Unit 4 - done

Unit 4 - done

University

56 Qs

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Unit 4 - done

Unit 4 - done

Assessment

Quiz

English

University

Practice Problem

Easy

Created by

Nhật Đỗ

Used 19+ times

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56 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Export/ import financing in which a bank acts as an intermediary without accepting financial risk is called documentary collection.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sight draft extends the period of time following delivery by which the importer must pay for the goods.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A revocable letter of credit allows the bank issuing the letter to modify the terms of the letter only after obtaining the approval of both exporter and importer

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A confirmed letter of credit is guaranteed by both the exporter's bank in the country of export and the importer's bank in the country of import

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The advance payment method reduces the risk of non-shipment that the importer faces under the open account method

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these financing methods comprises the highest risk for importers?

Documentary collection

Advance payment

Letter of credit

Open account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these financing methods comprises the highest risk for exporters?

Documentary collection

Advance payment

Letter of credit

Open account

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