ICOM Part 2 English Medium Principles of Banking Chapter 12 MCQ's Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 12 (Foreign Exchange Transaction)

ICOM Part 2 English Medium Principles of Banking Chapter 12 MCQ's Test

Start Chapter 12 Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 12 (Foreign Exchange Transaction)

Sr. # Questions Answers Choice
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

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