tổng hợp các câu hỏi mẫu đề ôn Tiếng ANh chuyên ngành 2 Đại học NGoại thương tiếng Anh thương mại , hợp đồng, Incoterms, Transfer of risk from the seller to the buyer, Where is often the place of expiry of the credit
Trang 1ĐỀ 1
1 Which is the most appropriate method of payment for
the exporter in the following case?
A new small customer in a Pacific island republic much given to
political disturbances The order is for $10,000 worth of
assorted textiles
D Confirmed letter of credit
2 The greatest fear for the exporter is…
C Being unable to get paid for the goods sold
3 Transfer of risk from the seller to the buyer (Incoterm
2000): FCA
B When the goods are handed to the first carrier
4 Elderly people are ……… to deal with a contract
A FAS Beira
7 Where is often the place of expiry of the credit?
C At the counters of the confirming bank
8 The lump-sum compensation is set too high
C Penalty
9 What does “3/3 Marine Bill of Lading” mean?
A It means the exporter must produce three originals and
three copies of the marine bill of lading
10 Transfer of risk from the seller to the buyer (Incoterm 2000): DEQ
A When the goods are ex-quay
11 The exporter’s interests are best served by
D A combination of all of the above
12 Which of the following is the objective aimed at by the exporter to minimize the risk of the goods being rejected or of heavy defects liability claims?
C Negotiating detailed specifications
13 Inspection by the is called “open package
inspection”
D Importer
14 In a contract, consideration may consist of
D Right, interest, profit, detriment and loss
15 If the price is quoted FAS Osaka., who pays for the
D Road consignment note
18 All risks covered is under clause
C Return the goods and refund the price
22 Every contract is governed by
C Applicable law
23 If the bank sees from a marine bill of lading that
transport will take place on deck, what will the bank do?
A The bank will reject the shipping document if the letter
of credit does not allow this
24 Which countries require that all goods imported to their countries are inspected by the SGS immediately before shipment?
C Indonesia
25 When a contract is cancelled, a payment problem
arises; the party in breach has a case of payment
B Weak
26 In international contracts, parties try to exclude assignment of rights without
B Written consent of parties
27 Termination for default occurs when the contract
names certain which allow on side to terminate
B Defaults
28 Thảo chụp thiếu
29 Termination for convenience occurs when one party
simple decides to drop the contract and
32 Which of the following statements if TRUE?
C The amount of the credit should be expressed both in figures and in words
33 Returned shipment to the exporter’s country means:
A The deal is a total loss for the exporter
34 Within the four alternatives of the at-sight letter of credit, which one is the least satisfactory for the exporter?
D Settelment by negotiation
35 If the exporter knew the buyer;s intended purpose,
and if the buyer relied on the exporter’s knowledge and
expertise, the buyer can reject goods that are not suitable for
their intended purpose This is called
D Implied warranty of fitness for intended purpose
36 A bill of lading with the note is
B Claused BL
37 What are the set of assumptions with which a price
quotation is based?
D Delivery, payment and warranty terms
38 What would be the effect on the price of the goods traded if the buyer wants the goods sooners?
D The price of the goods will go up as extra costs involved due to extra working shift from the manufacturer
39 Of the 3 options available for settling disputes,
litigation before the court is internationally lea st attractive as it
is
A Expensive and legalistic
40 Which is the most appropriate method of payment for the exporter in the following case?
A contract for supply of cloth worth $5,000 per month to the government of Oceanea – a prosperous country Duration of the contract is 2 years, but renewable Contract represents 25% of turnover
C If possible, a bank guarantee Otherwise, export credit insurance
Trang 241 Which of the following discrepancies is NOT the
problem with Insurance?
A Documents are not presented within the required
time
42 Cancellation on grounds makes no legal sense
C Trivial
43 A contract is a written agreement and it follows the
‘meeting of minds” and
C Offer and acceptance
44 In negotiating a LC, the step in which th e buyer applies for the letter of credit specifying the agreed documentations is
D None of the above
45 What are 2 principles which serve to make the letter of
credit watertight
B Autonomy and strict compliance
46 The buyer can reject goods that are not of saleable quality.This is called
C Implied warranty of merchantability
47 The fact that manufacturer often tempted to be
over-optimistic and to agree to impossible specifications is
in business
B risky
48 Who usually has to pay for curing defects?
B.The seller
49 In most guarantees, the bank agrees to pay “on first
demand” which means…
D Without demur or objection
50 occurs when contract allows one party to end
it under given circumstances
A Termination
ĐỀ 2
1 Which is the most appropriate method of payment for the
exporter in the following case?
A new small customer in a Pacific island republic much given to
political disturbances The order is for $10,000 worth of
assorted textiles
D Confirmed letter of credit
2 “The Buyer shall notify the Seller of defects without undue delay” This is an example of:
B Notification period
3 Why letters of credit are formally called ‘documentary
credits’?C Because in a letter of credit situation,
documents are exchanged for money
4 When the Bill of lading marked “freight prepaid” Who pays for the freight?
B B The Seller
If either party is prevented from, or delayed in, performing any
duty under this Contract by an event beyond his reasonable
control, then this event shall be deemed force majeure…
The workforce at the factory go on strike
D Any of the above
Termination for convenience occurs when one party simply
decides to drop the contract and -
a No reason is required
In a contract, a formal definition is the best way of clarifying what exactly the two sides have ………
Why do most exporters offer a discount for early payment, for
example a 1% discount if payment is made within 10 days of
the date of invoice?
C Because the exporter can substantially improves
his cash flow
If the price is quoted FOB Singapore, then the seller is not obliged to pay insurance and freight Right or wrong?
C Partly right, as the seller is obliged to pay only the freight and insurance necessary to put the goods on board
of the designated vessel by the buyer
In negotiating a letter of credit, the step in which the list of all
required documentation is incorporated into the contract is
………
B Incorporation
Discount Records bought phonograph records from an exporter Payment was by letter of credit issued by Barclays Bank The exporter delivered a mix of cassettes, eight – track cartridges and other non - contractual goods Discount Records tried to get an injunction to stop Barclays from paying under the letter of credit What you think the court would do in that case?
D The exporter will be paid – although later action in the courts may oblige him to make good any damage he has caused the buyer
In contracts, “partial invalidity provision” means the invalidity of
one part of the contract…………
b does not invalidate the rest
The bill of lading issued by the carrier for road transport is called …
D Road consignment note
In settlement by acceptance, what will the bank do after
receiving the documents and draft drawn on the buyer from the
seller?
D The bank agrees to pay the bill when it matures
In negotiating a letter of credit, the step in which the exporter checks the credit to see that required documentation is as agreed is ………
C Verification
In a contract, consideration may consist of ………
d right, interest, profit, detriment, and loss
Which of the following examples is a patent defect?
a Crushed or stained garments
Negotiation of specifications between the exporter and the
importer can be b a difficult
process
An offer dies if it has a/ an ………
d Revocation
In settlement by sight payment ………
C The seller presents the necessary documents to
the paying bank
A contract requiring an exporter in Ethiopia to send the contract goods by air for delivery in Windhoek, Namibia
B CIP Windhoek
Which of the following concepts is best used to avoid confusion
when we mean an assurance that the exporter will make good
defects in his goods? c Defects liability
When parties agree to end a contract, - occurs
Trang 3Defects that come to light after buyer’s acceptance are called
_
b latent defects
The clause covers General Average
C A,B,C
If shipment is made on CIF or CIP terms, the letter of
credit will call for ………
Which of the following discrepancies is NOT the problem with
the Letter of Credit?
