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	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these
2	Which method is mostly used in making foreign payment	A. Foreign bills of exchange B. By post C. By telegraph D. None of these
3	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
4	Parties involved in I.O.U	A. Three B. Four C. Two D. Five
5	I.O.U. Is a credit instrument.	A. Negotiable B. Non Negotiable C. Partial Negotiable D. Conditional negotiable
6	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
7	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.
8	The word L.C stand for.	A. Long credit B. Less credit C. Letter of credit D. None of these
9	The word IOU means.	A. I am your creditor B. I am your debtor C. I am your friend D. None of these
10	Stock certificates are issued by.	A. Cental bank B. Stock market C. Limite Company D. Partnership