1. A _______ is a legally binding obligation by the __________ bank to pay the stated amount at the time of maturity.

a. banker's acceptance, accepting

b. banker's acceptance, opening

c. banker's acceptance, confirming

d. usance, accepting

2. The typical maturity for a banker's acceptance ranges from ________ to _________ days.

a. 30, 180

b. 60,180

c. 10,30

d. 180, 360

3. ______________ is a form of __________ in which loans are made on the basis of a(an) ________ that is held as collateral for the loans.

a. Warehouse, inventory financing, inventory

b. Purchase order, inventory financing, inventory

c. Warehouse, accounts receivable, inventory

d. Warehouse, inventory financing, purchase order

4. When the beneficiary of an L/C submits in writing to the opening bank a request to transfer all or part of the L/C's credit to a third party, it is known as a ___________ payment.

a. assignment of proceeds

b. documentary

c. draft

d. irreconcilable