11th Chapter

12th Principles of Banking Chapter 11 Test

Here you can prepare 12th Class Principles of Banking Chapter 11 Non-Negotiable Instruments Test. Click the button for 100% free full practice test.

12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

This online test contains MCQs about following topics:

. Banker's letters of credit . Money order . Postal order . I owe you(I.O.U) . Stock certificate

ICOM Part 2 Banking Ch 11 Test
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12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 The letter of credit which can be endorsed to another person is called:
  • A. Special L.C
  • B. Transferable L.C
  • C. Resolving L.C
  • D. None of the above
2 IOU is a document
  • A. Negotiable
  • B. Non-negotiable
  • C. Conditional negotiable
  • D. Unconditional negotiable
3 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
4 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
5 I Owe You is a written instrument drawn by
  • A. Trader
  • B. Debtor
  • C. Creditor
  • D. All the above
6 Which letter of credit is accompanied by some documents
  • A. Confirmed
  • B. Documentary
  • C. Non-documentary
  • D. All the above
7 If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:
  • A. Resolving
  • B. Back to Back
  • C. Transferable
  • D. None of the above
8 Commercial letter of credit is issued for the facilty of:
  • A. Ambassadors
  • B. Common people
  • C. Businessmen
  • D. Alll of the above
9 Which of the following parties of a letter of credit is called beneficiary
  • A. Importer
  • B. Exporter
  • C. Opening bank
  • D. Advising bank
10 Which one can be crossed :
  • A. Money order
  • B. Postal order
  • C. Credit card
  • D. All of the above

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