I. Multiple Choices（10×2%=20%）Choose the best answers.1. Which of the following is NOT the feature of container transport?A. reliabilityB. more packingC. advanced technologyD. faster transit2. The difference between Bill of lading and sea waybill is _______.A. a document of title to goodsB. a receipt for the goodsC. an evidence of carriage contractD. a consignment note3. The coverage of All Risks is equal to _______________.A. FPAB. WPAC. FPA + all general risksD. WPA + all general risks4. In L/C business, ___________ deal(s) with documents and not goods, services and/or other performances to which the documents may relate.A. exporterB. carrierC. importerD. banks5. A revocable credit is a credit which can be amended or cancelled at any moment by the issuing bank without prior notice to the ________________.A. beneficiaryB. applicantC. opening bankD. advising bank6. The parties involved in a bill of exchange are _______________________________.A. remitter, remitting bank, payerB. drawer, drawee, payerC. drawer, draweeD. drawer, payee, paying bank, payer7. International customs and practices generally agree that the _________ has the right to inspect the goods before acceptance of the goods.A. buyerB. sellerC. importing countryD. exporting country8. In international trade, the inspection of commodities is essential to ______________ the goods for import and export.A. cleaningB. clearingC. claimingD. closing9. General perils refers to natural ______________ and fortuitous.A. calamitiesB. damagesC. lossesD. franchises10. ___________ total loss is estimated that the actual total loss of cargo is inevitable or the cost of salvage or recovery would have exceeded the value of the cargo.A. ActualB. ConstructiveC. OverallD. All-roundII. True or False (10×1%=10%)Decide whether the following statements are true or false.1. A bill of exchange is defined as a conditional order in writing, addressed by one personto another.2.If the charterer fails to load or unload the goods on time, he will be punished by payingcertain amount of money to the ship owner. The money he pays is called dispatch money.3.Sea transport is the most modern form of physical international distribution and overallis highly efficient.4.Order B/L is widely used in international trade. It means that the goods are consignedor destined to the order of a named person.5.To the seller, payment by D/P is mush safer than by D/A.6.According to UCP500, the credit should clearly indicate whether it is revocable orirrevocable. In the absence of such indication the credit shall be deemed to be revocable.7.Free in and out means that ship-owner is responsible for both loading and unloadingcharges.8.Offer must be made by the seller and acceptance must be made by the buyer.9.In the event that one party breaks the contract, the other party (the injured party) hasthe right to claim damages and declare the contract avoided.10.The award of arbitration is usually final but not binding to all parties.III. Terms (5×3%=15%)Explain the following terms in English.1.B/L2.irrevocable L/C3.arbitration4.bill of exchange5.T/TIV. Calculations. (2×5%=10%)Calculate the following items.1.If the net CFR price is USD100 per M/T, to ensure the profit unchangeable，What’s theCFRC5% price？pany A exports 200 pieces of goods X to Rotterdam, Holland, the volume per pieceis 100cm x 40cm x 25cm, and gross weight is 80kg. On the list of Classification of commodity, article X falls within the scope of class 5, and the freight is based on W/M.On the Freight Tariff (China --- Rotterdam), the freight rate for class 10 is US$ 80, with 10% port surcharges and 15% direct sailing surcharges. How much is the total freight? V. Translations (4×5%=20%)Put these sentences into Chinese.1.Insurance to be covered by the Sellers for 110% of total invoice value against All Risks,as per and subje ct to the relevant ocean marine cargo clauses of the People’s Insurance Company of China, dated 1/1, 1981.2.Claim: Any claim by the Buyers regarding the goods shipped shall be filed within 30days after arrival of the goods at port of destination specified in the relative Bill of Lading and supported by a survey report issued by a surveyor approved by the Sellers.3.The buyer shall send a confirmed, irrevocable, and transferable letter of credit to bedrawn by sight draft to the Seller before Nov. 20, 2003. The letter of credit remains valid until 15 days after the above mentioned delivery and will expire on Dec. 30th, 2003. Meanwhile, a deposit of 10% of the total price should be paid by the Buyer immediately after signing the contract.4. Normally, the commodity inspection is an important step which should not be ignoredby traders, because the legal inspection of commodities can make sure good qualityand product the benefit and right of consumers.VI. Question Answer (3 × 5% + 1 × 10% =25%)Explain the following questions simply in English.1.What is the meaning of acceptance of the draft? (5%)2.What are the characteristics of arbitration? (5%)3.What are the characteristics of liner transport? (5%)4.Please write down the procedures of utilization of L/C according to the given diagram.(10%)。