What Is a Letter of Credit

question 7

Multiple Choice

What is a letter of credit?

• A) It is an instrument issued by a bank at the request of a buyer in which the bank promises to pay a specified amount of money on presentation of documents stipulated in the letter.
• B) It is a letter which states that after the seller ships the goods, the shipping documents and the draft demanding payment should be presented to the importer through banks acting as the seller's agent.
• C) It is a set of instructions given to shipping companies who have a line of vessels.
• D) It is an instrument of currency issued by a foreign government to the exporter.

Recognize psychological disorders associated with workplace stress and trauma.

Identify effective strategies and legal steps to address workplace bullying and harassment.

Understand different components and sections of a lesson plan.

Identify activities that are considered training delivery activities.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which they seek in a pre-determined order.

Physiological

Pertaining to the branch of biology that deals with the normal functions of living organisms and their parts, including the physical and chemical processes involved.

Self-Actualisation

The achievement of realizing one's abilities and potential, viewed as an innate motivation or necessity in all individuals.

Deficit Principle

A concept indicating that the less frequently a reward is available or the less a need is satisfied, the more value or desirability that reward or satisfaction of the need has.