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	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.
2	the developed form of red claause L.C. is.	A. Revocable L.C. B. Green clause L.C. C. Unconfirmed L.C. D. All of these
3	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
4	Features of I.O.U. are	A. Written form B. Evidence of debt C. Fixed amount D. All of these
5	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
6	Parties involved in postal order	A. Two B. Three C. Four D. Five
7	Upper specie point is got by adding the delivery charges in following metal	A. Silver B. Gold C. Iron D. Copper
8	Which party of the L.C. is called beneficiary.	A. Opening bank B. Buyer C. Exporter D. Ex porter's bank
9	The term foreign exchange includes	A. Bank draft B. Letter of credit C. Foreign B/E D. All the above
10	Letter of credit state a limit of.	A. Credit B. Time period C. Bank D. None of these