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	Upper specie point is got by adding the delivery charges in following metal	A. Silver B. Gold C. Iron D. Copper
2	Which party to L.C. is called beneficiary.	A. Import B. Export C. Advising bank D. Opening bank
3	The word L.C stand for.	A. Long credit B. Less credit C. Letter of credit D. None of these
4	Paying bank with respect to a letter of credit is called.	A. Advising bank B. Informatory bank C. Both these D. None of these
5	Parties involved in I.O.U	A. Three B. Four C. Two D. Five
6	What is the objective of foreign exchange control	A. To stabilize exchange rate B. To increase government revenue C. Favorable balance of payment D. All the above
7	Non geogibale credit instruemnt are.	A. Letter of credit B. I.O.U C. Money order D. All of these
8	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
9	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
10	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