Question # 1

Which is demanded by a bank at the time of opening new account

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Birth certificate

Source of income

Educational qualification

All of the above

Which one is the primary function of a bank

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Accepting deposits

Advancing loans

Both these

None of these

In how many days would a schque between banks clear through the clearing system.

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7 days

3 days

10 days

5 days

If the quatity of money in circulation increases then this situation is called:

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Inflation

Deflation

Money market

All of the above

Bills of exchange is a negotiable instrument which contains

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A written order

Conditional written order

Unconditional written order

None of the above

Endorsee of cheque is a person

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Who receives the amount of cheque

In whose favour the rights of cheque are transferred

On whom the cheque is drawn

Who draws a cheque

The money deposited in the bank is considered by a customer as

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Asset

Liability

Investment

Saving

The loans on which high rate of interest is charged :

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Medium term loans

Long term loans

Short term loans

Demand loans

For customer Money deposited int Bank is.

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Liability

Asset

Saving and Asset

Expense

The main sources of bank's fund are

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Own capital

Deposits

Loan from other banks

All the above

Cheque consists of future date is called.

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Out date

Post dated

Anti dated

None of these

When was the process of Islamization of banking started in Pakistan

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1977

1980

1982

Which is the quantitative method of credit control

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Change in reserve ratio

Change in margin requirement

Selective control

Publicity

The following bank can open its branch in foreign country

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Scheduled bank

Non-scheduled bank

Both a and b

None of the these

In Pakistan the bank nationalized Act is.

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Act 1956

Act 1932

Act 1962

Act 1974

Transfer of money from one palce to another place with the help of post office.

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Cheque

Draft

Money order

None of these

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

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