(11) The purpose of an acceptance credit is to give the _________ time to make payment.
　　A. advising bank
　　B. negotiation bank
　　C. importer
　　D. paying bank
　　(12) Transferable credit enables a _________ who is receiving payment from a buyer under a documentary credit to transfer his claims under that credit to his own supplier.
　　A. supplier
　　B. negotiating bank
　　C. middleman
　　D. importer
　　(13) Credit operations all parties concerned deal with _________.
　　A. goods
　　B. goods and documents
　　C. documents
　　D. L/C
　　(14) All instructions for the issuance of a Credit must state precisely the _________ against which payment, acceptance or negotiation is to be made.
　　A. condition
　　B. invoice (s)
　　C. document(s)
　　D.drafts
　　(15) Banks deal in ________ under documentary credit transaction.
　　A. goods
　　B. documents
　　C. services
　　D. money
　　(16) If the correspondent bank is merely to advise the credit, it forwards the prescribed text to the beneficiary without any responsibility on _________ part.
　　A. issuing bank
　　B. advising bank
　　C. negotiating bank
　　D paying bank
　　(17) The beneficiary is deemed to have ________ the credit ________, if he presents the required documents to the correspondent bank or issuing bank on time.
　　A. refused, /
　　B. accepted, /
　　C. agreed … with reserve
　　D. refused… with reserve
　　(18) The issuing bank’s decision as to whether or not to accept the documents will be based strictly on the principle that the ________ themselves must be in compliance with the terms and conditions of the credit.
　　A. sales’ contract
　　B. documents
　　C. goods
　　D. services
　　(19) The negotiating bank may honor the presented documents under reserve. If the issuing bank then refused to make payment against the documents because of the discrepancies, the ________ must refund the amount to the negotiating bank.
　　A. buyer
　　B. beneficiary
　　C. applicant
　　D. drawee
　　(20) The presenting bank is that collecting bank which presents the documents to the _______.
　　A. drawer
　　B. bank
　　C. drawee
　　D. exporter

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