Question # 1

The purpose of credit card is.

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Sell goods

Control credit

Purchase goods

None of these

Where is the head office of IDBP:

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Lahore

Faisalabad

Islamabad

Karachi

Memorandum includes

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05 Clasuses

06 Clauses

10 Clauses

12 Clauses

The person who accepts the bill of exchang is.

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Debtor

Drawer

Payee

None of these

Safest cheque for making payment is:

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Crossed cheque

Order cheque

Bearer cheque

All of the above

Which of the following parties of a letter of credit is called beneficiary

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Importer

Exporter

Opening bank

Advising bank

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

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Endorser

Debtor

Endorsee

None of these

The word credit has been derived from a latin word.

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Credo

Credere

Creditor

None of these

The loan given against some security are known as.

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Unsecured loans

Demand loans

Secured loans

All the above

The price of one country's currency in term other country's currency is called

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Foreign currency

Traveller's L.C.

Exchange rate

None of these

Running Finance is also known as.

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Saving Account

Current Account

Overdraft

Fixed Account

Bank or incomplete bill is called.

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Foreign bill

Local bill

Short bill

Dishonored bill

Commercial bank create money.

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Metallic

Credit

Paper

All these

Rate of interest in case of fixed deposit is

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Low

High

Both

None of the above

How many merits of credit card

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7

8

9

10

Which bank does discount the bills of public

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Commercial bank

Agricultural bank

Industrial bank

All of the above

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