BÀI TRẮC NGHIỆM TIẾNG ANH CHUYÊN NGÀNH NGÂN HÀNG TRÌNH ĐỘ CƠ BẢN pdf

1



BÀI TRẮC NGHIỆM TIẾNG ANH CHUYÊN NGÀNH NGÂN HÀNG

TRÌNH ĐỘ CƠ BẢN



FINANCE – BANKING VOCABULARY TEST

Choose the correct word to complete each sentence :

1. The great advantage of using …………. for payments is that you don’t have to
carry large amounts of cash around with you.

a/ Checks b/ Bills of exchange c/ Promissory notes

2. To put money into the bank:

a/ To deposit b/ To withdraw c/ To endorse

3. To subtract money from an account

a/ Credit b/ Debit c/ Clear

4. To make two accounts match with each other .

a/ Honour b/ Present c/ Reconcile

5. Interest………… are their lowest level since the 1980’s.

a/ Figures b/ Rates c/ Numbers

6. The remaining amount of money in an account .

a/ Credit b/ Debit c/ Balance

7. The money that you borrow from a banking institution is called a……

a/ Loan b/ Deposit c/ Commission

8. Money in the form of bank notes and coins

a/ Cash b/ Cashier c/ Cashew


2

9. A customer can deposit and withdraw the money in a
at any time without waiting for a period of time.

a/ demand deposit account b/ time deposit account c/ savings account


10. ……………………involves recording every purchase and sale that a business makes,
in the order that they take place, in journals.

a/ Bookkeeping b/ Accounting c/ Auditing

11. The ……………….represents the total value of the goods and services produced
by a country over some unit of time (a month, a season, a year etc.).

a/ Gross Domestic Product b/ Gross Profit Margin c/ Gross National Income

12. An economy that lacks a commonly accepted currency, so all exchanges must be
made with goods and services because money does not exist in these economies.

a/ Monetary economy b/ Barter economy c/ Commodity economy

13. The ……………………… measures how much the price of a basket of consumer
goods has changed over a given time period.

a/ Consumer Behavior Index
b/ Consumer Confidentiality Index
c/ Consumer Price Index

14. ……………………. acts as a unit of account, a store of value, and a medium of
exchange in transactions.

a/ Currency b/ Cash c/ Money

15. . ………are people who put money into a business in the hope of making a profit.

a/ Borrowers b/ Spenders c/ Investors

16. A record of a depositor’s deposits and withdrawals.

a/ Accounting b/ Accountant c/ Account

17. Payment by the bank for the use of a depositor’s money.

a/ Principal b/ Interest c/ Loan


3

18. In order to withdraw money the bank requires your…………

a/ Statement b/ Savings account c/ Signature

19. When you give money to a bank, who are you?

a/ A borrower b/ A depositor c/ A withdrawer

20. Things a company owns and uses in its business.

a/ Liabilities b/ Owners’ equity c/ Assets

21. The amount of money that the lender lends to the borrower.

a/ principle b/ principal c/ premium

22. When my friend needs a loan he offers the bank his house as……

a/ debt b/ deposit c/ collateral

23. A small book that records a depositor’s deposits, withdrawals and interest payments
by the bank.

a/ Journal b/ Passbook c/ Ledger

24. I’m paying for my new car in 36 monthly …………

a/ instalments b/ pieces c/ parts

25. In Japan, the US dollar is ……………………………….

a/ foreign money b/ strange money c/ a foreign currency

26. A depositor is ………….when he writes a check for more money than he has in his
account.

a/ overdrawn b/ debited c/ credited

27. What is the primary source of income for commercial banks?

a/ Fees b/ Deposits c/ Loans

28. How easily a company can turn some of its assets into cash.

a/ Efficiency b/ Solvency c/ Liquidity

4

29. You are never too young to start some money in a savings account.

a/ Investing b/ Infusing c/ Interesting

30 . The bank’s ………….lists assets and liabilities.

a/ profit and loss statement b/ cash flow c/ balance sheet

31. Money received; in accounting, an entry made on the right side of an account.

a/ debit b/ credit c/ balance

32. The financial institution is as an intermediary since………

a/ it gets deposits from customers and then it provides loans to customers.
b/ it operates between the buyers and the sellers.
c/ it takes capital from its reserve and offers to its creditors.


