国际结算英文选择题90(附答案)

1. To the exporter, the fastest and safest method of settlement is ( B )

A. letter of credit

B. cash in advance

C. open account

D. banker’s draft

2. To the importer, the most favorable method of settlement is ( C )

A.letter of credit

B. cash in advance

C. open account

D. collection

3. Which of the following payment method is based on commercial credit?( C )

A.letter of credit

B.bank guarantee

C. collection

D. standby credit

4. An exporter sells goods to a customer abroad on FOB and on CIF terms, who is responsible for the freight charges in each? ( A )

A. importer; exporter

B. exporter; importer

C. importer; importer

D. exporter; exporter

5. International cash settlement has the following disadvantages except ( B )

A. expensive

B. safe

C. risky

D. time-consuming

6. CHIPS is the electronic clearing system for ( B )

A.GBP

B. USD

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D. EUR

7. CHAPS is the electronic clearing system for ( A )

A.GBP

B. USD

https://www.wendangku.net/doc/0c2255245.html,Y

D. EUR

8. BOJ-NET is the electronic clearing system for ( D )

A. USD

B. GBP

C.EUR

D.JPY

9. TARGET is the electronic clearing system for ( C )

A. USD

B. GBP

C.EUR

D.JPY

10. CHATS is the electronic clearing system for ( D )

A. USD

B. GBP

C.EUR

D.HKD

11. From a Chinese bank’s point of view , the current account it maintains abroad is known as ( A )

A. a nostro account

B. a vostro account

C. a current account

D.a home currency account

12. From a Chinese bank’s point of view , the current account maintained by a foreign bank with him is known as （B ）

A.a nostro account

B.a vostro account

C.a current account

D.a foreign currency account

13. International trade settlement methods are used to complete the money transfer aroused by ( A)

A. goods transactions

B. services supply

C. security investment

D. investment incomes

14. Documentary credit business is subject to ( A )

A. UCP600

B.URC522

C. URDG758

D. ISP98

15. Collection business is subject to ( B )

A. UCP600

B.URC522

C. URDG758

D. ISP98

16. Standby credit business is subject to ( D )

A. UCP600

B.URC522

C. URDG758

D. ISP98

17.Letter of guarantee business is subject to ( C )

A. UCP600

B.URC522

C. URDG758

D. ISP98

18. London is the clearing centre for ( B )

A. USD

B. GBP

C.EUR

D.HKD

19. New York is the clearing centre for ( A )

A. USD

B. GBP

C.EUR

D.HKD

20. Tokyo is the clearing centre for ( D )

A. USD

B. GBP

C.EUR

D.JPY

21. Frankfurt is the clearing centre for ( C )

A. USD

B. GBP

C.EUR

D.HKD

22.Among the following documents, the one which is not regarded as control documents is ( D )

A. authorized signatures

B. test keys

C. schedule of terms and conditions

D. correspondent arrangement

23. The seller should arrange for the insurance of the goods transportation under ( C )

A.FOB

B.CFR

C.CIF

D.EXW

24.（ A ）cheque can be cashed over the counter of paying bank.

A. An open

B. A crossed

C. A general crossing

D. A special crossing

25. The effect of a blank endorsement is to make a negotiable instrument payable to the （C ）

A. specified person B, order of a specified person C. bearer D. named person

26. If the bill is pay able “60 days after date”, the date of payment is decided according to （C ）

A. the date of acceptance

B. the date of presentation

C. the date of issuance

D. the date of maturity

27. The party to whom the bill is addressed is called the（B ）

A. drawer

B. drawee

C. holder

D. payee

28. When financing is without recourse, this means that the bank has no recourse to the （D ）if such drafts are dishonored.

