CDCS测试题.docx

CDCS测试题.docx

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CDCS测试题

（CDCS）PracticeTestSessionNumberXXXXX

_____________________________________________________________________

Thispracticetestpaperisasmallsampleofthetypeofquestionsyouwillencounterintheactualtest

paper.Thistestrepresentsonethirdoftheactualtestandshouldnottakelongerthan1hourtocomplete.PleaserefertotheCDCSstudyguideforinformationonthestructureandnumberofquestionsthatwillappearintheactualtestpaper.

Thispracticetestpaperconsistsoftwosections:

SectionAandSectionB.

SectionAconsistsof22multiplechoicequestionsworthonemarkeach.

SectionBconsistsof:

•3standaloneanalysisquestionsworthonemarkeach;

•1in-basketexercise,5questionsperin-basket,eachquestionworthonemark;

•1simulationexerciseworthamaximumoffivemarks.

Followingthein-basketandsimulationisthesupportingdocumentationforeach.（Pleasenotethatiftakingthetextinpaperformtherewillbeseparatedocumentationforeachin-basketorsimulation.）

InthequestionsinbothSectionAandSectionByoushouldassumethat,unlessotherwisestated,thereareNOBankHolidays,andSaturdaysandSundaysareNOTbankingdays.

UCP600appliesthroughout.

Onlysilent,non-programmablecalculatorsmaybeusedinthisexamination.

INSTRUCTIONSTOCANDIDATES

1.Readtheinstructionsonbothsidesoftheanswersheetcarefully.

2.DoNOTopenthisexampaperorthein-basket/simulationbooklets

untilinstructedtodoso.

3.Answerallquestionsontheanswersheetprovided.Youmaywrite

onthein-basket/simulationbookletsorthequestionpaper.

4.Beforeyouleavetheexaminationroomyoumusthandinallthe

examinationmaterialsincludingtheanswersheet,thequestion

paperandthein-basket/simulationbookletsandhavethem

checkedbytheinvigilator.Failuretodosowillinvalidateyour

entry.

AqualificationjointlyexaminedandawardedbytheifsSchoolofFinanceandtheInternationalFinancialServices

Association.EndorsedbytheInternationalChamberofCommerce.

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SectionA

1.AdocumentarycreditforUSD120,000.00callsforshipmentoffertiliserinFebruary,March,April

andMay.Eachshipmentistobeforabout500tonnes.Shipmentwaseffectedasfollows:

1.450tonnessent24FebruaryforvalueUSD27,000.00.

2.550tonnessent12AprilforvalueUSD33,000.00.

3.460tonnessent30AprilforvalueUSD28,000.00.

4.550tonnessent04JuneforvalueUSD33,000.00.

Whichoftheaboveshipmentswillbehonouredonpresentation?

A1only.

B1and3only.

C2and4only.

D1,2and3only.

2.InaccordancewithISP98,whichofthefollowingstatementsiscorrect?

Theissuerofastandby

letterofcreditMUST:

Avalidatethebreachofanyunderlyingtransaction.

Bensuretheaccuracyofanydocumentspresented.

Censurethegenuinenessofanydocumentspresented.

Dhonourpresentationsthatappearontheirfacetocomply.

3.AnissuerofastandbycreditsubjecttoISP98isresponsiblefor:

Aaccuracyofanydocument.

Bactofomissionbythenominatedbank.

Cobservanceoflawasstatedinthestandby.

Dperformanceofanyunderlyingtransactions.

4.Areimbursingbankhasreceivedavalidclaimunderitsreimbursementundertakingandis

instructedbytheissuingbankNOTtohonourtheclaim.InaccordancewiththeURR525,the

reimbursingbankshould:

Arequesttheclaimingbanktocanceltheclaim.

Binstructtheclaimingbanktocontactthebeneficiary.

Chonourtheclaimanddebittheissuingbank'saccount.

Ddishonourtheclaimaspertheissuingbank'sinstruction.

5.Animporterrequiresgoodsofastipulatedqualitywhiletheexporterrequirescertaintyofpayment.

WhichofthefollowingwouldBESTmeetallrequirements?

AConfirmedstandbycreditpayableondemandcallingforbeneficiary'squalitycertificate.

BConfirmeddocumentarycreditpayableatsightcallingforbeneficiary'squalitycertificate.

CConfirmeddocumentarycreditavailablebyacceptancewithdraftsdrawnonconfirming

bankcallingforthirdpartyqualitycertificate.

DUnconfirmeddocumentarycreditpayableatsightwithdraftsonissuingbankcallingfor

thirdpartyqualitycertificate.

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6.AGermanbankhasaddeditsconfirmationtoadocumentarycreditissuedbyaTurkishbank.

WhichofthefollowingrisksisNOTbornebytheconfirmingbank?

AFraudbythebeneficiary.

BInsolvencyoftheissuingbank.

CRefusaloftheissuingbanktopayagainstcomplyingdocuments.

DGovernmentrestrictionsonfundstransferfromtheissuingbank.

7.Whichofthefollowingcanbecombinedunderacreditavailablewithandrequiringadraftdrawnon

anissuingbank?

1.Payment.

2.Deferredpayment.

3.Acceptance.

4.Negotiation.

A1and2only.

B1and3only.

C2and3only.

D3and4only.

8.InaccordancewithUCP600,whichofthefollowingtermsmayNOTbealteredonatransferred

documentarycredit?

