Question # 1

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

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Opening bank

Buyer

Exporter

Ex porter's bank

The bill of exchange who's tenor is more than three month is.

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Sight bill of exchange

Foreign bill exchnage

Long bill exchange

Short billof exchange

Decrease in the value of home currency as compare to foreign currency.

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Inflation

Devalution

Deflation

All these

Account payee only in the transverse parallel line.

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Bearer cheque

Special crossing

General crossing

None of these

Payment of sight bill is made on.

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Demad

Fixed period

Expiry

Presentation

Retirement of bill means

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Payment of bill before due date

Dishonoring of bill due to non-payment

Protesting of bill

Dishonoring of bill due to non-acceptance

Which is the quantitative method of credit control

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Change in reserve ratio

Change in margin requirement

Selective control

Publicity

A represntative handed over cheques to other banks are called.

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Outwaard clearing

Direct cheaning

Inward Clearing

Indirect Clearing

Current account is suitable for

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Capitalists

Salaried persons

Business community

None of the above

Methods for making foreign payments includes.

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Letter of credit

Foreign bills of exchange

Foreing bank draft

All of these

Honoured cheuqe is a cheque which is

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Accepted by drawee for payment

Accepted by payee

Accepted by endorsee

All of the above

What does IOU mean

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I am a debtor to you

I am a creditor to you

Both a and b

None of these

While deposting money in your a/c you must use.

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Pay in slip

Deposit slip

Credit voucher

All of these

When was the first central bank of sub-continent established:

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1635

1732

1835

1935

The word credit has been derived from a latin word.

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Credo

Credere

Creditor

None of these

The market where foreign moneys are bought and sold is.

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Stock market

Foreign exchang markets

Open market

None of these

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