Question # 1

The rate of exchange determined by two countries following non-convertible paper currency system is a point where

Choose an answer

The purchasing power of currency is same

The purchasing power of currency is different

The purchasing power of currency is zero

None of the above

the developed form of red claause L.C. is.

Choose an answer

Revocable L.C.

Green clause L.C.

Unconfirmed L.C.

All of these

Which method is mostly used in making foreign payment

Choose an answer

Foreign bills of exchange

By post

By telegraph

None of these

Feature of postal order

Choose an answer

Serial no

value

Commission

All of these

Letter of credit is opened by.

Choose an answer

Importer 's bank

Exporter's bank

Wholse seller

None of these

The purpose of credit card is.

Choose an answer

Sell goods

Control credit

Purchase goods

None of these

The kind of commercial letter of credit includes.

Choose an answer

Revocable L.C.

Unconditional L.C.

Confirmed L.C.

All of these

Which party of the L.C. is called beneficiary.

Choose an answer

Opening bank

Buyer

Exporter

Ex porter's bank

The change in demand and supply of foreign currency effects

Choose an answer

Exchange rate

Traveller's L.C

Letter of credit

None of these

Features of I.O.U. are

Choose an answer

Written form

Evidence of debt

Fixed amount

All of these

What is the objective of foreign exchange control

Choose an answer

To stabilize exchange rate

To increase government revenue

Favorable balance of payment

All the above

Which party to L.C. is called beneficiary.

Choose an answer

Import

Export

Advising bank

Opening bank

The word L.C stand for.

Choose an answer

Long credit

Less credit

Letter of credit

None of these

Postal order is the example of.

Choose an answer

Negotible credit instrument

Cash instruent

Non negotiable credit instrument

None of these

Transfer of money from one palce to another place with the help of post office.

Choose an answer

Cheque

Draft

Money order

None of these

More Classes

Other Links

Principles of Banking Icom Part 2 English Medium Chapter 12 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer