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	Postal order is the example of.	A. Negotible credit instrument B. Cash instruent C. Non negotiable credit instrument D. None of these
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	Parties involved in postal order	A. Two B. Three C. Four D. Five
5	The purpose of credit card is.	A. Sell goods B. Control credit C. Purchase goods D. None of these
6	The price of one country's currency in term other country's currency is called	A. Foreign currency B. Traveller's L.C. C. Exchange rate D. None of these
7	Content of money order includes.	A. Fixed amount B. Non transferable C. Identification D. All of these
8	I.O.U. Is a credit instrument.	A. Negotiable B. Non Negotiable C. Partial Negotiable D. Conditional negotiable
9	Features of I.O.U. are	A. Written form B. Evidence of debt C. Fixed amount D. All of these
10	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.