1. Which one of the following statements is NOT true?

"The application of block chain technology to International trade finance:"

a.is currently limited but this appears to be an area in which there is much room for innovation.

b. will change a segment of international finance that has seen little innovation in the past

c. has the potential to reduce the cost of international trade for importers and exporters

d. will offer opportunities of development to both established banks and new or existing fintech companies

e. does not currently require investment in technology

2. Most Letters of Credit issued in connection with global trade transactions are

Select one:

a. peer-to-peer

b. clean

c. documentary

d. created by a combination of a buyer and a seller alone

e. revocable

3. The stock market return and exchange rates in 2021 in Country Lalaland have been as follows:

Return in Local Currency in Country Lalaland in 2021 (%): 42.8

LC Units/Dollar on 1/1/2021: 1.88

LC Units/Dollar on 31/1/2021: 2.09

What is the dollar return on this market?

a.10.4%

b.-11%

c.1.1%

d.2.09%

e.0%