477
LC calls for presentation of invoice allowing breakdown of cost, freight and other charges, packing
list and beneficiary certificate stating the drawing is final. The negotiating bank received the
following documents a) Invoice evidencing the gross amount as Rs. 15000, packing list, certificate of
origin evidencing the CIF value as Rs. 15,500 and beneficiary certificate. The drawing is for 80% of
the gross amount i.e., Rs. 12000, then the minimum insurance cover should be to the tune of:
A. Rs. 17050
B. Rs. 16500
C. Rs. 13200
D. Rs. 15500
503
A LC requires an Ocean Bill of Lading to be presented and the Port of Loading as per the Credit is
CHENNAI. The Bill of Lading presented evidences CHENNAI under the field headed ‘Place of Receipt’
and ‘Singapore’ under the field headed ‘Port of Loading’. In this case, the on-board notation should
evidence:
A. Loaded on Board at Chennai on -----(date)
B. Loaded on Board at Singapore on ----- (date) and the vessel on which it was loaded.
C. Loaded on Board at Chennai on ----- (date) and the vessel on which it was loaded.
D. Either (A) or (C) above
505
The LC expires on 30th April 2009 and the latest shipment date mentioned in the credit is 5 days
after the 4th of April 2009, which of the following presentation is acceptable, when there is no
presentation period mentioned in the Credit. (Assumption: No banking holidays other than Saturday
and Sunday in April 2009)
A. Documents presented with on board date as 10th April on 22nd April.
B. Documents presented on 2nd May as 30th April and 1st May is Saturday and Sunday with on
board date 8th April.
C. Documents presented on the 25th of April with on board date as 2ndApril.
D. Documents presented on the 29h of April with an on board date as 7th April.
514
Under a Credit which prohibits transhipment, Banks will accept a combined transport ocean bill of
lading which evidences that Transhipment will take place
A. If the entire voyage is covered by one and the same combined transport ocean bill of lading
B. Only, if the entire voyage is covered by one and the same multimodal transport document and
indicates that the relevant cargo is shipped in Container(s), Trailer(s) and/or ‘LASH’ barge(s).
C. Even if there is more than one transport document, provided they all combined together
constitute contract of carriage from the place of taking charge to the place of final destination.
D. Only, if the entire voyage is covered by one and the same combined transport ocean bill of lading
and has a clause ‘The Carrier reserves the right to transship.
517
A Road transport document
A. Must indicate the number of Originals issued
B. Need not indicate the number of originals issued
C. Must indicate the number of Originals issued and all the originals must be presented the counters
of the bank, if full set is required by the Credit.
D. Should not indicate the number of Originals issued.
519
The word “Iran” is struck off in the typed name of the insurance company in the invoice. Which of
the following is sufficient authentication?
A. An authentication of the correction by the insurance company.
B. An authentication of the correction by the insurance company’s agent identifying itself as agent.
C. No authentication.
D. An authentication by the beneficiary.
521
When a Credit calls for a Courier receipt to be issued by a XYZ courier agency, then the Courier
receipt
A. Should be issued and signed by the XYZ courier agency
B. Can be issued and signed by the agents to XYZ courier agency provided XYZ is identified as the
courier agency
C. Issued by XYZ Courier Agency but not signed
D. Issued by XYZ Pvt. Ltd Courier Agency and signed but undated
5 Which of the following statements are TRUE ?
2 1. If the credit is silent, then the Bill of Lading can show a clause ’Goods may be loaded on deck’
4 2. Where the Credit requires a Courier receipt to be presented and further indicates that the Courier
charges should be prepaid, then the Courier receipt presented can indicate ‘Freight charges are for
account of the Beneficiary’
3. Presentation of more than one courier receipt bearing the same place and date of shipment do
not Constitute Partial Shipment.
4. A Credit does not specify a Latest Shipment date and the Expiry date of the Credit is 19-Mar2009 which is a Non-Banking day. In this case, a Bill of Lading can evidence the shipment date as
21-Mar-09 (Next working day subsequent to the Expiry date).
Options:
A. 2,3 and 4 Only
B. 1,2 and 4 Only
C. 1,2 and 3 Only
D. 2 Only
526
As an issuing bank’s doc examiner you can accept which of the following documents as originals
A. Photocopy of the BL signed in original by the beneficiary.
B. Tele Fax copy of an invoice with an original stamp and perforated signature.
C. A carbon copy of the BL signed in original by the carrier and marked as 3rd Original.
D. A reprographic copy of an insurance document issued in a sole original.
527
When a Credit calls for a Road transport document to be presented, then the following is accepted.
