Mock 03 001 PDF

anboof of Mrabe
Certified Documentary Credit Specialists (CDCS)

Mock Test-3
Length of examination 3 Hours
This mock test paper is a full sample of the type of questions you will encounter in the
actual test paper. This test represents the actual test and should take no longer than 3
hours to complete.
Instructions to Candidates
1. Open this question paper, in-basket and simulation booklets when instructed to
do so.
2. Answer all questions.
3. Use the examination answer sheets provided for your answers. Please do not
note your answers in this booklet, as they will not be recorded.
4. Read the instructions on both sides of the answer sheet carefully.
5. Before you leave the examination room you must hand in all the examination
materials including the answer sheet, the question paper and the in-basket /
simulation booklets and have them checked by the invigilator. Failure to do so
will invalidate your entry.
Information for Candidates
1. This paper consists of two sections: Section A and Section B:

Section A consists of 60 multiple choice questions worth one mark each.
Section B consists of:
10 stand alone analysis questions worth one mark each;
3 in-basket exercises, 5 questions per in-basket, each question worth one
mark; and
3 simulation exercises worth a maximum of five marks each.
Accompanying this question paper is a booklet of supporting in-basket
documentation, referenced to each corresponding set of in-basket questions and
a booklet of three simulation exercises.
2. In the questions in both Section A and Section B you should assume that, unless
otherwise stated, there are no Bank Holidays, and Saturdays and Sundays are
not banking days and all transactions take place in the same year.
3. Unless otherwise stated, all credits referred to in this paper are irrevocable. UCP
600 applies throughout.
4. Basic silent desktop calculators with + - x / % and memory functions are allowed.
Scientific, programmable or calculators with any additional functions are not
allowed.
A qualification jointly examined and awarded by the ifs School of Finance and BAFT-IFSA. Endorsed by the
International Chamber of Commerce.
Queries 01712175979, 01713082412
Mock 3
Answer sheet
Name of the candidate
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2 A 5 A .11r C
3 A TiL 5 A .1191" C S
4 5 A C 419?
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6 A 56 B Vieff
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7 A 57 A G C atEm.
8 A 411Bs. 58 A 8 OP' D
9 A +et 59 A Vil
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10 A 13 Loa 60 C D
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11 A Stand alone questions
12 A let 61 6) 431 C D
13 A 6 A 6) C XV
14 A 6 A B C War
15 A 8 6 AA& 0 c D
16 A 11811, 65 ..iir 0 C D '''....
17 A 66 A afr.• C D
18 A 67 A 06.A. 0 D 5-
19 A we 68 A gee C D
20 FOB 69 atot B C D
21 A 1110 70 A 8 .....es. D
22 A In Basket 1
23 A 491
1 71 A .412 C D
24 A 72 A AtIr" C 0
25 411*. 73 A B C ...re` 3
26 A ABE. 74 A B C -.43-
27 A 75 0 —a. C D
28 A 8 410 In Basket 2
29 A 76 A '4e* C D
30 A set 77 A B • D
31 =Mr 78 A "le C D
32 A 79 A B C •-'4W
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33 A wee 80 M B C Fee"-
34 A In Basket 3
35 A 81 -or a C D
36 A 4IFF- 82 A B assig. D
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37 aft. 83 A III" C (13)
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38 A 84 A nor -C 0
39 1EF- 85 A -B- 41.0. D
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41 A Jac
42 A 21,
43 -44s 8 Simulation 1
44 A 3 4 6 astir. 9
45 A melt
46 A Simulation 2
47 A Is& 1 ( Wir ( ( 10
48 A we
49 Simulation 3
50 A 3 8
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Supporting COOS and ICC Certifications
15 Which of the following transport documents is not appropriate for any transport by sea?
A. Multimodal transport document

B. Bill of lading
C. Charter party bill of lading
Forwarder's certificate of shipment
16 Which of the following documents can not convey the title to the goods?
1 Non-negotiable sea waybill

2 Bill of lading
3 CMR note
4 Charter party bill of lading
A. 1 Only
vEC1 & 3 Only
C. 1, 3 & 4 Only
D. 2 & 4 Only
17 If a nominated bank is closed on the expiry date of a documentary credit, what action must the
presenter of the documents take to prevent the expiration of the credit?
A. Present the documents within the preceding banking day before the expiry date
B. Renegotiate the documentary credit with a new expiry date
Nee—Present the documents on the first banking day after the expiry date
D. Notify the applicant that it cannot present in time
18 What is the type of bill of lading that is not acceptable under UCP, unless specifically required or
permitted by the documentary credit?
A. Liner bill of lading

B. Through bill of lading
CzMarine bill of lading
NO Charter party bill of lading
19 Which of the following is NOT acceptable as proof of insurance?
1 Advice of insurance
2 Broker's note.
3 Cover note
(")
4 Insurance policy
A. 1 Only
& 2 Only
.4`. 1, 2 & 3 Only
D. 1 & 4 Only
20 Under which type of average do all interested parties bear a share of a loss at sea?
AxParticular average
A.A. General average
C. Both A & B
D. None of A & B
Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 3/17

---giliToTTICTErabe
Supporting CDCS and ICC Certifications
21 If a draft is negotiable, which of the following does NOT apply?
A.yull and legal title passes upon delivery

\K The face value of the draft can be changed by negotiation between applicant and beneficiary
C. Transfer is made by delivery or endorsement and delivery
D. None of the above
22 Which one of the following is NOT a commercial document?
A. Packing list
B. Invoice
C. Weight list
\X'Bill of exchange.
23 How can an applicant of a documentary credit ensure that it will only have to pay if the correct
goods of the agreed standard are delivered?
A. If they ask for all documents together

B. If they ask for a certificate of origin
C. If they ask for an inspection certificate
4,-X-rf they ask for quality and quantity certificate meeting agreed standard issued by
an approved authority
24 If an usance draft is presented under a documentary credit, which of the following is not considered
when determining the maturity date?
A. The tenor of the draft

B. The drawee
p( The face value of the draft
D. Whether the presentation is clean or discrepant
25 When an issuing bank decides to refuse documents due to discrepancies under a documentary
credit subject to UCP 600, which of the following actions is NOT required to be taken ?
NiContact the applicant and see whether the applicant will grant waiver of the discrepancies
B. Notify the presenter of the documents of every discrepancy on which the refusal is based
C. Notify the presenter either that they are holding the documents at the disposal of the
presenter or that they are returning them
D. Send notice of refusal to the presenter upon deciding to refuse the documents
26 An issuing bank has sent an MT734 message to a nominated bank advising discrepancies and
indicating that the documents are being held pending further instructions of the nominated
bank. One week after sending this message, the issuing bank is still waiting to hear from the
nominated bank and therefore decides to return the documents.
This particular course of action by the issuing bank is ...
A. Not allowed by UCP600 art 16

B. Not acceptable as the refusal notice indicated that the documents were being held pending
further instructions of the nominated bank
• Not disallowed in UCP600
D. Not a good banking move as per UCP600

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MOCK-3, SECTION A
1 What is the method of availability of a credit where the amount is available with the
nominated bank on the basis of draft to be drawn on the nominated bank at 60 days sight
A. By Payment
By Acceptance
\)3
C, By Deferred Payment
D. By Negotiation
What triggers settlement under a documentary credit
A. evidence of shipment of the goods;

B. letter of introduction
C. handing over of the documents to an applicant;
\Kpresentation of complying documents by the beneficiary
3 Which one of the following is not a party under a DC
A. The Confirming Bank

B. The Beneficiary
\SZ(The Applicant
D. The Issuing Bank
4 Name the main purpose of a documentary credit.
NKTo undertake payment to a beneficiary.