A. payer

B. drawee

C. acceptor

D. drawer

29. The（C ）of a promissory note assumes the prime liability to make payment of the note.

A. holder

B. drawee

C. maker

D. acceptor

30. The bill which must be presented for acceptance is （B ）

A. the bill payable at xx days after date

B. the bill payable xx days after sight

C. the bill payable on a fixed date

D. the bill payable at sight

31. In order to retain the liabilities of the other parties, a bill that has been dishonored must be （ A ）

A. protested

B. given to the acceptor

C. retained in the files

D. presented to a bank

32.（C ）is not a holder of a bill

A. Payee

B. Endorsee

C. Drawer

D. Bearer

33. Which of the following is a relative essential item of a bill ?（B ）

A. amount

B. tenor

C. payee

D. drawee

34. An endorsement ,which prohibits the further negotiation of the instrument ,is called （D ）endorsement .

A. qualified

B. general

C. specific

D. restrictive

35. A check is a （D ）draft drawn on a bank

A. time

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C. direct

D. demand

36. The act which is never involved in promissory note business is （ C ）

A.endorsement

B.dishonor

C.acceptance

D.presentation

37. The act which is never involved in check business is （ C ）

A.endorsement

B.dishonor

C.acceptance

D.presentation

38. The acceptor of a bill is the person who originally named as ( B ) of the bill.

A. drawer

B. drawee

C.payee

D.endorser

39. The first holder of a bill is the ( C ) of the bill

A. drawer

B. drawee

C.payee

D.acceptor

40. Among the following crossed cheques, the one which contains the words ( D ) is a special crossed cheque.

A. banker

B. not negotiable

C. A/C payee

D. Bank of China

41. The means of authenticating payment order in mail transfer is the （ D ）

A. SWIFT authentic key

B. schedule of terms and conditions

C. test key

D. authorized signatures

42. The means of authenticating payment order in telegraphic transfer is the（ C ）

A. correspondent arrangement

B. schedule of terms and conditions

C. test key

D. authorized signatures

43. Which of the following is not a method of remittance? （ C ）

A. M/T

B. T/T

C. T/R

D. D/D

44. Open account as a payment method is usually used when （ D ）

A.goods are sold under the seller’s market condition

B.goods are badly needed by the buyer

C.goods are of special standards or special specifications

D.goods are sold under the buyer’s market condition

45. If the r eimbursement instruction written on the payment order is expressed as ‘in cover , we have credited your A/C with us’, the A/C relationship between the remitting bank and the paying bank must be( A )

A. the paying bank maintains an A/C with remitting bank

B. the remitting bank maintains an A/C with paying bank

C. both remitting bank and paying bank maintain their A/Cs with a third bank

D. remitting bank and paying bank have their A/Cs with two different banks

46. If the reimbursement instruction written o n the payment order is expressed as ‘in cover, please debit our A/C with you’, the A/C relationship between the remitting bank and the paying bank must be( B )

A. the paying bank maintains an A/C with remitting bank

B. the remitting bank maintains an A/C with paying bank

C. both remitting bank and paying bank maintain their A/Cs with a third bank

D. remitting bank and paying bank have their A/Cs with two different banks

47. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have authorized Bank A to debit our A/C and credit your A/C with them’, the A/C relationship between the remitting bank and the paying bank must

be( C )

A. the paying bank maintains an A/C with remitting bank

B. the remitting bank maintains an A/C with paying bank

C. both remitting bank and paying bank maintain their A/Cs with a third bank

D. remitting bank and paying bank have their A/Cs with two different banks

48. If the reimbursement instruction written on the payment order is expressed as ‘in cover, we have instructed Bank X to transfer the proceeds to your A/C with bank Y’, the A/C relationship between the remitting bank and the paying bank must be

( D )

