1 |
The person or entity whose insurance is being done is called |
- A. insurer
- B. insured
- C. drawer
- D. lessee
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2 |
An instrument for payment issued by a bank on the request of its customer is calle |
- A. pay order
- B. cheque
- C. bank draft
- D. bill of exchange
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3 |
an order to pay money drawn by one branch of a bank upon another branch of the same bank for an amount of money payable to or order of payee or on demand is called |
- A. pay order
- B. bank
- C. bank order
- D. none of these
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4 |
The person to whom the payment is made |
- A. payee
- B. drawee
- C. lessee
- D. insured
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5 |
For withdrawal of large amount from saving account, a prior notice is required from |
- A. 1 to 7 days
- B. 7 to 15 days
- C. 15 to 20 days
- D. without any notice
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6 |
An attractive source of fund for long term lending and investment purpose is:  |
- A. Fixed account
- B. saving account
- C. current account
- D. both (B) and (C)
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7 |
In Pakistan the current account can be opened with minimum amount of |
- A. Rs.100 to Rs.500
- B. Rs.1000 to 5000
- C. Rs.5000 to 10000
- D. Both (b) and (c)
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8 |
The person who draws,s the bill of exchange is called |
- A. drawee
- B. drawer
- C. payee
- D. lessee
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9 |
The person in whose favour the bill of exchange is drawn is called |
- A. drawer
- B. payee
- C. drawee
- D. lessee
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10 |
Every year profit on profit along with principal amount is called:  |
- A. compound profit
- B. simple profit
- C. permium
- D. markup
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