Question # 1

I Owe You is a written instrument drawn by

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Trader

Debtor

Creditor

All the above

Stock certificate is a document issued by

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Commercial bank

Central bank

Limited companies

Stock-market

The important types of banker's letter of credit:

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Two

Three

Four

None of these

Commercial letter of credit is issued for the facilty of:

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Ambassadors

Common people

Businessmen

Alll of the above

Which letter of credit is accompanied by some documents

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Confirmed

Documentary

Non-documentary

All the above

Which letter of credit is issued for a single or particular transaction:

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Fixed

Revocable

Red clause

Green Clause

Which letter of credit is automatically renewed by fulfilling certain conditions

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Fixed

Documentary

Confirmed

Revolving

If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:

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Resolving

Back to Back

Transferable

None of the above

Which of the following gets facility due to commercial letter of credit:

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Home traders

Exporter

Importer

Both exporter and importer

The letter of credit which can be endorsed to another person is called:

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Special L.C

Transferable L.C

Resolving L.C

None of the above

What does IOU mean

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I am a debtor to you

I am a creditor to you

Both a and b

None of these

What is recieved by the post office on money order:

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Profit

Interest

Commision

All of the above

What does the bank receive on issuing a letter of credit:

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Profit

Interest

Commission

Duty

Which of the following parties of a letter of credit is called beneficiary

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Importer

Exporter

Opening bank

Advising bank

Which of the following can be cancelled by the issuing bank without the consent of the other parties

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Revocable letter of credit

Irrevocable letter of credit

Revolving letter of credit

Unconditional letter of credit

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