1. Label the following typical documentary credit transaction in the correct sequence.

   1. Bank Y sends L/C to bank X

   2. Importer arranges L/C with bank Y

   3. Bank X advises exporter of L/C

   4. Bank X presents draft and documents to bank Y

   		D. 3, 1, 4, 3
   		C. 4, 2, 3, 1
   		A. 1, 2, 3, 4
   		B. 2, 1, 3, 4

1. Label the following typical documentary credit transaction in the correct sequence.

   1. Bank X advises exporter of L/C

   2. Bank Y debits importer's account

   3. Bank Y checks the BOL after importer's application

   4. Bank X sends BOL and BOE to bank Y

   		A. 4, 3, 2, 1
   		B. 2, 1, 3, 4
   		C. 4, 2, 3, 1
   		D. 3, 1, 4, 2