Question # 1

Which is the Primary functionof a commercial bank.

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Issue Notes

Accepting Deposits

Credit creation

None of these

the developed form of red claause L.C. is.

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Revocable L.C.

Green clause L.C.

Unconfirmed L.C.

All of these

In Paksitan BEL, NIT and ICP are credit institutions.

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Unorganized

Specialized

Non specialized

All these

Cheque is always crossed by

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Drawer

Drawee

Holder

All of the above

Who started the use of bank draft:

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Kings

Merchants

Money lenders

Goldsmiths

Draft drawn and pid in two different parties int he same country is called.

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Foreign draft

Demand draft

Local draft

None of these

A Joint Stock company opens the account in the bank.

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Saving Bank

Current Account

B.B.A. Account

Term Deposit Account

Which method or methods are prevailing in Pakistan for issuing notes

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Fixed Fiduciary System

Proportional Reserve System

Both a and b

None of the these

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

The loan which is granted by by bank to account holder on temporary basis called

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Cash credit

Overdraft

Demand loan

None of the above

These thories of foreign exchange rate include.

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Mint par parity theory

Ppurchasing power theory.

Botha a and b

All of these

State Bank of Pakistan was established on.

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Tuesday Ist July 1948

Wednesday Is July 1948

Thursday Ist July 1948

Friday Ist July 1948

"EFT" stands for

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Electronic Funds transfer

Economic financial theory

Electronic financial techniques

Effecitve fund telegram

The documents which present a summary and balance of accounts of an A/C holder in bank.

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Balance sheet

Pass book

Prospectus

Bank Staement

Saving accounts encourage the habit of saving among

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Low income persons

Investors

Business people

All of the above

Part of cash of scheduled banks kept by centrla bank as per law is called.

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Specific reserves

Satutory reserves

Gneral Reserves

All the above

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

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