33. It may seem a long way into the future but in the end you will get some
from your investment.

a/ Produce b/ Price c/ Benefit

34. Each business hopes to make a………….to satisfy the shareholders.

a/ Share b/ Profit c/ export

35. My husband would like to remodel the kitchen so I would like to………$20,000
for a second mortgage on our house.

a/ Lend b/ Deposit c/ Borrow

36. What is an overdraft ?

a/ A type of bank account.

b/ An agreed amount you can borrow when your account balance runs out.

c/ A check returned unpaid.

37. The accounting value of a company ( assets minus liabilities).

a/ Net profit b/ Net worth c/ Net sales


5

38. We are thinking of buying a house and we would like to talk to a………

a/ Borrowing guy b/ Checking supervisor c/ Loan officer

39. What role does the board of directors of a bank play?

a/ Make loans b/ Make deposits c/ Oversee bank activities

40. Regular bank statements will be sent to you by post, listing recent………

a/ payments b/ events c/ transactions

41. After they have been paid in, cheques usually take three working days to…

a/ pass b/ credit c/ clear

42. Houses, bungalows, apartments, offices, shops and other any type of building you

can own are called…………

a/ housing b/ property c/ buildings

43. When the government doesn’t control the exchange rate in any way, the currency
is ………………

a/ freely convertible b/ totally convertible c/ absolutely convertible

44. Delayed, put off or postponed until a later time.

a/ Accrued b/ Amortized c/ Deferred


45. The ……………….shows how big a company’s profit is ( after interest and tax)
compared with the shareholders’ equity.


a/ Return on equity (ROE)
b/ Return on assets (ROA)
c/ Retained earnings / Total assets

46. Money owed by a company

a/ Accounts receivable b/ Accounts payable c/ Expense accounts

47. Allowing a customer time before he has to pay for goods or services :

a/ Debit b/ Coverage c/ Credit
6

48. Money borrowed by a company to finance its activities :

a/ Debt b/ Debit c/ Deed

49. Debts which a company has to pay within the next accounting period :

a/ Contractual liabilities
b/ Current liabilities
c/ Long-term liabilities

50. Closing of a company and selling of its assets :

a/ Liquidity b/ Liquid c/ Liquidation

51.Capital for investment which may easily be lost in risky projects, but can also provide
high returns :

a/ Venture capital b/ Visible capital c/ Viable capital

52. Loan made with no collateral as security :

a/ Secured loan b/ Unsecured loan c/ Soft loan

53. Loan where the borrower is not likely to pay :

a/ Non-secured loan
b/ Non-performing loan
c/ Non-negotiable loan

54. To deposit share certificates with a lender / bank as security for money borrowed :

a/ To pledge share certificates
b/ To sell share certificates
c/ To negotiate share certificates

55.To pay interest on a debt and also repay the principal at due date :

a/ To service a debt
b/ To schedule a debt
c/ To set off a debt


56. A check for salary given by an employer to someone who works for him /her.

a/ Bounced check b/ Paycheck c/ Crossed check
7


57. All the …………… you make on your account are recorded so that you can
check the details at any time.

a/ Movements b/ Activities c/ Transactions

58. The bank will simply not let you………….any money unless you can prove that
you have been in regular employment for at least 3 years.

a/ lend b/ provide c/ borrow

59. To find or supply money for someone or something.

a/ to guarantee b/ to finance c/ to provide


60. Banks make their profits from the difference between the interest rate charged to
borrowers and that paid to depositors, also known as …

