12th Class ICom Part 2 Principles of Banking Chapter Wise Online MCQ Test with answers PDF English Medium

Principles of Banking Icom Part 2 English Medium Online Test

Sr. #	Questions	Answers Choice
1	The first stage or step between importer and exporter for the purpose of sale and purchase is:	Oath or undertaking Agreement Contract with bank Issuing of L.C
2	Which one can be crossed :	Money order Postal order Credit card All of the above
3	The important types of banker's letter of credit:	Two Three Four None of these
4	The letter of credit which can be endorsed to another person is called:	Special L.C Transferable L.C Resolving L.C None of the above
5	Which of the following gets facility due to commercial letter of credit:	Home traders Exporter Importer Both exporter and importer
6	Which letter of credit is issued for a single or particular transaction:	Fixed Revocable Red clause Green Clause
7	Commercial letter of credit is issued for the facilty of:	Ambassadors Common people Businessmen Alll of the above
8	If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:	Resolving Back to Back Transferable None of the above
9	What does the bank receive on issuing a letter of credit:	Profit Interest Commission Duty
10	What is recieved by the post office on money order:	Profit Interest Commision All of the above
11	If there is no guarantee to honour a letter of credit then it is called:	Confirmed letter of credit Irrevocable letter of credit Unconfirmed letter of credit None of the above
12	The signature of the following is compulsory on B/E:	Bank Drawee Drawer Both (B) & (C)
13	Grace days are given to debtor for the patment of:	Bills of exchange Promissory note Treasury bill Cheque
14	Bills of exchange has three:	Owners Parties Shareholders None of the above
15	Bills of exchange can be cashed from bank before maturity by:	Overdraft Renewal Discounting None of the above

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