A. the paying bank maintains an A/C with remitting bank

B. the remitting bank maintains an A/C with paying bank

C. both remitting bank and paying bank maintain their A/Cs with a third bank

D. remitting bank and paying bank have their A/Cs with two different banks

49. It will be more convenient if the collecting bank appointed by the seller （ B ）

A. is a large bank

B. is the remitting bank’s correspondent in the place of the importer

C. is in the exporter’s country

D. acts on the importer’s instructions

50. Under D/P, the documents will not be delivered to the buyer until （ D ）

A. the goods have arrived

B. the documents have arrived

C. the documents are presented to the buyer

D. the bill is paid by the buyer

51. Under D/A, the documents will not be delivered to the buyer until （D ）

A. the goods have arrived

B. the documents have arrived

C. the documents are presented to the buyer

D. the bill is accepted by the buyer

52. In collection business, banks are obligated to check the documents received to see that （C ）

A. they are authentic

B. they are regular

C. they are the same as those listed in the collection instruction

D. they are in the right form

53. A bill of exchange which is accompanied by shipping documents is known as

（ B ）

A. a clean bill

B. a documentary bill

C. a clean collection

D. a documentary collection

54. In documentary collection, after the goods have been shipped, the exporter presents the documents to （ C ）for collection

A. the collecting bank

B. the reimbursing bank

C. the remitting bank

D. the opening bank

55. Which of the following is not the obligation of remitting bank in collection ?

（ D ）

A. to complete a collection order strictly according to the principal’s instructions.

B. to perform following all the instructions given by the principal.

C. to keep the documents well

D. to examine the contents of documents in detail

56. Which of the following is not the obligation of the collecting bank?（B ）

A.to verify the authenticity of the collection order

B. to take care of goods

C.to release documents strictly on the delivery terms of documents.

D.to perform following all the instructions given by the remitting bank.

57.In collection business, the drawer of the draft for collection is ( A )

A. seller

B. buyer

C. remitting bank

D. collecting bank

58. In collection business, the drawee of the draft for collection is ( B )

A. seller

B. buyer

C. remitting bank

D. collecting bank

59. If the collection instruction given by the principal specifies that collection charges are to be borne by the drawee but with no express statement that they may not be waived, charges will be for the account of ( A ) providing the drawee refuses to pay them.

A. principal

B. remitting bank

C. collecting bank

D. presenting bank

60.The price term which is more favorable to the seller under collection is ( D )

A. EXW

B. FOB

C. CFR

D. CIF

61. In L/C business , the exporter can receive the payment only when ( C )

A. he has shipped the goods

B.he has presented the documents

C.the documents presented constitute a complying presentation

D.the importer has taken delivery of the goods.

62. In L/C business, the issuing bank can refuse to pay the credit amount when ( C )

A.the applicant prevents him from making payment

B.the goods are not the same as those stipulated in the sales contract

C.one kind of document required by L/C isn’t presented.

D.b alance of the applicant’s account is not enough for payment .

63. Of the following kinds of L/C, ( B )is the L/C which requires no drafts at all.

A.sight payment credit

B.deferred payment credit

C.acceptance credit

D.negotiation credit

64. Of the following kinds of L/C, ( C ) is the L/C in which drafts are always required.

A.sight payment credit

B.deferred payment credit

C.acceptance credit

D.negotiation credit

65. Of the following kinds of L/C, ( D ) is the L/C which is especially suitable for

use to settle the payment of trade conducted through a middleman.

A.non-transferable credit

B.reciprocal credit

C.revolving credit

D.back to back credit

66. Of the following kinds of L/C, ( A )is the L/C which is especially suitable for use to settle the payment of trade conducted through a middleman.

A. transferable credit

B. reciprocal credit

C. revolving credit

D.confirmed credit

67 Of the following kinds of L/C, ( C ) is the L/C which is especially suitable for use to settle the payment under a long term contract covering goods to be transported by regular partial shipments.

A.non-transferable credit

B.reciprocal credit

C.revolving credit

D.back to back credit

68.Of the following kinds of L/C, ( B ) is the L/C which is especially suitable for use to settle the payment under counter trade.

