8. The date of the insurance document must not be later than............ unless it indicates that the insurance is effective from a date no later than .............

b. Bill of lading date / Bill of lading date

a Bill of lading date / Bill of exchange date

c. Commercial invoice date / Bill of lading date

d. Commercial invoice date/ Bill of exchange date

14. Which statement about the trade term CIF is not correct?

b. The buyer has to sign an insurance contract for the delivered goods

a. CIF stands for cost, insurance and freight

c. The seller has to sign an insurance contract for the delivered goods in favor of the buyer

d. CIF is used for maritime transport

15. A “Clean Bill of Lading” means:

c. There is no clause or notation expressly declaring a defective condition of the goods.

a. There are no corrections and alterations on the B/L.

b. The word “clean” must appear on the B/L.

16. Company A sells goods to company B and draws a term bill of exchange against company B. The B/E has been accepted by company B and then endorsed to company C. Which of the following statements is CORRECT with the properties of the B/E?

a. Both of company A and company B are obligated to pay company C.

b. Company B refuses to pay company C because the endorsement of company A to company C has not been approved by company B.

c. Company B is only responsible for paying company C in full if the goods are den according to the agreement between company A and company B.

d. The only person responsible for paying company C is company B, even if company A does not deliver the goods as agreed with company B

17. International trade and domestic trade differ because of:

a. Different government policies

b. Fluctuated factor of exchange rate

c. Participant from different countries

19. If a bill of exchange is made to bearer, payment should be made to……

d. anyone who presents the draft

25. BW Bank in Germany opens the JPY account at JP Bank in Tokyo. JP Bank in Tokyo also opens the EUR account at BW Bank. So, which following statement is not correct?

d. BW Bank calls the EUR account as Nostro

a JP Bank calls the JPY account as Vostro

b. BW Bank calls the JPY account as Nostro

c. JP Bank calls the EUR account as Nostro

3. As per the trade terms CPT and CIP of Incoterms 2020, the risks on goods are transferred from the seller to the buyer:

b. when the goods are delivered to the nominated carrier in the country of the exporter

a. when the goods are loaded on the board of the ship

c. when the goods are transported to the nominated place in the country of the importer

d. when all customs formalities for the import of goods are completed in the country of the importer

5. Which of the following functions does an Air Waybill not have:

b. evidence of contract of carriage

6. An ocean bill of lading (B/L) is to be issued and duly signed by

d. all a., b. and c are correct

c. an authorised agent of the shipping company

7. Which of the following statements is relevant?

d. Parties are bound by the trade term that is agreed upon by them

a. All trade terms included in Incoterms impose the obligati insurance

b. Only the latest version of Incoterms is effective

c. The trade terms of Incoterms stipulate the responsibilitia

9. In the framework of correspondent banking activities, Bank A (based in France) opens a JPY account with Bank B (based in Japan). Conversely, Bank B (based in Japan) opens an EUR account with Bank A (based in France). In communication with Bank A, Bank B refers the JPY account of Bank A as .......(1)......... and the EUR account of Bank B as ...........(2)

d. Vostro account; (2) Nostro account

a. (1) Nostro account; (2) Nostro account

b. (1) Nostro account; (2) Vostro account

c. (1) Vostro account, (2) Vostro account

10. In a foreign sales transaction, in which a Vietnamese party is the seller and a Japanese party is the buyer and the goods are to be shipped from Saigon Port to the Port of Tokyo, the Vietnamese party had better select the following trade term:

a. USD 500,000.- CIF Port of Tokyo

b. USD 500,000.- CIF SaiGon Port

c. USD 450,000.- FOB Port of Tokyo

d. Any above mentioned trade term

11. A Vietnamese importer buys goods according to the trade term "CFR Saigon Port” (Incoterms 2020)". The foreign seller/exporter is:

b. not obliged to buy insurance for the goods for the main voyage of transportation

a. to bear risk up to Saigon Port, Vietnam as this is the place where the risk is transferred, from the seller to the buyer as per the trade term CFR

d. Both a. and b. are incorrect

12. Which of the following contents is not required to be stated on the ocean bill of lading

b. Name of vessel and voyage number

13. Which purpose is not relevant for a certificate of origin?

c. Making sure that the imported goods meet the health regulation

a. Identifying the import duty for the imported goods

b. Checking the implementation of allocated import quota

d. Determining the ownership of goods

16. Which documents are not to be issued by the seller/exporter,

c. Bill of lading, insurance policy, form Al certificate of origin

a. Packing list, commercial invoice and certificate of origin

b. Commercial invoice, certificate of quantity, certificate of quality

d. Certificate of quality, certificate of origin, packing list

Câu 17: Which international organization issues documents such as Incoterms, URC and UCP for regulating international payment activities?

A. International Chamber of Commerce

Câu 19: Of the following transport documents, which document is a title deed?

C. Multimodal transport document, ocean bill of lading

A. Ocean bill of lading, air waybill

B. Railway consignment note, road consignment note

Câu 21: In a bill of exchange, the place of payment is not specified. This means that:

D. The place specified beside the name of the drawee is deemed to be the place of payment and at the same time the place of the domicile of the drawee

A. The place specified beside the name of the drawer is deemed to be the place of payment

B. The place specified beside the name of the beneficiary is deemed to be the place of payment

Câu 24: Of the following statements, which statement is incorrect when saying about commercial invoices?

