Description : Which of the following is not necessarily a party to a forfaiting transaction? a. Exporter b. Broker c. Bank
Last Answer : b. Broker is not necessarily a party to a forfaiting transaction. Forfaiting is a financing technique used in international trade to mitigate the risk of non-payment by the importer. It involves ... be involved in facilitating the transaction, but it is not a necessary party to the transaction.
Description : A commercial invoice is issued by _____. A. exporter B. exporter's bank C. importer D. importer's bank E. confirming bank
Last Answer : A. exporter
Description : Which of the following is not true of a letter of credit? A. it is a document B. issued by a bank C. at the request of the exporter D. the bank agrees to honor a draft drawn on the importer E. payable in the designated currency
Last Answer : C. at the request of the exporter
Description : Which of the following is not a basic objective of documentation in foreign trade? A. to assure that the exporter will receive the payment B. to assure that the importer will receive the goods C. to eliminate risk of noncompletion D. to reduce foreign exchange risk E. none of the above
Last Answer : E. none of the above
Description : If an exporter is doubtful about an issuing bank's ability to pay, he will expect a domestic bank to join the transaction in a _____ letter of credit. A. revolving B. irrevocable C. revocable D. unconfirmed E. confirmed
Last Answer : E. confirmed
Description : If a carrier is instructed to deliver goods to an importer, a _____ bill of lading is used. A.straight B. order C. documentary D. on-board E. clean
Last Answer : A.straight
Description : Which of the following documents should necessarily accompany a draft? A. certificate of origin B. weight list C. packing list D. inspection certificate E. none of the above
Description : ______ risk is the potential exchange loss from outstanding obligations as a result of exchange-rate fluctuations. A. Trade B. Exchange C. Finance D. Noncompletion E. Transaction
Last Answer : E. Transaction
Description : If a draft is accepted by a bank, it becomes a _____. A. valid draft B. demand draft C. usance draft D. banker's acceptance E. drawee's acceptance
Last Answer : D. banker's acceptance
Description : If a draft is made to bearer, payment should be made to _____. A. a bank B. drawer C. acceptor D. anyone who presents the draft E. all of the above
Last Answer : D. anyone who presents the draft
Description : Letter of Credit is presented by– (A) Exporter (B) Importer (C) Custom Officer (D) Shipping Company
Last Answer : Answer: Importer
Description : Which statement about the US economy is wrong? (A) The US has a capitalist mixed economy. (B) The US national debt is the world's largest. (C) The US economy is shaped by the country's ... infrastructure, and high productivity. (D) The USA is the largest exporter and importer of goods in the world.
Last Answer : (D) The USA is the largest exporter and importer of goods in the world.
Description : When exporting some common pitfalls include: A. failure to use an export management company B. failure to print service, sales, and warranty messages in local languages C. chasing orders around the ... orderly growth D. failure to consider licensing or joint venture agreements E. all of the above
Last Answer : E. all of the above
Description : The “three C’s” of international commerce are: A. customers B. commitment C. currency D. cultural sensitivity E. A, B, and D
Last Answer : C. currency
Description : Buying a company's accounts receivable on a nonrecourse basis is known as _____. A. switch trading B. financing C. factoring D. funding E. free trade
Last Answer : C. factoring
Description : In a _____ countertrade the initial seller receives compensation in products that arise out of the original sale. A. consignment B. barter C. counterpurchase D. buy-back agreement E. switch trading
Last Answer : D. buy-back agreement
Description : Which of the following is not a form of countertrade? A. barter B. consignment C. switch trading D. counterpurchase E. compensation agreement
Last Answer : B. consignment
Description : Which of the following is not a form of offset agreements? A. coproduction B. licensed production C. subcontractor production D. cash in advance E. technology transfer
Last Answer : D. cash in advance
Description : Which of the following is not true of a consular invoice? A. provides customs officials with all information B. facilitates easy customs clearance C. helps customs officials assess duties D. issued by the consulate of the exporting country E. it is not a title to the goods
Last Answer : D. issued by the consulate of the exporting country
Description : A document that contains a precise description of the goods is known as a _____. A. weight list B. packing list C. commercial invoice D. certificate of origin E. consular invoice
Last Answer : C. commercial invoice
Description : Which of the following may be required as additional documents in a letter of credit? A. commercial invoice B. insurance document C. consular invoice D. certificate of origin E. all of the above
Description : If a letter of credit can be neither cancelled nor modified without the consent of all parties, it is known as _____. A. revolving B. irrevocable C. revocable D. unconfirmed E. unclean
Last Answer : B. irrevocable
Description : A(n) _____ bill of lading does not guarantee that the goods have been loaded on the vessel. A. on-board B. foul C. received-for-shipment D. straight E. order
Last Answer : C. received-for-shipment
Description : When IBM ships products to its subsidiary in Argentina, it will most likely use a ____ draft. A. sight B. clean C. D/P D. demand E. all of the above
Last Answer : B. clean
Description : Documentary drafts require various shipping documents such as ____. A. bills of lading B. insurance certificates C. commercial invoices D. A and B E. A, B, and C
Last Answer : E. A, B, and C
Description : Forms of countertrade include the following except ___. A. simple barter B. clearing arrangement C. switch trade D.counterpurchase E. mutual agreement
Last Answer : E. mutual agreement
Description : Which of the following is not a condition for drafts to be negotiable? A. must be in writing, signed by the drawer B. must contain a promise to pay a certain sum if goods are received C. must contain an ... D. must be payable on sight or at a specified date E. must be made out to order or bearer
Last Answer : B. must contain a promise to pay a certain sum if goods are received
Description : Foreign exchange risk can be reduced by using _____. A. forward contracts B. futures contracts C. currency options D. currency denomination E. all of the above
Description : Which of the following is not an important document in foreign trade? A. a check for the value of goods B. a draft C. bill of lading D. a letter of credit E. none of the above
Last Answer : A. a check for the value of goods
Description : Karan bought 1000 share of ABC Limited at Rs.910 through his broker excluding brokerage and taxes. However, the current market price of that share is Rs.915. Here, the amount of Rs.915 reflects ____________. a) value of share b) cost of investment c) investment value d) price of transaction
Last Answer : a) value of share
Description : Which of the following would not reduce the transaction cost in a market? (a) a real estate agent, when buying a house (b) a stock broker, when purchasing stock (c) a full page newspaper ad to sell your used lawn mower (d) a farmer’s market for fresh produce
Last Answer : (c) a full page newspaper ad to sell your used lawn mower
Description : The central theme of forfaiting is the purchasing of ________by a financial service company. d. Trade bill e. Export bill f. Import bill
Last Answer : e. Export bill
Description : ________ is a temporary pass through account held by a third party during the process of a transaction between two parties. A. Savings Bank Account B. Current Account C. Deposit Account D. Escrow Account E. None of the Above
Last Answer : D. Escrow Account Explanation: Escrow Account: Account in which funds are accumulated for specific disbursements. It is a temporary pass through account held by a third party during the process of a transaction between two parties.
