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REVISION CHAPTER 6 IBPS

Total questions: 17

Worksheet time: 9mins

Name
Class
Date
1.

In order to facilitate international trading, bank usually will offer services such as trade finance, foreign exchange transaction and corporate finance.

a)

True

b)

False

2.

A ______ is a major tool of trade finance and clients look forward to their banker to extend the facility.

a)

Bank guarantee

b)

Shipping guarantee

c)

Bill of exchange

d)

Letter of credit

3.

Al wakalah refer to ____

a)

Payment

b)

Hire Purchase

c)

Agency

d)

Dealer

4.

Which of the following letter of credit that need to deposit 100% money for the process.

a)

Al musharakah

b)

Al wakalah

c)

Al dayn

d)

Al mudharabah

5.

Al murabahah letter of credit refer to a joint venture on profit and loss sharing between a bank and customer whereby customer has to contribute part of capital in joint project.

a)

True

b)

False

6.

Financing for item under Murabahah working capital include purchase of stock and inventories, spares, and replacement, semi-finished goods and raw materials.

a)

True

b)

False

c)

f

7.

Factoring is a financial transaction whereby a business sells its account receivable (invoices) to a second party at a discount prices in exchange for money.

a)

True

b)

False

8.

Factoring is ______

a)

A loan

b)

Not a loan

c)

A leasing

d)

A financing

9.

Factoring involve _____ party.

a)

One

b)

Two

c)

Three

d)

Four

10.

Three parties involve are.....

a)

Receivable, debtor, agent

b)

Receivable, creditor, agent

c)

Receivable, debtor, factor

d)

Receivable, creditor, factor

11.

Bai al dayn is usually a short-term facility with the maturity of a year or less.

a)

True

b)

False

12.

Accepted bill that drawn by the bank and accepted by the importer known as?

a)

Musharakah

b)

Murabahah

c)

Mudharabah

d)

Wakalah

13.

Accepted bill that drawn by the exporter and accepted by the bank is known as?

a)

Al bay

b)

Al wakalah

c)

Al dayn

d)

Al ujr

14.

The bank may provide the facility of a letter of guarantee to its customer for certain purposes under the principles of?

a)

Al wakalah

b)

Al kafalah

c)

Wadiah

d)

Tawarruq

15.

Importer can take the delivery of good with absent the document can applied the contract of?

a)

Banker guarantee

b)

Letter of credit

c)

Shipping guarantee

d)

Murabahah guarantee

16.

Customer can get double protection when they use?

a)

Shipping guarantee

b)

Banker guarantee

c)

Murabahah working capital

d)

Letter of credit

17.

Banks facilitates international trade financing through their relation with other international banks.

a)

True

b)

False