A.non-transferable credit

B.reciprocal credit

C.revolving credit

D.back to back credit

69. Confirmation of a credit may be given by ( B )

A. the beneficiary at the request of the importer

B. the advising bank at the request of the issuing bank

C. the advising bank after the receipt of correct documentation

D. the issuing bank after the receipt of correct documentation

70. The credit may only be confirmed if it is so authorized or allowed by ( A )

A. the issuing bank

B. the supplier

C. the advising bank

D. the beneficiary

71. The second beneficiary of a transferable letter of credit is the ( D )

A. middleman

B. transferring bank

C. the applicant of the transferred credit

D. real supplier of the goods

72. The first beneficiary of a transferable letter of credit is the ( A )

A. middleman

B. transferring bank

C. the applicant of the transferred credit

D. real supplier of the goods

73. The red clause credit is often used as a method of ( B )

A. providing the buyer with funds prior to shipment

B. providing the seller with funds prior to shipment

C. providing the buyer with funds after shipment

D. providing the seller with funds after shipment

74. An applicant must reimburse an issuing bank unless he finds that ( D )

A. goods are defective

B. goods are not as ordered in the sales contract

C. documents received do not allow him to clear the goods through customs

D. documents do not conform on the face to the terms and conditions of the credit

75. Application for any amendment to a letter of credit should be given to the issuing bank by ( A )

A. the applicant

B. the beneficiary

C. the advising bank

D. the nominated bank

76. The message type which is used to send a amendment notice of a documentary credit through SWIFT is numbered ( C )

A. 700

B. 705

C. 707

D. 710

77.Among all the financial methods mentioned bellow , which method provides funds without recourse ？( C )

A. packing loans

B. bill discounting

C. forfaiting

D. borrowing docs against T/R

78.Under letter of credit, the primary debtor is the( C )

A. applicant

B. importer

C. issuing bank

D. nominated bank

79. The applicant of letter of credit is ( B )

A. the exporter

B. the importer

C. the exporter’s bank

D. the importer’s bank

80. The beneficiary of letter of credit is ( A )

A. the exporter

B. the importer

C. the exporter’s bank

D. the importer’s bank

81.A letter of credit which is expired on Oct. 1, 2008 specifies that “documents must be presented within 15days after the on board date of bill of lading”. If the on board date of bill of lading is Sep. 10,2008, the latest date of presentation must be

( B )

A. Sep. 24 ,2008

B. Sep. 25 ,2008

C. Sep. 26 ,2008

D. Oct. 1, 2008

82. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least ( C ) of the CIF or CIP value of the goods.

A. 100%

B.105%

C. 110%

D.120%

83. Which of the following actions performed by the nominated bank is not regard as the action of honor( D )

A. to pay at sight under sight payment credit

B. to incur a deferred payment undertaking and pay at maturity under deferred

payment credit

C. to accept the draft and pay at maturity under acceptance credit

D. to negotiate under negotiation credit

84. Complying presentation under letter of credit means a presentation that is in accordance with the terms and conditions of credit, the applicable rules of UCP and provisions of ( B )

A. ISP98

B. ISBP681

C. ICC Publication No.522

D.ICC Publication No. 758

85. Among the following banks, the one who has no obligation to examine documents under letter of credit is ( C )

A. the issuing bank

B. the confirming bank

C. the reimbursing bank

D. the nominated bank

86.The following are the financing methods which can be used by the seller in L/C business except ( D )

A. negotiating the documentary draft to his bank

A.applying for packing loans from his bank

B.discounting the time draft already accepted by the drawee bank

D. Borrowing docs from issuing bank against T/R

87.The following are the financing methods which can be used by the buyer in L/C business except ( D )

A.applying for issuing L/C with no margin requirement.

B.borrowing docs from issuing bank against T/R

C.taking the goods from shipping company against indemnity guarantee signed by the issuing bank.

D.applying for packing loans from his bank

88. A bill of lading doesn't function as ( D )

A. a contract of transportation

B. a receipt of goods

C a certificate of title to the goods D. an accounting document

89. The drawee of a draft drawn under letter of credit may be ( C )

A. the beneficiary

B. the applicant

C. the issuing bank

D. the negotiating bank

90. If the bill of lading is made out to order , it must be endorsed by （ B ）so as to complete the transfer of the title to the goods .

A. the carrier

B. the shipper

C. the notify party

D. the nominated bank