C There is no endorsement if endorsement is
necessary
The best solution for the exporter to make late payment impossible is…
D a confirmed, irrevocable, at sight letter of credit
Which of the following discrepancies is NOT the problem with
inconsistencies among the documents?
B Documents are not presented within the required
time
Transfer of risk from the seller to the buyer (Incoterm 2000): CIF
C When the goods across the ship’s rail
If the force majeure event continues for too long, both parties
have the right to
B terminate the contract
A contract is not enforceable if …………
c it has an illegal purpose
Under most laws, a buyer can make certain assumptions about
goods These assumptions are called (by lawyers):
A commercial invoice must be made out to ………
D The applicant for the letter of credit, normally to the buyer, unless otherwise stated in the credit
In drafting an arbitration clause, the following questions must
be resolved:
d All of the above
A disclaimer of Warranty often accompanies delivery of:
B Marine bill of lading
5 A contract requiring an exporter in Mozambique to
deliver contract goods in Beira, Mozambique for the shipment
Dar es Salaam,
A FAS Beira
6 The bank helping the export to check the correctness
of the document and set the procedure in motion is …
B The advising bank
7 Continental law is also called …
A Civil law
8 The lump-sum compensation is set too low:
B Quasi indemnity
9 (Note: If either party is prevented from, or delayed in,
performing any duty under this contract by an event beyond his
reasonable control shall be deemed force majeure)
A ban issued on the export of jute products by newly elected
government.B Questionable
10 Inspection by buyer is called:
C Open package inspection
11 If the price is quoted FOB Singapore, then the Seller
is not obliged to pay insurance and freight Right or Wrong? C
Partly right, as the Seller is obliged to pay only the
insurance and freight necessary to put the goods on board
of the designated vessel by the buyer
12 To cure defective goods, the best option for the exporter is:
D Dependent on the types of goods
13 Defects such as wrong items, broken or missing parts,
scratches and so on are called …
A Patent defects
14 If the exporter knows the buyer the intended purpose, and if the buyer relies on the exporter’s knowledge and expertise, the buyer can reject goods that are not suitable for their intended purpose This is called…
D Implied warranty of fitness for intended purpose
15 The fact that the manufacturer often tempted to over –
optimistic to agree to impossible specification is ……… in
business B Risky
16 A contract is a written agreement and it follows “the meeting of minds” and ……
C Offer and acceptance
17 Why letters of credit are often called “documentary
D Yes, it is
19 The advantages of arbitration are:
A Private and foreseeable cost
20 In terms of payment in international trade, ……
D Risk and cost rise and fall together
Trang 421 Delivery of the goods under most export contracts
take place in the country of:
B The exporter
22 Partial invalidity clause can help to avoid problems with contract that …
A Might infringe government regulations
23 Who issues export credit insuarance?
C An insurance company
24 Which of these does not required prior inspection by SGS?
C The UK
25 Unless the LC states otherwise, insurance coverage
on a CIF or CIP shipment must be for…… of the CIF (or CIP)
value of the goods D 110%
26 Which of the following discrepancies is not the problem with insurance?
A Documents are not presented within the required time
27 If shipment is made on CIF or CIP terms, the L/c will
call for….?
D either A or C
28 A term or terms in a contract could raise the contract price
D A longer warranty period
29 The exporter ‘s interest are best served by…
D a combination of all of the above
30 Continental law doesn’t require long and… Contract
D detailed
31 If the buyer comes from a country which has a poor
reputation for enforcing awards, the best method of payment
under the contract is a/an…
B at sight, confirmed L/c
32 Allowing the Buyer to repair the equipment at the exporter’s cost…
D is often unsafe for exporter
33 The point of delivery is much the same for all….terms
and….terms- when the exporter hands the goods over to the
D are not provisions, promises and conditions
36 The B/L issued by the carrier for road transport is called
D Road consignment road
37 …are the explanations
B Whereas- recital clauses
38 There is no connection between the L/C and the sales contract Right or wrong?
A Completely right
39 Assuming shipment is by rail, what if an L/C depends
on the original B/L
C Such an L/C is certain to cause delay in payment
40 Which of the following discrepancies is NOT the problem with the L/C
C There is no endorsement
41 The answer to background questions are written
A through the whereas- recital
42 In the contract, the word “whereas” means:
D “because” or “considering that”
43 Export credit insurance is very attractive, however, it
has certain limitation like
C long time since the buyer fails to pay up to the time the
insurance company compensates the exporter and the
inability of covering 100% of the original invoice price
44 Why do the exporters offer a discount for early payment, for example a 1% discount if payment is made within
10 days of the date of invoice
C Because the exporter can substantially improves his cash flow
45 Continental lawyers complicated grammar f the
where clause
A often avoid
46 According to the UCC, if the goods fail in any respect
to conform the contract, the buyer may
D All the above
47 Who issues a bank guarantee?
D a bank
48 The clause covers General Average
C A,B, C
49 The contract should regulate what happen if Incoterm
2000 and the term of the contract conflict: normally the
1 A contract requiring an exporter in Ethiopia to send
the contract goods by air for delivery in Windhoek, Namibia
B CIP Windhoek
2 … happens when one party ends the contract because of breach by the other
A Cancellation
3 A unilateral offer can be defined as:
B An offer made of a promise in return for an act
4 The point of delivery is much the same for all … terms and … terms – when the exporter hands the goods over to the carrier
A C and F
5 The point at which money is deemed to be paid most
preferred by buyer is …
C When the buyer instructs the bank to pay
6 A contract requiring an exporter in Mozambique to deliver the contract goods in Beira, Mozambique, for the shipment by sea to Dar es Salaam, Tanzania
A Fas Beira
7 Transfer of ris k from the seller to the buyer
(Incoterm 2000): DDP
A When the goods are at the buyer’s premises
8 The defects liability clause should state:
C Both A and B
9 In settlement by deferred payment, the letter of credit
is paid after delivery Right or wrong?
D The letter of credit is not payable until a number of
days
10 Among a number of international bodies offering arbitration services, the … in Paris is the most prestigious
C ICC
11 In a contract, consideration may consist of …
D Right, interest, profit, detriment, and loss
12 The mechanism of a confirmed letter of credit works
as follows
C Buyer instructs an issuing bank to instruct a confirming bank to pay under a letter of credit in favor of the seller
Trang 513 Transfer of risk from the seller to the buyer (Incoterm
2000): DES
A When the goods are ex-ship
14 The majority of shipping document presented to banks under documentary credit transactions are accepted on first presentation Right or wrong?
17 “A voltmeter that is specified as accurate within 1
millivolt is accurate within only 5 millivolt” is an example of:
A Defective design
18 A price an payment clause taken from an export contract is as follows: “the price payable for the Contract Goods
as specified in Annex A is $500,000” What is missing?