B. To give shipping instructions to a beneficiary.
C. To eliminate risk in performance under the purchase or sales contract
D. To ensure the applicant receives transport documents.
5 Which of the following settlement types are associated with the definition of 'honour'?
1 Payment.
2 Acceptance
3 Deferred payment
4 Negotiation
A. 1,3&4
vig: 1,2 &3
C. 1,2&4
D. 2,3&4
6 Your customer is an exporter. Which payment term exposes it to least risk?
A. Open account
B. Documentary credit
.Payment in advance
D. Documentary collection
7 Incoterm CIF means
A. carriage, insurance and freight

\Xtost, insurance and freight
C. cost including freight
D. charges, insurance and freight
1/17
Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail corn
MI I
00001 Ot vratn
8 Your customer imports goods worth £100,000 per annum from the same suppliers in January each
year. Instead of buying all goods in January they would like to import goods on a monthly basis.
They would like to know if this is possible under a documentary credit. Can you suggest what type
of documentary credit will suit the requirement?
A. Revocable letter of credit

B. Transferable letter of credit
C. Clean letter of credit
V a7 Revolving letter of credit
9 Which type of documentary credit provides a preshipment facility to the beneficiary?
A. Irrevocable credit
B.5.onfirmed credit
Red clause credit
D. Revolving credit
10 Which type of documentary credit will assist beneficiary to overcome the risk of default by an
issuing bank?
• A. Standby credit
B. Irrevocable credit
veConfirmed credit
D. Revolving credit
11 Under which of the following circumstances, it is not necessary for an advising bank to take further
action to check the apparent authenticity of a documentary credit?
A. If the documentary credit is received on paper

.41(17the documentary credit is received via SWIFT in MT700
C. If the documentary credit is received by fax
D. If the documentary credit is received by email
12 Which of these is not a risk faced by a beneficiary in a documentary credit?
A. Failure of the issuing bank

vErFailure of the applicant to pay
C. Failure of the beneficiary to prepare compliant documents
D. Failure of the issuer, in the event that the documentary credit is issued by a non-bank
13 An advising bank willing to act is least responsible for which of the following?
A. Ensuring that the credit or amendment is genuine

B. Honour or negotiate if a complying presentation is made
\O.Insuring that the credit or amendment is apparently authentic
D. Requesting any amendments of the issuing bank on behalf of the beneficiary
14 Which type of document identifies the goods in the documentary credit?
A. Legal documents
B. Financial documents
Ng(dommercial documents
D. Official documents

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27 A documentary credit expires in the country of the beneficiary and the advising bank. The advising
bank is named as the nominated bank and the amount of the documentary credit is available to the
beneficiary against presentation of drafts drawn on the issuing bank at 30 days after shipment,
accompanied by specified documents in field 46A.
The documentary credit is avaiable by
A. Acceptance
B. Deferred payment
\G'Negotiation
D. Payment
A documentary credit is issued allowing reimbursement from a third bank and the issuing bank has
duly authorized that bank with necessary particulars. Based on the reimbursement authorization,
what is to be understood?
A. The issuing bank's authorization, once issued, is irrevocable

B. Reimbursing bank will assume that the authorization is irrevocable as it is issued to support
/ the transaction under an irrevocable documentary credit
\,C. Nominated bank, if any, will take it as an advantage on deciding to act as a nominated bank
The authorization becomes revocable when the issuing bank requests the reimbursing bank
to issue a reimbursement undertaking
29 A customer of your bank, who is the beneficiary of a documentary credit available by negotiation
and confirmed by your bank, presents a set of documents to you. The payment is due 90 days
after date of shipment. The beneficiary requests you to advance funds to them. If the documents
meet the requirements of the documentary credit, what kind of negotiation you are in when the credit
does not allow reimbursement from a rembursing bank?
A. Negotiation under reserve

B. Negotiation at sight
C. Negotiation with recourse
Negotiation without recourse
When a documentary credit is made available with a nominated bank by payment, which of the
following reimbursement clauses is NOT appropriate if the nominated bank is also the advising bank?
A. Debit our account held with you

B. Claim reimbursement from ABC Bank, NY
C. We will reimburse you on receipt of complied docs at our counter
\7 We will reimburse you upon receipt of a SWIFT message indicating presentation of
complying documents to you
31 Under a complied presentation, nominated bank, who did not add confirmation, has advanced
beneficiary of the credit available by acceptance requiring drfat at 90 days from shipment date.
On the due date, the issuing bank is not in a position to reimburse the nominated bank
due to insolvency. Based on above, which of the following statements are correct?
1 The nominated has the right to seek recourse from the beneficiary as it had not confirmed
the credit
2 The nominated does not have the right to seek recourse from the beneficiary but still has the
right to seek reimbursement from the issuing bank
A. 1 Only
2 Only
C. 1 & 2 both are correct
D. None of 1 & 2
Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com
5/17
Supporting CDCS ana
32 Which one of the following credit types is specifically referred to in UCP 600?
A. Red-clause.
B. Back-to-back.
Transferable.
D. Revolving.
33 A documentary credit contains the condition that 'Freight Forwarders Multimodal Transport
• Document is not acceptable'. This means:
A. the multimodal transport document must be issued by the carrier;

B. the multimodal transport document must be issued and signed by the carrier;
C. the multimodal transport document must be issued by the carrier but may be signed by a
named agent for or on behalf of the carrier
jfthe multimodal transport document may be issued any party other than a carrier or master
provided that it meets the requirement of respective Article 19 and the clause may be
disregarded
34 Which of the following is NOT itself an indication that a bill of lading is subject to a charter party?
A. Freight payable as per charter party dated ..........[but no date added].

B. Freight payable as per charter party number [but no number added].
NO A bill of lading bearing the heading `Congenbilli.
D. All of the above
A DC is opened to import 1 Million Lbs of Turkmenistan Raw Cotton being port of loading Bandar
Abbas or Dubai. A reimbursement claim, as per LC, with a draft is presented to reimbursing
bank in New York for acceptance of the draft and subsequent reimbursement. Being refused by
the reimbursing bank, the nominated bank claimed payment with LIBOR from the issuing bank
under beneficiary's complied presentation. Bandar Abbas falls in Iran, a sanctioned country.
1 Reimbursing bank can always refuse whether or not there is a sanctioned country involved
in the transaction
2 Issuing bank can refuse payment only when it incorporates the sanction clause in the DC
3 Issuing bank can still refuse payment whether or not it incorporated sanction clause in the DC
4 Nominated bank will not be reimbursed if issuing bank cannot pay due to sanction but
nominated bank may get recourse from the beneficiary if it did not add confirmation to the DC
A. 1,2 &3
3&4
C. 2,3&4
D. All of the above
36 After paying the beneficiary, the confirming bank realized that the documents that are forwarded to
the issuing bank are discrepant. The issuing bank has notified the confirming bank of the
discrepancies on Monday 10th March after receiving the documents on 1 March.
Which of the following statements regarding confirming bank is appropriate?
1 Can recover from the beneficiary
2 Cannot recover from the beneficiary
3 Can recover from the issuing bank
4 Cannot recover from the issuing bank
A. 1 & 2 Only
3 Only
C. 3 & 4 Only
D. 4 & 1 Only

