1. The risk of default on the part of the importer is present as soon as
a. goods are received.
b. the export contract is signed.
c. goods are shipped.
d. a price quote is requested.
2. ________ factoring means the factor assumes the credit. Political and foreign exchange risk of the receivables it purchases.
a. Risky
b. Resource
c. Non-recourse
d. Recourse
3. A signed ________ is issued by the exporter and contains a precise description of the merchandise.
a. banker's acceptance
b. commercial invoice
c. bill of lading
d. packing list