(CDCS) Practice Test 4 / question 2

hassan · Post by **hassan** » Wed Mar 25, 2009 10:38 am

Dear all,
please have a see to second question of "Level 2 - CDCS, Practice Test 04" and tel me the correct answer.to me the second answer is correct but when you tick it or even other answers you couldn,t get point.why? what is the correct answer? why it give no point with any of answers?

thank you,

Ozoda · Post by **Ozoda** » Wed Mar 25, 2009 3:28 pm

Dear hassan?

How many questions are in "Level 2 - CDCS, Practice Test 04" ?

hassan · Post by **hassan** » Thu Mar 26, 2009 11:17 am

There are 10 questions in each test (as well as in test no. 4)

the question no 2 in test 4 is as follow:

Which of the following is a typical reimbursement instruction for a credit available by negotiation?

1- In reimbursement we authorize you to claim reimbursement from XYZ Bank.
2- In reimbursement we will remit the proceeds in accordance with your instructins.
3- In reimbursement we authorize you to debit our account with you.
4- a credit available by negotiation should not have any reimbursement instruction.

which one of above mentioned answers is correct?

Ozoda · Post by **Ozoda** » Thu Mar 26, 2009 10:22 pm

I think that the correct answer is:

2- In reimbursement we will remit the proceeds in accordance with your instructins.

admin · Post by **admin** » Thu Mar 26, 2009 11:07 pm

Dear Friends,

you can easily review the answer of a particular test. On completion of the test, please click on the review button at the top right corner of the window. the option is not easily visible i know. sorry for the inconvenience.

about this particular question, the answers given are 2 and 4. To score a point, you have to select both 2 and 4.

any comments on the answers given appreciated.

regd
admin

Ozoda · Post by **Ozoda** » Fri Mar 27, 2009 2:40 pm

Dear admin,

Could you please advise whether the new CDCS Practice Tests will be placed on site.

Thank you,
kind regards,
Ozoda

Ozoda · Post by **Ozoda** » Fri Mar 27, 2009 2:46 pm

In my opinion the 1st and the 3rd answers are for the LCs available by payment.

valentina · Post by **valentina** » Wed Apr 01, 2009 10:34 pm

Ozoda wrote:In my opinion the 1st and the 3rd answers are for the LCs available by payment.

i think that correct is the second option..and agree with you that 1st and 3rd for lc valid by payment

fionawang · Post by **fionawang** » Thu Apr 02, 2009 2:01 am

For 4th answet, if the credit has reimbursement clause will put issuing bank in a risk place.

fionawang · Post by **fionawang** » Mon Apr 06, 2009 3:43 am

kinkidz wrote:want to know

For sight payment, issuing bank will check the doc., but for negotiation L/C, the nominated bank will claim payment from reimbursing bank which will get paid from issuing bank. Issuing bank have no chance to check the doc.