Wednesday, June 10, 2015

Day 51 - Questions


Day 51 - NOSTRO, VOSTRO, LORO

( NOSTRO, VOSTRO, LORO Accouints )


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1.  Which of the following is true regarding NOSTRO Accounts?
a.  Domestic bank account maintained in a foreign country with a foreign bank
b.  Foreign bank account maintained in our country with a domestic bank
c.  Third party bank account maintained in a foreign country with a foreign bank
d.  None of the above

2.  Which of the following is true regarding VOSTRO Accounts?
a.  Domestic bank account maintained in a foreign country with a foreign bank
b.  Foreign bank account maintained in our country with a domestic bank
c.  Third party bank account maintained in a foreign country with a foreign bank
d.  None of the above

3.  Which of the following is true regarding LORO Accounts?
a.  Domestic bank account maintained in a foreign country with a foreign bank
b.  Foreign bank account maintained in our country with a domestic bank
c.  Third party bank account maintained in a foreign country with a foreign bank
d.  None of the above

4.  Which of the following best suits with NOSTRO Accounts?
a.  "Out account with you"
b.  "Your account with us"
c.  "Their account with them"
d.  None of the above

5.  Which of the following best suits with VOSTRO Accounts?
a.  "Out account with you"
b.  "Your account with us"
c.  "Their account with them"
d.  None of the above

6.  Which of the following best suits with LORO Accounts?
a.  "Out account with you"
b.  "Your account with us"
c.  "Their account with them"
d.  None of the above

7.  Which of the following account is/are generally maintained in Indian currency (INR)?
a.  NOSTRO
b.  VOSTRO 
c.  LORO
d.  Both (a) and (c)

8.  Which of the following account is/are generally maintained in foreign currencies?
a.  NOSTRO
b.  VOSTRO 
c.  LORO
d.  Both (a) and (c) 



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