Part 单项选择 Among the kinds of documentary credits subject to UCP600, from which can the beneficiary get two banks irrevocable undertaking to pay if complying documents are presented A Irrevocable credit B Transferable credit C Confirmed credit Which transport document of the following is not a goods title 物权? A Bill of lading B Multimodal transport documents 承运人具有货物的决定权及“物权” C Air waybill Under an irrevocable credit, who must undertake primary liability 责任 for payment? A The applicant B The issuing bank C The nominated bank With reference to ( ), the expression “transshipment 转 运 not allowed” is not a binding 捆 绑 term under credit transaction A Air transportation B Marine transportation C Insurance policy Silent 默认 confirmation 保兑 is an arrangement made between ( ) A Beneficiary and advising bank B Issuing bank and advising bank C Beneficiary and applicant A credit can be transferred ( ) A From the first beneficiary to the second beneficiary B From the second beneficiary to the third beneficiary C From the applicant to the beneficiary As for a freely negotiable credit, which bank acts as a transferring bank? A the advising bank B the specifically authorized bank C any negotiating bank Of documentary credit and documentary collection in international trade, ( ) is better for the seller as it means a bank’s irrevocable undertaking to pay A The former B The latter C Neither Which abbreviation 缩写词 of the following is for uniform 统一 customs and practice for documentary credits? A UCP B URC C URDG 10 ( ) means “free on board a vessel” at the loading port, for which the seller does not supply insurance documents A FOB B CFR C FCA 11 According to Incoterms 2000, which one of the below trade term is recommended 推荐 when the credit requires an air waybill marked freight prepaid to the airport of destination? A CFR B CPT C FCA 12 If an exporter is willing to release the shipping documents directly to the buyer, but wishes to retain 保 留 some guarantee of payment should the buyer fail to pay on the due date, which of the following documentary credit best suits the exporter’s needs A Transferable B Standby C Revolving 13 How many working days does an issuing bank have to as certain 确 定 whether the documents are in compliance under a credit subject to UCP600? A B C 14 Besides insurance company or its agent, the party who is also qualified to sign insurance document is ( ) A Underwriter 承保人 B Broker 经纪人 C Proxy 代表 15 Under CUP600 what is the minimum insurance amount acceptable when the credit requires the invoice amount be CIF USD1000? A USD1000 B USD1100 C USD1200 16 Collections should not contain 包 含 bills of exchange payable at a future date with instructions that commercial documents are to be delivered against payment If collections contain such a bill with such instructions, documents will be released to the drawee 付 款 人 upon ( ) and the presenting bank is not responsible for any consequences 结果 arising out of any delay of payment (A, 522 Art c) A The drawee’s payment B The drawee’s acceptance C A guarantee to pay 17 In the case of 为了 documents payable at sight the presenting bank must make presentation for payment ( ) A Within seven working days B Within working days C Without delay 18 In the case that the L/C accepts on deck bill of lading, a set of bill of lading with the notation 标 记 “shipped on deck” instead of “shipped on board” appearing thereon is acceptable A Right B Wrong C It’s arguable 19 ( ) in collection transactions, when documents presented lack bills of exchange, the remitting bank 托 收 行 , upon request of the drawer 收 款 人 , may instruct either the collecting bank 代 收 行 or the drawee 付 款 人 to create the bills of exchange instead with proper 合适的 requirements as to 依据 their form and wording 措辞 (C, Art.8 of 522 ) A Unless the remitting bank agrees B Unless the presenting bank agrees C No conditions needed 无条件 20 An L/C stipulated that the expiry date for negotiation was May 1, 2003 A In the light of UCP600, the L/C was proper issued But such a date will be deemed as the expiry date for presentation of documents B In the light of UCP600, the L/C was badly issued C This stipulation can be disregarded The period of presentation of documents would be 21 days after date of shipment 21 An L/C requires: invoice/bill of lading in photocopy What should the beneficiary present? A Invoice in photocopy or BL in photocopy B A document titled “invoice/bill of lading” in photocopy C The L/C is not clear, but it’s better to present an invoice and a BL each in photocopy 22 The transportation document called for was an air waybill issued to order of the applicant The air waybill presented was issued to the applicant instead of to his order A The air waybill was discrepant B The air waybill was OK because the L/C did not prohibit the alterative of the consignee C The air waybill was OK because this alternative 变更 was allowed by the ISBP 空运单据不是物权凭证，因此不应做成“凭指示”式或“凭某具名人指示”式抬头。 