Which of the following statement concerning protest is not correct?
A. It is a certificate under seal drawn up and signed by a notary public (legal) or court or banking association or other authorized person in the dishonor place.
B. On the reverse of the protest, the copy of the dishonored bill will be attached.
C. The protest fee paid to the notary public is to be borne by the drawer.
Different laws have the same regulation concerning protest.
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Which of the following does not belong to reverse remittance?
A. collection
B. demand draft
C. letter of credit
D. telegraphic transfer
( ) has the highest efficiency but costs most.
A. T/T
B. M/T
C. D/D
D/P
Which of the following is not an indicator of right setting?
A. The right of the instruments arises from issuing of instruments.
B. The right of the instruments is transferred by delivering of instruments.
C. The right of the instruments is exercised by presenting of instruments.
D. The title of instruments can be passed from person to person by delivery or by endorsement and delivery.
It is the ( ) that undertakes the primary liability to effect payment under letter of credit.
A. issuing bank
B. importer
C. exporter
D. advising bank
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