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	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these
2	The kind of commercial letter of credit includes.	A. Revocable L.C. B. Unconditional L.C. C. Confirmed L.C. D. All of these
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	Content of money order includes.	A. Fixed amount B. Non transferable C. Identification D. All of these
5	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.
6	Postal order is the example of.	A. Negotible credit instrument B. Cash instruent C. Non negotiable credit instrument D. None of these
7	Which of the following is a non commercial L.C.	A. Revolving L.C. B. Traveler 's cheque C. Unconfirmed L.C. D. Special L.C.
8	Non geogibale credit instruemnt are.	A. Letter of credit B. I.O.U C. Money order D. All of these
9	Which party to L.C. is called beneficiary.	A. Import B. Export C. Advising bank D. Opening bank
10	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.