Under D/P, the documents will not be delivered to the buyer until （ D ）

A. the goods have arrived

B. the documents have arrived

C. the documents are presented to the buyer

D. the bill is paid by the buyer

60. Confirmation of a credit may be given by （B ）

A. the beneficiary at the request of the importer

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

61. The drawer of a draft drawn under letter of credit may be ( A )

A. the beneficiary

B. the applicant

C. the issuing bank

D. the negotiating bank

62. The red clause credit is often used as a method of ( B )

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

63. CHIPS is the electronic clearing system for ( B )

A.GBP

B. USD

395c2e32f32d2af90242a8956bec0975f465a48eY

D. EUR

64. In collection business, the drawee of the draft for collection is ( B )

A. seller

B. buyer

C. remitting bank

D. collecting bank

65. The message type which is used to issue letter of credit through SWIFT is numbered ( A )

A. 700

B. 705

C. 707

D. 710

66. To the importer, the most favorable method of settlement is ( C )

A.letter of credit

B. cash in advance

C. open account

D. collection

67. CHAPS is the electronic clearing system for ( A )

A.GBP

B. USD

395c2e32f32d2af90242a8956bec0975f465a48eY

D. EUR

68. BOJ-NET is the electronic clearing system for ( D )

A. USD

B. GBP

C.EUR

D.JPY

69. The seller should arrange for the insurance of the goods transportation under ( C )

A.FOB

B.CFR

C.CIF

D.EXW

70. The means of authenticating payment order in telegraphic transfer is the（ C ）

A. correspondent arrangement

B. schedule of terms and conditions

C. test key

D. authorized signatures

71. The instructions for collection are mainly （D ）

A. given in the S/C

B. written on the bill of exchange

C. given by the importer

D. given by the exporter

72. The applicant of letter of credit is ( B )

A. the exporter

B. the importer

C. the exporter’s bank

D. the importer’s bank

73. A bill of lading doesn't function as ( D )

A. a contract of transportation

B. a receipt of goods

C a certificate of title to the goods D. an accounting document

74. If the bill is payable “60 days after date”, the date of payment is decided according to （C ）

A. the date of acceptance

B. the date of presentation

C. the date of issuance

D. the date of maturity

75. The means of authenticating payment order in mail transfer is the （ D ）

A. SWIFT authentic key

B. schedule of terms and conditions

C. test key

D. authorized signatures

76. The party to whom the bill is addressed is called the（B ）

A. drawer

B. drawee

C. holder

D. payee

77. In collection business, the drawer of the draft for collection is ( A )

A. seller

B. buyer

C. remitting bank

D. collecting bank

78. Of the following kinds of L/C , __B_____is the L/C which require no drafts at all.

A.sight payment credit

B.deferred payment credit

C.acceptance credit

D.negotiation credit

79. A check is a （D ）draft drawn on a bank

A. time

395c2e32f32d2af90242a8956bec0975f465a48eance

C. direct

D. demand

80. The act which is never involved in promissory note business is （ C ）

A.endorsement

B.dishonor

C.acceptance

D.presentation

实务操作题

Please draw a draft according to the following materials:

Native Product Imp.and Exp. Corporation Jiangsu branch sold some goods valued GBP54,000.00 to Polar Furs LTD,London. For settlement ,the exporter drew a draft on the importer on Feb 20, 2012, asking the latter to pay 100% of the proceeds to the order of exporter 30 days after the date of issue.

（1）根据下列材料签发汇票

出口商（Native Products Imp.and Exp. Corporation, Jiangsu ）出售价值为54000英镑的货物给进口商（Polar Furs LID.，London）。为结清货款，出口商于2012年2月20日在南京签发一张汇票，要求进口商在见票后30天支付货款给出口商的指定人。

参考答案：

Exchange for GBP54,000.00 Jiangsu 20th Feb. 2012 At 30 days after date pay to the order of Native Products Imp.and Exp. Corporation, Jiangsu the sum of Pounds Fifty Four Thousand only.

To: Polar Furs LTD.,

London

For Native Products Imp. and Exp. Corporation,

Jiangsu

authorized signature

实务操作题

（2）根据下述内容分别作出背书、承兑和保证行为.

一张A公司出具的以B公司为受票人，C公司为收款人并转让给D银行办理托收的汇票在2012年2月26日获承兑后于同一天得到E银行的担保。

参考答案：

背书

pay to D Bank for collection

For C Co.

signature

承兑

Accepted

26th Feb., 2012

For B Co.

signature

保证

Per Aval

For account of B Co.

26th Feb., 2012

For E Bank

signature

Define the following Terms

1.Negotiable instrument (P.30)

2.Bill of exchange (P.40)

3.Protest(p.59)

4.Right of recourse(P.62)

5.Sight bill (P.68)

395c2e32f32d2af90242a8956bec0975f465a48eance bill(P.68)

7.Documentary bill(P.69)

8.Promissory note(p.69)

Read the following draft and give your answer to each of the following questions. Exchange for GBP5,000.00 Shanghai, Jan 15,2008

At 90 days sight pay this first bill(Second unpaid) to the order of the Bank of china the sum of Five Thousand Pounds only.

Value received

To: ABC company For China National Crafts Import &

London Export Corporation, S.B.

(signed)

1.Who is the drawer?

2.Who is the drawee?

3.Who is the payee?

4.Is this a demand draft or a tenor draft?

5.Is this a sola bill or a bill of exchange in two sets?

6.Where is the bill drawn?

Decide whether the following statements are true or false.

1.In a promissory note, the drawer and the payer are the same person.( )

2.A promissory note is an unconditional order in writing.( )

3.There is no acceptor in a promissory note. ( )

4. A draft is a conditional order in writing.( )

5.An open check can be paid into a bank account. ( )

6. An open check can be cashed over the counter. ( )

7. A crossed check can be cashed over the counter. ( )

8. If a bill is payable “at 30 days after date “, the date of payment is decided according to the date of acceptance. ( )

9.A bill payable “at 90 days sight” is a sight bill.( )

Answer the following questions.

1.What are the functions of negotiable instruments?(p.32-33)

2.What are the differences between a bill and a note? (P.73)

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