a/ mistake b/ margin c/ range

61. The central bank is ………….to the commercial banks which are meeting the
liquidity problem.

a/ the commercial lender b/ the lender of last resort c/ the corporate lender

62. An organized market for the issue of new securities and the exchange of second-
hand ones.

a/ stock exchange b/ foreign exchange c/ commodity exchange

63. The amount of money made from an investment is its………….

a/ rate of return b/ rate of interest c/ rate of exchange

64. All the money received by a person or a company is known as …………….

a/ aid b/ income c/ wages

65. Money paid by the government or a company to a retired person is a …………….

a/ pension b/ rebate c/ subsidy

66. The money needed to start a company is called……………………………….

a/ aid b/ capital c/ debt
8


67. Money given to developing countries by richer ones is known as ……………

a/ debt b/ aid c/ subsidy


68. A type of deposit account which pays a favorable rate of interest.

a/ Savings account b/ Checking acount c/ Transaction account

69. Which of the following best describes the bank system?

a/ Regulated and unsafe b/ Regulated and safe c/ Unregulated and safe


70. If ever you find you have an unexpected expense, you can always……… some
money from your current account.

a/ extract b/ withdraw c/ exit

71. Income a bank derives from loans and investment securities.

a/ non-interest income b/ interest income c/ net income

72. Banking services offered to large companies.

a/ consumer banking b/ retail banking c/ corporate banking

73.Two or more customers may apply for a ……………………

a/ two-person account b/ joint account c/ together account

74. Debt which will not be paid and which has to be written off in the accounts book :

a/ Bad debt b/ Critical debt c/ Doubtful debt

75. Not yet paid or completed :

a/ Outstanding b/ Outright c/ Outgoing

76. Loan which is guaranteed by the borrower giving assets as security :

a/ Secured loan b/ Securities loan c/ Securitized loan



9

77 . Members of a board of directors who are not full-time managers of the company.

a/ Directors b/ Executice directors c/ Non-executive directors

78. Balance sheets of subsidiary companies grouped together into the balance sheet of
the parent company :

a/Comprehensive balance sheet
b/ Consolidated balance sheet
c/ Common balance sheet

79. Assets used by a company in its ordinary works ( such as cash, materials, finished
products, monies owed by customers ) :

a/ Fixed assets b/ Current assets c/ Liquid assets

80. Failure to carry out the terms of a contract, especially failure to pay back a debt :

a/ Default b/ Deficiency c/ Delinquent

81. The government bank which regulates all commercial banks in a country is called
…………….
a/ Investment bank b/ Merchant bank c/ Central bank

82. Being able to pay all debts on due date :

a/ Insolvency b/ Solvency c/ Liquidity

83. Legal agreement where someone lends money to another person so that he can buy a
property, the property being the security :

a/ Mortgage b/ Security c/ Collateral

84. You can obtain cash at any time of the day or night from……

a/ an ATM b/ a bank teller c/ a bank receptionist

85.A numerical assessment of the risk of a potential borrower .

a/ Credit rating b/ Credit risk c/ Credit history

86. Computerized banking is……….

a/ Consumer banking b/ Corporate banking c/ Electronic banking
10


87. Name or value of coin or banknote e.g VND 1000, VND 10000, VND 50000.

a/ Denomination b/ Denominator c/ Depreciation

88. An employee who serves customers in a bank for their deposits, withdrawals and
other services.

a/ Manager b/ Teller c/ Receptionist

89. The value of one currency in terms of another.

a/ Interest rate b/ Exchange rate c/ Option rate

90. A statement sent regularly to customers – showing debits, credits and the balance of
the account.

a/ Income statement b/ Cash flow statement c/ Account statement

91. Movement of money from one bank account to another one.

a/ Transfer b/ Trade c/ Travel

92. A debt instrument that bears interest and promises repayment.

a/ Share b/ Bond c/ Check

93. The net worth or equity of the shareholders’ investment in a company.

a/ Cash b/ Credit c/ Capital

94. Units of equity of companies which may be bought and sold on the stock
exchange and may rise and fall in value.

a/ Shares b/ Standing order c/ Security

95. ………………consist of everything a company owes.

a/ Liabilities b/ Owners’ equity c/ Assets



96. Income a bank derives from sources such as fees and service charges, trading
income, and investment securities gains.

a/ Interest income b/ Non-interest income c/ Net income
11

97. The exporter sends the goods and documents to the foreign buyer. The buyer pays the
invoice when the goods arrive, or within a certain period from the invoice date. This can
be risky,as the exporter trusts the buyer to honour the original sales contract.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account

98. A foreign bank issues an undertaking to the exporter ( through a bank in the
exporter’s country) to pay for the goods as long as the exporter complies with the terms
and conditions of the contract. This is a much safer form of payment for the exporter. To
be even safer, the exporter can arrange for the bank in his/her country to act as
“ confirming bank”, which means that the bank in the exporter’s country is responsible
for the transaction.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account

99. A method of payment used in international trade whereby the Exporter entrusts the
handling of commercial and often financial documents to banks and gives the banks
instructions concerning the release of these documents to the Importer. Banks involved
do not provide any guarantee of payment.

a/ advance payment

b/ documentary collection
c/ documentary credit
d/ open account


100. The exporter does not dispatch the goods until payment has been received from the
importer. There is no risk for the exporter – all the risk is taken by the importer.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account
1

