12th class Principle of Banking chapter 12 online mcq test with answers for ICom part 2 Principle of Banking Chapter 12 (Foreign Exchange Transaction)

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Sr.#	Question	Answer
1	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
2	The word IOU means.	A. I am your creditor B. I am your debtor C. I am your friend D. None of these
3	The bank that makes payment to the exporter after receiving L.C. is called.	A. Advising bank B. Informatory bank C. Paying bank D. All of these
4	Letter of credit is opened by.	A. Importer 's bank B. Exporter's bank C. Wholse seller D. None of these
5	In L.C. the other name of exporter's bank is.	A. Paying bank B. Advising bank C. Negotiating bank D. All of these
6	Which of the following changes cause to change in foreign exchange rate	A. Change in export and imports B. Change in capital flow C. Change in bank rate D. All the above
7	Parties involved in postal order	A. Two B. Three C. Four D. Five
8	I.O.U. Is a credit instrument.	A. Negotiable B. Non Negotiable C. Partial Negotiable D. Conditional negotiable
9	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these
10	Which of the following nature does IOU have.	A. An authograph B. A monograph C. A sonograph D. A holograph