Question # 1

What is the purpose of using credit card

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To purchases goods and services

To win the prized from banks

To travel abroad

To invest the saving

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

The market in which funds are borrowed of lent for a period of over one year.

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Money market

Capital market

Open market

None of these

The rate of exchange determined by two countries following non-convertible paper currency system is a point where

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The purchasing power of currency is same

The purchasing power of currency is different

The purchasing power of currency is zero

None of the above

Which document indicates the authority and limitation of bank

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Memorandum

Articles

Certificate of incorporation

Prospectus

The loans obtained for meeting the administrative expenses and purchase of raw material are:

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Short term loans

Medium Term lonas

Long Term lonas

All of the above

Which bank account continues after the with drawal of total amount:

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Current saving

Fixed deposit

Saving account

All of the above

The number of financial institutions in money is

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Limited

Fixed

Unlimited

All are possible

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

The word Bank has been derived from the German word

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Back

Bancus

Banco

None of the above

How many institutions of money market

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6

5

4

7

What is the major reason of Pakistan's unorganized money market

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Lack of cooperation among financial institutions

Absence of democracy

Issuance of loan on political basis

All the above

Maintenance of minimum balance is not required in

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Current account

Basic banking account

Saving account

None of these

Who started the use of bank draft:

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Kings

Merchants

Money lenders

Goldsmiths

What is the objective of clearing house

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To control credit money

To clear the transactions of different banks

Training of banking staff

Re-discounting of bills

^{The charger of commercial Bank is.}

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Momorandum

Articles

Prospectus

None of these

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

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