8. A sales contract is signed between the Japanese exporter and the Chinese importer, using CIF Shanghai port, China (Incoterms 2010). Which following term of this sales contract is unreasonable?

a. Transport document is marked "Freight prepaid".

c. Port of discharge: Shanghai port, China.

d. Insurance document is required.

11. What is the relation between draft's date and shipment date?

a. From the date of shipment or later

b. Same as the issued date of a commercial invoice

c. Earlier than the shipment date

d. It is up to the agreement of the seller and the buyer

12. The party issued a Bill of exchange

d. The bank services for the exporter

13. In an import-export contract, which complete price information below is correct?

a. USD 123.98/unit CFR Cat lai port, HCMC-Vietnam (Incoterm 2010)

b. US$ 103.98/unit CIF Cat lai port, HCMC-Vietnam (Incoterm 2010)

c. USD 133.98/unit. HCMC-Vietnam (Incoterm 2010)

d. USD 113.98/unit CFR, HCMC-Vietnam (Incoterm 2010)

14. A Bill of Exchange is issued only when

b. The seller shipped the goods already and payment term is collection

a. The seller wants to ask for the payment and the payment term is collection

c. The buyer wants to pay for a shipment and the payment term is collection

d. Both of the seller and the buyer have an agreement for the payment time and the Bill of Exchange be in time accordingly

16. Which following opinion is NOT Correct about CIF Bangkok port, Thailand (Incoterms 2010)?

b. Bangkok port is the port of shipment.

a. The buyer has not obligation to make a contract of carriage.

c. The seller has obligation to make a contract of insurance of the goods.

d. All risks of the goods are transferred in export country.

18. Right after isssued a Bill of Exchange, Which party the drawer present the Bill of Exchange to ?

a) Bank has name printed after “pay to order of” on that draft’s form

b) Any bank that could provide the collection service

c) The importer for the acceptance

d) A collecting bank in the importer country

22.From the perspective of then domestic bank,A Nostro account is?

a) A current account of the domestic bank opened at its correspondent bank

c) A current account of foreign bank opened at the domestic bank

23.Which of the following opinion is correct about FOB TOKYO Port,Japan(Incoterm 2010)

a) All risk of the goods are transferred in export country

b) The buyer has obligation to make a contract of insurance of the goods

c) The seller has obligation to make a contract of carriage

d) Tokyo port is the port of destination

24. Accroding to DDP(Incoterm 2010), the responsibility for the contract of insurance is of:

a) Both the seller and the buyer

25.A sale contract is signed betweem the Vietnamese exporter and the Korean importer, using FOB Cat Lai port, HoChiMinh city,Vietnam(Incoterm 2010).Which following term of this sales contract is reasonable

b) Transport document is marked “Freight prepaid”

c) Port of destination:Cat Lai port, Hochiminh city, Vietnam

2. L/C is available with nominated bank and the beneficiary presents the complying documents. Which following opinion is correct?

d. The beneficiary can receive funds from the nominated bank or the issuing bank

a. The issuing bank is only party who must honour to the beneficiary

b. The advising bank is the only party who must honour to the beneficiary

c. The nominated bank is the only party who must honour to the beneficiary

3. When the beneficiary checks an L/C at the advising bank, if he/she recognizes some details in L?C are different with the relevant contract, should he/she accept that L/C then implements the shipment accordingly?

a. Yes, if the differences do not affect on the beneficiary and the beneficiary can follow whole the contents included these differences.

b. Yes, the beneficiary can base on the relevant contract as the core of the agreement, L/C might just a complement for the contract.

c. Never accept any difference even thought the beneficiary can or cannot follow the difference.

d. Can accept only after get a confirmation form the applicant about the difference