即使信用证要求空运单据做成“凭指示”式或“凭某具名人 指示”式抬头，如提交的单据 表明收货人为该具名人 ，则即 使该单据没有做成“凭指示”式或“凭某具名人指示”式抬头，也可接受。 如果信用证未规定到货被通知人，则空运单上的相关栏位可以空白，或以任何方式填写。 23 Which of the following clauses or notations 记号 appearing on the face of the transport document would preclude 阻 止、不被接收 it from being accepted? A Oil drums 桶 are leaking 漏 B Highly flammable 易燃的 material or potentially explosive 爆炸 material C Refrigerated 冷藏 seafood, may spoil 损坏 during voyage 航行 24 A beneficiary receives an irrevocable documentary credit for which USD22,500.00 may be drawn 支 取 during each month of the documentary credit’s one-year validity The documentary credit also indicates that reinstatement 复 原 is on a cumulative 累 积 、 渐 增 basis Full monthly drawings were made during the first, second, fourth, fifth and seventh months and there have been no other drawings In the last month of the documentary credit’s validity, the beneficiary expects to make a final shipment What is the maximum value available for this final drawing? A USD112,500.00 B USD135,000.00 C USD157,500.00 25 A documentary credit states that shipment must be made on or about"于 或 约 于 "/“在 或 大 概 在 ” 27 june Which of the following shipment dates would be acceptable? 20 June 27 June 02 July 03 July A and only B and only C and only 26 When an advising bank has accepted a time/usance 习 惯 支 付 期 限 draft under an advised documentary credit, they are responsible for effecting payment at maturity 成熟 when ( )? A they have received funds from the issuing bank B they have received funds from the reimbursing bank C the draft is presented by the beneficiary 27 In accordance with UCP all the following statements relating to commercial invoices under a non-transferable documentary credit are correct EXCEPT the commercial invoices must () A Be manually 手签 signed by the beneficiary B Be made out it the name of the applicant C Appear to have been issued by the named beneficiary and indicate the description of goods corresponding with the documentary credit 28 Which of the following Incoterms is correctly described? Incoterm Insurance required Transport document A CFR Yes Freight Collect B FOB No Freight Paid C FCA No Freight Collect 29 Which party has the most responsibility 责 任 to examine the terms and conditions of a documentary credit against the sales agreement? A Applicant 开证时就已经完成此工作 B Beneficiary C Issuing bank 30 In the case of 针 对 a non-cumulative 累 积 的 revolving documentary credit available for USD10,000.00 per month and valid for six months, which of the following statements is correct? The face value of the credit is USD10,000.00 The face value of the credit is USD 60,000.00 The amount(s) not utilized 利用 in one month may be carried over to the next The total undertaking of the issuing bank is USD60,000.00 A and only B and only C 2,3 and only PART TWO 多项选择 An L/C calls for a certificate of origin issued by the ICC, which of the following samples are acceptable? A ICC B C CERTIFICATE OF ORIGIN CERTIFICATE OF ORIGIN CERTIFICATE OF ORIGIN XXXXXXXX XXXXXXXX Xxxx Signed by Smith Signed by Smith Director of ICC Signed by Smith Which of the following documents must be dated? A Packing list B Drafts C Transport documents D Insurance documents certificate of origin 产地证必须签字，不一定有货描，但是必须得有日期； L/C: a packing list and a weight list Are the following packing lists acceptable under the above L/C? A B C PACKING LIST PACKING & WEIGHT LIST “Packing and weight details “Packing and weight details shown” shown” shown” “Packing and weight details What does “exporting country” means? A Country where the beneficiary is domiciled 住所，家 B Country where the L/C is advised C Country of receipt of the goods by the carrier D Country of origin of the goods or country from which shipment/dispatch 派遣 is made What documents must be signed under the UCP 600? A Certificate of origin B Invoice C Transport documents and insurance documents D Drafts and declaration 声明 Which of the following documents are original documents? A A photocopy with manually 手签 signature B An invoice produced on beneficiary’s letter-headed paper without signature and/or not indicating “original” C A signed document transmitted through a fax machine, though absent an original signature D A document with “original” on it Which of the following L/C is suitable to ask for a draft? A Available by negotiation B Available by deferred payment C Available by acceptance D Available by payment We issued the L/C as follows: L/C expired: Dec 27, 2005 at beneficiary’s country Latest shipment date: Dec 06, 2005 Period of presentation: documents to be presented within 21 