Question # 1

How many benefits of customers

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5

6

7

8

What does the bank receive on issuing a letter of credit:

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Profit

Interest

Commission

Duty

The loan given against some security are known as.

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Unsecured loans

Demand loans

Secured loans

All the above

The example of non commercial letter of credit.

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Red clause L.C.

Green clause LC.

Traveler's L.C.

Documentary L.C.

Choose the correct institutions in money market in Pakistan

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State bank of Pakistan

Specialized credit institutions

Commercial banks

All of the above

Person who recieves the amount of cheque from bank is called:

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Drawee

Payee

Endorsee

All of the above

The bank that makes payment to the exporter after receiving L.C. is called.

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Advising bank

Informatory bank

Paying bank

All of these

Drawer and payee of inland promissory note belong to

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Same country

Different countries

Different cities

None of the above

If a credit card is lost, what should the holder do.

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Report to employer

Report to bank

Report to insurance co.

All the above

Any Co.which transact the business of banking in Pakistan.

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Chartered co.

Joint stock co.

Banking co.

All of these

The demand for foreign exchange comes when.

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Purchases of foreign securites

Students go abroad

Goods are imported

All of these

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

Alternation in cheque must be singed by.

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Payee

Debtor

Drawer

All of these

In Islamic banking overdraft means.

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Debit balance

Running finance

Favorable balnce

Nil Balance

The bills of exchange which is paid after the expiry of fixed period of time called

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Accommodation bill

Sight bill

Time bill

All of the above

Qualitative methods are control over.

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Currency

Govt

Banks

Public

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

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