International Settlement Test__ 1


International Settlement Test 1

学号___________ 姓名___________ 成绩_________________ I. . Decide whether the following statements are true or false. (20%)

1. When a check is crossed, it can be pay into a bank account and be cashed over the counter. ( )

2. If a credit is issued by telegraph, it ought to be authenticated by specimen of authorized signatures.( )

3. When discounting, a time bill should already be accepted and not yet fallen due.

( )

4. From Bank of America New York’s view, a vostro account is a dollar account held for its overseas correspondents. ( )

5.Nostro account is an account held by a bank on behalf of a correspondent bank.( )

6.The authorized signatures are used for the authentication of the messages, letters, remittances, letter of credit, ect., addressed by the bank to its correspondent bank.( )

7.If the reimbursement says: “ In cover, we have credited the sum to your account with us.” That means the balance of “Your account” increased. ( )

8. When selecting the contract currency, the importer prefers soft currency.( )

9. A promissory note is an unconditional order in writing. ( )

10.A bill shows : Pay to ABC Co. providing the goods in compliance with contract No. 123 the sum of one thousand US dollars. It is acceptable. ( )

11.A bill shows: Pay to ABC Co. out of proceeds of sale of woolen blankets the sum of one thousand US dollars. It is unacceptable. ( )

12. Drawer in a bill of exchange is always the prime liability. ( )

13.If a bill is payable “ at 30 days after date” , the date of payment is decided according to the date of acceptance. ( )

14. A bill payable “ at 90 days sight” is a sight bill. ( )

15. A sight bill should be presented for acceptance. ( )

16. An endorser of a bill is liable on it to subsequent endorsers and holders of the bill.

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