Questions and Answers on Finance of International Trade by Leonard Waxman (auth.)

By Leonard Waxman (auth.)

This revision advisor is meant to function a supplement to the textbook. Its objective is basically to supply previous exam questions set by means of the Institute of Bankers and the examiners' personal solutions including prior questions set on the urban of London Polytechnic and different questions, with their solutions. this provides the reader a much broader diversity of themes which displays the contents of the textbook, and allows of selectivity to satisfy desire. it is recommended that as each one textbook bankruptcy is learn, the correct part within the Revision consultant might be tried with a purpose to try out wisdom and realizing, thereby extra improving the training procedure. To facilitate this, the advisor is decided out part by means of part, to compare the chapters within the textbook. a number of sections are prefaced by means of introductions to bridge the distance among textbook and questions. furthermore, questions are offered in succeeding order of trouble in order that readers can movement from the fewer to the extra advanced at their very own velocity. November 1985 L. Waxman vii Passing the exam The Banking degree degree 2 exam Finance ofInternational alternate. The Institute of Bankers degree examinations happen two times each year, in April and September. potential applicants who desire to organize themselves as completely as attainable and who're utilizing the linked textbook to this revision advisor will locate the query and solutions which it comprises an imperative technique of instruction for the exam paper "Finance ofInternational Trade".

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360 per ton cif Rotterdam. Shipments are to be made as follows: 200 tons during January 400 tons during February. The merchant immediately asks his bank to cover the exchange. The first shipment is made on 14 January and the payment duly received. However the buyer complains that the quality of the rice shipped on 3 February is sub-standard and he refuses to pay the original price. After inspecting the goods, the London merchant quotes a reduced price of OFls 180 per ton cif Rotterdam, which the buyer accepts.

250,000 on 1 March. 26 Consider the special financial data a UK investor would need to take into account for a profitable, non-speculative short-term investment overseas. 27 What steps can a UK importer take when faced with a situation where the payment date may be anywhere between three and six months after taking delivery of his goods and where he is unwilling to accept the foreign exchange risk? Payment is in currency. 28 Consider the factors that an importer would have to take into account when faced with a choice between paying for his imports on delivery with a price discount, or paying three months after delivery without a price discount.

9 During January you advise your customer that an irrevocable credit expiring 30 April has been opened in his favour to sell 1,000 tonnes of nickel to Italy at LIT 11 million per tonne CIF. On 1 February he requests you to open a credit expiring 31 March in New York in favour of a seller in the USA to purchase the nickel at US $6,300 per tonne CIF. The terms of both credits state that shipment is to be on or after 1 March. At the same time your customer asks you to cover him by forward contract for the US dollar and Italian lire transactions.

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