单选题
1. Documentary credit means payment against____ instead of against______. (D)
A. goods……documents 
B. acceptance……confirmation
C. documents……acceptance 
D. documents……goods
2. Detailed provisions dealing with the operation of documentary credit can be found in_____. (B)
A. ICC 
B.UCP 
C. INCOTERMS 
D. CMR convention
3. In a revocable credit, it is the____ who has the right to revoke the credit. (A)
A. buyer 
B. seller 
C. advising bank 
D. issuing bank
4. The____ bank should ensure that the seller’s documents are drawn up in accordance with the credit terms before such documents are paid for and forwards to the____ bank for final reimbursement. (C)
A. issuing……negotiating 
B. advising……paying
C. negotiating……issuing 
D. paying……advising
5. The banks on the buyer’s side on L/C arrangement are____. (AD)
A. issuing bank 
B. advising bank
C. negotiating bank 
D. paying bank
6. _____ published by the ICC contains detailed provisions dealing with the operation of documentary credit. (B)
A. Hague Rules 
B. UCP600 
C. Incoterms2000 
D. CMR convention
7. In the practice of L/C transaction, the buyer is not required to pay for the goods until the arrival of the relevant____. (C)
A. B/L 
B. invoice 
C. documents stipulated by L/C 
D. L/C
8. According to documentary credit, the____, on receipt of letter of credit, will have to prepare shipment of the contract goods within the delivery date. (D)
A. agent 
B. customer
C. buyer 
D. seller
9. Which of the following statements are true about documentary credit_____? (ABCD)
A. documentary credit means payment against document instead of against goods
B. all the documentary credits are operated through banks
C. the buyers is not required to pay for the goods until the arrival of the relevant shipping documents
D. the documents transfer title to the goods

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