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SCF Quizzie Volume 2

Authored by Vijay Irkal

Professional Development

1st Grade

Used 5+ times

SCF Quizzie Volume 2
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20 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

when did URC 522 came into effect ?

01 January 1996

2 January 1996

On you birthday

When India got independence

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Number of Articles Present in URC 522

25

23

26

14

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following rules govern a Documentary Collection?

URDG758

UCP 522

UCP 600

ISP98

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In collections there is no guarantee (promise) of payment and no guarantee that an accepted Draft will be paid on the due date.

False

True

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A Presenting Bank sends a notice of non-acceptance to a Remitting Bank and has not received a reply from them. How many days should the Presenting Bank wait for instructions regarding the further handling of the documents before they may be returned to the Remitting Bank?

30 days

90 days

60 days

45 days

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In Collection, The documents are handled within the Banking system and remain in Bank's custody until payment or acceptance is received from the Buyer.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are the parties to a collection.

a. Principal

b. Issuing bank

c. Collecting bank

d. Presenting bank

e. Remitting bank

f. Advising bank

a only

a, c,d,e

a,b,c,d,e,f

a,c,d,f

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