C The clause lacks all the necessary five steps in negotiating payment like payment mode, time, place, delay and results of delay
19 Who issues export credit insurance?
C An insurance company
20 In contracts, “partial invalidity provision” means the invalidity of one part of the contract …
B Does not invalidate the rest
21 Which type of bill of lading is negotiable?
C To order
22 The cheapest mode of transport is …
A By sea
23 Which of the following discrepancies is not
the problem with inconsistencies among the documents?
B Documents are not presented within the required time
24 Which country requires that all goods imported into the country are inspected by the SGS immediately before
shipment? C Indonesia
25 The two terminologies which mean the same thing as
…
C Warranty and defects liability
26 Which of the following method of payment is not possible?
D Part of the contract price is paid by letter of credit but there is not a clear figure stated in the amount of the credit
27 Dawson bought vanilla beans from Indonesia Dawson
instructed an American bank to open a letter of credit One of
the required shipping documents was a certificate of quality
issued “by experts” The bank paid the exporter The beans,
when they arrived, were rubbish The certificate of quality was
signed, however, by only one “expert” Could the bank collect
from Dawson the money it paid to the exporter?
C No, it couldn’t
28 Once the bank has indicated the discrepancies, what can the exporter do?
D Any of the above
29 What is a letter of credit calls for ‘a complete set of
original air waybills’?
D Only the second original of the air waybill goes to the
consignee The bank, however, will follow the wording of
the letter of credit exactly and refuse an ‘incomplete set’
B Near the beginning
33 Which of the following discrepancies is not the
problem with the letter of credit?
D Insurance cover is expressed in a currency other than
that of the credit
34 Continental Law is also called …
A Civil Law
35 If the buyer can make certain assumptions
about goods – even if the exporter gives no express warranty,
these assumptions are called …
D Implied warranties
36 When an offer is made, it is not applicable when it has
…?
C Revocation
37 For the exporter, the option to repair a
defective item abroad …
B Can be costly
38 The bank notifying the exporter that the letter of credit has been opened is called …
B The advising bank
39 When the goods arrive, if they are …, the importer can
reject them but if they … specifications, he is obliged to accept
them
A Defective/conform to
40 Transfer of risk from the seller to the buyer (Incoterm 2000): CIP
B When the goods are handed to the first carrier
41 Who issues ocean bill of lading?
C Shipping company
42 A contract requiring the exporter to send the contract goods by road from Kenya to Zambia with freight paid by the exporter
B CPT Lusaka
43 Of the three options available for settling disputes,
litigation before the court is internationally least attractive as it
is …
A Expensive and legalistic
44 The clause covers General Average
47 Small purchases in private life are often in the form of
D Any of the above
48 An offer dies if is has a/an …
D Revocation
49 Continental law has well developed private
law, especially contract and
A Commercial law
50 “repair by the buyer” provision is often …
C Avoided by the seller
Trang 6ĐỀ 5
1 In how many originals and copies is the air waybill
issued according to the standard of the International Air
Transport Association - IATA?
C Three originals and nine copies
2 The Disclaimer of warranty means:
B The buyer is denied of some of his normal rights
3 Dawson bought vanilla beans from Indonesia Dawson
instructed an American bank to open a letter of credit One of
the required shipping documents was a certificate of quality
issued “by experts” The bank paid the exporter The beans,
when they arrived, were rubbish The certificate of quality was
signed, however, by only one “expert” Could the bank collect
from Dawson the money it had paid to the exporter?
C No, it couldn’t
4 War risk is not included in …
C A, B, C clause
5 In CIF and CIP contracts, the exporter normally
assigns the insurance agreement to …
A The buyer
6 Normally Risks are transferred at the point of
A Delivery
7 Shortage of supplies ( background: the exporter
cannot get the raw jute he needs from the supplier because of
a shipping delay)
8 Transfer of risk from the seller to the buyer (incoterm 2000) : CIP
B When the goods are handed to the first carrier
9 The period during which the buyer can begin a legal
action is legally called
C Legal action period
10 The bank that the buyer asks to open a letter of credit
is called …
A The issuing bank
11 Minimum coverage is the so-called Cargo clause …
C C
12 The two terminologies which mean the same thing are
C Warranty and Defects Liability
13 The bill of lading issued by the carrier for combined
transport is called …
D Combined transport bill of lading
14 Which of the following is the objective aimed at by the exporter to minimize risk of the goods being rejected or of heavy defects liability claims?
C Negotiating detailed specifications
15 A warranty is aimed at
B Assurance of product performance
16 Inspection of the goods by the buyer in the manufacturer’s factory is referred to as:
on this subject for five years
Khaothi la Yes, theo sach la Questionable
19 The names of … are normally the full, registered
name of the company
B Open account with no security
27 The method of payment which is dangerous for the
exporter is …
B Accepting a personal check
28 In negotiating a letter of credit, the step in which the exporter rigorously checks documentation and submits it to the bank is …
D Compliance
29 Why do most exporters offer a discount for early
payment, for example a 1% discount if payment is made within
10 days of the date of invoice?
C Because the exporter can substantially improves his
31 What happens if the issuing bank finds a problem with
the documents and refuses to send funds to the advising bank
to cover payment?
C The payments from the advising bank to the exporter
are always made which recourse The exporter has to pay
back the advising bank in such a case
32 Negotiation of specifications between the exporter and the importer can be …
C Buyer instructs an issuing bank to instruct a confirming
bank to pay under a LC in favor of the seller
36 Assuming shipment is by rail, what if a LC demands the original bill of lading?
C Such a LC is certain to cause delay in payment
37 Which of the following discrepancies is not
the problem with the LC
D Insurance cover is expressed in a currency other than
that of the credit
38 … is open-ended
C Open cover
Trang 739 Which of these counts as a defect?
A Wrong design
40 What can protect both the exporter and the importer in
an export contract?
A A well-designed set of specifications
41 In negotiating a LC, the step in which the list of all
required documentation is incorporated into the contract is …
B Incorporation
42 In settlement by deferred payment, the LC is paid after delivery Right or wrong?
D The LC is not payable until a number of days
43 A contract is not enforceable if …
C It has an illegal purpose
44 In principle the buyer can reject delivered goods if they do not conform to the contract This is called …
B Implied warranty of conformity
45 If the price is quoted FOB Singapore, who pays the
insurance and freight?
B The buyer
46 The majority of shipping documents presented to banks under documentary credit transactions are accepted on first presentation Right or wrong?
B Definitely wrong
47 As for Anglo-American law, the decision of the judge
is always …
C Unpredictable
48 The Anglo-American contract is …
B Traditionally the entire agreement
49 The Vienna sales convention is also called …
C The uniform nations convention on the Contracts for the
international sale of goods
50 In a contract, the word “whereas” means …
D “because” or “considering that”
ĐỀ 6
1, Is there any requirement that the air waybill shows the date
of the flight?
B, yes, there is
2, Disclaimer of warranty often accompanies:
D, Contacts for software
3, in negotiating a letter of credit, the step in which the exporter
rigorously checks documentation and submits it to the bank
is…
D, Compliance
4, which off the following statement is wrong?
