Question # 1

Crossing of cheque is cancelled by

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Drawer

Drawee

Holder

All of the above

The other name of credit woucher is.

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Credit note

Cash credit

pay in slip

Debit note

When bank provides finance to its customer under an agreement of Modaraba, the customer becomes

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Consumer

Zarib

Aamal

None of the above

Clubs, cooperative societies, and associations etc. are entitled as following concern

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Partnership

Non-trading

Trading

All the above

Popular types of loan issued by the bank according to term are

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Two

Three

Four

Five

According to Sir John Paget, a bank is an institution which :

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Accepts the deposits of general public

Honours the cheques

Advances loan

All of the above

The rate at which commercial banks and centrla bank buys and sells foreign currency.

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Bank Rate

Inter Bank rate

Intrest rate

Discount rate

The important (basic) kinds of accounts opened in commercial banks are:

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Two

Three

Four

countless

In Pakistan, the interest free modes of financing have been divided into

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Two groups

Three groups

Four groups

None of these

Services provided by on line banking

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Depositing the money into the account

Withdrawal the money from bank

Transfer of money

All the above

It is necessary for scheduled bank to

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Act on the instructions of central bank

Submit report to central bank

Get the books checked

Al the above

Which is teh secondary function of commercial bank.

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Accepting deposits

Advancing loans

Collection of cheques

All of these

Money market is a market of loans for

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Short term

Medium term

Long term

All the above

In the presence of cleairng house the use of cash transactions between banks

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Increases

Decreases

Stops

NO effect

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

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

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