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10. ( )Letter of credit, by their nature, are __ transactions from the sales confirmation or other contract on which they may be based, and bank are in __ way concerned with or bound by such contract.

A. separate.., any

B. separate.., no

C. associate

D.., all the

D. affiliate

D.., any

11. ( )If a Credit requires "an inspection certificate issued by a well-known inspector",

A. the certificate may be issued by anyone.

B. the certificate may be issued by the beneficiary.

C. the certificate must be signed, dated and issued in one original and one copy.

D. the certificate must not be issued by the beneficiary and must appear to comply with the other terms and conditions of the Credit.

12. ( )The Credit requires an ocean bill of lading showing port of loading as Shanghai and port of discharge as Long Beach. The bill of lading shows the place of receipt as Xi‘ an, the port of

loading as Shanghai, the port of discharge as Seattle and the final destination as Long Beach.Which of following statements is correct.‘?

A. The bill of lading is discrepant because the port of discharge is incorrect.

B. The bill of lading is acceptable.

C. The bill of lading is discrepant because it is multimodal transport bill of lading.

D. The bill of lading is discrepant because it shows a place of receipt not indicated on the Credit.

13. ( )Which party(ies) is/are mentioned in the UCPSO0 who will disregard non-discoumentary conditions?

A. third party

B. beneficiary

C. banks

D. any party

14. ( )Based on the UCP500 article covering marine/Ocean Bills of lading, which one of the below wording is the correct definition of transshipment?

A. Unloading and reloading from one mode of transport to another during the course of the shipment.

B. Unloading and reloading from one vessel to another vessel during the course of ocean carriage from the port of loading to the port of discharge.

C. Unloading and reloading from one means of conveyance to another means of conveyance in different modes of transport during the course of the carriage.

D. Unloading and reloading from several means of transportation to another during the course of the carriage.

15. ( )What is the percentage of. tolerance in the drawing amount when the IMC prohibits partial shipments?

A. 10% or less

B. None

C. 3% or less

D. 5% or less

16. ( )Based on the UCP500, what should be the minimum insurance coverage in the insurance document when the Letter of Credit is for USD550,000.00 and the commercial invoice contains the following information?Total merchandise value USD1,100, 000. 00 Less advance payment USD550,000.00 Net due under the Letter of Credit USD550,000.00

A. USD1,210,000.00

B. USD605,000.00

C. USD550,000.00

D. USD710,000.00

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