B, Sometimes, the bank may question the necessity or value of the documents
5, Companies …….to use the short form of the names in
contracts
C, are allowed
6, It is common to put the definition clause…….of the contract
B, near the beginning
7, The stand-by letter of credit originated in the U.S is used
from there because
C, the banking law in some states forbids banks to issue
payment guarantee
8, The court of arbitration applies whatever………the parties stipulate in the contract
C, national law
9, contract comes into force when an offer is made by one side
and……by the other
A, When the goods are ex-ship
12, If a country ratifies the Vienna Sales Convention, in the event of conflicts, the Vienna Sale Covention can …… the national law
A, Prevail over
13, Which type of payment is the most advantageous for the
exporter?
A, Credit by sight payment
14, The point at which money is deemed to be paid most preferred by buyer is……
C, When the buyer instructs the bank to pay
15, In settlement by sight payment…………
C, The seller presents the necessary documents to the paying
bank
16, Failure to meet specification is a
C, Defect in design
17, what is transferable credit
B, It is the kind of credit which allows the first beneficiary to
request the confirming bank to pay a third party
18, A marine Bill of lading becomes negotiable document and
no restriction on ownership when it is…
A, to order, bank endorsed
19, in international trade, if payment is made on delivery, the
method of payment to be chosen will be……
D, At sight letter of credit
20, decision of arbitrator is……
23, which of the following examples is a patent defect?
A, crushes or stained garments
24, the word ‘cash’ in international trade means…
C, check or bank transfers
25, a disclaimer of warranty often accompanies delivery of
A, software
26, Once the bank has indicated the discrepancies, what can the exporter do?
D, any of these above
27, which of the following discrepancies is NOT a problem with
the LC
C, there is no endorsement if endorsement is necessary
28, “Minimum coverage” is the so-called Cargo Clause……
A, Yes
33, Inspection by carrier on dispatch is often carried out:
A, in seller’s country 34,Druken people have no……to sign a contract A, contractual capacity
Trang 835, Dawson bought vanilla beans from Indonesia Dawson
instructed an American bank to open an LC One of the
required shipping documents was a certificate of quality issued
“by expert” The bank paid the exporter The certificate of
quality was signed However, by only one “expert” Could the
bank collect from Dawson the money it had paid to the
37, if the price is quoted CIF San Francisco, who pays for the
insurance and freight?
A, the exporter
38, assuming shipment is by rail, what if a LC demands the original Bill of lading
C, Such a letter of credit is certain to cause delay payment
39, in negotiating a LC, the step in which the exporter checks
the credit ti see that required documentation is as agreed is
C, return the good and return the price
44, a contract requiring an exporter in Ethiopia to send the contract goods by air for delivery in Windhoek, Namibia
B, CIP Windhoek
45, to make sure that the officer signing the contract has
authority to sign the contract, partiesshoud check
B, the authenticity of the signature
46, when are document considered to be stale?
B, when they are submitted to the opening bank after the merchandise has already arrived
47, a well-designed set of specifications protects buyer
against… products
C, inferior
48,in a contract, ‘whereas’ mean
D, because or considering that
49, who issues bill of lading
C There is no endorsement if endorsement is necessary
3 The Vienna Sales Conservation is also called:
C The United Nations Convention on Contracts for the
International Sale of Goods
4 Negotiation of specification between the exporter and the importer can be
B a difficult process
5 Which is the most appropriate method of payment
for the exporter in the following case? Sale of a bale (roll)
of cloth costing $200 to a nearby tailor’s shop with whom
you have done business for 20 years
B Open account with no security
6 Which of the following statement is wrong?
A The bank must check if the documents specified in the letter
of credit are in perfect order
B Sometimes the bank may question the necessity or value of the documents
7 A contract requiring an exporter in
Ethiopia to send the contract goods by air for delivery in
D 110%
13 Which of the following discrepancies is NOT the
problem with the LC?
D Insurance cover is expressed in a currency other than
that of the credit
14 What does “3/3 Marine Bill of Lading” mean?
A It means the exporter must produce three originals and three copies of the marine bill of lading
15 The background of the contract is provided in the
form of _
D a whereas- recital
16 Continental Law copies with _
C National issues
17 The advantages of arbitration are _
A Private and foreseeable costs
18 It’s always good for the exporter to promote his skills and the excellence of his products _
C return the goods and refund the price
21 Disclaimer of warranty often accompanies:
D Contracts for software
22 The bill of lading issued by the carrier for combined transport is called
D Combined transport bill of lading
23 The force majeure clause suggested by
the International Chamber of Commerce, for example,
states that payment of interest on overdue sums payable
to the seller is by
B not excuses/ force majeure
24 What happens if the issuing bank finds a problem with the documents and refuse to send funds to the advising bank to cover payment?
C The payments from the advising bank to the exporter are always made with recourse The exporter has to pay back the advising bank in such a case
Trang 925 General average has the conditions
D A and C
26 Unless otherwise agreed, the insurance is
“minimum cover” – cargo clause _
C C
27 Within the four alternatives of the at-sight LC,
which one is the least satisfactory for the exporter?
D Settlement by negotiation
28 How many originals and copies is the air waybill issued according to the standard of the International Air Transport Association – IATA?
C Three originals and nine copies
29 Transfer of risk from the seller to the buyer
(Incoterm 200): EXW
A When the goods are at the seller’s premises
30 The names of are normally the full, registered the name of the company
D the parties
31 With defective heavy equipment, it is usually the
case that:
C just a defective part is replaced
32 How many types of implied warranties are there?
B three
33 The buyer can reject goods that are not of
saleable quality This is called
C Implied warranty of merchantability
34 Small purchases in private in life are open in the form of
D Any of the above
35 “Repair by the buyer” provision is often
C avoided by the seller
36 An offer is not always, in international practice, the first move in forming a _
A contract
37 Transfer of risk from the seller to the buyer
(Incoterm 2000): FCA
B when the goods are handed to the first carrier
38 Who issues export credit insurance?
C an insurance company
39 Returned shipment to the exporter’s country
means:
A the deal is a total loss for the exporter
40 In a contract under a Continental law, a recital
D a confirmed, irrevocable, at sight letter of credit
43 What are the common discrepancies
reported by banks in practice?
D Any of the above
44 Which of these does not count for a defect?
B Misuse
45 In settlement by deferred payment, if the
seller needs money immediately, what can he do?
B He can exchange the letter of credit for cash with any
agreeable bank
46 The clause covers General Average:
C A, B, C
duties correctly, a contract is discharged by
C Performance
48 Earthquake, volcanic eruption and lighting are not covered under the cargo clause _
C C
49 The risk of rough handling is not
covered under the cargo clause
D road consignment note
2 Elderly people are … To deal with a contract
B Able
3 In settlement by sight payment …………
C the seller present the necessary documents to the paying
bank
4 Is there any “refconfirming bank”
B Yes There is one in case banks are reluctant to confirm letter of credit, especially those ffrom obscure banks
5 The cost of L/C amendments are normally for …………
D The one who ask for such amendment
6 The disadvantage of …… policy is that it is set up for particular time and automatically expires
B floating
7 Where is often the place of expiry of the credit
C At the counters of the confirming bank
11 In settlement by deffered payment, if the seller needed
more money immediately, what can he do
B he can exchange the letter of credit for cash with any
agreeable bank
12 What would be the effect on the price of goods traded if the buyer wants the goods sooner
D The price of the goods will go up as extra costs involved due
to the extra working shift from the manufacturer
13 The place of payment is very important because late
payment is subject to payment of interest and the cost of any
delay along the payment route properly belong to …………
A The buyer
14 Transfer of risk from the seller to the buyer (Incoterm 2000): DDU
A When the goods are at the buyer ‘s premises
15 Under Anglo – American Law, a contract must give…
A both right sides and duties
16 A contract requiring an exporter to sent the contract goods
by air for delivery in Windhoek, Namibia B> CIP Windhoek
17 “ A machine that consumes more fuel than specifications” is
an example of ……
A latent defect
18 Anglo – Amrican Law develop[ed through……
C.Court decisions
Trang 1019 TO make sure that the officer signing the contract has
authority to sign the contract, patientsshoiul check…
B.Theauthencity of the signature
20 A contract Is not enforceable if ………
C it has an illegal purchase
21 “the radio lacks the wires connecting the loudspeaker to the
amplifier” is an example of
C defective workmanship
22.The bill of lading issued by the carrier for combined transport a s called…
D combine transport bill of lading
23 The best solutinon for the xporter to make the the late
payment immpostible is …
D A confirm is irrrevocable, at sight latter credits
24 The bill of lading issued by the carrier for rail transport is called ………
C Railway consignment note
25 All risks cover is unger ……… Clause
A A
26 The advising bank never pays the exporter directly Right or wrong ?
C It depends on the type of credit
27 In term of payment in international trade, ………
D Risk and cost rise and fall together
28 Which type of payment is the most advantageous for the exporter
A credit by sight payment
29 A well – designed set of specifications protect:
C both parties
30 To avoid confusion, may contract drafters use “ ………… ” instead of “ warranty”
D defect liability
31 Inspection by the buyer is called
C open package inspection
32 It is possible for the beneficiary (exporter) sometimes, though not often, to make a draft on the band to collect the money
D Yes, it is
33 A bill of lading with the note is …………
B clause bill of lading
34 In settlement by acceptance, what will the bank do after receiving the documents and drafts drawn on the buyer from the seller
D the banks agree to pay the bill when it mature
35 Another name for warranty is
B defect liability
36 to cure the defective goods, the best option for the exporter
is
D dependent on the types of goods
37 A mistake about the goods in a contract means there is no
………
B meeting of minds
38 The exporter should have no liability for the goods when they are …………
A beyond the control
39 Wsr risk is not included in
C A,B,C clause
40 The arbitrator’s award are
B final and enforceable
41 ………… Bill of lading – found sth wrong with the
43 The decision of arbitrators is
B business – oriented 44 Termination for default occurs when the contract names certain ………… which allow one side to terminate
B defaults
45 When the exporter fills in the letter of credit application
form, if the box “requested” for the “confirmation of credit to the
beneficiary” is ticked what does it mean?
B It means the exporter wants the bank in his country make
the payment itself and recover the funds from the buyer ‘s bank
46 The thing that the exporter should keep in mind in negotiating payment are ……
A Payment mode , timing, place, delay, and results of delay
47 As the consequence of a defect can be expensive, the
question of who pays for the consequential loss or damage is
The confirming bank has paid the money to the exporter and has
no way of recovering it The confirming bank must pay the exporter without recourse
3 A contract requiring an exporter in Ethiopia to send
the contract goods by air for delivery in Windhoek, Namibia
The exporter wants to be informed of the issuance of the
letter of credit by telex
8 The two terminologies which mean the same thing are
Warranty and Defects Liability
9 In settlement by sight payment
The seller presents the necessary documents to the
paying Dank
10 There are… parties to a warranty and… in a guarantee
two/three
11 A commercial invoice must be made out to _
The applicant for the letter of credit, normally to the buyer,
unless otherwise stated in the credit
12 Inspection of the goods by the buyer in the manufacturer’s factory is referred to as:
Pre-delivery inspection
13 What are the set of assumptions with which a price
quotation is based?
Delivery, payment and warranty terms
14 A marine bill of lading can be negotiable document with which
The buyer can use it to resell the goods during shipment
Trang 1115 The background of the contract is provided in the form
of
a whereas-recital
16 Who signs "shipped on board’' notation?
Captain
enforce his solution or to bind the parties, his task is
to suggest a fair solution only
Conciliator
19 If the buyer can make certain assumptions about
goods - even if the exporter gives no express warranty, these
assumptions are called…
implied warranties
20 How do you know Bill of lading is "Marine Bill of lading”?There is a……
on board notation
21 With a well-designed set of specifications, the seller
can protect its… and avoid costs
Reputation
22 The place of delivery is doubly important to the exporter because the date of… normally depends on time and place of delivery
Payment
23 After making the shipment of the goods to the buyer,
the exporter presents the shipping documents to…
The advising bank
24 If a dispute arises, the recital allows the court to discover the real meaning of
CPT Lusaka
27 Failure to meet specifications is a:
Defect in design
28 The answers to the questions of implied warranties
are supplied by:Most laws
29 The bill of lading issued by the carrier for road
transport is called Road consignment note
30 When the Bill of lading marked "freight prepaid” Who
pays for the freight?The Seller
31 Companies ………to use the short
form of the names in contracts
are allowed
32 The things that the exporter should keep in mind in
negotiating payment are Payment mode, timing, place, delay and results of delay
33 To avoid confusion, many contract drafters use " _”
instead of "warranty”.defect liability
34 There is no connection between the letter of credit and the sales contract Right or wrong?Completely right
35 A letter of credit can be either "revocable” or
"irrevocable” Few exporters will accept a revocable letter of
credit, so the plain expression "letter of credit1' generally means
the irrevocable kind The word "irrevocable”, therefore, should
not always appear in the text of the credit and of the contract
Right or wrong?
Wrong, because it should always appear in the text of the
credit and of the contract according to the ICC's rules
36 The expiry date of the letter of credit is
B The last date for presentation of documents to the bank
37 The lump-sum compensation is set too high penalty 38 The place of payment IS very important because late
payment IS subject to payment of interest and the cost of any delay along the payment route properly belongs toThe buyer
39 Why is the Certificate of Origin required?Because the
goods imported are under a preferential tariff or other
agreement
40 Of the three options available for settling disputes, litigation before the court is internationally least attractive as it
is Expensive and legalistic
41 _can create no - contract situations
Duress, fraud, and mistake all
42 To cure the defective goods, the best option for the
exporter is: dependent on the type of goods
43 Quality assurance and customer satisfaction are the
same issues for customers
Both A and B
44 "Minimum Coverage" is the so-called Cargo Clause
C
45 Which of the following discrepancies is NOT the
problem with the Letter of Credit?
