Quiz on Payment in International Trade

Quiz on Payment in International Trade

Professional Development

14 Qs

quiz-placeholder

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Quiz on Payment in International Trade

Quiz on Payment in International Trade

Assessment

Quiz

Other

Professional Development

Hard

Created by

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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