| 1 |
Which of the following is used to finance the people who want to travel abroad |
- A. Traveller's letter of credit
- B. Traveller's cheque
- C. Circular note
- D. All the above
|
| 2 |
What does IOU mean |
- A. I am a debtor to you
- B. I am a creditor to you
- C. Both a and b
- D. None of these
|
| 3 |
Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods |
- A. Documentary letter of credit
- B. Green-clause letter of credit
- C. Confirmed letter of credit
- D. Red-clause letter of credit
|
| 4 |
Which of the following can be cancelled by the issuing bank without the consent of the other parties |
- A. Revocable letter of credit
- B. Irrevocable letter of credit
- C. Revolving letter of credit
- D. Unconditional letter of credit
|
| 5 |
Stock certificate is a document issued by |
- A. Commercial bank
- B. Central bank
- C. Limited companies
- D. Stock-market
|
| 6 |
Which letter of credit is automatically renewed by fulfilling certain conditions |
- A. Fixed
- B. Documentary
- C. Confirmed
- D. Revolving
|
| 7 |
Which of the following gets facility due to commercial letter of credit: |
- A. Home traders
- B. Exporter
- C. Importer
- D. Both exporter and importer
|
| 8 |
Which letter of credit is issued for a single or particular transaction: |
- A. Fixed
- B. Revocable
- C. Red clause
- D. Green Clause
|
| 9 |
I Owe You is a written instrument drawn by |
- A. Trader
- B. Debtor
- C. Creditor
- D. All the above
|
| 10 |
Which of the following is useful in facilitating trade relation between the businessmen of different countries |
- A. Bank draft
- B. Money order
- C. Letter of credit
- D. Stock certificate
|
