1、True or False:TSome trade documents are necessary forcustoms clearance. 出口結(jié)關(guān)，清關(guān)TThe accordance between documents and L/C and between documents and documents is necessary in L/C settlement.TThe parties should provide the documents for payment according to the clauses of L/C.TIn L/C settlement, banker

2、s negotiation is merely based on L/C and documents, not contracts and goods.TThe bank has the right of refusing to pay if the documents are presented later than the validity of L/C.FThe drawee of the draft must be a bank in L/C settlement.TThe issuer of commercial invoice must be the beneficiary of

3、the relevant credit.TAmendments must be signed on all originals of bill of lading.TThe beneficiary may get no payment if some unconformity between the documents and L/C was found.FThe documents shall be sent to the buyer by exporter directly under L/C settlement. (Answers: 1T2T3T4T5T6F7T8T9T10F)T In

4、ternational trade can greatly expand the market, which enables the suppliers to advantage of economies of scale.T Countries trade with each other partly because there is a cost advantage.T Trade means countries can provide a wider variety of products for their consumers.F International trade is only

5、 the exchange of goods between nations.T Exchange rate fluctuations may create many problems for international trade.T Still in some cases, political reasons can outweigh economic considerations between countries.T When we provide shipping insurance service for foreigners, it can be seen as an examp

6、le of invisible trade.F Trade surplus means that a countrys imports exceed its exports.T Tariff and quotas are the examples of trade barriers.F Countries can do business freely without regulations in international trade. (Answers: 1T2T3T4F5T6T7T8F9T10F)F Different commodities have different qualitie

7、s, but the same commodity must have the same quality.T A term for defining one particular degree of quality in one country may have quite a different meaning in another country.T Whether sale by buyers sample or by sellers sample, the quality of the commoditiesshould be strictly same as sample. Othe

8、rwise, it should be stipulated in the contract clearly.F The grade of the same product is always the same in different countries.T Different ways of measurement such as by weight, by length, by area, by volume and bycapacity may be used for different products.F In reality, the quantity of goods ship

9、ped must be exactly the same with that stipulated in the contract.F Packing can only serve as a form of protection.T Packing should be designed according to the need of the cargo.F Generally speaking, more packing is required for containerized consignments.T Bulk cargoes require little packing.(Answ

10、ers: 1F2T3T4F5T6F7F8T9F10T)F All international business transactions are done under Incoterms 2000.T Trade terms can be called price terms because they stand for the price component.T EXW in Incoterms 2000 is the trade term under which the obligations and costs borne by and risks of the seller are m

11、inimum.T The DDP should not be used if the seller is unable to obtain import license directly or indirectly.T Generally speaking, under FOB in Incoterms 2000, it is the sellers responsibility to applyfor the export license and pay the export duty.F Under FOB San Francisco, San Francisco is the port

12、of destination.F Under CIF, cargo insurance is to be effected by the buyer.T The buyer has more responsibilities, costs and risks when using FOB than using CIF.T The “D”-terms mean arrival contracts, while the “C” -terms evidence departure (shipment) contracts.F Under FCA in Incoterms 2000, the risk

13、 of loss of or damage to the goods is transferred from the seller to the buyer at the time the buyer accepts the goods.(Answers: 1F2T3T4 T5T6F7F8T9T10 F)T A unit price consists of four parts: currency unit, unit price figure, measuring unit and price terms.F Both money of account and money of paymen

14、t must be stipulated in the contract clearly.T The fluctuations of exchange rates may influence the interests of both exporter importer.T Generally, the price of a foreign exchange is expressed in another currency.T Generally speaking, the exporter likes to use hard currency as payment currency.T Co

15、mmission refers to service fees, while discount is a certain percent of price reduction.F Commission and discount must be stipulated in the price clause in a contract.T According to whether the price includes commission or not, the price can be divided into net price and commission-included price.T

16、Discount is usually used as a means of promoting and expanding sales.F“USD200 per M/T CIFC2 London” means that the seller will receive 200 US dollars forper metric ton.(Answers: 1T2F3T4T5T6T7F8T9T10F)Sea transport is the most important mode of transport in international trade now.The freight of line

17、rs is relatively fixed, while the freight of tramps is mainly determined by the market.Multimodal transport means the goods are carried by at least two modes of transport under at least two multimodal transport operators.Time of shipment in a contract can only be a fixed period of time.If optional p

