Questions from 31 to 35 are based on the following passage:
　　The exporter, as drawer of a draft (bill of exchange), hands the draft to his bank, the remitting bank, who in turn forwards it to the buyer through a collecting bank in the buyer’s country. A draft (also called a bill) is a written order to a bank or a customer to pay someone on demand or at a fixed time in the future a certain sum of money. If shipping documents accompany the draft, the collection is called “documentary collection.”
　　Documentary collection falls into two major categories: one is documents against payment(D/P); the other, documents against acceptance (D/A).
　　Documents against payment, as the term suggests, is that the collecting bank will only give the shipping documents representing the title to the goods on the condition that the buyer makes payment.
　　Where the paying arrangement is D/A, the collecting bank will only give the buyer the shipping documents after buyer’s acceptance of the bill drawn on him, i.e. the buyer signs his name on the bill promising to pay the sum when it matures. In return he gets what he needs – the shipping documents.
　　Under D/A, the seller gives up the title to the goods – shipping documents before he gets payment of the goods. Therefore, an exporter must think twice before he accepts such paying arrangement.
　　31．Under D/P , the importer can obtain the goods only by（ D ）.
　　A．showing the bill of lading　　
　　B．signing on the bill of exchange
　　C．paying in cash
　　D．paying or accepting the bill of exchange
　　32．Under D/A , the importer can gets what he needs – the shipping documents only by（ C ）.
　　A．showing the bill of lading　　
　　B．paying in cash
　　C．making acceptance of the bill of exchange
　　D．paying the bill of exchange
　　33． A draft can be described as followings except（ B ）.
　　A．a bill of exchange
　　B．a kind of shipping documents
　　C．a bill
　　D．a written paying order
　　34．In a transaction, if payment is made by collection, then the remitting bank is always located in（ A ）
　　A．Seller’s country
　　B．Buyer’s country
　　C．Either A or B
　　D．None of the above
　　35．The meaning of D/A is（ A ）.
　　A．documents against acceptance
　　B．documents against payment
　　C．delivery after payment 　　
　　D．cash against payment
　　Questions from 36 to 40 are based on the following passage:
　　Against this background, the WTO faces several daunting challenges. The first is to continue bringing down tariffs on traded goods. Average penalties have fallen steadily since the GATT’s formation but even the most open economies retain lofty barriers: for instance, America still charges a tariff of 14.6% on import of clothing, five times higher than its average levy.
　　Resistance to tariff cuts is strongest in agriculture. According to Tim Josling, a trade expert at Stanford University, tariffs and other barriers on farm goods average a crippling 40% worldwide and create distortions that “destroy huge amounts of value”. A new set of global farm talk is planned to start in 1999. At the least, you might think, these could lock in impressive reforms in Latin America and encourage further watering-down of the European Union’s Common Agricultural Policy. But they will prove difficult: squabbles over agriculture almost sank the Uruguay round.
　　36．What does the WTO face?（ D ）
　　A．fair trade rules.
　　B．free trade
　　C．export tax reduction.
　　D．several challenges.
　　37．Where does impressive reforms lock in according to the passage?（ C ）.
　　A．America
　　B．Asia
　　C．Latin America
　　D．Africa
　　38．According to the passage, which statement is NOT true?.（ B ）.
　　A．The WTO faces several daunting challenges, one of which is to continue bringing down tariffs on traded goods. 　　
　　B．America still charges a tariff of 14.6% on import of clothing, four times higher than its average levy.
　　C．The strongest resistance to tariff cuts is in agriculture field.
　　D．A trade expert said that tariffs and other barriers on farm goods averaged a crippling 40% worldwide.
　　39．When is a new set of global farm talks planned to start?（ D ）.
　　A．1980　　
　　B．1990
　　C．2001
　　D．at the end of 20th century
　　40．The best title for the passage is（ D ）.
　　A．NEW TRADE RULES 　　
　　B．UNFAIR TRADE RULES
　　C．TRADE BARRIERS FOR DEVELOPING COUNTRIES
　　D．TARIFFS CHALLENGES TO WTO

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