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