Professional Documents
Culture Documents
Institute of Bankers of Sri Lanka: Diploma in Applied Banking and Finance (DABF)
Institute of Bankers of Sri Lanka: Diploma in Applied Banking and Finance (DABF)
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importers bank, East Bank. East Bank contacts the importer and
requests payment. How many Collecting Banks are there?
a. one
b. two
c. Three
d. None
a. Cash in advance
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6 West Bank has received a collection from South Bank, one of
its overseas correspondent banks, for presentation to one of
its customers. For whom is West Bank acting in this
transaction?
a. For its own customer.
b. For South Bank
c. For the exporter of the goods
d. Above B and C
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9 Colombo Ports Authority is inviting various contractors for
constructing their new terminal. The project will be awarded to
only one of the contractors. What type of a bond is called from
the contractors?
a. Performance Bond
b. Bid Bond
c. Advance Payment Bond
d. Retention Bond
10 The Key Group has asked their bankers ABC Bank to issue a
performance bond in favour of their customer Dubai Ports
Authority. Who is the Principal of this transaction?
a. Key Group
b. Dubai Ports Authority
c. ABC Bank
b. None
a. The time interval between issue of a letter of credit and the latest
date when documents can be presented.
b. The time interval between the latest date of shipment and the latest
date when the documents can be presented.
c. The time interval between the actual date of shipment and the
latest date when the documents can be presented.
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d. All the signed originals and all the copies
a. Only (i)
b. (i) and (iii)
c. Only (iii)
d. Any of them
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the goods have to be purchased from India so that he can on
deliver without any processing by him which of the following
terms is likely to help meet the requirement.
a. FOB Mumbai delivery 10th March 2012
b. CIF Hong Kong delivery 5th March 2012
c. DAT Mumbai delivery 5th March 2012
d. FCA Mumbai delivery 28th April 2012
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23 If there is a tenor draft
a. The term for delivery must be DA any instructions to the contrary
will be ignored
b. The term for delivery must be DP
c. DP or DA depends on whether the documents include shipping
documents.
d. If instructions are silent DP will be presumed.
a. 3 months
b. 01 year
c. 06 years
d. for ever
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27. A DC calls for presentation of an Insurance Certificate. Which of
the following Insurance documents would be acceptable for CIF
shipment where the invoice value is USD 75,000?
a. 1 and 2 only
b. 1 and 4 only
c. 2 and 3 only
d. 3 and 4 only
28. Which party has the MOST responsibility to examine the terms
and conditions of a Documentary Credit against the sales agreement?
a. Applicant
b. Beneficiary
c. Issuing Bank
d. Confirming Bank
a. Traveller's Cheques
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b. Documentary Credit
30. What Are The Main Requirements Of The Beneficiary Has To Meet To
Obtain Payment Under Documentary Credits.
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Bank 'A' Is Not Prepared To Add Their Confirmation To The
Documentary Credit. Which of The Following Should Be Bank
A's Action.
35. Bank C Gets A Credit From Bank X For USD 100,000/- On 01st
Feb 2001. On 05th Feb 2001 Bank C Gets An Amendment
Increasing The Value Upto USD 150,000/-. Beneficiary Does Not
Communicate His Acceptance Or Rejection. On 20th February He
will Present A Set Of Documents For USD 150,000/-.(All
Documents Required Under The Credit Presented And All Terms
And Conditions Are Complied)
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