days after date of shipment but within the validity of credit, state documents acceptable Which of the following is acceptable? A B/L on board date: Dec 01, 2005, all documents presented on Dec 25, 2005 B B/L on board date: Dec 01, 2005, all documents presented on Dec 31, 2005 C B/L on board date: Dec 10, 2005, all documents presented on Dec 25, 2005 D B/L on board date: Dec 01, 2005, all documents presented on Dec 15, 2005 Which of the following documents are not considered as transport documents under UCP600? A Delivery order and mate’s 大付收据 receipt B Forwarder’s certificate of receipt and forwarder’s cargo receipt C Air waybill and bill of lading D Warehouse notes/receipt 10 For the correction 修 改 and alternation 轮 流 contained in the following documents, which need be authenticated 证 明? a Correction and alternation in commercial invoice visaed by XXX consulate b Correction and alternation in packing list issued by the manufacturer c Correction and alternation drafts issued by beneficiary 汇票除外 d Correction and alternation in certificate of origin issued by beneficiary 11 If an actual date of dispatch 离 港 , though not required by the L/C subject to UCP600, to be shown on the air waybill, which date below is deemed 视为 to be the shipment date? A Flight date: June 12, 2006 shown in the box for “carrier’s use only” B Flight date: June 15, 2006 C Actual date of dispatch: june 17, 2006 made by a stamp D A or B 12 Select the statements that correctly express the meaning of the UCP A An L/C is independent of relative contract even if it is expressly 清楚的、特意的 referred to by the L/C B If the L/C opening application bears any ambiguity 模 棱 两 可 in its instruction, the issuing bank should bear the risk to issue or amend the L/C C If the applicant has accepted the discrepancies 不 符 点 , the issuing bank can still refuse the documents D Once a beneficiary accepts an L/C he must execute 执行 it 13 Under an L/C indicating the goods description as “frozen beef 牛 肉 ” and requiring invoice, B/L, packing list, certificate of origin, please determine 决定 the documents which are acceptable A Invoice indicating rhe goods description as “beef” B B/L indicating the goods description as “beef” 提单上的货物描述可以使用与信用证规定不矛盾的货物统称。 C B/L indicating the goods description as “goods shipped as per invoice presented” D Certificate of origin indicating the goods description as “goods shipped as per invoice presented” 产地证必须签字，不一定有货物描述，但是必须显示日期。 14 A credit available with ( ) is also available with ( ) A a nominated bank, the issuing bank 信用证可以指定议付行，议付行是由开证行指定； B the issuing bank, a nominated bank C advising bank, transferring bank D confirming bank, the issuing bank 信用证可以指定保兑行，保兑行是由开证行指定； 15 how would the issuing bank exercise control over the goods by air? A insist upon holding the consignor 发货人’s copy of the air waybill B insist 坚持 upon holding original air waybill for the consignee 收货人 C insist upon being named as consignee 收货人 of the goods on the air waybill D insist upon full set of air waybills to be presented 16 A documentary credit calls for presentation of an insurance certificate Which of the following insurance documents would be acceptable for CIF shipment where the invoice value is USD75,000 ? A insurance certificate for USD82,500 B insurance policy for USD85,000 C insurance declaration for USD75,000 D insurance certificate for USD75,000 17 the letter of credit requires “three copies of inspection certificate issued by CCIC” The documents presented as follows Which is acceptable? A in originals B in copies C in original and copies D in originals and copy 18 an issuing bank has issued a sight documentary credit to a beneficiary authorizing 授权 a nominated bank 被指定银 行 to pay the beneficiary for all documentary presented in accordance with the documentary credit terms and conditions Upon receipt of complying 遵 从 documents drawn 出 具 under the documentary credit directly from the beneficiary, the issuing bank should 开证行收到受益人直接提交的单据，则 : A examine the documents and pay the beneficiary B verify 核实 the documents and pay the nominated bank C return the documents to the beneficiary for presentation to the nominated bank D remit 免除 the documents to the nominated bank for examination 19 under which of the following situation, the on board notation 记 号 on B/L should also indicate the actual port of loading? A when B/L contains the indicating “intended 计划 vessel” or similar 相似 qualification 资格 in relation to the vessel B when B/L indicates the port of loading of the credit in the column 栏 “place of receipt” rather than in the column 栏 of “port of loading” C when B/L contains the indicating “intended 计 划 port of loading” or similar 相 似 qualification 资 格 in relating to the port of loading D when B/L indicates that “goods have