WorksheetsISLAMIC TRADE FINANCING
Total questions: 12
Worksheet time: 29mins
The two types of method settlement is cash advance and close account.
TRUE
FALSE
In Al-musharakah concept of letter of credit the bank acts as a partners.
TRUE
FALSE
Which of the followings is NOT Shariah principle of letter of credit?
Al-Wakalah
Al-Musharakah
Al-kafalah
Al-Murabahah
In the shipping guarantee, the buyer or customer uses it as a replacement for ______________.
Bil of lading
Bill of exchange
Acceptance bill
All the answer
Which of the following is NOT essentially things in INCOTERMS ?
Health
Risk
Cost
Responsibility
Which of the following terms is the seller will be required to deliver good to a carrier appointed by the buyer ?
E terms
F terms
C terms
D terms
Which of the following terms is the seller will make good available to the buyer on the seller’s own premises ?
E terms
F terms
C terms
D terms
Which of the following terms is the seller bear all cost and risks until the goods arrive to buyer destination ?
E terms
F terms
C terms
D terms
Which of the following terms is the seller required to contract for the carriage ?
E terms
F terms
C terms
D terms
Which of the following is NOT the benefit of using INCOTERMS?
Business Standardized
Avoid documentation from delay
Prevent Dispute over the payee.
Strengthen external control
Who is the drawer in bill of exchange?
Seller
Buyer
Drawee
Which of the following is NOT the functions of bill of exchange?
To manage the risk of exchange rate fluctuation
Seller able sell to third party as financing tools.
As evidence of payment
As trading in equity market
