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Online Tests
Principles of Banking Icom Part 2 English Medium Online Test MCQs With Answers
Question # 1
Which party of the L.C. is called beneficiary.
Choose an answer
Opening bank
Buyer
Exporter
Ex porter's bank
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Question # 2
The bill of exchange who's tenor is more than three month is.
Choose an answer
Sight bill of exchange
Foreign bill exchnage
Long bill exchange
Short billof exchange
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Question # 3
Decrease in the value of home currency as compare to foreign currency.
Choose an answer
Inflation
Devalution
Deflation
All these
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Question # 4
Account payee only in the transverse parallel line.
Choose an answer
Bearer cheque
Special crossing
General crossing
None of these
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Question # 5
Payment of sight bill is made on.
Choose an answer
Demad
Fixed period
Expiry
Presentation
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Question # 6
Retirement of bill means
Choose an answer
Payment of bill before due date
Dishonoring of bill due to non-payment
Protesting of bill
Dishonoring of bill due to non-acceptance
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Question # 7
Which is the quantitative method of credit control
Choose an answer
Change in reserve ratio
Change in margin requirement
Selective control
Publicity
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Question # 8
A represntative handed over cheques to other banks are called.
Choose an answer
Outwaard clearing
Direct cheaning
Inward Clearing
Indirect Clearing
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Question # 9
Current account is suitable for
Choose an answer
Capitalists
Salaried persons
Business community
None of the above
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Question # 10
Methods for making foreign payments includes.
Choose an answer
Letter of credit
Foreign bills of exchange
Foreing bank draft
All of these
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Question # 11
Honoured cheuqe is a cheque which is
Choose an answer
Accepted by drawee for payment
Accepted by payee
Accepted by endorsee
All of the above
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Question # 12
What does IOU mean
Choose an answer
I am a debtor to you
I am a creditor to you
Both a and b
None of these
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Question # 13
While deposting money in your a/c you must use.
Choose an answer
Pay in slip
Deposit slip
Credit voucher
All of these
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Question # 14
When was the first central bank of sub-continent established:
Choose an answer
1635
1732
1835
1935
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Question # 15
The word credit has been derived from a latin word.
Choose an answer
Credo
Credere
Creditor
None of these
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Question # 16
The market where foreign moneys are bought and sold is.
Choose an answer
Stock market
Foreign exchang markets
Open market
None of these
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