The:

Aamount.

Brequireddocuments.

Cperiodforpresentation.

Damountofinsurancecover.

9.Acumulativerevolvingdocumentarycreditisopenedwithsixmonths'validityandallowingforUSD

25,000.00tobedrawneachmonth.Ifonlythefirstmonth'sshipmentiseffectedinfull,whatisthe

availableamountinthefourthmonth?

AUSD0.00.

BUSD25,000.00.

CUSD75,000.00.

DUSD100,000.00.

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10.Adocumentarycreditwhichallowspartialshipmentshasthefollowingshipmentschedule:

1,000unitsshippedbetween01JuneXXXXand30JuneXXXX

2,000unitsshippedbetween01JulyXXXXand31JulyXXXX

2,000unitsshippedbetween01AugustXXXXand31AugustXXXX

3,000unitsshippedbetween01SeptemberXXXXand30SeptemberXXXX

Thebeneficiaryshippedthegoodsandpresenteddocumentsasfollows:

1.1,000unitsshippedon15JuneXXXXdocumentspresentedon30JuneXXXX

2.3,000unitsshippedon15JulyXXXXandpresentedon28JulyXXXX

3.2,000unitsshippedon31JulyXXXXandpresentedon15AugustXXXX

4.3,000unitsshippedon15SeptemberXXXXandpresentedon30SeptemberXXXX

Whichoftheabovesetsofdocumentsarecomplying?

A1only.

B3only.

C1and4only.

D1,2and4only.

11.InaccordancewithUCP600,whichofthefollowingalterationscanafirstbeneficiaryrequestatransferringbanktomakeunderatransferabledocumentarycredit?

AExtendtheexpirydate.

BDecreasetheunitprice.

CDecreaseinsurancecover.

DExtendtheperiodforshipment.

12.Atransferablecreditcandowhichofthefollowing?

AProtecttheapplicantfromtherisksoflossanderror.

BAllowthesecondbeneficiarytoobtainpaymentforcomplyingdocuments.

CRestricttherightofthesecondbeneficiarytoclaimpaymentdirectlyfromthenominated

bank.

DPermitthesuppliertoprovidetheintermediarytraderwiththesecurityofadocumentary

credit.

13.Adocumentarycreditcallsforadraftat95daysbillofladingdatedrawnontheconfirmingbank.

Thedocumentarycreditisavailableby:

Arefinance.

Bacceptance.

Csightpayment.

Ddeferredpayment.

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14.Adocumentarycreditpre-adviceisissuedon1MarchforUSD510,000.00withthefollowingtermsandconditions:

-Partshipmentallowed.

-Latestshipmentdate30April.

-Expirydate15May.

On2Marchtheapplicantrequestsanamendmentprohibitingpartshipmentandextendingthe

expirydateto30May.InaccordancewithUCP600whatMUSTtheissuingbankdo?

AClarifywiththeapplicanttheperiodforpresentation.

BIssuethedocumentarycreditasoriginallyinstructed.

CIssuethedocumentarycreditincorporatingalltheamendments.

DIssuethedocumentarycreditincorporatingonlytheextendedexpirydate.

15.On03JanuaryXXXXanirrevocabledocumentarycreditforUSD500,000.00isconfirmed.On17

JanuaryXXXXtheconfirmingbankreceivesanamendmentcancellingthedocumentarycredit

whichitadvisestothebeneficiary.Asat18JanuaryXXXX,whatistheliabilityofbothbanks?

AIssuingandconfirmingbank–USD0.00.

BIssuingandconfirmingbankUSD500,000.00.

CIssuingbank–USD0.00Confirmingbank–USD500,000.00.

DIssuingbank–USD500,000.00Confirmingbank–USD0.00.

16.Whichofthefollowingstatementsiscorrectwhenanassignmentofproceedshasbeeneffected

underadocumentarycreditissuedinaccordancewithUCP600?

ATheassigneemustpresentcomplyingdocumentstoreceivepayment.

BTheassigneewillreceivepaymentoftheproceedsdirectlyfromtheapplicant.

CThevalueofthedocumentarycreditisreducedbytheamountoftheassignment.

DThebeneficiaryhasassigneditsrightstothestatedamountofproceedstotheassignee.

17.Anapplicanthasgivenitscounterindemnitytoitsbankersinconnectionwithadeliveryorder.

WhichofthefollowingstatementswouldNOTbeincluded?

Theapplicant:

Aindemnifiesthebankagainstallactions,damagesandcosts.

Bundertakestoaccepttheunderlyingdocumentsirrespectiveofdiscrepancies.

Cgivestheissuingbankauthoritytodebititsaccountforthefullvaluependinginspectionof

thegoods.

Dundertakesthatshouldthegoodsformpartofalargeconsignmentitwillacceptthat

consignmentandpaythefullvalue.

18.AdocumentarycreditisissuedforanamountofGBP60,000.00andcallsfordraftstobedrawnat

30daysfrombillofladingdate.Documentshavebeenpresentedwithabillofladingdated09

NovemberXXXX.WhichofthefollowingtenorsonthedraftwillNOTbeacceptable?

A09DecemberXXXX.

B30daysfrombillofladingdate.

C30daysafter09NovemberXXXX.

D30daysdate,draftdated09NovemberXXXX.

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19.WhichofthefollowingdocumentsMUSTbesigned?

APackinglist.

BCertificate