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 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
2	Generally, the instruments which are used in foreign receipts and payments called	A. Exchange rate B. Foreign exchange C. Letter of credit D. All of the above
3	The word IOU means.	A. I am your creditor B. I am your debtor C. I am your friend D. None of these
4	Non geogibale credit instruemnt are.	A. Letter of credit B. I.O.U C. Money order D. All of these
5	Which method is mostly used in making foreign payment	A. Foreign bills of exchange B. By post C. By telegraph D. None of these
6	Which of the following rate keeps the balance of payments in equilibrium	A. Discount rate B. Interest rate C. Exchange rate D. Market rate
7	Which of the following nature does IOU have.	A. An authograph B. A monograph C. A sonograph D. A holograph
8	The word L.C stand for.	A. Long credit B. Less credit C. Letter of credit D. None of these
9	The term foreign exchange includes	A. Bank draft B. Letter of credit C. Foreign B/E D. All the above
10	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