ISLAMIC TRADE FINANCING

The two types of method settlement is cash advance and close account.

• TRUE

• FALSE

In Al-musharakah concept of letter of credit the bank acts as a partners.

• TRUE

• FALSE

Which of the followings is NOT Shariah principle of letter of credit?

• Al-Wakalah

• Al-Musharakah

• Al-kafalah

• Al-Murabahah

In the shipping guarantee, the buyer or customer uses it as a replacement for ______________.

• Bil of lading

• Bill of exchange

• Acceptance bill

• All the answer

Which of the following is NOT essentially things in INCOTERMS ?

• Health

• Risk

• Cost

• Responsibility

Which of the following terms is the seller will be required to deliver good to a carrier appointed by the buyer ?

• E terms

• F terms

• C terms

• D terms

Which of the following terms is the seller will make good available to the buyer on the seller’s own premises ?

• E terms

• F terms

• C terms

• D terms

Which of the following terms is the seller bear all cost and risks until the goods arrive to buyer destination ?

• E terms

• F terms

• C terms

• D terms

Which of the following terms is the seller required to contract for the carriage ?

• E terms

• F terms

• C terms

• D terms

Which of the following is NOT the benefit of using INCOTERMS?

• Business Standardized

• Avoid documentation from delay

• Prevent Dispute over the payee.

• Strengthen external control