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37 441giciary has submitted documents for USD60,000.00 under a credit of about USD50,000.00
rThe nominated bank has negotiated documents without draft and has presented the full set to the
/issuing bank for payment of USD45,000.00 with intimation of the negotiation.
Which of the following is perfect for the issuing bank?
1 Cannot but to accept the documents if otherwise comply

2 May refuse the documents even if docs otherwise comply
3 Not bound to accept if nominated bank did not act on it's nomination
4 May return the documents even if docs otherwise comply
A. 1 & 2 Only
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B. & 3 Only
Only
D. 3 & 4 Only
An advising, nominated and confirming bank under a transferrable credit has received a request
for transfer but denied due to previous misdealing of the proposed second beneficiary. Beneficiary
then wanted the issuing bank to do the transfer explaining the position of the confirming bank but
the issuing bank had to refuse due to it's internal policy.
Under this case, who can actually refuse the transfer request & what is the maximum time limit?
A. Nominated Bank, at least 5 calender days before the last date of shipment
B. Confirming bank, at least 10 calender days before the last date of shipment
C. Issuing bank, at least a reasonable time before the last date of shipment
Nis. Any of the above entities with no time limit
39 LC requires Beneficiary certificate to be issued on or about the shipment date. A full set of docs
accompanied by a B/L dated 10 July with an on board notation date 12 July is presented.
Which of the following issue dates of the certificate would be acceptable?
1 07July 5 12- + r
2 15 July
3 06July
4 18 July
& 2 Only
B. 2 & 3 Only
C. 3 & 4 Only
D. 4 & 1 Only
40 An LC is issued from country X available with Any Bank in country Y stating expiry 25 Dec in X.
Documents are presented to Bank A in country Y on 20th Dec which are received on 26th Dec
at the counter of the issuing bank. Are the documents discrepant?
ES
B. NO
C. Do not know
D. Expiry place require clarification
41 Who cannot sign on an Air Transport Document?
N/CFreight forwarder
B. Carrier
C. Master
D. Agent of carrier

gPrboot of VI,rarie
Suoportinq CDCS and ICC Certifications
42 LC particulars as below:
Applicant ABC Chemicals, 24 Khilgaon, Dhaka

Beneficiary XYZ Industry, 35 street, Hamilton, Canada
Docs required - Invoice
- Bill of lading consigned to the order of Applicant, notify RM Company, 26
Halishahar, Chittagong
- Beneficiary certificate stating quality of the goods when packed
Which of the following documents are discrepant?
1 In invoice ABC Chemicals, 37 Halishahar, Chittagong & In packing list ABC Chemicals,
24 Khilgaon, Dhaka
2 BL consigned to the order of ABC Chemicals, 24 Khilgaon, Dhaka & notify RM Companyo
20 Halishahar, Chittagong
3 Beneficiary certificate issued by XYZ Industry, Building 40, Road 5, Toronto, Canada
4 BL consigned to ABC Chemicals, 24 Khilgaon, Dhaka & notify RM Company,
26 Halishahar, Chittagong
A. 2 & 3 Only
B. 2 & 4 Only
C. 2 & 1 Only
D. 2 Only
43 An LC is issued by bank B in Bangladsh available with Any Bank in China being Date & place of
expiry 04 Dec Bangladesh. Documents are presented to HSBC, China on 25 Nov and they
forwarded the same on the same day to bank B. Courier service could not deliver the docs to bank
B on 03 Dec as the employee of bank B is on strike. Lastly strike was over on 05 Dec and bank B
received the documents. Which is the most appropriate action of the issuing bank?
A. B is not obligated to honor as the credit is expired

B. B must have to honor as the docs are presented by nominated bank
C. B must have to honor as the docs reached them on time but they did not receive it on strike
44 At the seller's request the buyer has agreed to 50% pre-shipment finance to seller under letter of
credit but the advance is made subject to opening a standby by seller's bank in favor of the buyer.
Seller also wants to safeguard issuance of that standby through obtaining another standby from his
• supplier.
Sequentially name the three credits explained above?
A. Red clause LC, Advance Payment Standby, Performance Standby

B. Red clause LC, Advance Payment Standby, Counter Standby
C. Red clause LC, Advance Payment Standby, Commercial Standby
D. Advance payment standby, Commercial Standby, Counter Standby
45 Which of the following is TRUE
1 Only an unpaid invoice presented is enough under a standby that requires a simple demand
2 Presentation made to issuer's address other than that being instructed - means that the
presentation to be treated as 'never received' and no one can pay
3 An instalment claim missed under a standby ceases that & subsequent instalments
4 Only an invoice presented is enough under a standby that requires packig list and/or invoice
A. 1, 2 & 3 B. 2,3 & 4 C. 1 & 4 D. 4 Only

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46 A credit favoring X requires Draft, Invoice & B/L without indicating issuer.
Which of the following documents presented are acceptable
1 Draft singed by 'Y as agent of X'

2 Invoice signed by 'Z on behalf of X'
3 B/L signed by 'X as agent for the carrier M'
A. 1 & 3 Only
B. 2 Only
C. 2 & 3 Only
D. All of the above
47 Bank C confirmed a credit issued by Bank I which is available with Bank C by draft on issuing
bank on 30 days from the date of negotiation. Bank C did not negotiate due to discrepancies and
forwarded the documents to issuing bank.
At this stage, who determines the maturity date & in what method?
A. Bank C only, from the date of negotiation

e B. Bank C only, from the date of negotiation after discrepancy waiver by Bank I
C. Bank I only, from the date of honor
D. Bank I only, from the date of negotiation after discrepancy waiver by Bank I & finally t-
negotiated by Bank C and maturity to be counted 60 days from the date of that negotiation
48 Bank A received documents from it's listed exporter under a credit issued on 1 March by Bank I
valid for 20 days of issuance available by acceptance with drafts drawn on Bank B at 30 days
from B/L Date. Which of the following statements is TRUE
1 The documents must reach Bank B by 21 March, if documents are to be sent to the
nominated bank
2 The documents must reach Bank I by 20 March, if the documents are directly sent to the
issuing bank
3 If documents are to be sent directly to Bank I, then drafts can be drawn on Bank I
4 If documents are to be sent directly to Bank I, then drafts can be drawn on Bank A
A. 1 & 2
B. 1 &3
C. 2 & 3
D. 2 &4
Which of the following statements is true regarding insurance documents?

