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 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
2	Which of the following theories is associated with the working of international gold standard	A. Mint par parity theory B. Purchasing power theory C. Balance of payments theory D. All of the above
3	Parties involved in I.O.U	A. Three B. Four C. Two D. Five
4	Transfer of money from one palce to another place with the help of post office.	A. Cheque B. Draft C. Money order D. None of these
5	Which party to L.C. is called beneficiary.	A. Import B. Export C. Advising bank D. Opening bank
6	The purpose of credit card is.	A. Sell goods B. Control credit C. Purchase goods D. None of these
7	Postal order is the example of.	A. Negotible credit instrument B. Cash instruent C. Non negotiable credit instrument D. None of these
8	Which of the following changes cause to change in foreign exchange rate	A. Change in export and imports B. Change in capital flow C. Change in bank rate D. All the above
9	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
10	Upper specie point is got by adding the delivery charges in following metal	A. Silver B. Gold C. Iron D. Copper