Question # 1

The L.C. which is accompanied by some documents is called.

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Documentary L.C.

Revolving L.C.

Back to back L.C.

Simple L.C.

The word IOU means.

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I am your creditor

I am your debtor

I am your friend

None 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

Features of I.O.U. are

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Written form

Evidence of debt

Fixed amount

All of these

The price of one country's currency in term other country's currency is called

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Foreign currency

Traveller's L.C.

Exchange rate

None of these

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

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Silver

Gold

Iron

Copper

Letter of credit state a limit of.

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Credit

Time period

Bank

None of these

The money sent through post office from one country to another

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Traveller's cheque

Bank draft

Letter of credit

International money order

Which of the following rate keeps the balance of payments in equilibrium

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Discount rate

Interest rate

Exchange rate

Market rate

Generally, the instruments which are used in foreign receipts and payments called

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Exchange rate

Foreign exchange

Letter of credit

All of the above

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

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Buyer bank

Opening bank

Issuing bank

All of these

Parties involved in I.O.U

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Three

Four

Two

Five

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

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Paying bank

Advising bank

Negotiating bank

All of these

If there is no gurantee to honour the L.C. It is called.

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Documentary L.C.

Revolving L.C.

Back to back L.C.

Unconfirmed L.C.

Non geogibale credit instruemnt are.

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Letter of credit

I.O.U

Money order

All of these

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

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Revocable L.C.

Green clause L.C.

Unconfirmed L.C.

All of these

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

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