Question # 1

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

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Opening bank

Buyer

Exporter

Ex porter's bank

Content of money order includes.

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Fixed amount

Non transferable

Identification

All of these

Paying bank with respect to a letter of credit is called.

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Advising bank

Informatory bank

Both these

None of these

What is the objective of foreign exchange control

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To stabilize exchange rate

To increase government revenue

Favorable balance of payment

All the above

The word IOU means.

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I am your creditor

I am your debtor

I am your friend

None of these

Which of the following is a non commercial L.C.

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Revolving L.C.

Traveler 's cheque

Unconfirmed L.C.

Special L.C.

The Kiind of non commercial letter of credit includes.

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Traveler L.C.

Circular note

Credit card

All of these

The bank that makes payment to the exporter after receiving L.C. is called.

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Advising bank

Informatory bank

Paying bank

All of these

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

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Cheque

Draft

Money order

None of these

Which of the following theories is associated with the working of international gold standard

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Mint par parity theory

Purchasing power theory

Balance of payments theory

All of the above

Letter of credit state a limit of.

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Credit

Time period

Bank

None of these

In L.C. the other name of exporter's bank is.

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Paying bank

Advising bank

Negotiating bank

All of these

Upper specie point is got by adding the delivery charges in following metal

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Silver

Gold

Iron

Copper

Which party to L.C. is called beneficiary.

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Import

Export

Advising bank

Opening bank

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

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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

If the demand of any country's currency increases then rate of exchange becomes

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Favorable

Unfavorable

Both a and b

None of these

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