Question # 1

Which of the following theories is associated with the working of international gold standard

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Mint par parity theory

Purchasing power theory

Balance of payments theory

All of the above

I.O.U. Is a credit instrument.

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Negotiable

Non Negotiable

Partial Negotiable

Conditional negotiable

The rate of exchange determined by two countries following non-convertible paper currency system is a point where

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The purchasing power of currency is same

The purchasing power of currency is different

The purchasing power of currency is zero

None of the above

The L.C. which is accompanied by some documents is called.

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Documentary L.C.

Revolving L.C.

Back to back L.C.

Simple L.C.

Which of the following nature does IOU have.

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An authograph

A monograph

A sonograph

A holograph

The word L.C stand for.

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Long credit

Less credit

Letter of credit

None of these

the developed form of red claause L.C. is.

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Revocable L.C.

Green clause L.C.

Unconfirmed L.C.

All of these

The Kiind of non commercial letter of credit includes.

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Traveler L.C.

Circular note

Credit card

All of these

Which of the following changes cause to change in foreign exchange rate

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Change in export and imports

Change in capital flow

Change in bank rate

All the above

Postal order is the example of.

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Negotible credit instrument

Cash instruent

Non negotiable credit instrument

None of these

The price of one country's currency in term other country's currency is called

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Foreign currency

Traveller's L.C.

Exchange rate

None of these

The term foreign exchange includes

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Bank draft

Letter of credit

Foreign B/E

All the above

Which party of the L.C. is called beneficiary.

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Opening bank

Buyer

Exporter

Ex porter's bank

Foreign exchange control reduces the

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Circulation of capital

Export of capital

Import of capital

None of the above

Parties involved in I.O.U

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Three

Four

Two

Five

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