Question # 1

The central bank works under the rules framed by:

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Government

People

Different banks

All of the above

The signature of the following is compulsory on B/E:

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Bank

Drawee

Drawer

Both (B) & (C)

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Exchange banks are commonly known as.

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Foreign bank

Central bank

Consortium Bank

None of these

Bank of England was established in.

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1494

1694

1920

1668

Electronic banking transaction Ordinance is.

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1974

2002

1984

1962

ATM is used to withdraw money from the

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Branch of bank in which we have the account

Any branch of concerned bank

Other banks

All the above

The word L.C stand for.

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Long credit

Less credit

Letter of credit

None of these

When two or more persons open an account under a single title is called.

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Joint Account

Single title account

B.B.A. Account

None 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

The more increase in exchange rate for a country under gold standard is called

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Lower specie point

Middle specie point

Upper specie point

None of the above

Alternation in cheque must be singed by.

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Payee

Debtor

Drawer

All of these

Quantitive methods are contral on

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Banks

Currency

Govt.

Public

Negotiable credit instruments does not includes.

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Cheque

ATM card

Draft

Promissory

In Paksitan BEL, NIT and ICP are credit institutions.

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Unorganized

Specialized

Non specialized

All these

Long term is advanced against the following security:

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Non-material

Material

Personal

All of the above

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

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