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 the developed form of red claause L.C. is.
  • A. Revocable L.C.
  • B. Green clause L.C.
  • C. Unconfirmed L.C.
  • D. All of these
2 The money sent through post office from one country to another
  • A. Traveller's cheque
  • B. Bank draft
  • C. Letter of credit
  • D. International money order
3 If the demand of any country's currency increases then rate of exchange becomes
  • A. Favorable
  • B. Unfavorable
  • C. Both a and b
  • D. None of these
4 Upper specie point is got by adding the delivery charges in following metal
  • A. Silver
  • B. Gold
  • C. Iron
  • D. Copper
5 The term foreign exchange includes
  • A. Bank draft
  • B. Letter of credit
  • C. Foreign B/E
  • D. All the above
6 Non geogibale credit instruemnt are.
  • A. Letter of credit
  • B. I.O.U
  • C. Money order
  • D. All of these
7 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
8 The bank that makes payment to the exporter after receiving L.C. is called.
  • A. Advising bank
  • B. Informatory bank
  • C. Paying bank
  • D. All of these
9 Content of money order includes.
  • A. Fixed amount
  • B. Non transferable
  • C. Identification
  • D. All of these
10 The word L.C stand for.
  • A. Long credit
  • B. Less credit
  • C. Letter of credit
  • D. None of these

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