A Standby Letter of Credit Is Similar to a "Simple

question 13

Multiple Choice

A standby letter of credit is similar to a "simple" letter of credit except for

• A) it generally has a much longer validity period.
• B) it usually applies to more than one shipment from the exporter to the importer.
• C) it allows the exporter to extend an open account to the importer, using the letter of credit only if the importer doesn't meet its obligations.
• D) All of the above
• E) None of the above

---

Definitions:

Observable Behavior

Actions or responses that can be seen and measured directly, as opposed to internal thoughts or feelings.

Expanded Dramatically

The term "expanded dramatically" refers to a significant increase or growth in size, scope, or extent over a period of time.

Independent Variable

A variable that is manipulated or changed in an experiment to observe its effect on the dependent variable.

Virtual Accidents

Simulated accidents within a digital environment, often used in safety training or the study of human responses to emergency situations.