The term "Euro" as used in the euro equity market implies:

a. issuer located in Europe

b. investor located in Europe

c. Both A and B

d. none

Consider a bank which acknowledges it will make payments on behalf of beer importer after beer is delivered to importer. This reflects:

a. accounts receiving financing

b. forfeiting

c. factoring

d. letter of credit

Basic needs import export financing:

a. financing

b. assurance against risk non-completion

c. protection against transaction risk

d. all ABC correct

e. only two of above ABC correct

If a letter of credit is irrevocable, the exporters bank must honor drafts drawn on letter of credit.

a. irrecovable

b. confirmed

c. cummulative

d. ABC correct