Insurance cover is expressed in a currency other than that
of the credit
46 Parties to contract for the sale of goods are free to choose
Applicable law
47 (Note: If either party is preventedfrom, or delayed in,
performing anv duty under this Contract bv an event beyond his
reasonable control, then this event shall be deemedforce
majeure.) Shortage of supplies (Background: The exporter
cannot get the raw jute he needs from the supplier because the
Central Bank will not give him foreign exchange to pay the
C Legal action period
Cau 5: If the price is quoted CIP Marseille, who pays for the
insurance and freight?
B The exporter
Cau 6: How to make a bill of lading negotiable?
D Fill the words “to order” in the Consignee box
Trang 12Cau 7: Which of the following discrepancies is NOT the
problem with the Bill of Lading?
C The description of the goods on the invoice and the
description of the goods in the credit are different
Cau 8: Unless the letter of credit states otherwise, insurance coverage on a CIF or CIP shipment must be for … of the CIF (or CIP) value of the goods
D 110%
Cau 9: Inspection of the goods by the buyer in the
manufacturer’s factory is referred to as:
B Pre-deliver inspection
Cau 10: Termination may be for
C Convenicence Cau 11: Transfer of risk from the seller to the buyer (Incoterm
2000): DDU
A When the goods are At the buyer’s premises
Cau 12: If the buyer comes from a country which has poor reputation for enforcing awards, the best method of payment under the contract is a/an…
B At sight, confirmed L/C Cau 13: In settlement by sight payment
C The seller presents the necessary documents to the paying
bank
Cau 14: In contracts,… is not normally allowed
A Delegation of duties Cau 15: Cancellation on… grounds makes no legal sense
D Any of the above
Cau 19: Anglo – American law develops through…
do not conform to the contract This is called…
B Implied warranty of conformity
Cau 22: Companies… to use the short form of the names in contracts
C Are allowed Cau 23: In a perfomance guarantee, if the seller works badly or
not at all, the guarantor will pay the buyer, within stated
limits,…
D Between 5% and 10% of the contract price
Cau 24: The adivising bank never pays the exporter directly Right or wrong?
C It depends on the type of credit Cau 25: Which of the following is essential to successful
Cau 28: Elderly people are… to deal with a contract
B Able Cau 29: Under Anglo – American law, a contract must give…
A Both sides rights and duties
Cau 30: To avoid the dangers of slow payment, exporters try to protect themselves with a clasuses like this: “Payment shall be deemed to have been made only when….”
D Funds reach the seller’s bank account and at his full disposal
Cau 31: Export credit insurance gives the exporter an
acceptable level of security in terms of payment shall be paid
C Return the goods and refund the price
Cau 34: The risk of rough handling is not covered under the cargo clause…
D B and C Cau 35: Defects include
B Materials
Cau 36: the clause covers General Average
C A, B, C Cau 37: The background of the contract is provided in the form
established within the contract itself
A The background of the contract
Cau 40: Transfer of risk from the seller to the buyer (Incoterms 2009): DEQ
A When the goods are ex-quay Cau 41: The question of warranty is disposive This means:
B The exporter can usually exclude all warranties
Cau 42: The bill of lading issued by the carrier for rail transport
is called…
C Railway consignment note Cau 43: Where is often the place of expiry of the credit?
C At the counters of the confrimbank
Cau 44: The Incoterms… contains 13 terms
D 1990 and 2000 Cau 45: A ban is issued on the export of jute products by newly
elected government that has been preparing legislation on this
subject for five years
Khaothi la Yes, theo sach la Questionable
Cau 46: The majority of shipping documents presentd to banks under documentayr credit transactions are accpeted on first presentation Right or wrong?
B Definitely wrong Cau 47: The force majeure clause suggested by the
International Cham ber of Commerce, for example, states that
payment of interest on over due sums payable to the seller is
…… by ……
B Not excused/force majeure
Cau 48: What is a transferable credit
B It is the kind of credit which allows the first beneficiary to reques the confirming bank to pay a third party
Cau 49: What if a letter of credit requires “an appropriate
wildlife certificate”?
D All of the above
Cau 50: For the exporter, the option to repair a defective item abroad……
B Can be costly
Trang 13Đề 11
1 If both parties perform their duties exactly according to the
contract, the contract is…
C It depends on the type of credit
4 The defects liability clause should state:
B the replacement of the defective item to the return of it
8 If shipment is under Incoterms other than CIF or CIP,…
D The exporter pays for insurance till the port of discharge
9 A contract that is ultra vires is…
B unenforceable
10 The answers to background questions are written…
A through the whereas-recital
11 Under Anglo-American law, a contract must give…
A both sides rights and duties
12 The … has no power to enforce his solution or to bind the parties, his task is to suggest a fair solution only
B Conciliator
13 The arbitrators’ awards are…
B Final and enforceable
14 A letter of credit can be either “revocable” or “irrevocable” Few exporters will accept a revocable letter of credit, so the plain expression “letter of credit” generally means the irrevocable kind The word “irrevocable”, therefore, should not always appear in the text of the credit and of the contract Right
19 In CIF and CIP contracts, … must pay for insurance from
the point of delivery to the named point of arrival
A The exporter
20 Two parties sign a contract
A The contract is binding
21 Who usually pays for curing defects?
B The exporter
22 “Full set on board ocean bills of lading to order shipper, blank endorsed” In this clause shipper means…
D A or B or C It depends on the situation
23 Under the public law, a company can only sign a contract…
D that is within its power
24 If the price is quoted FOB Singapore, who pays for the insurance and freight?
D Yes, it is
27 A payment guarantee simply commits the bank to pay if the
buyer defaults The payment guarantee is usually for … of the
D It is not a charity It is beneficial for both exporter and insurance company
31 What is a transferable credit?
B It is the kind of credit which allows the first beneficiary
to request the confirming bank to pay a third party
32 If the price is quoted CFR Hai Phong, who pays for the freight?
B The exporter
33 Which is the most appropriate method of payment for the
exporter in the following case?
A contract for supply of cloth worth $5,000 per month to the
government of Oceanea – a prosperous country Duration of
the contract is 2 years, but renewable Contract represents
D The letter of credit is not payable until a number of days
37 “A machine that consumes more fuel than specifications” is
an example of
A Latent defect
38 If the force majeure event continues for too long, both parties have the right to…
B terminate the contract
39 Export credit insurance which gives the exporter an
acceptable level of security in terms of payment shall be paid
by… B The exporter
40 The lump-sum compensation is set too high…
C penalty
Trang 1441 Returned shipment to the exporter’s country means:
A the deal is a total loss for the exporter
42 Which is the most appropriate method of payment for the exporter in the following case?
A contract for supply of cloth worth $5,000 per month to the government of Oceanea – a prosperous country Duration of the contract is 2 years, but renewable Contract represents 0.5% of turnover
D Export credit insurance is advisable Selling on open account with no security at all is also possible
43 Transfer of risk from the seller to the buyer (Incoterm 2000):
FAS
A When the goods are ex-quay
44 Which of the following discrepancies is NOT the problem with Insurance?
A Documents are not presented within the required time
45 What are the set of assumptions with which a price
quotation is based?