/9
Unless otherwise indicated in the credit, banks will accept a insurance certificate
A.
Unless otherwise stipulated in the credit, banks will not accept an insurance document,
B.
which indicates that the cover is subject to a franchise or an excess
If a documentary credit requires a presentation of insurance policy banks will accept a
C.
insurance declaration issued under an open cover policy
An insurance document must show the number of originals issued
D.
50 For shipment under a non-negotiable Sea Waybill goods will be released to the consignee against
A. Original Sea Waybill
B. Proof of identify of consignee
C. Proof of identity of endorsee
D. As per shipper's instruction
9/17
-§kpootot
Your customer, Pots and Pans Corp, has presented documents with the following discrepancy:
All documents describe goods as copper pans I/O copper pants (as indicated in the L/C)
Your customer says that there was a typographical error on the L/C and quite obviously
description of goods should be pans and not pants. Moreover he presents a fax from the
applicant stating that applicant will accept all documents bearing description as pans and
not pants. Customer wants you to negotiate documents. You would...
A. request customer to provide new invoice stating description as 'copper pants' as only the
description of goods on the invoice must correspond strictly with that of the L/C
B. Negotiate documents as applicant's fax is the proof that documents will be accepted
C. Not negotiate, as description of goods is incorrect and therefore the issuing bank has the
right to reject documents
D. Negotiate, because it is quite obvious that the goods cannot be copper pants, so any
reasonable issuing bank will accept that it was a typographical error.
52 An employee of a bank making payment to a beneficiary under a DC should be aware of

1 The extent to which their bank has agreed to act in its role of nominated bank
2 An indemnity has been provided, if the presentation is discrepant
3 Whether the beneficiary has a separate negotiation facility
4 Whether any shipping guarantee have been issued under the credit
A. 1 & 2
B.1&3
C.1,3&4
D.1,2&3
53 Your customer has presented documents under a documentary credit which had the following
terms
Documents required - Certificate of origin issued by chamber of commerce
Documents required - Manually signed commercial invoice
Special condition - All packages to be marked with country of origin — India
Which of the following statements are most appropriate?

A. A separate certificate or an certification on the invoice stating all packages are marked with
country of origin is required
B. Certificate of origin must show all packages are marked with country of origin
C. A separate certificate is not required, if the certificate of origin states all packages are
marked with country of origin
D. Special condition can be ignored
54 Your customer 'Frequent Trading Co' has been trading successfully with a particular buyer
for the last two years. The buyer has a good financial record. Your customer wants to
dispense the use of "documentary credit' due to higher costs and operational issues. Alternatively,
your customer wishes to use 'open account trading' for settlement.
What type of L/C would you suggest your customer to assume his risks in open account.
A. Red Clause f
B. Standby
C. Revolving
D. Installment
Query 01712 175 979, 01713 082 412, Schooloftrade@gmail.corn

10/17
g7,1.1plit ut ‘u/tau
'55 Which are following statement regarding insurance is false?
A. Particular average is borne entirely by the owner or his insurer of the particular property
which is lost or damaged, whether a part of the ship of its cargo
B. General average is incurred in the common interest of the ship and cargo in proportion to
interests ascertained by average adjusters.
C. Jettison is an example of particular average.
56 Your customer 'Worthy Commodities' presents documents under an export letter of credit with the
following clauses
Full set of charter party bills of lading consigned to order of shipper and blank endorsed
and notify applicant
Trade terms - CFR
Which of the following presentations would be most acceptable?
A. An unendorsed charter party bill of lading consigned to order marked freight prepaid
B. A charter party bill of lading consigned 'To Worthy Commodities'.and blank endorsed by them
C. A Charter party bill of lading marked freight payable, consigned to order of shipper and
blank endorsed
D. A Charter party bill marked 'Free out' consigned to order of shipper -'Super Traders' and
blank endorsed by 'Worthy Commodities' on behalf of 'Super Traders'
57 Documents required: full set ocean bill of lading consigned to the order of issuing bank.
Latest Shipment Date: 15 March
Presentation Period: 10 days after shipment
Expiry : 30 March
Documents were presented in 2 lots. First lot were presented on 20 march including all required
original documents including 3/3 original BL showing shipment date 10 march. 2nd Lot were
presented having only non-negotiable copies of BL on 30 march. Documents were refused by the
issuing bank stating "Late Presentation". Is the issuing bank right?
A. YES B. NO
58 Which of the below is not a method of signing on invoice as per UCP600 except
A. -'This is a computer generated invoice, no signature required'
B. -'This document may be verified through URL http://adbcd,comityp/vvft/home/back/techvalley'
C. Signed for MKZ Electronics with no letterhead & the signature line also shows an entity that
states formerly known as beneficiary
D. A label on the invoice changing color showing beneficiary's name & logo
59 An LC requires presentation of an Inspection certificate issued by Good Inspection Co,

Which of the following inspection certificate is NOT acceptable
A. Letter head of 'Good Inspection Co., UK' and signed by 'Fine Tyres, Myanmar' as agent
B. Letter head of 'Bad Inspection Co. (sister concern of Good Inspection Co.)' with stamp without
signature
C. Letter head of 'Good Inspection Co., UK' and signed by 'Good Inspection Co., Japan'
60 Which of the following statements are correct

1 A multimodal bill of lading having an on board notation with no issue date is acceptable
2 Third party document not acceptable means only carrier is authorized to sign on the B/L
3 No discrepancy can be quoted if LC stipulates 'Documents acceptable as presented'
4 A certificate required to be issued by SGS Inspection Co. cannot be signed by it's agent
A. 1 only
B. 1&3
C. 1, 3 &4
D. 2,3 &4
gPcoot of ULraoe
MOCK-3, SECTION B
61 Documents are presented to the issuing bank with a draft drawn on them at 90 days sight. The
documents are received on 15 Oct (wednesday).
The issuing bank examined the documents on 17 Oct and determines that they do not comply.
On 20 Oct, the issuing bank contacts the applicant for a waiver of the discrepancies. The
applicant provides their waiver on 21 Oct and the issuing bank accepted it the same day
What is the latest maturity date issuing bank must inform to the nominated bank?
A. 13 Jan
B. 14 Jan
C. 15 Jan
D. 19 Jan
62 Extract from an LC:

Beneficiary ABC Co., Taiwan
Documents required Certificate of origin issued by manufacturer
Inspection certificate issued by competent authority in the exporting country
The beneficiary presented the following documents:

1 Certificate of origin issued by chamber of commerce mentioning the name of the manufacturer
2 Inspection certificate issued by XYZ Co in China
3 Invoice showing manufacturer as XYZ Co, China c au. rni-re-1
(be
21" -A-13 47r-qr.:A"—
A. Documents 1 & 2 are not acceptable
P eff"
B. Documents 1 & 2 are acceptable -7
C. Document 1 is acceptable but 2 is not D0 rer40:1-g-
D. Document 2 is acceptable but 1 is not t-r-lynn
63 Your beneficiary client received the following amendment

