Question # 1

Who was the founder of commercial bank

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Goldsmiths

Merchants

Money lenders

All the above

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

Which method or methods are prevailing in Pakistan for issuing notes

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Fixed Fiduciary System

Proportional Reserve System

Both a and b

None of the these

In L.C. the other name of importer's bank is.

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Buyer bank

Opening bank

Issuing bank

All of these

Bank of England was formed in:

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1594

1694

1794

1894

Commercial bank can be regarded by nature as

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Depository bank

Central bank

Investment bank

None of the above

Modern central banking system started in

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18th Century

19th Century

20th Century

None of these

Essentials of successfl banking.

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Large capital

Secured loans

Inflation

Both of these

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Example of consortium Bank.

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SBP

Orion Bank

MCB

NBP

What does IOU mean

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I am a debtor to you

I am a creditor to you

Both a and b

None of these

The person who opens a bank account is called:

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Owner of bank

Customer of bank

Employee of bank

None of them

Under fixed fiduciary system, if notes are issued in excess of fiduciary limit then how much value of precious metal or foreign exchange is kept as reserve for over issue

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5%

10%

30%

100%

What is common between bank and customer

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Account no.

Cheque no.

Serial no

Drawee

The main uses of bank funds are.

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Cash reserve

Granting loan

Issuing shares

None of these

Bill brokers and discount houses work in.

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_{Open market}

Capital market

Money Market

None of these

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

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