D Delivery, payment and warranty terms
46 In a contract under a Continental law, a recital…
A a major contract issue
49 The greatest fear for the exporter is…
C Being unable to get paid for the goods sold
50 Under most laws, a buyer can make certain assumptions about goods These assumptions are called (by lawyers):
C Implied warranties
ĐỀ 12
1 The Anglo – American contract is
B Traditionally the entire agreement
2 As for Anglo – American law, the decision of the judge
is always …
C Unpredictable
3 In settlement by acceptance, what will the bank do
after receiving the documents and draft drawn on the buyer
from the seller?
D The bank agrees to pay the bill when it matures
4 Which of these does not count as a defect?
B Misuse
5 Defects include:
B Materials
6 The advantages of arbitration are:
B Private and foreseeable costs
7 Independent inspection reports on …
C Implied warranties
11 Which of the following is NOT the method of issuing
the letter of credit?
C Buyer instructs an issuing bank to instruct a confirming
bank to pay under a LC in favor of the seller
14 In negociating a LC, the step in which the exporter checks the credit to see that required documentation is as agreed is …
C The clause lacks all the necessary five steps in negociating payment like payment mode, time, place, delay and results of delay
21 The point of delivery is much the same for all …
terms and … terms – when the exporter hands the goods over
to the carrier A C and F
22 Inspection of the goods by the buyer in the manufacturer’s factory is reffered to as :
B Pre- delivery inspection
23 In international trade, if payment is made on delivery,
the method of payment to be choosen will be …
D At sight letter of credit
24 “Minimum Coverage” is the so-called Cargo Clause
…
C C
25 Note : If either party is prevented from, or delayed in,
performing any duty under this Contract by an event beyond his
reasonable control, then this event shall be deemed force
majeure)
A lockout (background : The workers have been striking for
one day a week The management locks the workers out of
factory until they agree to end the strike)
C No
26 Elderly people are … to deal with a contract
B Able
27 How to make a bill of lading negotiable?
D Fill the word “ to order” in the Consignee box
28 In negotiating a letter of credit, the step in which the buyer applies for the letter of credit specifying the agreed documentation is …
D None
Trang 1529 If either party is prevented from, or delayed in,
performing any duty under this Contract by an event beyond his
reasonable control, then this event shall be deemed force
majeure)
Shortage of supplies (Background: the exporter cannot get the
raw jute he needs from the supplier because of a shipping
delay) A Yes
30 The disadvantage of ……… Policy is that it is set up forr particular time and automatically expires
FLOATING
32 The main difference between continental and Anglo American contract law is the degree of …
-A Codification
33 A bank guarantee which gives the exporter an acceptable
level of security in terms of payment shall be paid by ……
A The buyer
Câu 34 : When the bill of lading marked “freight prepaid”.Who pays for the freight?
B The seller
Câu 35 : A contract requiring an exporter in Ethiopia to send
the contract goods by air for delivery in Windhoek, Nambia
B CIP Windhoek
Câu 36 : Inspection by carrier on dispatch is often caried out:
A In seller’s country
Câu 37 : Where is often the place of expiry of the credit ?
C At the counters of the confirming bank
Câu 38: Anglo-American law is also called …
C Common law
Câu 39 : A contract requiring the exporter to send the contract
goods by road from Kenya to Zambia with freight paid by
exporter B CPT Lusaka
Câu 40 : Feeble-minded people are legally unable to …
Contracts A Sign
Câu 41: It is possible for the beneficiary (exporter) sometimes,
though not often, to make a draft to the bank to collect the
money ? D Yes, it is
Câu 42: The first step in negotiating a letter of credit is …
C Agreement
Câu 43: If a country ratifies the Vienna Sales Convention, in the
event of conflicts, the Vienna Sales Convention can
……… the national law A Prevail over
Câu 44: If the force majeure event continues for too long, both parties have the right to ……
B Terminate the contract
Câu 45: The bill of lading issued by the carrier for air transport
is called …… A Air waybill
Câu 46 : Two parties sign a contract
A The contract is binding
Câu 47: It is common to put the definition clause ……… Of
the contract B Near the beginning
Câu 48 : In a contract under Continental law, a recital …
D Funds reach the seller’s bank account and at his full disposal
ĐỀ 13
1 In settlement by deferred payment, if the seller needs money
immediately, what can he do?
B He can exchange the letter or credit for card with any
agreeable bank
2 The disadvantage of ……… policy is that it is set up for particular time and automatically expires
FLOATING
3 Inspection by the buyer is called
C Open package inspection
4 As for Anglo - American law, the dicision of the judge is always ………
C Unpredictable
5 The court of arbitration applies whatever …… the parties
stipulate in the contract
C National law
6 When parties agree to end a contract, …… occurs
C Rescission
7 In CIF and CPF contract, … must pay for insurance from the
point of delivery to the named point of arrival
C Return the goods and refund the price
11 Allowing the buyer to repair the equipment at the exporter’s
cost …………
D Is offen unsafe for the exporter
12 What does prompt payment of the letter of the credits depend on?
A It depends on the presentation of the correct documentation of the exporter
13 The entire agreement provision means …… must be
established within the contract itself
A The background of the contract
14 Which type of payment is the most advantageous for the exporter?
A Credit by sight payment
15 Why can a manufacturer sometimes accept a loss on an
export deal?
D Any of the above
16 The essence of Continental law is ………
D Compliance
Trang 1619 A contract is not enforceable if ………
C It has an illegal purpose
20 Defects such as wrong items, broken or missing parts, scratches, and so on are called……
A Patent defects
21 If the price is quoted FAS Osaka, who pays for the freight?
D The buyer
22 In a contract, consideration may consist of………
D Right, interest, profit, detriment and loss
23 The things that the exporter should keep in mind in
negotiating payment are …………
A Payment mode, timing, place, delay and results of delay
24 A marine bill of lading can be negotiable document with which …………
A.The buyer can use it to resell the goods during shipment
25 The ……… has not power to enforce his
solution or to blind the parties, his task is to suggest a fair
A A well-designed set of specifications
28 Which of these does not count as a defect?
A FAS Beira
31 The advising bank never pays the exporter directly Right or
wrong ?
C It depends on the type of credit
32 There are …… parties to a warranty and ………in a guarantee
C No, it could’t
35 “ Export credits insurance is a kind of special privilege the
an exporter may get from government’s export and support
of the designated vassel by the buyer
39 “Nuts and bolts are inadequately tightened” represents :
A When the goods are At the buyer’s premiss
42 The lump-sum compensation is set too high…………
D Any of the above
45 In negotiating a letter of credit, the step in which the
exporter checks the credit to see the required documentation is
as agreed is ………
C Verification
46 What is a transferable credit?
B It is the kind of credit which allows the first beneficiary
to request the confirming bank to pay a third party
47 Where is often the place of expiry of the credit?
C At the counter of the confirming bank
48 All risks covered is under…………clause
A A
49 Different legal systems regulate the rejection of delivered
goods must be total ……….can be partial
1 In how many originals and copies is the air waybill issued
according to the standard of the International Air Transport
Association – IATA?