LC amount is decreased from USD100,000 to USD90,000
Inspection certificate is required from SGS instead of Ministry of Agriculture
What options does your client have in terms of document presentation?
A. Reject the amendment in writing, if not, it is assumed that the amendment is acceptable
B. Present documents for USD100,000 and inspection certificate from SGS
C. Present documents for USD90,000 and inspection certificate from Ministry of Agriculture
D. Present documents for USD100,000 and inspection certificate from Ministry of Agriculture
64 Which of the following statements s TRUE
A. If a credit states that shipment is to be affected before the end of Feb but after the end of Jan,
it refers to a period from 01-Feb to 28-Feb (both days inclusive)
B. a credit states that shipment is to be affected after first half of Feb until the beginning of Apr,
If
it refers to a period from 16-Feb to 10-Apr (both days inclusive)
C. If a credit states that shipment is to be affected from the beginning of Feb until the middle of
Mar, it refers to a period from 02-Feb to 21-Mar (both days inclusivek
D. If a credit states that shipment is to be affected after first half of Mar until on or about 15-Apr
it refers to a period from 15-Mar to 20-Apr (both days inclusive)*

g7,14)U1.11 UL i'* $W
65 Which of the following presentations are ACCEPTABLE under a credit that requires an insurance
document for 110% of the value of goods?
1 Gross invoice value GBP150,000, CIF value of goods GBP125,000, Draft value GBP150,000,
Insurance certificate for GBP137,500
2 CIF invoice value GBP100,000, Insurance issued by a broker for GBP110,000
3 Invoice value GBP100,000, Draft value GBP95,000, Insurance certificate for GBP104,500 >t
4 Invoice value GBP50,000, One Insurance policy issued by ABC Insurance Co for GBP30,000
covering 'customary risks' and another insurance policy issued by ABC Insurance Co for
GBP25,000 covering 'usual risks'
A. 1 only
B. 1 & 4
C. 2 & 3
D. 3 & 4
66 Consider the following situations when presentations are made to the transferring bank as below:
lading presented
1 Draft and invoice substituted by the 1st benesficiary are cmpliaTA
,
by the 2nd beneficiary is discrepant (..77 04' Cf*P D
2 Documents presented by 2nd beneficiary are compliant, but invoice substituted by 1st
P
beneficiary is discrepant .2.7." vr.11-34 e.'•41/ `•rk—V2t
fr
Which of the following statements is TRUE

A. In situation 1, only first beneficiary gets paid
B. In situation 1 & 2, the first beneficiary does not get paid while the second beneficiary gets
paid in situation 2 only
C. In both situations, nobody gets paid.
4
D. In situation 1, second beneficiary gets paid but first beneficiary does not get paid
g Extract from an LC issued by Bank I available with Bank N

Qty 80,000 cartons, unit price USD 4 per carton
Amt USD320,000
Partial shpt allowed
Bank N transferred the LC to two second beneficiaries
Second beneficiary X Second beneficiary Y
30,000 cartons 50,000 cartons
Qty
USD3.5 per carton USD3.5 per carton
Unit price
USD105,000 USD175,000
Amount
Bank I issued an amendment as follows

Amount reduced to USD240,000
Unit price reduced to USD 3 per carton
Bank N advised the amendment to both the beneficiaries reducing the unit price from USD3.50 to
USD2.50 per carton. This amendment was accepted by X but rejected by Y.
Which of the following statements is TRUE?
A. Amendment will not apply to both X & Y

The first beneficiary will be able to present compliant documents under the credit even though
B.
second beneficiary Y has rejected the amendment
The first beneficiary should reject this amendment as he may not be able to present
C.
compliant documents under the credit
The first beneficiary must accept this amendment, as second beneficiary X has accepted
D.
this amendment
13/17
tbo pi ot zraur

Partial shpt Not Allowed
Goods 10,000 MT of sugar - EUR 950,000
Freight Charges - EUR 50,000 •
Total CFR - EUR 1,000,000 _
Which of the following documents evidencing shipment by beneficiary is acceptable?
1 9,500 MT of Sugar for EUR 925,000 and Freight EUR 50,000 - Total EUR 975,000
2 9,500 MT of Sugar for EUR 900,000 and Freight EUR 45,000 - Total EUR 945,000
3 10,200 MT of Sugar for EUR 915,000 and Freight EUR 35,000 - Total EUR 950,000-
4 10,500 MT of Sugar for EUR 997,500 and Freight EUR 52,000 - Total EUR 1,050,000
A. 1&2
B. 1 & 3
C. 2 & 3
D. 3 & 4
Issue date 01-Mar-xxxx available for 6 months

Revolutions Cumulative basis twice every month i.e. on the 15th & the last day of each
month but LC will not revolve on the last day of August
Amount Approximately USD 10,000
The following drawings were made under the LC:

M tYrrg--
10-Mar-xxxx USD9,700
05-Apr-xxxx USD3,800 #1,7‘
15-May-xxxx USD22,500
08-Jun-xxxx USD6,200-
Z142. # te
12-Jun-xxxx USD12,000
25-Jun-xxxx USD5,000- Vg-j./ el
28-Aug-xxxx USD3,600 101.4..tj
What is the maximum amount that the beneficiary can draw on 31-Aug-xxxx?
A. USD69,200
B. USD57,200
C. USD6,400
D. USD7,400
70 Documents for GBP78,000 are presented as a full drawing of a transferred credit and include an
an insurance certificate. The original credit value is GBP112,000 and requires presentation of an
insuranc certificate but is silent as to the percentage of insurance cover required.
What percentage of insurance value over the second beneficiary's invoices should have been
requested at the time of transfer?
A. 43.59%
B. 48.25%
C. 57.95% t
D. 64.87%

UI. v.ti tw
[ For questions 71 to 75, please refer to In-Basket 1]
71 Which of the below invoices is acceptable under the credit

A. USD 505,000 Grade A - 285 MTs, Grade B -210 MTs
B. USD 500,000 Grade A - 285 MTs, Grade B - 190 MTs
C. USD 470,000 Grade A - 300 MTs, Grade B - 200 MTs
D. USD 485,000 Grade A - 270 MTs, Grade B - 220 MTs
72 There are two B/Ls presented showing following details

Port of Port of On board
loading discharge Notation
B/L1 Dublin Shanghai On board vessel A, voyage no. 2 15 March at Dublin

On board vessel B, voyage no.21 20 March at Hamburg
B/L2 Rotterdam Shanghai On board vessel A, voyage no. 2 18 March at Rotterdam
On board vessel B, voyage no.21 20 March at Hamburg
Which of the following statements with respect to B/L are TRUE
1 Latest date of presentation will be calculated from 20 March

2 Latest date for presentation will be calculated from 18 March
3 Partial shipment effected
4 Partial shipments not effected
A. 1 &3
B. 2 & 3
C. 1 &4
D. 2 & 4
73 With respect to the bills of lading above, what will be the maturity date?
A. 28 April
B. 30 April
C. 01 May
D. 02 May
74 Who will be able to determine the maturity date?

