
Quiz on Payment in International Trade

Quiz
•
Other
•
Professional Development
•
Hard
Suzylyana idris
Used 1+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the ultimate goal for each export sale?
To minimize shipping costs
To get paid in full and on time
To increase market share
To establish long-term relationships
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which payment method is considered the most secure for exporters?
Bills for Collection
Advanced Payment
Documentary Credits
Open Account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do exporters prefer regarding payment timing?
Payment upon invoice receipt
Payment after delivery
Payment before shipment
Payment within 30 days
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of Documentary Credits?
They are only used for domestic trade
They are always revocable
They provide security for all parties
They require no documentation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'Applicant' refer to in a Documentary Credit?
The seller
The bank
The buyer
The shipping company
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of the Advising Bank?
To issue the credit
To hold the documents
To confirm the credit
To negotiate the payment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if the documents presented do not comply with the terms of the credit?
The seller loses the goods
The bank must pay anyway
The buyer must pay a penalty
The bank can refuse to honor the credit
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