ĐÁP ÁN

BÀI TRẮC NGHIỆM TIẾNG ANH CHUYÊN NGÀNH NGÂN HÀNG

TRÌNH ĐỘ CƠ BẢN



FINANCE – BANKING VOCABULARY TEST

Choose the correct word to complete each sentence :

1. The great advantage of using …………. for payments is that you don’t have to
carry large amounts of cash around with you.

a/ Checks b/ Bills of exchange c/ Promissory notes

2. To put money into the bank:

a/ To deposit b/ To withdraw c/ To endorse

3. To subtract money from an account

a/ Credit b/ Debit c/ Clear

4. To make two accounts match with each other .

a/ Honour b/ Present c/ Reconcile

5. Interest………… are their lowest level since the 1980’s.

a/ Figures b/ Rates c/ Numbers

6. The remaining amount of money in an account .

a/ Credit b/ Debit c/ Balance

7. The money that you borrow from a banking institution is called a……

a/ Loan b/ Deposit c/ Commission

8. Money in the form of bank notes and coins

a/ Cash b/ Cashier c/ Cashew

2


9. A customer can deposit and withdraw the money in a
at any time without waiting for a period of time.

a/ demand deposit account b/ time deposit account c/ savings account


10. ……………………involves recording every purchase and sale that a business makes,
in the order that they take place, in journals.

a/ Bookkeeping b/ Accounting c/ Auditing

11. The ……………….represents the total value of the goods and services produced
by a country over some unit of time (a month, a season, a year etc.).

a/ Gross Domestic Product b/ Gross Profit Margin c/ Gross National
Income

12. An economy that lacks a commonly accepted currency, so all exchanges must be
made with goods and services because money does not exist in these economies.

a/ Monetary economy b/ Barter economy c/ Commodity economy

13. The ……………………… measures how much the price of a basket of consumer
goods has changed over a given time period.

a/ Consumer Behavior Index
b/ Consumer Confidentiality Index

c/ Consumer Price Index

14. ……………………. acts as a unit of account, a store of value, and a medium of
exchange in transactions.

a/ Currency b/ Cash c/ Money

15. . ………are people who put money into a business in the hope of making a profit.

a/ Borrowers b/ Spenders c/ Investors

16. A record of a depositor’s deposits and withdrawals.

a/ Accounting b/ Accountant c/ Account

17. Payment by the bank for the use of a depositor’s money.

a/ Principal b/ Interest c/ Loan
3

18. In order to withdraw money the bank requires your…………

a/ Statement b/ Savings account c/ Signature

19. When you give money to a bank, who are you?

a/ A borrower b/ A depositor c/ A withdrawer

20. Things a company owns and uses in its business.

a/ Liabilities b/ Owners’ equity c/ Assets

21. The amount of money that the lender lends to the borrower.

a/ principle b/ principal c/ premium

22. When my friend needs a loan he offers the bank his house as……

a/ debt b/ deposit c/ collateral

23. A small book that records a depositor’s deposits, withdrawals and interest payments
by the bank.

a/ Journal b/ Passbook c/ Ledger

24. I’m paying for my new car in 36 monthly …………

a/ instalments b/ pieces c/ parts

25. In Japan, the US dollar is ……………………………….

a/ foreign money b/ strange money c/ a foreign currency

26. A depositor is ………….when he writes a check for more money than he has in his
account.

a/ overdrawn b/ debited c/ credited

27. What is the primary source of income for commercial banks?

a/ Fees b/ Deposits c/ Loans

28. How easily a company can turn some of its assets into cash.

a/ Efficiency b/ Solvency c/ Liquidity

4

29. You are never too young to start some money in a savings account.

a/ Investing b/ Infusing c/ Interesting

30 . The bank’s ………….lists assets and liabilities.

a/ profit and loss statement b/ cash flow c/ balance sheet

31. Money received; in accounting, an entry made on the right side of an account.

a/ debit b/ credit c/ balance

32. The financial institution is as an intermediary since………

a/ it gets deposits from customers and then it provides loans to customers.
b/ it operates between the buyers and the sellers.
c/ it takes capital from its reserve and offers to its creditors.


