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21. ( )According to International Standard Banking Practice, which of the following statements regarding the expression of "shipping documents" is correct?

A. all documents required by the Credit

B. transport documents only

C. invoice, transport documents, and insurance policy or certificate

D. all documents (not only transport documents), except drafts, required by the Credit

22. ( )According to UCPS00, banks shall disregard following expressions in the letter of credit except:

A. prompt

B. immediately

C. 'about

D. as soon as possible

23. ( )If L/C does not stipulate whether partial shipments are allowed or not, which of the following statements is applicable?

A. Partial shipments are allowed

B. Partial shipments are not allowed

C. Refer to the issuing bank

D. Refer to the beneficiary

24.( )If an applicant intends that the L/C expire for presentation at the issuing bank with drafts drawn on the issuing bank at 60 days after sight, how should the L/C be made available?

A. by acceptance

B. by deferred payment

C. by sight payment

D. by negotiation

25. ( )If the beneficiary intends to transfer partial or full mount of the letter of credit to the final supplier, what kind of terms should the letter of credit stipulate to meet the

beneficiary' s needs?

A. transmissible IMC

B. assignable L/C

C. divisible L/C

D. transferable L/C

26. ( )According to UCP500, all the following statements relating to commercial invoices under a non - transferable L/C are correct except that they must:

A. be manually signed by the beneficiary

B. be made out in the name of the applicant

C. appear to have been issued by the named beneficiary

D. indicate the description of goods corresponding with the L/C

27. ( )An L/C requires an inspection certificate to be issued by a competent authority. According to UCP500, banks may accept an inspection certificate issued by following parties except:

A. applicant

B. beneficiary

C. SGS .

D. third party manufacturer

28. ( )IMC calls for merchandise as "(1) 100 tours of wheat; (2) 1130 pairs of shoes", partial shipments are prohibite D. Which of following invoice is unacceptable according to UCP500 and L/C terms?

A. Invoice showing: (I) 95 tons of wheat (2) 96 pairs of shoes

B. Invoice showing: (1) 105 tons of wheat (2) 1(30 pairs of shoes

C. Invoice showing: (1) 106 tons of wheat (2) 100 pairs of shoes

D. Invoice showing: (i) 100 tons of wheat (2) 95 pairs of shoes

29.( )Prior to advising a Documentary Credit to the beneficiary, the Advising Bank is responsible for:

A. effecting payment against conforming documents

B. checking the apparent authenticity of the Documentary Credit

C. notifying the Issuing Bank that the Documentary Credit is being advised

D. checking that the reimbursement method is effective

30. ( )If an exporter is willing to release the shipping documents directly to the buyer, but wishes to retain some guarantee of payment should the buyer fail to pay on the due date, which of the following WCs BEST suit the exporter's needs?

A. Transferable

B. Revolving

C. Standby

D. Evergreen