Telegraphic transfer (T/T) has the features except that ( )
A. T/T is safe.
B. T/T is more expensive than M/T.
C. T/T is fast.
D. In telegraphic transfer, the payment order may be lost.
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Which item is not necessarily indicated on a letter of credit?
A. kinds of credit
B. L/C amount
C. date and place of issue
D. acceptor
Which of the following is the obligation of issuing bank under letter of credit?
A. To advise or transmit the credit to the beneficiary within reasonable time.
B. Issue the L/C correctly without delay on the basis of the application.
C. Add its confirmation to a credit upon the issuing bank’s authorization or request.
D. To take reasonable care to check the authenticity of the credit.
The payer on the bill of exchange under collection is ( )
A. exporter
B. importer
C. exporter’s bank
D. importer’s bank
Which of the following is not a characteristic of negotiable instruments?
A. Right setting
B. Requisite in form
C. Presentment
D. Unconditional
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