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Revision as of 05:09, 9 April 2009
Assessment
1. The changes in technology have required international businesses organizations to
- a. rely solely on internet communications.
- b. maintain requirements for hard copies only.
- c. watch and observe the changes from the sidelines.
- d. adapt their guidelines to internet communications.
2. The eUCP provides banks with guidelines to
- a. use electronic Incoterms for international transactions.
- b. electronically communicate and transmit documents for documentary collections.
- c. electronically communicate common business practices.
- d. use electronic methods of payment for international transactions.
3. When issuing documents for a letter of credit, freight forwarders must ensure they
- a. comply perfectly with the letter of credit.
- b. arrive at the bank immediately.
- c. arrive at the buyer’s office immediately.
- d. comply with the wishes of the seller.
4. The standard messaging system used by banks around the world is known as
- a. EBanking.
- b. ESystem.
- c. SWIFT.
- d. SWEAT.
(Correct answers: 1=d, 2=b, 3=a, 4=c)