Description : Loans granted by a bank to an exporter popularly known as „Export credit‟ is guaranteed, in case of default,by which of the following A. EXIM Bank B. Ministry of International Trade, GOA C. ECGC D. DICGC E. Other than those given as options
Last Answer : C. ECGC Explanation: ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.
Description : Under forfaiting the client is able to get credit facility to the extent of_______ a. 100% of the value of the export bill b. 80% of the value of the export bill c. 90% of the value of the export bill
Last Answer : a. 100% of the value of the export bill
Description : Which of the following companies has set up two wholly owned subsidiaries in July 2016, one for its broker business and another for insurance business? A) EXIM Bank B) Religare Enterprises C) Muthoot Finance D) Sahara Asset Management Company E) None of these
Last Answer : B) Religare Enterprises Explanation: Religare Enterprises has set up two wholly owned subsidiaries – Religare Broking Limited and Religare Insurance Ltd – as part of its restructuring plan.
Description : Which one of the following countries has been the largest importer of floriculture products; especially rose and lotus flowers in terms of value from India over last five years among all the countries given in the list ? (A) Japan (B) Italy (C) Netherlands (D) UAE (E) USA
Last Answer : (E) USA
Description : Should I go with my bank or a broker for a home loan?
Last Answer : Careful with FHA, you'll pay mortgage insurance over the life of the loan so it's not usually the best deal. 4.12% is not the best interest rate. Lender paid PMI is a gimmick to get you to pay a ... PMI removed. Those numbers sound like a 30 year loan. If you can afford a 15 it's a better deal.
Description : Trust Letter to Bank or Broker?
Last Answer : Get StartedAt any time after creating and signing a Living Trust document, assets must be transferred into the Trust. A Living Trust only applies to the assets that are actually transferred ... transfer of your bank account, brokerage account or individual securities to your revocable Living Trust.
Description : Which is the largest importer country of Indian textile? -Do You Know?
Last Answer : answer:
Description : Which country is the top importer of rice in the world ?
Last Answer : Philippines is the top rice importer in the world.
Description : Hello, I would like to buy a used car for a reasonable price, but above all with a clear origin, preferably from imports from Rajch. Does anyone have a recommendation for a good company?
Last Answer : Hi, if you want a newer year, or "older new" from the showroom, I recommend the authors. So don't import exclusively Germany, but if you get a job and you care, I think you'll find it.
Description : Who is it?
Last Answer : Probably EFES
Description : What Country is the leading importer of artificial Christmas trees?
Last Answer : Need answer
Description : In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers? A. Retail Banking B. Universal Banking C. Virtual Banking D. Unit Banking E. other than those given as options
Last Answer : A. Retail Banking Explanation: Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other ... include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.
Description : What is the fullform of eSBTR? A. Electronic Secured Basic Transaction Receipt B. Electronic Stamp Bank Treasury Receipt C. Electronic Stamp Bank Transaction Receipt D. Electronic Secured Bank Treasury Receipt E. Electronic Secured Basic Treasury Receipt
Last Answer : D. Electronic Secured Bank Treasury Receipt Explanation: e-SBTR, is an Electronic – Secured Bank and Treasury Receipt, issued by the Officer of the participating bank, on secured Government stationery, on payment of Stamp- duty in Virtual Treasury.
Description : After discovering that a related-party transaction exists, the auditor should be aware that the a. Transaction is assumed to be outside the ordinary course of business. b. Substance of the ... to its legal form. d. Financial statements should recognize the legal form of the transaction rather
Last Answer : Substance of the transaction could be significantly different from its form.
Description : Which of the following would not be classified as a related-party transaction? a. Sales of merchandise between affiliated companies. b. An advance of one week's salary to an employee. c. Loans ... the principal owner or client. d. Exchanges of equipment between two companies owned by the same person
Last Answer : An advance of one week's salary to an employee
Description : Which of the following would not fit the description of a related-party transaction? a. An unusually large sale of merchandise to the company's best and largest customer. b. Sales of merchandise ... person. d. Loans to corporate officers at market rates of interest with a regular repayment schedule.
Last Answer : An unusually large sale of merchandise to the company's best and largest customer.
Description : Which country in the largest exporter of jute in the world? -Geography
Last Answer : Jute textile industry is an agro-based Industry. Bangladesh is the largest exporter of Jute in the world. India is placed second in export and first in the production of raw jute and jute goods. ... the textile industry, and this is the reason that most of the industries are located in West Bengal.