A. Issuing bank
B. Nominated bank
C. Applicant
D. Anybody
75 Compliant documents for USD 500,000 were received at your counters for negotiation on the
23 March and found to be in order. How much should the nominated bank pay the beneficiary?
{Assume same Bs/L stated above have been presented)
A. USD 498026
B. USD 497783
C. USD 498171
D. USD 498220
15/17
01713 082 412, Schooloftrade@gmail.com
Query: 01712 175 979,
gnpool ot Qlittitm
[ For questions 76 to 80, please refer to In-Basket 2)
76 The Documentary Credit should be advised as

A. Revocable
B. Irrevocable
C. Revocable Transferrable
D. Irrevocable Transferrable
77 All of the following Documentary Credit terms and conditions under UCP may be
disregarded EXCEPT
A. Divisible
B. Fractionable
C. Adding your confirmation
D. Issued by a competent authority
78 Which of the following shipped on board date of B/L would be acceptable for the shipment?
1 17 April April
2 20 April tvi
3 25 April 2 3 4
4 02 May 5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 26 28 29 30
A. 3 Only
B. 3 & 4 Only
C. 2, 3 & 4 Only
D. 1, 2, 3 & 4 Only
79 Under the terms of the Documentary Credit your bank may accept documents that including quality
certificate issued by
1 Applicant
2 Beneficiary
3 Third Party Manufacturer
4 Thrid Party Inspection Co
A. 1 & 2
B. 2 & 3
C. 1,2&4
D. I,3&4
a Before confirming the Documents, the nominated bank should request an amendment to
which of the following terms and conditions
A. Drawee Party
B. Shipment Period
C. Presentation Period
D. Form of Documentary Credit

g7,1,1)1.11.1 t V./4 PVC
[ For questions 81 to 85, please refer to In-Basket 3]
81 Who has issued the insurance document?

A. Broker
B. Insurance company
C. Insured
D. None
82 Which of the following is correct regarding the insurance document submitted

1 Sumitted insurance document is not required by the credit
2 The insurance doc is not acceptable as it does not evidence payment of premiums.
3 The Insurance document is not effective
4 Trade term does not support the insurance requirement
A. 1 & 2
B. 2 & 3
C. 1 &3
D. 2 & 4
83 Which of the following is correct regarding the date of the inusurance document
A. The Insurance document is not dated
B. Cover starts from the shipment date 06 Oct xxxx
C. Insurance document states an expiry date, which is prohibitted by UCP
84 Which of the following is correct regarding the insurance document

1 Currency would not be acceptale if the insurance document would not state 'claim payable in
equivalent USD'
2 All originals must be presented
3 Cover shows 'Warehouse to Warehouse' - which means coverage starts from 06 Oct xxxx
4 The insurance document must be endorsed in favor of issuing bank or
applicant or blank endorsed
A. 1 &2
B. 1 &3
C. 2 & 3
D. 2 & 4
85 Which of the following is TRUE regarding the insurance document

A. "All risks" are not covered by the insurance document
B. Unacceptable exclusion clauses included
C. A maximum of USD90,000.00 will be paid If there is loss of USD100,000.00 )'`
D. Amount in word differs with figure

17/17
tboot of Stabe
MOCK 3- In Basket 1
Your bank is a nominated bank of a documentary credit with the following terms
1 Amount USD500,000.00
2 Goods Iron Ore
Grade A - 300 MTs
Grade B - 200 MTs
3 Partial shpt Not Allowed
4 Shipment from Any European Port to Chinese Port
Full set of charter party B/L
6 Available By negotiation at your counters
7 Drafts 45 days from B/L date drawn on the issuing bank
8 Charges All charges outside issuing bank's counters
are for the account of beneficiary
Assumptions
1 There are no bank holidays in this period
2 Saturdays and Sundays are not banking days
3 The discount rate is 3.5% p.a. on a 360 days basis
4 Your bank's outstanding commission - Advising fee - USD30.00
March
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31
April
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30
May
1 2 3 4 5 6
8 9 10 11 12 13
15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

X2119111.14. 4.11. cts..14.-
MOCK 3- In Basket 2
• You are a document checker at the Nominated Bank. The attached Documentary Credit is received today.
Assumptions:
1. The message has been authenticated
DOCUMENTARY CREDIT
FROM: XYZ BANK LTD, ANYTOWN, ANY WHERE

TO: ADVISING BANK, SOMETOWN SOMEWHERE
DATE: 30-Mar
LC NO: 1234
TEST NO.4321 FOR USD2050000 DATED 30 MARCH WITH OUR HEAD OFFICE
WE OPEN OUR DIVISIBLE, FRACTIONABLE DOCUMENTARY CREDIT NO.1234
ORDER ACCOUNT OF : UVW COMPANY ANYTOWN ANYWHERE
FAVOUR : RST COMPANY SOMETOWN SOMEWHERE
FOR THE AMOUNT OF USD2050000.00 (TWO MILLION AND FIFTY THOUSAND UNITED STATES DOLLARS)
COVERING SHIPMENT OF
1200 MT MILK POWEDER CFR ANYWHERE
SHIPMENT FROM ANY PORT SOMEWHERE TO ANY PORT ANYWHERE
TRANSHIPMENT ALLOWED PART SHIPMENT ALLOWED
VALID FOR NEGOTIATION AT THE COUNTERS OF THE CONFIRMING BANK UNTIL 21 JULY
SHIPMENT TO BE EFFECTED AS FOLLOWS:

1ST SHIPMENT FOR 600 MT ON OR ABOUT 27 APRIL
2ND SHIPMENT FOR 600 MT TO BE EFFECTED BETWEEN 01 AND 31 MAY BOTH END DAYS INCLUSIVE
AVAILABLE FOR NEGOTIATION OF DRAFTS AT 60 DAYS SIGHT DRAWN ON UVW COMPANY ANYTOWN
ANYWHERE ACCOMPANIED BY THE FOLLOWING DOCUMENTS:
1 SIGNED COMMERCIAL INVOICE IN TRIPLICATE

2 FULL SET OF CLEAN SHIPPED ON BOARD BILLS OF LADING CONSIGNED TO ORDER OF
XYZ BANK LTD MARKED FREIGHT PAID AND NOTIFY ACCOUNTEE
3 QUALITY CERTIFICATE ISSUED BY A COMPETENT AUTHORITY
4 COPY OF FAX SENT TO ACCOUNTEE ADVISING SHIPMENT DETAILS, SHIPMENT DATE,
INVOICE VALUE AND DOCUMENTARY CREDIT NUMBER WITHIN FIVE DAYS OF SHIPMENT
5 PACKING LIST
SPECIAL INSTRUCTIONS:
ALL BANK CHARGES OUTSIDE ANYWHERE INCLUDING REIMBURSEMENT CHARGES
ARE FOR THE ACCOUNT OF UVIN COMPANY
2 PLEASE ADVISE THE BENEFICIARY ADDING YOUR CONFIRMATION
3 CLAIM REIMBURSEMENT FROM OUR ACCOUNT WITH OUR NEW YORK OFFICE AT
MATURITY FOR DOCUMENTS PRESENTED IN STRICT COMPLIANCE WITH THE TERMS AND
CONDITIONS OF THIS DOCUMENTARY CREDIT
THIS DOCUMENTARY CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY
(2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE (PUBLICATION NO.600)

gPtboot of Zrabe
MOCK-3, IN-BASKET 3, Page 1/2
SWIFT MESSAGE MT 700
FROM ISSUING BANK
TO ADVISING BANK
27 SEQUENCE OF TOTAL 1/1