33. It may seem a long way into the future but in the end you will get some
from your investment.

a/ Produce b/ Price c/ Benefit

34. Each business hopes to make a………….to satisfy the shareholders.

a/ Share b/ Profit c/ export

35. My husband would like to remodel the kitchen so I would like to………$20,000
for a second mortgage on our house.

a/ Lend b/ Deposit c/ Borrow

36. What is an overdraft ?

a/ A type of bank account.

b/ An agreed amount you can borrow when your account balance runs out.

c/ A check returned unpaid.

37. The accounting value of a company ( assets minus liabilities).

a/ Net profit b/ Net worth c/ Net sales


5

38. We are thinking of buying a house and we would like to talk to a………

a/ Borrowing guy b/ Checking supervisor c/ Loan officer

39. What role does the board of directors of a bank play?

a/ Make loans b/ Make deposits c/ Oversee bank activities

40. Regular bank statements will be sent to you by post, listing recent………

a/ payments b/ events c/ transactions

41. After they have been paid in, checks usually take three working days to…

a/ pass b/ credit c/ clear

42. Houses, bungalows, apartments, offices, shops and other any type of building you
can own are called…………

a/ housing b/ property c/ buildings

43. When the government doesn’t control the exchange rate in any way, the currency
is ………………

a/ freely convertible b/ totally convertible c/ absolutely convertible

44. Delayed, put off or postponed until a later time.

a/ Accrued b/ Amortized c/ Deferred


45. The ……………….shows how big a company’s profit is ( after interest and tax)
compared with the shareholders’ equity.

a/ Return on equity (ROE)
b/ Return on assets (ROA)
c/ Retained earnings / Total assets

46. Money owed by a company.

a/ Accounts receivable b/ Accounts payable c/ Expense accounts

47. Allowing a customer time before he has to pay for goods or services :

a/ Debit b/ Coverage c/ Credit
6

48. Money borrowed by a company to finance its activities :

a/ Debt b/ Debit c/ Deed

49. Debts which a company has to pay within the next accounting period :

a/ Contractual liabilities
b/ Current liabilities
c/ Long-term liabilities

50. Closing of a company and selling of its assets :

a/ Liquidity b/ Liquid c/ Liquidation

51.Capital for investment which may easily be lost in risky projects, but can also provide
high returns :

a/ Venture capital b/ Visible capital c/ Viable capital

52. Loan made with no collateral as security :

a/ Secured loan b/ Unsecured loan c/ Soft loan

53. Loan where the borrower is not likely to pay :

a/ Non-secured loan
b/ Non-performing loan
c/ Non-negotiable loan

54. To deposit share certificates with a lender / bank as security for money borrowed :

a/ To pledge share certificates
b/ To sell share certificates
c/ To negotiate share certificates

55.To pay interest on a debt and also repay the principal at due date :

a/ To service a debt
b/ To schedule a debt
c/ To set off a debt


56. A check for salary given by an employer to someone who works for him /her.

a/ Bounced check b/ Paycheck c/ Crossed check

7

57. All the …………… you make on your account are recorded so that you can
check the details at any time.

a/ Movements b/ Activities c/ Transactions

58. The bank will simply not let you………….any money unless you can prove that
you have been in regular employment for at least 3 years.

a/ lend b/ provide c/ borrow

59. To find or supply money for someone or something.

a/ to guarantee b/ to finance c/ to provide


60. Banks make their profits from the difference between the interest rate charged to
borrowers and that paid to depositors, also known as …

