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	Which of the following theories is associated with the working of international gold standard	A. Mint par parity theory B. Purchasing power theory C. Balance of payments theory D. All of the above
2	The example of non commercial letter of credit.	A. Red clause L.C. B. Green clause LC. C. Traveler's L.C. D. Documentary L.C.
3	Which party of the L.C. is called beneficiary.	A. Opening bank B. Buyer C. Exporter D. Ex porter's bank
4	In L.C. the other name of exporter's bank is.	A. Paying bank B. Advising bank C. Negotiating bank D. All of these
5	Which party to L.C. is called beneficiary.	A. Import B. Export C. Advising bank D. Opening bank
6	Which of the following rate keeps the balance of payments in equilibrium	A. Discount rate B. Interest rate C. Exchange rate D. Market rate
7	The change in demand and supply of foreign currency effects	A. Exchange rate B. Traveller's L.C C. Letter of credit D. None of these
8	Letter of credit is opened by.	A. Importer 's bank B. Exporter's bank C. Wholse seller D. None of these
9	Content of money order includes.	A. Fixed amount B. Non transferable C. Identification D. All of these
10	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