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	Parties involved in I.O.U	A. Three B. Four C. Two D. Five
2	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
3	Letter of credit is opened by.	A. Importer 's bank B. Exporter's bank C. Wholse seller D. None of these
4	The kind of commercial letter of credit includes.	A. Revocable L.C. B. Unconditional L.C. C. Confirmed L.C. D. All of these
5	Features of I.O.U. are	A. Written form B. Evidence of debt C. Fixed amount D. All of these
6	Which of the following nature does IOU have.	A. An authograph B. A monograph C. A sonograph D. A holograph
7	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.
8	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
9	Which party to L.C. is called beneficiary.	A. Import B. Export C. Advising bank D. Opening bank
10	Stock certificates are issued by.	A. Cental bank B. Stock market C. Limite Company D. Partnership