Question # 1

Who does accept the responsibility for repayment debt

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Guarantor

Personal security

Both a and b

None of the these

Drawee of bank draft is.

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Creditor

Debtor

Issuing bank

Paying bank

If drawing of a cheque signs o its back for transferring the rights to another person is called

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Material change

Endorsement

Crossing

Acceptance

Bill of exchange is written order whihc is always.

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Unconditional

conditional

Compulsory

None ofthese

Money market deals in

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Promissory note

Bills of exchange

Marketable securities

All the above

Which document indicates the authority and limitation of bank

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Memorandum

Articles

Certificate of incorporation

Prospectus

Which of the followign cannot open account in a bank.

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Lunatic

Minor

Parda Nasheen woman

All of these

Which party to L.C. is called beneficiary.

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Import

Export

Advising bank

Opening bank

What is the name of central bank of Pakistan

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State Bank of Pakistan

National Bank of Pakistan

Bank of Pakistan

Habib Bank Limited

The acceptance of bill without some condition is called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

The capital of stat bank of the time of establishment was.

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Rs. 30 millions

Rs. 450 milliions

Rs.300 millions

Rs. 30 billions

Why does it necessary for a customer t sign the specimen signature card

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To match with the signatures when cheque is presented for payment

To make exercise of signatures

To complete documentary requirements

To obtain new cheque book

The other name of cash credit is.

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Overdraft

Cash finance

Runnign finance

None of these

Rapid transfer fo funds is the feature of good.

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Open market

Money market

Discount house

None of these

The transmission of following is stopped due to clearing house:

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Credit money

Metallic money

Cash money

All of the above

The loans obtained for meeting the administrative expenses and purchase of raw material are:

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Short term loans

Medium Term lonas

Long Term lonas

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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