SCF Quizzie Volume 1

what are two types of TRADE?

• Domestic Trade

• Interstellar Trade

• Underground Trade

• International Trade

Which one of these Does Not come under Risks in international trade ?

• Cultural Risk

• Country risk

• Exchange risk

• Commercial risk

Typical Risks for Exporter?

• Distance

• Credit worthiness of buyer

• Disputes

• Restrictions imposed by

  governments

Open Account and

Advance Payment are Methods of Payment

• True

• False

Open Account

Step 1-Seller ships goods to buyer

Step 2-Buyer Pays for the goods

• True

• False

Under which Payment Method the following steps are involved ?

Step 1 : Seller ships goods to buyer

Step 2: Buyer Pays for the goods

• Open

  Account

• Letter of

  Credit

• Collections

• Advance

  Payment

Which payment method Involves HIGH RISK for importer?

• Our own Method

• Open

  Account

• Advance Payment

Parties of Documentary collection are ?

• Yes Bank

• Remitting bank

• Bank Of Baroda

• Collecting bank

Please categorise the below method of payments from higher risk to a lower risk for Importer.

A. Advance payment

B. Collections

C. Open account

D. Letter of Credit

E. Confirmed letter of credit

• A,D,C,B,E

• W,X,Y,Z

• D,B,C,E,F

• A,E,D,B,C

What is the full form of Swift?

• Society for Worldwide Interbank Financial Telecommunication

• Society for Worldwide International

  Temple

• Society for Worldwide Interfinancial telecommunication

• Society for Worldwide Interbanking Financial Telegram