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	Non geogibale credit instruemnt are.	A. Letter of credit B. I.O.U C. Money order D. All of these
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	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.
4	Features of I.O.U. are	A. Written form B. Evidence of debt C. Fixed amount D. All of these
5	I.O.U. Is a credit instrument.	A. Negotiable B. Non Negotiable C. Partial Negotiable D. Conditional negotiable
6	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
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	Foreign exchange control reduces the	A. Circulation of capital B. Export of capital C. Import of capital D. None of the above
9	Parties involvedin money order.	A. Two B. Three C. Four D. Five
10	Parties involved in postal order	A. Two B. Three C. Four D. Five