BlackFriday 2024! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

CIPS Exam A9 Topic 1 Question 55 Discussion

Actual exam question for CIPS's A9 exam
Question #: 55
Topic #: 1
[All A9 Questions]

For relatively small value purchases, which of the following is the most desirable method of payment for an international buyer?

Show Suggested Answer Hide Answer
Suggested Answer: D

by Blondell at Apr 14, 2024, 09:40 AM

Limited Time Offer

25%

Off

Get Premium A9 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Laquanda
5 months ago
I think using a bill of exchange is the most cost-effective method for small purchases.
upvoted 0 times
...
Kenneth
5 months ago
I prefer open account, it gives more flexibility and trust between buyer and seller.
upvoted 0 times
...
Jani
6 months ago
I disagree with that, I believe using a letter of credit is more secure for both parties.
upvoted 0 times
...
Yun
6 months ago
I think for small purchases, payment in advance would be the best option.
upvoted 0 times
...
Nickolas
6 months ago
But with Open account, there is higher risk for the seller.
upvoted 0 times
...
Jeanice
6 months ago
I would choose Open account because it allows for more flexibility in payment timings.
upvoted 0 times
...
Dominga
6 months ago
I agree. Letter of credit provides security for both the buyer and seller.
upvoted 0 times
...
Mabel
6 months ago
I think Letter of credit would be the most desirable method of payment.
upvoted 0 times
...
Janella
7 months ago
Ah, the age-old debate: do you trust your international buyer or not? I'm with Magda on this one. Better safe than sorry when it comes to my hard-earned money.
upvoted 0 times
...
Magda
7 months ago
You guys are overthinking this. The answer is clearly A, payment in advance. Why risk it with open account when you can just get the cash upfront? Safety first!
upvoted 0 times
...
Jamie
7 months ago
I was torn between B and C, but I think open account makes the most sense. Less paperwork and red tape to deal with. Plus, who doesn't love a little international credit?
upvoted 0 times
...
Jesusa
7 months ago
Hmm, I'm leaning towards option C, open account. It seems the most convenient and flexible for small purchases, as long as you trust the buyer. What do you all think?
upvoted 0 times
...
Eugene
7 months ago
Come on, this is a classic international trade question. We should all be familiar with these payment options by now. I'm ready to tackle this one.
upvoted 0 times
Rikki
6 months ago
C) Open account
upvoted 0 times
...
Eladia
6 months ago
B) Letter of credit
upvoted 0 times
...
Erick
6 months ago
A) Payment in advance
upvoted 0 times
...
...
Levi
7 months ago
I'm not a fan of this question. It seems too focused on specific payment methods rather than broader international business concepts. I'd prefer a more open-ended question that tests our understanding of the overall import/export process.
upvoted 0 times
...

Save Cancel