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6. Letter of credit irrevocable assurance to the exporter/ seller

  • true
  • false

7. uniform rules for collection urc522 are issued by

  • ICC
  • LC
  • TCA

8. Option which can be exercised only on the due date

  • european options
  • american option

9. Issuing bank or confirming bank accept a bill of exchange to pay in future

  • acceptance
  • payment at sight
  • negotiation
  • deffered payement

10. Documentary credits are governed by

  • ucp 600
  • urc 522

11. Equity share is a derivative

  • false
  • true

12. Which document in LC gives description about how goods are packed?

  • packing list
  • commercial invoice
  • certificate of origin
  • transport documents

13. Long terminology refers to

  • buy
  • sell

14. The bill of lading is a document of title

  • true
  • false

15. Facility whereby a bank assures the exporter that payment will be made by the bank directly

  • documentary credit
  • documentary collections
  • open account
  • advance payment

16. A ____ is a derivative that confers the right but not the obligation to buy or sell as security NORMALLY an equity at a certain price

  • bond
  • warrant
  • coupon

17. Inspection certificate required in an LC signed by seller

  • false
  • true

18. uncoditional order of the seller to the buyer to pay a sum of money immediately or at a future date to the payee

  • inspection certificate
  • packing list
  • bill of exchange
  • cargo insurance policy

19. Forwards options and swaps are all derivatives

  • true
  • false

20. Bill of lading is transport document

  • true
  • false