ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 11 (Non-Negotiable Instruments)

ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test

Start Chapter 11 Test

12th Class Principle of Banking Online MCQ's Test with Answers for Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 Which letter of credit is automatically renewed by fulfilling certain conditions
  • A. Fixed
  • B. Documentary
  • C. Confirmed
  • D. Revolving
2 Stock certificate is a document issued by
  • A. Commercial bank
  • B. Central bank
  • C. Limited companies
  • D. Stock-market
3 What is the nature of credit instrument IOU
  • A. An autograph
  • B. A monograph
  • C. A holograph
  • D. A sonograph
4 Which of the following parties of a letter of credit is called beneficiary
  • A. Importer
  • B. Exporter
  • C. Opening bank
  • D. Advising bank
5 Which letter of credit is issued for a single or particular transaction:
  • A. Fixed
  • B. Revocable
  • C. Red clause
  • D. Green Clause
6 Which one can be crossed :
  • A. Money order
  • B. Postal order
  • C. Credit card
  • D. All of the above
7 Which letter of credit is accompanied by some documents
  • A. Confirmed
  • B. Documentary
  • C. Non-documentary
  • D. All the above
8 If there is no guarantee to honour a letter of credit then it is called:
  • A. Confirmed letter of credit
  • B. Irrevocable letter of credit
  • C. Unconfirmed letter of credit
  • D. None of the above
9 Which of the following is an order of payment by one post office for another post office
  • A. Postal order
  • B. Money order
  • C. Both a and b
  • D. None of these
10 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

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