Question # 1

In case of mortage, the property remains in the possession of:

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Lender (creditors)

Borrower (debtors)

The government

All of the above

Min. Paid up capital of scheduled Bank in Pakistan on 31st December 2011 will be.

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Rs. 05 million

Rs. 06 million

Rs. 10 Billion

Rs. 07 billion

Promissory note drawn by two or more persons is called

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Individual promissory note

Joint promissory note

Foreign promissory note

All of the above

The main sources of bank's fund are

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Own capital

Deposits

Loan from other banks

All the above

Which is the quantitative method of credit control

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Change in reserve ratio

Change in margin requirement

Selective control

Publicity

Account example from Zakat and Tax

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B.B.A. Account

Current account

Foreign Currency Account

None of these

Which of the following can be cancelled by the issuing bank without the consent of the other parties

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Revocable letter of credit

Irrevocable letter of credit

Revolving letter of credit

Unconditional letter of credit

Up to December 1965, Pakistan used method of note issue.

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Proportional Reserve system

Min. Reserve system

Fixed fiduciary system

All of these

The primary function of commercial bank are

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Accepting deposits

Advancing loans

Both a and b

None of these

The statement of Pakistan was inaugurated by:

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Liaqat-Ali-Khan

Abdul-Rub-Nishar

Quaid-e-Azam

Nawaz-Sharif

The example of non commercial letter of credit.

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Red clause L.C.

Green clause LC.

Traveler's L.C.

Documentary L.C.

Methods for making foreign payments includes.

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Letter of credit

Foreign bills of exchange

Foreing bank draft

All of these

The bill whihc is payable on its presentation is called.

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Sight bill

Time bill

Trade bill

Accommodation bill

No minimum balance limit requried in.

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Current Account

Saving Account

Foreign Account

B.B.A Account

The important types of banker's letter of credit:

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Two

Three

Four

None of these

Foreign exchange control reduces the

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Circulation of capital

Export of capital

Import of capital

None of the above

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

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