been received in appearance good condition” 20 which of the following statements about transferable L/C is correct? A in case of 尽 管 freely negotiable L/C, the issuing bank should specifically nominate 指 定 in the credit a bank as the transferring bank B the transferable L/C could be transferred more than once C the transferable L/C could be transferred to more than one second beneficiary if partial shipment/drawing is not prohibited D refusal 拒绝 of an amendment by one second beneficiary will invalidate the acceptance(s) by the other second beneficiary (ies) Part Three 是非判断 W would charter party B/L be acceptable when the L/C calls for an ocean B/L R an L/C calls for CFR shipment The B/L is marked “freight paid”运 费 已 付 and “free out 运 费 付 清 ”, would this be acceptable? R an L/C calls for FOB shipment and B/L marked “freight collect”运费 到付 , the B/L is marked “freight collect” and “free in 免费”, would this be acceptable? W an L/C calls for an ocean B/L and delivery on FOB terms Would a B/L be acceptable if marked “freight payable as per charter party”运费可由每一个租船方支付? W an L/C calls for an AWB showing “actual flight date” When received, the AWB shows this information but in a box marked “for carrier’s information only” Would this be acceptable? W under “documents required” and L/C lists both “certificate of origin” and “GSP form A” only the latter document is presented by the beneficiary Would this be acceptable? R an L/C calls for a certificate regarding the vessel “to be issued by the carriers 承 运 人 ” The B/L has been issued by Borneo Shipping Pte Ltd as agents for the carrier, Nyk Line Borneo Shipping has also issued the certificate as agents for Nyk Line Would this be acceptable? W an L/C calls for presentation of a copy telex/fax to the applicants giving certain information The document presented is the beneficiary’s signed certificate that they have sent such a telex to the applicant (the certificate also lists the information sent which is accurate and complete) Would this be acceptable? R an L/C calls for “commercial invoice”, when presented, the invoice, which has been computer-generated, is not marked “original”, it does however bear an original manual 手签 signature Would this be acceptable? 10 R A beneficiary presents documents within the expiry date of the L/C but they contain discrepancies 不 符 点 The beneficiary collects the offending 错 误 documents for correction (leaving the rest with the bank) and in due 预 定 course 过程 presents correct documents, however, in the interim 暂时的、过渡期的 the L/C has expired Should the bank now reject the documents for “credit expired”? 11 W an L/C (which allows transshipment 转运 ) calls for shipment from a UK airport The AWB shows goods on a flight from Paris to London then transshipment to another flight from London to the ultimate 最 终 的 destination as specified in the L/C would this be acceptable? 12 R an L/C issued in favour of 证实 a beneficiary in Galle 加勒, Srilanka 斯里兰卡 calls for a certificate of origin issued by the “local chamber of commerce”, when presented it has been issued by the chamber of commerce in Colombo 科伦坡, srilanka 斯里兰卡 Would this be acceptable? 13 R an L/C calls for ocean shipment from “western Europe to south korea” In full utilization 利 用 of the L/C, the documents presented include sets of ocean B/L all showing the same vessel/voyage but different ports of loading (all within western europe) and different ports of discharge (all in south korea) Does this constitute evidence of partial shipment? 14 R an L/C subject to UCP600 specified that the L/C number must be quoted in all documents presented The commercial invoice did not quote the L/C no and issuing bank refused payment Is the issuing bank correct in its refusal? 15 W is the following invoice acceptable or not? Description of the goods in an L/C is: 1000 pieces of towels 毛巾 L/C amount: USD1000 Invoice presented shows: Towels: 1000 pieces Total value: USD 1000 Samples of cap: 20 free of charge Part Four 判断正误 F Having transferred the full shipment/expiry dates and presentation period and made the L/C available in the transferee’s country, the first beneficiary cannot now substitute 替 代 documents after the L/C has expired or late presentation occurred F part shipments/drawings are prohibited unless otherwise stated in the L/C 允许分批支款或分批装运 UCP600 F unless otherwise stated in the L/C, transport documents must show the L/C beneficiary as shipper/ consignor 发 货人 F an L/C calls for invoices in triplicate When presented, they are identical computer-generated documents none of which is marked original However, this is acceptable as the L/C only stated triplicate, not original and two copies F an insurance policy is acceptable in lieu 代替 of an insurance certificate and vice versa F