Question # 1

The bill of exchange who's tenor is more than three month is.

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Sight bill of exchange

Foreign bill exchnage

Long bill exchange

Short billof exchange

Teh section of Banking company ordinance of Paksitan 1962 the minimum Capital Requireemnt of Scheduled Banks in or outside Pakistan is.

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Sec. 14

Sec . 13

Sec. 16

Sec. 17

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

Honoured cheuqe is a cheque which is

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Accepted by drawee for payment

Accepted by payee

Accepted by endorsee

All of the above

The document which reveals the ownership of goods kept on port:

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Bill of lading

Dock warrant

Delivery order

Railway receipt

The person in who's favor a cheque is endorsed is called.

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Endorser

Debtor

Endorsee

None of these

Which method of note issue is prevailing in Pakistan after 1965

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Min. Reserve System

Proportional system

Fixed Fiduciary system

None of the above

For customer Money deposited int Bank is.

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Liability

Asset

Saving and Asset

Expense

The various kinds of exchange rate includes.

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Official rate

Spot rate

Forward rate

All of these

In Pakistan the bank nationalized Act is.

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Act 1956

Act 1932

Act 1962

Act 1974

Bills of exchange has three:

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Owners

Parties

Shareholders

None of the above

Central bank is owned by

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Public

Government

Commercial baks

All of the above

The Governor of SBP is oppointed for.

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Five years

Four years

Three years

Two years

Documents required to conert non scheduled bank into scheduled bank.

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Memorandum of Association

Articles of Association

Audited Annual Report

All the above

Which letter of credit is automatically renewed by fulfilling certain conditions

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Fixed

Documentary

Confirmed

Revolving

Which of the following rate keeps the balance of payments in equilibrium

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Discount rate

Interest rate

Exchange rate

Market rate

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

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