A ____________ L/C Exists Where the Exporter, as Beneficiary of the First

question 3

Multiple Choice

A ____________ L/C exists where the exporter, as beneficiary of the first L/C, offers its credit as security to finance the opening of a second credit in favor of the exporter's own supplier of the goods needed for shipment under the first or original credit from the advising bank.

• A) confirmed
• B) transferable
• C) unconfirmed
• D) back-to-back

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Definitions:

Declining Birthrates

A decrease in the number of babies born per year, often indicative of changes in societal values, economic conditions, or access to fertility treatments.

Life Expectancy

The average number of years a person can expect to live.

Parents

Adults who have a child or children, either biologically, through adoption, or via other means, and are responsible for their care and upbringing.

Children

Young human beings, typically defined as persons from birth until puberty.