Electronic Communications/Assessment

Assessment
1. The changes in technology have required international businesses organizations to
 * a. rely solely on internet communications.
 * b. maintain requirements for hard copies only.
 * c. watch and observe the changes from the sidelines.
 * d. adapt their guidelines to internet communications.

2. The eUCP provides banks with guidelines to
 * a. use electronic Incoterms for international transactions.
 * b. electronically communicate and transmit documents for documentary collections.
 * c. electronically communicate common business practices.
 * d. use electronic methods of payment for international transactions.

3. When issuing documents for a letter of credit, freight forwarders must ensure they
 * a. comply perfectly with the letter of credit.
 * b. arrive at the bank immediately.
 * c. arrive at the buyer’s office immediately.
 * d. comply with the wishes of the seller.

4. The standard messaging system used by banks around the world is known as
 * a. EBanking.
 * b. ESystem.
 * c. SWIFT.
 * d. SWEAT.

(Correct answers: 1=d, 2=b, 3=a, 4=c)