Who is not responsible for payment of L/C?A．advising bankB．confirming bankC．buyerD．issuing bank

A、No, you can’t. Bank of China is not responsible for exchanging foreign currency.

B、Yes, you can. Bank of China is an authorized foreign exchange bank.

C、No, you can’t. Bank of China is not open on Sundays.

The central idea of this passage is ______.

A．electronic transfer of funds

B．bank's payment mechanism

C．clearing of checks

D．computer and payment

How can the seller receive immediate payment if the draft is made payable on a future date?

A．He can send the draft to the correspondent bank for immediate payment.

B．He can present it to the bank against which it is drawn for payment.

C．He can ask the buyer to pay the money.

D．He can discount the draft at his bank and get money immediately.

As for a collection, the presenting bank makes presentation to the drawer for acceptance/payment.

A．Right

B．Wrong

C．Doesn't say

听力原文：The encashing bank forwards the cheque to the drawer's bank for payment and reimbursement.

(5)

A．The paying bank sends the check to the remitting bank for repayment.

B．The remitting bank sends the check to the paying bank for repayment.

C．The collecting bank sends the check to the remitting bank for repayment.

D．The remitting bank sends the check to the collecting bank for repayment.

听力原文：A bank or insurance company issues a document to guarantee that exporter will supply the goods or services as the required standard.

(4)

A．A bank or insurance company issues an advance payment bond.

B．A bank or insurance company issues a tender bond.

C．A bank or insurance company issues a maintenance bond.

D．A bank or insurance company issues a performance bond.

The bank who opens the L/C is called ( ) .

A. issuing bank

B. notifying bank

C. establishing bank

D. paying bank

The terms of payment are important for both the seller and the buyer. For the seller, the best terms would be full payment ________. We’re flexible, adaptable and innovative. Everything we do is about your bu cash at the time of sale. But the buyer would prefer to have the goods before making payment. Importers and exporters are separated from each other by ________. We’re flexible, adaptable and innovative. Everything we do is about your bu?of miles. This adds to the difficulties of ________. We’re flexible, adaptable and innovative. Everything we do is about your bu an agreement of payment. However, exporters and importers usually meet each other half-way and agree to payment by a Letter of Credit. A letter of credit (L/C) is a banker’s guarantee that payment will be made, if all the required shipping documents are presented. * In this way, exporters receive a guarantee not only from importers, but also from a bank. * On ________. We’re flexible, adaptable and innovative. Everything we do is about your buhand, importers are given the guarantee that the bank will not make payment unless all the shipping documents are presented. Nevertheless, the exporter can further require an ________letter of credit. That means the guarantee of payment cannot be cancelled either by the opening bank or the importer.

In the foreign exchange market, which is made up of banks' traders and brokers, prices (61) every minute (62) to supply and demand. For safety's sake, a branch will get a rate from their traders for a big transaction. Therefore the traders give their branches lists of exchange rates (63) they may buy and sell notes and payments in the main currencies.

Whenever a bank in Britain makes a payment in foreign currency, or makes a payment in sterling to a non-resident, the payment has first to (64) under British exchange control regulations. The bank itself can usually authorize the payment after seeing a document such as an invoice to show that the payment is due; but cases (65) borrowing and lending have to be referred to the Bank of England.

(46)

A．alter

B．vary

C．turn

D．convert

What will the correspondent bank do in the settlement according to this passage?

A．It will make payment in dollars against the banker's draft.

B．It will send the draft to the bank in Britain.

C．It will issue a documentary credit.

D．It will have an agreement with the bank mentioned.