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IV. Multiple choice questions. (Of following questions, there are more than one correct answers to each question. Please select the correct answers to each question.)

1. ( )If the remitting bank has honored documents against an indemnity in respect of discrepancies, the parties should be concerned with this indemnity are:

A. the issuing bank

B. the confirming bank

C. the beneficiary

D. the remitting bank

2.( )The documents that am NOT documents of tide and NOT applicable to UCP transport Articles are:

A. delivery order

B. FCR

C. copy of ocean B/L

D. original ocean B/L

3.( )If L/C stipulates that "third party documents are acceptable", then according to International Standard Banking Practice, the acceptable documents presented under the IMC are:

A. transport documents showing shipper as a part), other than the beneficiary

B. drafts issued by a party other than the beneficiary

C. invoices issued by party other than the beneficiary

D. weight lists issued by a party other than the beneficiary

4.( )According to UCP500 and International Standard Banking Practice, unless otherwise stipulated in the letter of credit, the documents requiring a signature am:

A. certificate

B. draft

C. cargo receipt

D. bill of lading

5.( )An letter of credit calls for presentation of an insurance certificate. If the C1P value on the invoice is USD10,000.00, the acceptable insurance documents am:

A. Insurance Policy for USD12,000.00

B. Insurance Certificate for USD 11,000. 00

C. Insurance Certificate for USD10,000.00

D. lnsurance Declaration under Open Cover for USD10,000.00

6.( )An L/C states that shipment must be made on or about 27 June. Which of the following shipment dates would be acceptable?

A. 20 June

B. 27 June

C. 02 July

D. 03 July

7.( )According to UCP500, the correct statements are:

A. Draft is not required under sight payment IMC

B. Draft is required under acceptance L/C

C. Draft is not required under deferred payment L/C

D. Draft may be required under sight payment L/C

8.( )Importer ABC Co. and Exporter XYZ Co. have agreed in their sales contract to use L/C as the payment method for sales of goods shipped from Shanghai port to New York port by sea,

according to INCOTERMS 2030, the correct trade terms used are:

A. CIF Shanghai (if price terms is on CIF basis)

B. FOB Shanghai (if price terms is on FOB basis)

C. CIF New York (if price terms is on CIF basis)

D. FOB New York (if price terms is on FOB basis)

9.( )Which documents presented as described below do you consider complied with L/C terms and conditions?

A. L/C calls for ‘Packing List in triplicate‘, while L/C states in Additional Conditions ‘Goods to be packed in non wooden cartons‘; Packing lists presented indicating ‘goods have been packed in nonwooden cartons ‘

B. L/C does not call for a Shipment Advice, while L/C states in Additional Conditions Beneficiary must advise shipment details to the applicant immediately after shipment‘;documents presented do not include a Shipment Advice

C. L/C calls for ‘ Certificate of origin in duplicate issued by Chamber of Commerce, while L/C states in Additional Conditions ‘ Country of origin: purely USA origin‘ ; Certificate of Origin presented showing: ‘ Country of originMexico and USA‘

D. L/C calls for Full set of ocean B/Ls issued to order and notifying applicant marked freight prepaid‘, while L /C states in Additional Conditions ‘Shipment in FCL‘; B/L presented showing ‘FCL‘