40A FORM OF DC IRREVOCABLE TRANSFERRABLE
20 DC NUMBER 123456
31C DATE OF ISSUE 06 MARCH XXXX
40E APPLICABLE RULES UCP LATEST VERSION
31D DATE AND PLACE OF EXPIRY 06 NOVEMBER XXXX USA
50 APPLICANT XYZ CO
59 BENEFICIARY ABC CO
32B CURRENCY AND AMOUNT USD1,000,000.00
41D AVAL. WITH BY... ISSUING BANK BY ACCEPTANCE
42C DRAFTS AT 120 DAYS SIGHT
42D DRAWEE XYZ CO
43P PARTIAL SHPT PROHIBITTED
43T TRANSSHIPMENT PROHIBITTED
44C LATEST DATE OF SHPT 06 OCT XXXX
44E PORT OF LOADING MUMBAI, INDIA
44F PORT OF DISCHARGE SAO PAULO
45A DESC. OF GOODS ABOUT 1,000,000 PCS OF FROZEN CHICKEN LEGS AT ONE
DOLLAR PER PIECE CIF
46A DOCS REQUIRED +SIGNED COMMERCIAL INVOICE IN THREE FOLD
+PACKING LIST IN THREE FOLD
+CERTIFICATE OF ORIGIN IN 1 COPY
+ BENEFICIARY'S CERTIFICATE STATING FOLLOWING DOCS
REQUIRED UNDER THIS CREDIT HAVE BEEN FORWARDED
TO XYZ CO WITHIN 5 DAYS AFTER THE SHPT DATE:
COMMERCIAL INV, 1 COPY CERTIFICATE OF ORIGIN, 1 COPY
INSURANCE CERTIFICATE, 1 ORIGINAL B/L
+INSURANCE POLICY COVERING ALL RISKS ISSUED IN
TWO ORIGINALS
+FULL SET OF BILLS OF LADING CONSIGNED TO ORDER OF
APPLICANT MARKED FREIGHT PAID
47A ADDITIONAL CONDITIONS 1 BENEFICIARY MUST PROVIDE APPLICANT WITH DETAILS OF
SHPT
2 SHPT MUST BE MADE ON VESSEL BUTTERFLY
3 GOODS MUST BE INSPECTED BY APPLICANT PRIOR TO
SHPT
4 GOODS MUST BE OF INDIAN OR CHINESE ORIGIN
48 PERIOD FOR PRESENTATION WITHIN 20 DAYS AFTER THE DATE OF SHPT BUT WITHIN
CREDIT VALIDITY
49 CONFIRMATION INSTRUCTION CONFIRM
78 INSTRUCTIONS ON RECEIPT OF DOCS BY US IN COMPLIANCE WITH THE
CREDIT WE WILL REIMBURSE YOU IN ACCORDANCE WITH
YOUR INSTRUCTIONS AT MATURITY
****** MESSAGE PASSED AUTHENTICATION **********

g7)L4)ILIW1 UL V.1,1-13ML
MOCK-3, IN-BASKET 3, Page 2/2
Secured Insurance Broker Ltd

Allianz Insurance Group
Marquis Street, India
Certificate no: 00000001.01.02 Date 10 Nov xxxx
This is to certify that insurance of interest as specified below and so valued has been effected subject to the
terms and conditions specified overleaf and to the special conditions stated below:
Assured(s) Amount Insured

To order GBP1,000,000.00
(Great Britain Pounds One Zero Zero Zero Zero Zero Zero point Zero Only)
**Claim payable at destination in equivalent US Dollar INSURANCE CERTIFICATE

of
Direct Insurance Co. Ltd, Mumbai, India
Goods and Merchandises

ABOUT 1,000,000 PCS OF FROZEN CHICKEN LEGS
Voyage from MUMBAI, INDIA Cover is subject to

Voyage to SAO PAULO
Shipment date 06 Oct xxxx
Warehouse to Warehouse
Risks covered by this certificate
ICC (A)
Risks excluded
Institute WAR clauses
Institute STRIKE clauses
Expiry date Place and date of issue
31 Dec xxxx As above
Signature
sachin tentrufkr
Countersign of Insured for DICL, Mumbai, India
Additionals
1 Unless countersigned, this cover is not effective

2 Cover is subject to 10% deductible
3 Expiry date mentioned in this certificate relates to the latest date of shipment only
NO. OF ORIGINALS ISSUED 3

tboot of Zratte
MOCK-3, Simulation 1
As a specialist in a Bank, you are given the following information with a transport document.
LC requires:
+ Air consignment note evidencing goods consigned to Secure Bank, Cannaught Place,
New Delhi 110001, marked notify Dream Color Ltd, Village Road, Delhi, India and
freight payable at destination, showing actual flight number and date
+ Dispatch from Qingdao Airport to Delhi Airport no later than 4 March xxxx
+ Flat Grill FCA Quindao
Identify five CORRECT discrepancies:
.". The AWB is not issued as per UCP
7 Flight number & date not shown as per credit
i
i Freight information in conflict within the airway bill
Airport of Destination shows DEL instead of New Delhi
5 Carrier not identified
/ Late shipment
AWB shows improper Trade term
8 The airway bill is negotiable
9 Value of goods not declared
10 Missing signature of shipper or it's agent

)L1)U*JL iv ow",
Shipper Non negotiable 106-34567389
Yong Soon Electronic Co. Ltd Air Way Bill
Quingdao, China Issued by Titanic Air Cargo
member of IATA
Consignee Copies 1, 2 & 3 are originals and have the same validity
Secure Bank It is agreed that the goods described herein are accepted
Cannaught Place in apparent good order and conditions of contracts on the
New Delhi, 110001, India reverse hereof.

Issuing carrier's agent name and city Issuing carrier maintains cargo accident liability insurance
Express Air Cargo, Qingdao, China

Accounting information
Notify Dream Color Ltd
Agent's IATA Code Account No Village Road

Delhi, India
Airport of departure
To By first carrier to by to by Currency CMOS PreColl 0th Coll Declared value for carriage
DEL NVD
Airport of destination First flight (for carrier use only) Flight date
._ ...... _ ..... ._.. ___... XZ0973 106 March 2008 2`^-te'etc- JCA:....., "
7
Handling information
Freight Collect
No. of Gross Rate class Chargeable Rate Total Nature & Qty of goods
packages wt weight charge
2,111 2,111 As Arranged Flat Grill 15" (0.181) Qty 2000 NC

Flat Grill 20" (0.151) Qty 5000 NC
as per purchase order no. 20082671 dt 12.02.2008
and 20082673 dt 13.02.2010
FOB Quindao Airport Incoterms2010
Freight payable at destination
LC Number 0129875
Prepaid weight charge collect other charges
valuation charge
Tax
Total other charges due agent This document is not valid unless coutersigned by shipper or its agent
Total other charges due carrier Shipper certifies that the particulars on the face hereof are correct
and that insofar as any part of the consignment contains
Total Prepaid Total collect dangerous goods, such part is properly described by name and is in
proper condition for carriage by air according to the applicable
currency conversion rates CC chg in deal. dahgerous goods regulations.
for carrier's use only charges at destination
at destination Signature of shipper or his agent

Express Air Cargo, as agent of the carrier
4 march xxxx Qingdao Illomiag VODA7 .

