International payment 2

1- Company A is having JPY and A needs to buy EUR. The bank B announced the exchange rate (30/3) as follow USD/JPY = 107,34/78 and EUR/USD = 1,2828/48. A will buy EUR at the exchange rate of:

• EUR/ JPY = 107,34 x 1,2848
• EUR/ JPY = 107,78 x 1,2826
• EUR/ JPY = 107,34 x 1,2828
• EUR/ JPY = 107,78 x 1,2848

2- A document credit is opened at the request of

• Beneficiary
• Exporter
• Importer
• Drawer

In documentary credit, who is the drawee of bill of exchange

• The seller
• The buyer
• Advising Bank
• Issuing Bank

Who will benefit from a weakening of the VND against USD

• Vietnamese tourist
• Vietnamese importer
• Vietnamese Customer
• US Investors

Under the law for negotiable instruments of VN 2005. Which of these following statements as the amount of B/E is WRONG?

• This amount can be expressed only in words or only in figures
• If the amount of B/E is expressed more than in figures, and there is a discrepancy, the smaller one is the amount payable
• If the amount of B/E is expressed both in figures and words and there is a discrepancy, the amount in word is the amount payable
• The amount of B/E must be certain sum of money

A cheque must be

• Signed by the person who draws the cheque
• An unconditional request to pay a determinate sum of money
• An unconditional order to pay a determinate sum of money
• A and C

With…a trader attemps to purchase a foreign currency at a low price and at a later resells it all a higher price

• Swap
• Forward
• Option
• Arbitrage

In a commercial bill of exchange “blank endorsed” is understood as:

• Endorsement in which only name and signature of the endorser are stated clearly
• Endorsement is which name of the next beneficiary is stated clearly
• Endorsement in which name of the next beneficiary and name of the endorser are stated clearly
• No endorsement

Which is WRONG statement

• The direct quote is a home currency price per unit of a foreign currency
• The indirect quote is a home currency price per unit of a foreign currency
• The indirect quote is a foreign currency price per unit of a home currency
• All of the above

Which type of the following methods of payment, collecting bank release document only when the importer make payment?

• D/A
• D/P
• Usance L/C
• DTC