Question # 1

It is the right of a customer to.

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Draw cheque

Receive pass book

Receive cheque book

All these

What is meant by hypothecation

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To hand over the goods or documents of title to goods by a customer to the bank as a security against a debt

To hand over the documents of property by a customer until the repayment of debt

A type of security in which neither the ownership nor the possession passes to the bank

A receipt of loan which shows that money has been borrowed against an immovable property as a security

Short term monetary assets are also called as.

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Marketbale debt securities.

Near money

Short term monetary assets

All these

Dr. Shamshad Akhter is the Governor of State Bank of Pakistan.

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12th

13th

14th

15th

Normally bank does not pay intrest on

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Saving Account

Fixed Deposit Account

Current Account

B.B.A. Account

Scheduled bank is registered under state bank of Pakistan Act

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1965

1956

1950

None of the above

Main parties in bill of exchang are.

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Three

Two

Four

Five

The bill whihc is payable on its presentation is called.

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Sight bill

Time bill

Trade bill

Accommodation bill

Over draft facility is only provided on:

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Current account

Fixed deposit

Saving account

All of the above

Account example from Zakat and Tax

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B.B.A. Account

Current account

Foreign Currency Account

None of these

What is common between bank and customer

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Account no.

Cheque no.

Serial no

Drawee

Electronic banking transaction Ordinance is.

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1974

2002

1984

1962

Which of the following banks performs its functions according to the instructions of central bank

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Foreign bank

Scheduled bank

Non-scheduled bank

All the above

Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods

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Documentary letter of credit

Green-clause letter of credit

Confirmed letter of credit

Red-clause letter of credit

Promissory note means a:

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Promise to pay fixed amount on fixed date

Promise to pay currency notes on fixed date

Promise to pay goods on fixed date

All of the above

Features of I.O.U. are

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Written form

Evidence of debt

Fixed amount

All of these

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

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