1. RCN indicating that it is Copy for Shipper
2. RCN indicating that it is Copy for Consignor
3. Copy for carrier.
4. RCN not indicating for whom it is issued
Options:
A. 1 and 4 Only
B. 1, and 2 Only
C. 1,2 and 3 Only
D. 1, 2 and 4 Only
532
The additional conditions state that all shipping documents must be presented in duplicate
1. Beneficiary can submit 3/3 original BL’s.
2. Beneficiary is required to submit at least a copy and one original of the transport document.
3. Beneficiary must submit all documents except drafts in one original and in one copy
4. Beneficiary must submit the insurance document in one original and in one copy
Options:
A. All of the above
B. 1 and 3 only
C. None of the above
D. 1, 2 and 4 only
533
In an Irrevocable credit the Confirming bank CAN
1. Refuse to pay whenever the documents are not presented through them.
2. Refuse an amendment to the confirmed credit.
3. Confirm the credit only with the authorization of the Issuing bank and the beneficiary.
4. Claim re-imbursement for clean documents from the issuing bank when it has negotiated under
reserve
Options:
A. 1 and 2 only
B. 1,2 and 4
C. 2 and 3
D. 2 only
549
The Incoterms mentioned in the additional conditions of the credit are CFR. Which of the following
costs shown in the invoice is acceptable?
1. Ex-Factory value.
2. Inland Freight
3. Documentation Fee
4. Ocean Freight
Options:
A. All of the above
B. 1,2 and 4 only
C. 1 and 4 only
D. D. 1,3 and 4 only
573
Any difficulty, which a Claiming bank faces in respect of non-payment, late payment or interest
charges because of acts of reimbursing bank, should be referred to:
A. Issuing bank
B. Confirming bank
C. Reimbursing bank
D. Applicant
611
Which of the following is not inclusive under the definition of “Exporting country”?
A. Country of origin of goods
B. Country of receipt of goods by carrier
C. Country where the beneficiary is registered
D. Country where the goods are shipped or dispatched
615
Credit issued by Citibank India available by Acceptance with Citibank US with tenor of 60 days from
Bill of Lading date. The beneficiary can draw drafts on:
1. Citibank India
2. Citibank US
3. Any Bank in US
4. None of the above
Options:
A. 1 only
B. 2 only
C. Either 1 or 2
D. 3 only
630
Which of the following statements are TRUE:
1.
Carrier need not be identified in a Charter Part Bill of Lading
2.
Carrier need not be identified in a Multimodal Transport Document
3.
Carrier need to be identified in an Ocean Bill of Lading
4.
Carrier need not be identified in a Non-negotiable Seaway bill
Options:
A. 1 only
B.
1,2 & 3 only
C.
1,3 & 4 only
D. 2 & 3 only
648
A reimbursement claim:
1. must be authenticated
2. must, in the case of a RU, comply with the terms and conditions of the RU
3. must certify all terms and conditions are complied with
4. must be in the form of teletransmission
The above is not true except for :
A. 3 & 4 only
B. 2 only
C. 1 & 3 only
D. 1, 2 & 3 only
694
Which of the following is/are not transport documents as per UCP?
1) Delivery Order.
2) Mate Receipt.
3) Forwarder cargo receipt.
4) Railway Receipt.
5) Non-negotiable copy of Bill of lading.
Options:
A) All the above
B) None of the above
C) All the above other than 4
D) All the above other than 4 and 5
703
L/C called for the document: “Airway bill showing actual date of dispatch”. The following particulars
are available:
Date of issue: 20.01.2009.
Actual Flight no. and date (a separate notation): LH175 dt. 22.01.2009.
Flight no. and date (in the box marked “for carrier’s use only”): LH175/23.01.2009.
Which of the following is the actual date of shipment under the L/C?
a) 20.01.2009
b) 22.01.2009
c) 23.01.2009
d) The document is discrepant.
715
When a Credit stipulates “Insurance against all risks”, which of the following insurance certificates are
acceptable?
1. Insurance document containing “all risks” notation or clause
2. Insurance document containing the heading “all risks”
3. Insurance document containing all risks notation and excluding Institute cargo clause and Institute
war clause
4. Insurance document mentioning ICC(A)
Options:
A. 1 & 2
B. All the above
C. None of the above
D. 1, 2 & 3
742
If a Confirming bank chooses to advise an amendment without adding confirmation, it must:
A. Inform issuing bank without delay
B. Inform issuing bank within 3 banking days
C. Inform issuing bank without delay and beneficiary while advising the amendment
D. Inform both issuing bank and beneficiary within 3 banking days
756
Which of the following are untrue with respect to Notice of Completeness?
A. Must be in Electronic Form
B. Must identify the eUCP Credit to which it relates
C. Signifies when the presentation is complete
D. A, B & C above