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　　Ⅱ、True or false questions （Please write " √ " for the correct statement， and " x "for theincorrect statement）。

　　1.（ ）The buyer （as applicant） should specify in the application form the documents to be presented and the terms and conditions to be complied with.

　　2 （ ）The banks channel the documents but also give their payment undertaking under the procedure of a documentary collection.

　　3.（ ）The documentary credit structure provides the seller with an independent bank undertaking of payment.

　　4.（ ）The buyer of the goods and/or services may ‘also be known， as the importer， opener， applicant，accountee， or principal.

　　5.（ ）The documentary credit provides only the seller with independent assurance in respect of the exchange of goods for payment.

　　6.（ ）If the L/C calls for " Beneficiary‘ s certified copy of shipment advice by fax to the applicant advising shipment details"， then banks will accept a documents titled as "shipment advice" without any signature and/or date produced on a fax machine.

　　7.（ ）Red clause L/C is also called "reciprocal L/C".

　　8. （ ）Both transferable L/C and back-to-back L/C involve a middleman as a seller and substitution of documents.

　　9.（ ）For an unconfirmed L/C， a negotiating bank may negotiate with recourse to the beneficiary.

　　10. （ ）Unless otherwise allowed in the L/C， insurance document should be issued in the same currency as the L/C.

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