according to article 13 of UCP600, if the credit stipulates that a claiming bank must supply a certificate of compliance with the terms and conditions of the credit when making reimbursement claim, the reimbursing bank can disregard 不理会 such a stipulation 规定 T a bill of lading with pre-printed wording to show that the goods have been loaded on board can simultaneously 同 时 bear a dated on-board notation 标记 In such a case the date of the on-board notation will be deemed 认为 to be the date of shipment whether it is earlier or later than the issuance date or the two are the same F if the bill of lading indicates a place of receipt or taking in charge different from the port of loading, the on board notation 标 记 must also include the port of loading stipulated in the credit and the name of the vessel on which the goods have been loaded, even if they have been loaded on the vessel named in the bill of lading This provision 规 定 does not apply when loading on board the vessel is indicated by pre-printed wording on the bill of lading F terms such as “first class”, “well-known”, “independent”, “local”, “official”, “qualified”有资格的 , “competent” 有能力 10 的 and the like are ambiguous 含 糊 不 清 words in light of the UCP If such terms are incorporated 不 包 括 in the credit, banks will accept the relative document (s) as presented, provided that it appears on its face to be in compliance with the other terms and conditions of the credit 诸如"第一流""first class"、"著名""well known"、"合格" "qualified"、"独立""independent"、"正式""official"、"有 资格" competent"、"当地""local"等用语用于描述单据出单人的身份时，允许除受益人以外的任何人出具该的单据。 10 F as for a charter party bill of lading, banks will not examine the charter party contract to which the bill of lading is subject But if the credit requires beneficiary(ies) to present the contract along with other documents banks have to determine 确定 whether it is in compliance with the terms and conditions of the credit 11 F under a freely negotiable and transferable credit any bank except the issuing bank is a nominated bank Now that the relative article of UCP600 sets a rule that only the nominated bank has the right to make the transfer, thereof any bank exclusive 专享 of the issuing bank can transfer such a credit unless otherwise stipulated 12 F without the agreement or authorization of the applicant, an issuing bank must issue a credit strictly 严 格 as what the application says and cannot make any alteration 变更 even if to supplement or develop the terms in a manner 态 度 necessary or desirable to permit the use of the credit 13 T if a signature and/or endorsement is required to be on a document consisting of more than one page, the signature is normally placed on the first or last page of the document, but unless the credit or the document itself indicates where a signature or endorsement is to appear, the signature or endorsement may appear anywhere on the document 14 F if an L/C requires “invoice” or “one invoice” it will be understood to be a requirement for an original invoice If an L/C requires “invoice in copy”, it will be understood to be a requirement for a copy of an invoice 15 F an L/C called for one copy of insurance certificate, the original to be sent to the applicant by the beneficiary outside the L/C the beneficiary presented one original in place of one copy The original indicated on its face in column: NUMBER OF ORIGINAL: ONE The presentation is valid 16 F description of goods: 100 tables, unit price: USD100 FOB shenzhen, total value: USD10000 partial shipment allowed description of goods in presented invoice: 100 tables, unit price: USD 100 FOB ShenZhen 10 tables first shipment total value: USD1000 the description of goods in presented invoice is not acceptable 17 T the signature of the below bill of lading is compliance L/C requirement: ocean bill of lading BILL OF LADING BL NO,XXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXXXXX ZHANG XIN XIN XYZ FREIGHT FORWARDER AS CARRIER 18 T UCP600 is quite clear in stating that for the purpose of the articles in UCP, branches of a bank in a different country is considered to be sepearate bank It follows that a branch of a bank in the same country is considered to be the same bank 19 F a credit requires the bill of lading to show on board notation which should be dated, stamped and countersigned 会 签 In this respect if the bill of lading is signed by the carrier, the notation should not be countersigned by the carrier 20 F a credit subject to UCP600 calls for “international consignment note-copy for shipper” An international consignment note is presented without the words or marking “copy for shipper”, neither does it show for whom the 11 document has been prepared The document without the words or making “copy for shipper” creates a discrepancy 12