C. Commercial invoices are the documents to identify the voyage of the shipment

A. Commercial invoices are issued by sellers

B. Commercial invoices need not be signed except as required by the L/C

D. Commercial invoices should provide a description of the goods that must correspond with that appearing in the L/C

IP_2024

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66 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. Which statement is correct about commercial invoice?

a. It is the basis for determining the carriage route

b. It is issued by the carrier

C. It is one of the important financial documents in international trade transaction.

d. It is showed carriage route, goods description, unit price and total price of goods as well as
trading and payment term

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Which of the following contents is not required to be stated on an ocean bill of lading?

a. Freight details whether it is “prepaid freight” or “freight collect”

b. Vessel and voyage number

c. Number of original B/LS

d. The unit price of the goods

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. In Incoterms 2020, compared with FOB conditions, importing goods under CIF terms helps the
importer:

a. Do not bear the risk for the main transport

b. Do not have to pay for the goods when the goods are lost in transit

c. Do not contract for the main transport

d. Do not carry out procedures for exporting clearance.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Which of the following arrangements ranks the trade terms in the ascending order of the buyer's
responsibility:

a. EXW, CFR, FOB, DDP

b. DDP, CPT, FAS, EXW

c. EXW, FOB, CFR, DDP

d. DDP, FOB, CFR, EXW

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. Which following operations do not apply to promissory note?

a. Aval

b. Endorsement

c. Acceptance

d. Discounting

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6. “If B/E is accepted by .............. so-called ............... If B/E is accepted by ................ So called ...........
If B/E is issued by ............. so-called............" .Which following words are correct respectively?

a. Exporter/ Trade acceptance/ Importer's bank/ Banker's acceptance /Importer/ Commercial draft

b. Importer/ Trade acceptance/ Importer's bank/ Banker's acceptance/ Exporter/ Commercial draft

c. Importer/ Trade acceptance/ Exporter's bank/Banker's acceptance/ Exporter/ Bank draft

d. Importer/ Banker's acceptance/ Importer's bank/Trade acceptance/ Exporter/ Commercial draft

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. Certificated of origin is issued by which of the following entities is the basis for goods enjoy the
preferential tariff treatment?

a. Exporter

b. Manufacturer

c. Chamber of Commerce

d. Exporter and Chamber of Commerce together

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IP_2024

1. Which statement is correct about commercial invoice?

2. Which of the following contents is not required to be stated on an ocean bill of lading?

3. In Incoterms 2020, compared with FOB conditions, importing goods under CIF terms helps the
importer:

4. Which of the following arrangements ranks the trade terms in the ascending order of the buyer's
responsibility:

5. Which following operations do not apply to promissory note?

6. “If B/E is accepted by .............. so-called ............... If B/E is accepted by ................ So called ...........
If B/E is issued by ............. so-called............" .Which following words are correct respectively?

7. Certificated of origin is issued by which of the following entities is the basis for goods enjoy the
preferential tariff treatment?

8. The date of the insurance document must not be later than............ unless it indicates that the
insurance is effective from a date no later than .............

9. In which trade term is Saigon port of Vietnam being a loading port?

10. On a bill of lading issued by MASK shipping company, shipper is “CMK Co. (Japan)”;
consignee is "To order of VP Bank (Vietnam)" and notify party is "Hausteck Co.Ltd (Vietnam)".
The rightfull endorser is:

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

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IP_2024

1. Which statement is correct about commercial invoice?

2. Which of the following contents is not required to be stated on an ocean bill of lading?

3. In Incoterms 2020, compared with FOB conditions, importing goods under CIF terms helps theimporter:

4. Which of the following arrangements ranks the trade terms in the ascending order of the buyer'sresponsibility:

5. Which following operations do not apply to promissory note?

6. “If B/E is accepted by .............. so-called ............... If B/E is accepted by ................ So called ...........If B/E is issued by ............. so-called............" .Which following words are correct respectively?

7. Certificated of origin is issued by which of the following entities is the basis for goods enjoy thepreferential tariff treatment?

8. The date of the insurance document must not be later than............ unless it indicates that theinsurance is effective from a date no later than .............

9. In which trade term is Saigon port of Vietnam being a loading port?

10. On a bill of lading issued by MASK shipping company, shipper is “CMK Co. (Japan)”;consignee is "To order of VP Bank (Vietnam)" and notify party is "Hausteck Co.Ltd (Vietnam)".The rightfull endorser is:

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for English

3. In Incoterms 2020, compared with FOB conditions, importing goods under CIF terms helps the
importer:

4. Which of the following arrangements ranks the trade terms in the ascending order of the buyer's
responsibility:

6. “If B/E is accepted by .............. so-called ............... If B/E is accepted by ................ So called ...........
If B/E is issued by ............. so-called............" .Which following words are correct respectively?

7. Certificated of origin is issued by which of the following entities is the basis for goods enjoy the
preferential tariff treatment?

8. The date of the insurance document must not be later than............ unless it indicates that the
insurance is effective from a date no later than .............

10. On a bill of lading issued by MASK shipping company, shipper is “CMK Co. (Japan)”;
consignee is "To order of VP Bank (Vietnam)" and notify party is "Hausteck Co.Ltd (Vietnam)".
The rightfull endorser is: