Certified Documentary Credit Specialist(2)

A Presentation of a document identified as a tax invoice. B An invoice which is not signed.

C An invoice made out in a different currency to the credit.

D An invoice issued for an amount in excess of that permitted by the credit.

CDCS Practice Test

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21. A beneficiary presents complying documents to a confirming bank under a documentary credit available by deferred payment. The beneficiary requests that the confirming bank purchase the documents and prepay against its undertaking. In accordance with UCP600, which of the following may be the correct course(s) of action for the confirming bank?

1. Obtain the issuing bank's agreement prior to paying the beneficiary. 2. Refuse the beneficiary's request while undertaking to pay at maturity. 3. Prepay the deferred payment undertaking.

4. Obtain an agreement for recourse to the beneficiary. A 1 only. B 4 only. C 2 and 3 only. D 3 and 4 only.

22. A documentary credit advised to a beneficiary payable at sight calls for documents to include an invoice made out in the name of the applicant. Documents presented to the negotiating bank by the beneficiary include a customs invoice but no commercial invoice. All other terms and conditions have been met. What action should the negotiating bank take?

A Reject the documents as non-complying. B Refer to the issuing bank for authority to pay.