1. The term "Euro" as used in the euro equity market implies:
a. issuer located in Europe
b. investor located in Europe
c. Both A and B
d. none
2. Consider a bank which acknowledges it will make payments on behalf of beer importer after beer is delivered to importer. This reflects:
a. accounts receiving financing
b. forfeiting
c. factoring
d. letter of credit
3. Basic needs import export financing:
a. financing
b. assurance against risk non-completion
c. protection against transaction risk
d. all ABC correct
e. only two of above ABC correct
4. If a letter of credit is irrevocable, the exporters bank must honor drafts drawn on letter of credit.
a. irrecovable
b. confirmed
c. cummulative
d. ABC correct