| 1 |
If there is no gurantee to honour the L.C. It is called. |
- A. Documentary L.C.
- B. Revolving L.C.
- C. Back to back L.C.
- D. Unconfirmed L.C.
|
| 2 |
Transfer of money from one palce to another place with the help of post office. |
- A. Cheque
- B. Draft
- C. Money order
- D. None of these
|
| 3 |
The more increase in exchange rate for a country under gold standard is called |
- A. Lower specie point
- B. Middle specie point
- C. Upper specie point
- D. None of the above
|
| 4 |
In L.C. the other name of importer's bank is. |
- A. Buyer bank
- B. Opening bank
- C. Issuing bank
- D. All of these
|
| 5 |
The L.C. which is accompanied by some documents is called. |
- A. Documentary L.C.
- B. Revolving L.C.
- C. Back to back L.C.
- D. Simple L.C.
|
| 6 |
The word IOU means. |
- A. I am your creditor
- B. I am your debtor
- C. I am your friend
- D. None of these
|
| 7 |
The price of one country's currency in term other country's currency is called |
- A. Foreign currency
- B. Traveller's L.C.
- C. Exchange rate
- D. None of these
|
| 8 |
Postal order is the example of. |
- A. Negotible credit instrument
- B. Cash instruent
- C. Non negotiable credit instrument
- D. None of these
|
| 9 |
The rate of exchange determined by two countries following non-convertible paper currency system is a point where |
- A. The purchasing power of currency is same
- B. The purchasing power of currency is different
- C. The purchasing power of currency is zero
- D. None of the above
|
| 10 |
Letter of credit is opened by. |
- A. Importer 's bank
- B. Exporter's bank
- C. Wholse seller
- D. None of these
|