18、orts of destination are stipulated in the contract, the extra freight due to selecting port of destination may be paid by the importer.The notice of shipment under CFR is very important, because the buyer will take out insurance upon receipt of the notice.Partial shipment means that the goods under

19、one contract are shipped in different terms or by different lots.In case it was stipulated in the contract that “shipment is made during July and August”, onelot of the goods must be shipped in July while another in August.If there is no direct sail to the destination, that “transshipment shall be a

20、llowed” shall bestipulated in the contract.Transshipment may increase the cost of shipment and the possibility of delay in delivery of commodities.(Answers: 1T2T3F4F5T6T7T8F9T10T)Cargo transport insurance is to protect the interests of traders from any possible financial losses.The premium charged f

21、or the insurance policy is calculated according to the risks involved.Two types of risks are covered by ocean marine insurance under CIC: perils of the sea and extraneous risks.WPA is a wider cover than FPA.In international trade, if All Risks was covered, any loss caused by any reason on the way ca

22、n be compensated by insurance company.The additional coverage can be taken out separately.The insurance coverage of ICC (A), ICC (B), ICC (C) is roughly the same as that of FPA, WPA, All Risks under CIC respectively.It is the best way to choose a large insurance coverage.Land Transportation Risk is

23、almost equivalent to WPA.When a number of consignments of similar export goods are intended to be covered, open policy is a better method.(Answers: 1F2T3T4T5F6F7F8F9T10T)There are three parties involved in a draft, while two parties in a promissory noteAn L/C is a conditional bank undertaking of pay

24、ment, and refers to bankers credit.An L/C is an irrevocable one if it does not stipulate whether it is irrevocable or revocable in it according to UCP 600.The seller prefers a confirmed L/C to an unconfirmed L/C.The payee and the drawer of a draft used in international trade must be the same person,

25、 that is, exporter.As to the seller, the risk of D/A 60 days after sight is greater than D/P 60 days after sight.In the case of D/P, documents will not be released to the importer until payment is made. (Answers: 1T2T3T4T5F6T7T)Generally speaking, it is necessary for the buyer to clearly specify a p

26、eriod of validity of the L/C when applying for the opening of L/C.The issuing bank should be located in the importers country, while the advising bank shouldbe located in exporters country.The buyer will inform the seller the opening of L/C and pass the L/C to the seller.The L/C should arrive at the

27、 seller several days before the time of shipment.It is only the exporter that should examine the L/C.All the discrepancies in an L/C should be amended.The L/C can be amended directly by applicant and be transferred to the beneficiary.If the exporter does not return the unacceptable amendment notific

28、ation to advising within 3 says after he receives it, it will be thought that he has agreed with the amendment.When there are more than two changes in L/C amendment, the beneficiary can only accept all or refuse all.The amendments should be announced one by one for several times. (Answers: 1T2T3F4T5

29、F6F7F8T9T10F)The agency to inspect the commodities in international trade must be decided by the seller and the buyer.When EXW or DDP is used, the commodity is generally inspected in the exporting country.All export commodities should be inspected by commodity inspection bureaus.Landed quality and w

30、eight means that the inspection carried out at the port of destination will be final.For one contract, the same method of inspection should be used for inspection reinspection to avoid disputes.Once the payment of penalty is made, the contract is no longer to be performed.In international commodity

31、sales contract, penalty and compensation for the losses is same thing.The seller should bear the loss cause by force majeure.Arbitration is the best way to solve problems in international trade.The arbitral award once made is the final decision and has the force of law. (Answers: 1F2F3F4T5T6F7F8F9F1

32、0T)Trading companies can arrange shipment by themselves or through freight forwarding agents.The freight forwarding agent usually levies a service fee based on a percentage of the freight charge for income.Freight rates can be influenced by such factors as mode of transport, origin and destination o

33、f the cargo, and nature of good and packing.One weight ton is equal to one cubic meter, while one measurement ton to one metric ton.W/M plus Ad Val means that the highest of them will be collected when freight is calculated.The air freight includes charges such as customs fees and storage fees.Lay time in the contract is the same thing as shipment time.Consignment note is used not only for road or rail transport, but also for multimodal transport.Bill of lading represents the title to the goods an