Iip301 quiz 3 questions Study guides, Class notes & Summaries
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![IIP301 - QUIZ 3 QUESTIONS AND ANSWERS](/docpics/3754970/6544294b8bb12_3754970_121_171.jpeg)
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IIP301 - QUIZ 3 QUESTIONS AND ANSWERS
- Exam (elaborations) • 10 pages • 2023
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The currency not widely used in international payment: 
Select one: 
a. The German Deutsche Mark (DM) 
b. The Euro (€) 
c. The US Dollar ($) 
d. The Japanese Yen (¥) 
A 
 
 
 
In documentary credits, the date when the issuing bank is bound to be responsible for L/C amendment is determined: 
a. whenever the buyer or the seller has any issues. 
b. by any period before the opening of the first L/C. 
c. from the date issuing amendment L/C. 
d. 7 working days from the date of the L/C amendment. 
C...
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