a/ mistake b/ margin c/ range

61. The central bank is ………….to the commercial banks which are meeting the
liquidity problem.

a/ the commercial lender b/ the lender of last resort c/ the corporate lender

62. An organized market for the issue of new securities and the exchange of second-
hand ones.

a/ stock exchange b/ foreign exchange c/ commodity exchange

63. The amount of money made from an investment is its………….

a/ rate of return b/ rate of interest c/ rate of exchange

64. All the money received by a person or a company is known as …………….

a/ aid b/ income c/ wages

65. Money paid by the government or a company to a retired person is a …………….

a/ pension b/ rebate c/ subsidy

66. The money needed to start a company is called……………………………….

a/ aid b/ capital c/ debt

8

67. Money given to developing countries by richer ones is known as ……………

a/ debt b/ aid c/ subsidy


68. A type of deposit account which pays a favorable rate of interest.

a/ Savings account b/ Checking acount c/ Transaction account

69. Which of the following best describes the bank system?

a/ Regulated and unsafe b/ Regulated and safe c/ Unregulated and safe


70. If ever you find you have an unexpected expense, you can always……… some
money from your current account.

a/ extract b/ withdraw c/ exit

71. Income a bank derives from loans and investment securities.

a/ non-interest income b/ interest income c/ net income

72. Banking services offered to large companies.

a/ consumer banking b/ retail banking c/ corporate banking

73.Two or more customers may apply for a ……………………

a/ two-person account b/ joint account c/ together account

74. Debt which will not be paid and which has to be written off in the accounts book :

a/ Bad debt b/ Critical debt c/ Doubtful debt

75. Not yet paid or completed :

a/ Outstanding b/ Outright c/ Outgoing

76. Loan which is guaranteed by the borrower giving assets as security :

a/ Secured loan b/ Securities loan c/ Securitized loan

77 . Members of a board of directors who are not full-time managers of the company.

a/ Directors b/ Executice directors c/ Non-executive directors
9


78. Balance sheets of subsidiary companies grouped together into the balance sheet of
the parent company :

a/Comprehensive balance sheet
b/ Consolidated balance sheet
c/ Common balance sheet

79. Assets used by a company in its ordinary works ( such as cash, materials, finished
products, monies owed by customers ) :

a/ Fixed assets b/ Current assets c/ Liquid assets

80. Failure to carry out the terms of a contract, especially failure to pay back a debt :

a/ Default b/ Deficiency c/ Delinquent

81. The government bank which regulates all commercial banks in a country is called
…………….
a/ Investment bank b/ Merchant bank c/ Central bank

82. Being able to pay all debts on due date :

a/ Insolvency b/ Solvency c/ Liquidity

83. Legal agreement where someone lends money to another person so that he can buy a
property, the property being the security :

a/ Mortgage b/ Security c/ Collateral

84. You can obtain cash at any time of the day or night from……

a/ an ATM b/ a bank teller c/ a bank receptionist

85.A numerical assessment of the risk of a potential borrower .

a/ Credit rating b/ Credit risk c/ Credit history

86. Computerized banking is……….

a/ Consumer banking b/ Corporate banking c/ Electronic banking

87. Name or value of coin or banknote e.g VND 1000, VND 10000, VND 50000.

a/ Denomination b/ Denominator c/ Depreciation

10

88. An employee who serves customers in a bank for their deposits, withdrawals and
other services.

a/ Manager b/ Teller c/ Receptionist

89. The value of one currency in terms of another.

a/ Interest rate b/ Exchange rate c/ Option rate

90. A statement sent regularly to customers – showing debits, credits and the balance of
the account.

a/ Income statement b/ Cash flow statement c/ Account statement

91. Movement of money from one bank account to another one.

a/ Transfer b/ Trade c/ Travel

92. A debt instrument that bears interest and promises repayment.

a/ Share b/ Bond c/ Check

93. The net worth or equity of the shareholders’ investment in a company.

a/ Cash b/ Credit c/ Capital

94. Units of equity of companies which may be bought and sold on the stock
exchange and may rise and fall in value.

a/ Shares b/ Standing order c/ Security

95. ………………consist of everything a company owes.

a/ Liabilities b/ Owners’ equity c/ Assets

96. Income a bank derives from sources such as fees and service charges, trading
income, and investment securities gains.

a/ Interest income b/ Non-interest income c/ Net income


97. The exporter sends the goods and documents to the foreign buyer. The buyer pays the
invoice when the goods arrive, or within a certain period from the invoice date. This can
be risky,as the exporter trusts the buyer to honour the original sales contract.


11

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account

98. A foreign bank issues an undertaking to the exporter ( through a bank in the
exporter’s country) to pay for the goods as long as the exporter complies with the terms
and conditions of the contract. This is a much safer form of payment for the exporter. To
be even safer, the exporter can arrange for the bank in his/her country to act as
“ confirming bank”, which means that the bank in the exporter’s country is responsible
for the transaction.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account

99. A method of payment used in international trade whereby the Exporter entrusts the
handling of commercial and often financial documents to banks and gives the banks
instructions concerning the release of these documents to the Importer. Banks involved
do not provide any guarantee of payment.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account


100. The exporter does not dispatch the goods until payment has been received from the
importer. There is no risk for the exporter – all the risk is taken by the importer.

a/ advance payment
b/ documentary collection
c/ documentary credit
d/ open account



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