Question # 1

Which party to L.C. is called beneficiary.

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Import

Export

Advising bank

Opening bank

Paying bank with respect to a letter of credit is called.

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Advising bank

Informatory bank

Both these

None of these

In L.C. the other name of importer's bank is.

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Buyer bank

Opening bank

Issuing bank

All of these

I.O.U. Is a credit instrument.

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Negotiable

Non Negotiable

Partial Negotiable

Conditional negotiable

Generally, the instruments which are used in foreign receipts and payments called

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Exchange rate

Foreign exchange

Letter of credit

All of the above

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 kind of commercial letter of credit includes.

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Revocable L.C.

Unconditional L.C.

Confirmed L.C.

All of these

The bank that makes payment to the exporter after receiving L.C. is called.

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Advising bank

Informatory bank

Paying bank

All of these

If there is no gurantee to honour the L.C. It is called.

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Documentary L.C.

Revolving L.C.

Back to back L.C.

Unconfirmed L.C.

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

Feature of postal order

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Serial no

value

Commission

All of these

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.

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

Upper specie point is got by adding the delivery charges in following metal

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Silver

Gold

Iron

Copper

Letter of credit is opened by.

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Importer 's bank

Exporter's bank

Wholse seller

None of these

Stock certificates are issued by.

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Cental bank

Stock market

Limite Company

Partnership

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