C Three originals and nine copies
2 What kind of inspection is particularly important for sophisticated items or capital goods?
C Pre-delivery inspection
3 With a well-designed set of specifications, the seller can
protect its and avoid costs
Trang 175 What happens first when a bank refuses to pay under a letter
of credit
A The bank will cite a ‘discrepancy’, some aspect of the
documentation that is not in line with the terms of the
credit
6 Defects that come to light after buyer’s acceptance are called……
B latent defects
7 The Disclaimer of warranty means:
B the buyer is denied of some of his normal rights
8 When an offer is made, it is not applicable when it has… ?
C Revocation
9 A term or terms in a contract could raise the contract price
D A longer warranty period
10 The first step in negotiating a letter of credit is………
C Agreement
11 Which type of paym ent is the most advantageous for the
exporter?
A Credit by sight payment
12 What happens if the issuing bank finds a problem with the documents and refuses to send funds to the advising bank to cover payment?
C The payments from the advising bank to the exporter are always made with recourse The exporter has to pay back the advising bank in such a case
13 In settlement by deferred payment, if the seller needs
money immediately, what can he do
B He can exchange the letter of credit for cash with any
agreeable bank
14 A unilateral offer can be defined as
B An offer made of a promise in return for an act
15 If the price is quoted FAS Osaka, who pays for the freight?
D The buyer
16 The place of delivery (CIP, CIF) should not be confused with the……of the goods
B destination
17 Many export contracts cannot come into force due to…
A certain preconditions are not met
18 If a contract is the entire agreement, earlier letters and documents………
B become invalid
19 A letter of credit can be either ‘revocable’ or ‘irrevocable’
Few exporters will accept a revocable letter of credit, so the
plan expression ‘letter of credit’ generally means the
irrevocable kind The word ‘irrevocalbe’, therefore, should not
always appear in the text of the credit and of the contract Right
or wrong?
B Wrong, because it should always appear in the text of
the credit and of the contract according to the ICC’s rules
20 In a performance guarantee, if the seller works badly or not
at all, the guarantor will pay the buyer, within stated limits,………
B the costs of the principal’s failure to perform
21 Beside the commercial invoice, the transport document and
insurance document, what do ‘Other documents’ include?
D Any of the above
22 Which country requires that all goods imported into the country are inspected by the SGS immediately before shipment?
C Indonesia
23 If shipment is under Incoterms other than CIF or CIP,…
D The exporter pays for insurances till the port of dischare
24 Continental law is also called…
D Any of the above
27 The exporter’s right to ‘cure’ any defects in his delivery
in……
B advantageous to him
28 The bank notifying the exporter that the letter of credit has been opened is called……
B The advising bank
29 In negotiating a letter of credit, the step in which the
exporter rigorously checks documentation and submits i t to the
31 If the buyer can make certain assumptions about goods –
even if the exporter gives no express warranty, these
assumptions are called……
D implied warranties
32 Transfer of risk from the seller to the buyer (Incoterm 2000) CFR
C When the goods across the ship’s rail
33 The bill of lading issued by the carrier for combined
transport is called…
D Combined transport bill of lading
34 Transfer of risk from the seller to the buyer (Incoterm 2000) DDU
A When the goods are at the seller’s premises
35 A payment guarantee simply commits the bank to pay if the
buyer defaults The payment guarantee is usually for…….of the
contract price
A 100%
36 Partial invalidity clause can help to avoid problems with contracts that……
A might infringe government regulations
37 The contract should regulate what happens if Incorterm
2000 and the terms of the contract conflict: normally
the…… prevails
B Contract
38 The clause covers General Average
C A, B, C
39 The entire agreement clause means that all documents that
predate the contract……
43 A contract is not enforceable if………
C if has an illegal purchase
44 ……Bill of lading – found something wrong with the consignment
C claused
Trang 1845 Delivery of the goods under most contracts takes place in
the country of…
D any of the above
48 ‘A radio lacks the wired connecting the loudspeaker to the amplifier’ is an example of
C Detective workmanship
49 The answer to background questions are written…
A through the whereas recital
50 Which of the following is left to the applicable law to regulate?
C The legal action period
ĐỀ 15
1 Under the public law ,a company can only sign a
contract _
D That is within its power
2 In international contract ,parties try to exclude assignment of rights without
B Written consent of parties
3 When the export fills in the letter of credit application
form ,if the box “ requested” for the “Confirmation of credit to
the beneficiary “ is ticked ,what does it mean ?
B It means the exporter wants the bank in his country
make payment itself and recover the funds from the
buyer’s bank
4 _ discharge a contract when one party faces
an excessive burden in complying with contract
B Frustration and impossibility
5 The force majeure clause suggested by the
International Chamber of Commerce ,for example ,states that
payment of interest on overdue sums payable to the seller is
_ by _
B Not excused/ force majeure
6 To avoid the dangers of slow payment ,exporters try
to protect themselves with a clause like this :” payment s hall
be deemed to have been made only when ”
D Funds reach the seller’s bank account and at his full disposal
7 Whereas -clause
D Are not provisions, promises or conditions
8 The things that exporter should keep in mind in negotiating payment are
Payment mode ,timing, place, delay and results of delay
9 In a confirmed letter of credit ,what happens if the
bank pays exporter and the issuing bank finds something
wrong with the documents?
D The confirming bank has paid the money to the exporter and
has no way of recovering it The confirming bank must pay the
exporter without resource
10 The risk of rough handling is not covered under the cargo clause
B Does not invalidate the rest
13 The has no power to enforce his solution or
to bind the parties, his task is to suggest a fair solution only
B Conciliator
14 A contract requiring the exporter to send the contract the goods by road from Kenya to Zambia with freight paid by the exporter
B CPT Lusaka
15 To make sure that the officer signing the contract has
authority to sign the contract ,parties should check
B The authenticity of signature
16 The answers to the questions of implied warranties are supplied by
C Most laws
17 In order to produce perfect products ,manufactures
need to have
B Quality assurance program
18 Which of the following examples is a latent defect?
B Structural weaknesses
19 Inspection of the goods by the buyer in the
manufacturer’s factory is referred to as :
A When the goods are at frontier
23 When there are words like “ about” or “ approximately”
in the letter of credit ‘s amount ,how much can the actual
payment be?
A The actual payment therefore can be 10% more or
10% less than the stated amount
24 An offer is not always ,in international practice ,the first move in forming a
25 Among a number of international bodies offering
arbitration services ,the in Paris is the most prestigious
C ICC
26 Who issues ocean bill of lading?
C Shipping company
27 If shipment is made on CIF or CIP terms ,the letter of
credit will call for
D Either A or C
28 Why do most exporters offer a discount for early payment ,for example a 1% discount if payment is made within 10 days of the date of invoice?
C Because the exporter can substantially improves his cash flow
29 What happens first when a bank refuses to pay under
a letter of credit?
A The bank will cite a “discrepancy “,some aspect of the
documentation that is not in line with the terms of the
credit
30 The costs of L/C amendments are normally for
D The one who asks for such amendments
31 The workforce at the factory go on strike
B Questionable
32 When the goods arrive ,if they are _,the importer can reject them but if they specifications ,he is obliged to accept them
A Defective/conform to