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 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
2	I.O.U. Is a credit instrument.	A. Negotiable B. Non Negotiable C. Partial Negotiable D. Conditional negotiable
3	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
4	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.
5	Parties involved in postal order	A. Two B. Three C. Four D. Five
6	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
7	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these
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	The purpose of credit card is.	A. Sell goods B. Control credit C. Purchase goods D. None of these
10	Content of money order includes.	A. Fixed amount B. Non transferable C. Identification D. All of these