I. Single or multiple choices: please choose one or more correct answers for each question:

1. Company A issues a bill of exchange with payment as At 90 days after sight. This is a

Asight draft Btime draft Cclean draft DTraders Acceptance Bill

2. Bank A issues a draft with Bank B as the drawee. The draft is

ACommercial draft BBankers draft

CBankers Acceptance Bill D. Traders Acceptance Bill

3. A sight draft may be

Adocumentary bill Bcommercial draft

CBankers draft DBankers Acceptance Bill

4. Which of the following is/are financial document(s)

Abill of exchange Bcommercial invoice

Cinsurance certificate Dpromissory note

5. A bankers acceptance Bill must be a

ACommercial draft BBankers draft

Ctime draft D. sight draft

II. Answer questions based on the following bill of exchange:

__________________________________________________________________________________________________________

Exchange for GBP500.00 London, 20 June

At sight of this FIRST of exchange (the SECOND of the same tenor and date being unpaid) pay to the order of C Co., the sum of Pounds Five hundred only

To A Bank, For ABC Company

London London

Signature

__________________________________________________________________________________________________________

1. Identity the three parties in this bill of exchange.

2. What is the time of payment for this bill of exchange This is a sight draft, so there is no time of payment in this bill of exchange.