Question # 1

Where are the stock certificates sold and bought

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At commercial bank

At central bank

At post office

At stock exchange

Commercial letter of credit is issued for the facilty of:

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Ambassadors

Common people

Businessmen

Alll of the above

I Owe You is a written instrument drawn by

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Trader

Debtor

Creditor

All the above

Which of the following is an order of payment by one post office for another post office

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Postal order

Money order

Both a and b

None of these

Which letter of credit is issued for a single or particular transaction:

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Fixed

Revocable

Red clause

Green Clause

What is the nature of credit instrument IOU

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An autograph

A monograph

A holograph

A sonograph

Which letter of credit is automatically renewed by fulfilling certain conditions

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Fixed

Documentary

Confirmed

Revolving

Which of the following is used to finance the people who want to travel abroad

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Traveller's letter of credit

Traveller's cheque

Circular note

All the above

If there is no guarantee to honour a letter of credit then it is called:

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Confirmed letter of credit

Irrevocable letter of credit

Unconfirmed letter of credit

None of the above

Which letter of credit is accompanied by some documents

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Confirmed

Documentary

Non-documentary

All the above

Which of the following gets facility due to commercial letter of credit:

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Home traders

Exporter

Importer

Both exporter and importer

If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:

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Resolving

Back to Back

Transferable

None of the above

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Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test MCQs With Answers

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