Part Three Tasks CON Task 7-2 True-or-false Judgment Task 7-1 Multiple Choice Task 7-4 Checking an L/C Task 7-3 Case Study Task 7-6 Composing Clauses Task 7-5 Filling in a Draft Choose the proper answers for the following questions or statements. 1) The commonly used payment instruments in import and export business include: a. L/C; b. draft ; c. promissory note; d. check. 2) In import and export business, a draft may be drawn__. a. by the seller on the buyer b. by the buyer on the seller c. by the seller on the opening bank of the L/C d. by the remitting bank on the paying bank. Task 7-1 Multiple Choice TAS CON 3) As far as the drawer is concerned, draft may be classified into: a. Commercial draft and banker’s draft. b. Clean draft and documentary draft. c. Sight draft and time draft. d. Commercial acceptance draft and banker’s acceptance draft. Task 7-1 Multiple Choice CON TAS 4) A check differs from a draft in that: a. the drawee must be a bank and the drawer must be a depositor in that bank; b. checks are all sight bills; c. only one copy of a check is issued; d. a check has a validity date. 5) Which of the following is of adverse exchange? a. T/T b. collection c. L/C d. D/D 6) Which of the following uses commercial credit? a. T/T b. collection c. L/C d. D/D Task 7-1 Multiple Choice CON TAS 7) Which of the following uses commercial draft? a. T/T b. collection c. L/C d. D/D 8) Which of the following uses banker’s draft? a. M/T b. collection c. L/C d. D/D 9) Remittance includes which of the following types? a. L/G b. M/T c. T/T d. D/D 10) The necessary parties of an L/C are: a. the applicant; b. the opening bank; c. the beneficiary; d. the advising bank. Task 7-1 Multiple
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