1. Which of the following statements are true about documentary credit_____? (ABCD)
A. documentary credit means payment against document instead of against goods
B. all the documentary credits are operated through banks
C. the buyers is not required to pay for the goods until the arrival of the relevant shipping documents
D. the documents transfer title to the goods
2. Which of the following documents can be issued by a carrier _____? (ABD)
A. bill of lading
B. mate’s receipt
C. booking note
D. delivery order
3. The banks on the buyer’s side on L/C arrangement are____. (AD)
A. issuing bank
B. advising bank
C. negotiating bank
D. paying bank
4. Which of the following descriptions are true about NVOCC_____? (ACD)
A. he operates a regular scheduled service
B. he owns or operates the vessel
C. he provides a useful service by providing groupage or consolidation services
D. he assumes double roles relationship with carrier and shipper
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