Executed on at (place) signature of issuing carrier
or it's agent
ORIGINAL 3 (FOR SHIPPER)

gprboot of Zrabe
LC requires:
+ Full set of clean on board charter party bill of lading issued to order of Wheat Development
Bank marked notify Wheat Provider Company, 100 Main Street, Mumbai and
freight payable as per charter party
+ Shipment from Houston to Any Indian Port no later than 4 March 2008
+ Description of goods
20,000 MT Wheat in Bulk as per Proforma Invoice No. 123/TRE/2098 dated February 1,
2008
/1 Freight settlement information in conflict
Claused bill of lading presented
Owner or charterer's name missing
}V' Full set of B/L not presented
O Correction not authenticated
Blank backed B/L presented
/Late shipment
8 B/L does not evidence issue date
/ Notation confirming the actual port of discharge not mentioned
Carrier not identified
Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail com •

eSs, ••• •••• .• ••••
CODE NAME: CONGEN BILL 1994 MOCK-3, Simulation 2

B/L no. 6 Original 2/2
Shipper
National Wheat Company

Bill of Lading
To be used with charter parties
Kansas
Consignee (Not negotiable unless consigned to order)
To order of Wheat Development Bank

Reference no
Mumbai, India
Notify Party
Wheat Provider Company

100 Main Street
Mumbai, India
Vessel Port of loading
Sea Largo Houston

Port of discharge
Any Indian Port

Gross weight
Shipper's Description of goods
20,000 MT of free running Wheat (partially wet) in Bulks as per Proforma Invoice 20,000 MT
No. 123/TRE/2098 dated February 1,2008
Shipped 05 March 2008
(of which on hatch in deck at shipper's risk - carrier not)
Freight PAYABLE AS PER Shipped at the port of loading in apparent good order & condition on board the vessel for arrlage
o the port of discharge or so near thereto as she may safely get the goods specified above.
Charter-party dated 15 Feb 2008
Weight, measure, quality, quantity, condition, contents and value • unknown.

FREIGHT ADVANCE.
Received on account of Freight
IN WITNESS whereof the Master or Agent of the said vessel has signed the number of bills of lading
indicated below all of this tenor and date, any one of which being accomplished the others shall be void.
Freight PAYABLE AT
FOR CONDITIONS OF CARRIAGE PLS SEE OVERLEAF
Time used for loading days hours
Place & date of issue HOUSTON

March 14, 200$ (Correction approved
Signature
For & on behalf of the Master of MV Sea Largo, Speedy Shipping, as agent
Original for Consignee

jebellxe
Query: 01712 175 979, 01713 082 412, Schooloftrade@grhail.com
• • I I • • MEMO • =I El • • • • • •
Oryoot ot exatie
• • MIME
Supporting C1DCS and ICC Certifications

LC requires:
+ Full set of International Consignment Note evidencing 50 boxes exclusive man made
Men's & Women's Sweaters CPT Mayfair, London consigned to Super Rich Stores,
Mayfair, London. Additional charges prohibitted.
+ From Milan, Italy to London, UK no later than 4 March 2008
+ Partial & transhipment prohibitted
+ Ucp600 sub article 24e (Transhipment) excluded
1 - 'UCP article 24 Road, Rail or Inland Waterway Transport Document -

to be applied in the examination of the transport document
,Transhipment effected
__/'Transport Document is silent on it's originality
Full set not presented as per credit
5 Partial shipment effected
6 Late shipment
7 International Consignment Note shows charges additional to freight
/ Place of receipt & Place of destination missing country name
9 Signing not as per UCP
10 Freight information in conflict with trade term

7)0oot of Erabe
7
LETTRE DE VOITURE INTERNATIONALE INTERNATIONAL CONSIGNMENT NOTE
Sender Customs ref

Prime woven Products Sender's agent ref
Milan
Italy
Consignee Carrier's name & address
Super Rich Stores Road Haulage Company of Italy

Mayfair
Milan
London W1
Place & date of taking over the goods Successive carriers
Milan- 14 March 2008 on Lorry No. WB3251

By Lorry No. GB25849 on 16 March Manchester
Place designated for delivery of goods

This carriage is subject, notwithstanding to any clause to the contrary
Mayfair, London to the convention on the contract for the international carriage of
goods by road (CMR)
Marks & nos; No & kind of packages Description of goods Gross weight Volume
1/50 50 boxes exclusive man made Men's & Women's Sweaters 2200 kg
Super Rich CPT Fl as per proforma invoice number 238 dated 3 Feb 2008
London
Carriage Charges Sender's instruction for customs etc.....
COLLECT
Reservations Documents attached
Special agreements
Goods received Signature & stamp of carrier Company completing this note
Ace shipping as agent Place & date; Signature

Haeromee 04 March 2008 Milan Ar b
Alfemzo Reggire

•

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anboof of Mrabe

Certified Documentary Credit Specialists (CDCS)

Length of examination 3 Hours

Information for Candidates

1. This paper consists of two sections: Section A and Section B:

Name of the candidate

A. Multimodal transport document

1 Non-negotiable sea waybill

A. Liner bill of lading

19 Which of the following is NOT acceptable as proof of insurance?

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 3/17

A.yull and legal title passes upon delivery

22 Which one of the following is NOT a commercial document?

A. If they ask for all documents together

A. The tenor of the draft

A. Not allowed by UCP600 art 16

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 4/17

What triggers settlement under a documentary credit

A. evidence of shipment of the goods;

3 Which one of the following is not a party under a DC

A. The Confirming Bank

4 Name the main purpose of a documentary credit.

NKTo undertake payment to a beneficiary.

6 Your customer is an exporter. Which payment term exposes it to least risk?

7 Incoterm CIF means

A. carriage, insurance and freight

A. Revocable letter of credit

9 Which type of documentary credit provides a preshipment facility to the beneficiary?

A. If the documentary credit is received on paper

12 Which of these is not a risk faced by a beneficiary in a documentary credit?

A. Failure of the issuing bank

A. Ensuring that the credit or amendment is genuine

14 Which type of document identifies the goods in the documentary credit?

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 2/17

A. The issuing bank's authorization, once issued, is irrevocable

A. Negotiation under reserve

A. Debit our account held with you

A. the multimodal transport document must be issued by the carrier;

A. Freight payable as per charter party dated ..........[but no date added].

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 6/17

Which of the following is perfect for the issuing bank?

1 Cannot but to accept the documents if otherwise comply

41 Who cannot sign on an Air Transport Document?

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 7/17

Applicant ABC Chemicals, 24 Khilgaon, Dhaka

Which of the following documents are discrepant?

A. B is not obligated to honor as the credit is expired

Sequentially name the three credits explained above?

A. Red clause LC, Advance Payment Standby, Performance Standby

45 Which of the following is TRUE

A. 1, 2 & 3 B. 2,3 & 4 C. 1 & 4 D. 4 Only

Query: 01712 175 979, 01713 082 412, Schooloftrade@gmail.com 8/17

1 Draft singed by 'Y as agent of X'

A. Bank C only, from the date of negotiation

Which of the following statements is true regarding insurance documents?

52 An employee of a bank making payment to a beneficiary under a DC should be aware of

Which of the following statements are most appropriate?

Query 01712 175 979, 01713 082 412, Schooloftrade@gmail.corn

59 An LC requires presentation of an Inspection certificate issued by Good Inspection Co,

60 Which of the following statements are correct

62 Extract from an LC:

The beneficiary presented the following documents:

MESSAGE PASSED AUTHENTICATION ****