6. Arrange the following international payment method in the order of decreasing the seller’s risk.

c. Clean collection > D/A > D/P > L/C > T/T before shipment

a. T/T before shipment > D/A > D/P > L/C > T/T after shipment

b. T/T after shipment > L/C > Clean collection > D/A > D/P

d. L/C > Documentary collection > Clean collection > T/T after shipment

7. Arrange the following internetional payment method in the order of increasing the buyer’s risk.

a. T/T after shipment < D/A < D/P < L/C < T/T before shipment

b. T/T after shipment < L/C < Clean collection < D/A < D/P

c. Clean collection < D/A < D/P < L/C < T/T before shipment

d. L/C < Documentary collection < Clean collection < T/T after shipment

8. A sales contracts shows: “Total amout: USD 200,000. Payment term: 30% contract value by D/P at sight and 70% cotract value by D/A 30 days after sight”. Which following opinion is NOT correct?

a. The collecting bank will give the documents when the buyer accepts to pay USD 200,000 on maturity date

b. The payment for the seller is the buyer’s responsibility.

c. The seller will receive USD 60,000 first and USSD 140,000 later.

d. The method of payment of this sales contract is documentary collection

9. In method of collection (D/P & D/A), the banks have obligation to...

b. Check the types and number of the documents received followed the collection instruction

a. Check the content of the documents received

c. Check the form and legal effect of the documents received

d. Check the content, type and number of the documents received appear followed the collection instruction.

Question 2: A sales contract shows: “Total amount: USD 200,000. Payment term: 20% contract value by T/T in advance and 80% contract value by irrevocable L/C at sight”. Which the following opinion is NOT correct?

a. The buyer has responsibility for undertaking to pay USD 160,000 to the seller

b. The buyer must pay USD 40,000 to the seller by T/T before shipment.

c. The seller will present the commercial documents to the bank after shipment

d. The seller will receive USD 40,000 first and USD 160,000 later.

Question 5: The date of the insurance document must be no later than...:

c. The issuing date of bill of exchange

Question 6: Arrange the following international payment method in the order of increasing the seller’s risk.

d. L/C < D/P < D/A < Clean collection < T/T after shipment

a. T/T after shipment < L/C < Clean collection < D/A < D/P

b. T/T before shipment < D/A < D/P < L/C < T/T after shipment

c. Clean collection < D/A < L/C < T/T before shipment

Question 7: A sales contract is signed between the Japanese exporter and the Chinese importer, using CIF Shanghai port, China (Incoterms 2010). Which following term of this sales contract is unreasonable?

a. Insurance document is required.

b. Transport document is marked “Freight prepaid”.

c. Port of discharge: Shanghai port, China.

Question 9: Who decide the draft’s number?

b. The bank services for the importer

d. The bank services for the exporter

Question 13: Which the following opinion is correct about FOB Tokyo port, Japan (Incoterms 2010)?

b. The seller has obligation to make a contract of carriage.

a. Tokyo port is the port of destination.

c. The buyer has obligation to make a contract of insurance of the goods.

d. All risks of the goods are transferred in export country.

Cuối kỳ 01

Quiz

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Business

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University

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Practice Problem

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Hard

Tai Nguyen

FREE Resource

c. Cheque, Airway bil, C/0

d. Bill of exchange, Insurance policy, Packing list

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Cuối kỳ 01

55 questions

Which following Incoterms 2010 rule show that China is the port of departure ?

Choose the Incoterms 2010 rule which the buyer has the highest obligation.

3. Who decide the draft's number?

4. Which following bill of exchange must be accepted and must show the date of acceptance?

5. Which following Incoterms 2010 rule requires the seller must make a contract of carriage and not obligated to buy Insurance ?

6. In international trade and payment, the issuer of commercial invoice is also .......(1) the drawer on bill of exchange, (2) the issuer of packing list, (3) the issuer of B/L, (4) the issuer of insurance policy

7. According to URC 522, which following documents are financial documents?

8. A sales contract is signed between the Japanese exporter and the Chinese importer, using CIF Shanghai port, China (Incoterms 2010). Which following term of this sales contract is unreasonable?

9. Choose the Incoterms 2010 rule which the buyer has the least obligation

10. Who is the drawee show on the bill of exchange in the method of collection ?

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