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	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
2	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these
3	Upper specie point is got by adding the delivery charges in following metal	A. Silver B. Gold C. Iron D. Copper
4	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
5	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
6	Letter of credit is opened by.	A. Importer 's bank B. Exporter's bank C. Wholse seller D. None of these
7	Parties involvedin money order.	A. Two B. Three C. Four D. Five
8	Paying bank with respect to a letter of credit is called.	A. Advising bank B. Informatory bank C. Both these 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	Features of I.O.U. are	A. Written form B. Evidence of debt C. Fixed amount D. All of these