Professional Documents
Culture Documents
Q: A banking company can engage itself in which of the following businesses under section 7
of Banking Companies Ordinance, 1962?
A Hypothecation
B Mortgage
C Lien
D Pledge --- True
Q: In letter of credit, which of the following is payable as soon as it is presented for payment?
A Demand draft
B Time draft
C Sight draft --- True
D Order draft
A Cash in safe
B Balance with SBP
C Investment in microfinance bank
D All of the above --- True
Q: A market in which competition among buyers and sellers sets the terms of trade is a:
A primary market
B forward market
C efficient market
D perfect market --- True
Q: A banking company can engage itself in which of the following businesses under section 7
of Banking Companies Ordinance, 1962?
A Transfer of shares
B Alteration of share capital
C Authorized capital --- True
D Dividend
Pakistan used Indian currency notes with Pakistan stamped on them till 1948. ---
A
True
B Used British currency till first issuance of Pakistani currency,
C Immediately start issuing the Pakistani own currency i.e. coins and notes
D Used gold and silver as medium of exchange in Pakistan.
A 1979
B 1998
C 2002
D 2005 --- True
A was decimalized on 1st January 1971 with one 'rupee' subdivided into 100 paisa.
B was decimalized on 1st January 1974 with one 'rupee' subdivided into 100 paisa.
C was decimalized on 1st January 1961 with one 'rupee' subdivided into 100 paisa.---
True
D was decimalized on 1st January 1948 with one 'rupee' subdivided into 100 paisa.
A Government of Pakistan till 1980 and then taken over by SBP --- True
B SBP from 1948
C Bank of India and then taken over by SBP in 1953
D Bank of India till establishment of SBP
Q: Two rupees coin was introduced in Pakistan in:
A 1979
B 1998 --- True
C 2002
D 2005
A 1979
B 2006 --- True
C 2002
D 2005
Q: Minor cant open account with bank without guardian because of:
Q: Islamic Banking promote risk-sharing between provider of capital and user of funds.
Q: Which type of risk refers to the inability of the buyer to honor full payment of goods or
services rendered on the due date?
A Economic Risk
B Buyer's insolvency risk --- True
C Transit risk
D Currency risk
Q: In deferred payment L/C the payment will be made by the issuing bank to Exporter bank
A UCP-600
B URR-525
C URC-522 --- True
Q: When customer avails lockers facility, the relation between banker and customer is:
A Agent - Principal
B Bailor - Bailee --- True
C Debtor - Creditor
D Licenser - Licensee
Q: One who request the bank for issuance of L/C is known as:
Q: The risk that goods may be stolen or damaged during shipment from the place of origin to
the place of the destination is known as:
A Economic Risk
B Buyer's insolvency risk
C Transit risk --- True
D Currency risk
Q: To avoid or minimize disputes and difficulties in trade, the ICC introduce the
INCOTERMS first time in
Q: In the 2010 version of INCOTERMS by ICC; four terms from the previous version were
deleted, which are:
Q: The bank which work as agent of the issuing bank and authorized to pay, incur deferred
payment liability, accept bill of exchange and pay on maturity or negotiating the LC is:
A Confirming Bank
B Advising Bank
C Nominated bank --- True
D Paying Bank
Q: Potential threat of financial loss arising from uncertainty of legal proceeding or a change in
legislation is known as:
A Importer
B Exporter/Seller --- True
C Collecting Bank
D Issuing Bank
Q: The bank which work as the agent bank of the issuing bank in the country of the exporter is
called:
A Confirming Bank
B Advising Bank --- True
C Nominated bank
D Paying Bank
A Borrower
B Banker --- True
C Dealer
D Lender
A Banker
B Depositor
C Customer --- True
D None of the above
Q: It is the right of the customer to draw cheques against his _________ balance
A Debit
B Credit --- True
C Zero
D Available
A notice by a customer
B order of court
C un-satisfactory operation
D All of the above --- True
Q: Which of the following has defined the banker as Any person carrying on a bonafide
banking business in the United Kingdom is a banker?
A American Version
B United Kingdoms Version
C Finance Act, 1915 --- True
D Negotiable Instruments Act, 1881
Q: Which of the following is one in which the exporter has the right to request the paying, or
negotiating bank to make either part, or all, of the credit value available to one or more
third parties?
Q A _____ lien is attached to some specific goods. It is a right to retain possession over
particular goods in connection with which the debt arose
A General
B Special
C Particular --- True
D None of the above
Q: Which of the following may be cancelled or modified after its date of issue, by the issuing
bank?
A Banker
B Delivery
C Material alteration
D Notary public --- True
Q: In letter of credit, which of the following is payable as soon as it is presented for payment?
A Demand draft
B Time draft
C Sight draft --- True
D Order draft
A Agent
B Lawyer
C Executor --- True
D Heir
A Availability of funds to the government for meeting its social sector targets
B Equitable distribution of credit to the different sectors, industries and regions
C Centrally coordinated policy frame work
Q: All of the following are provisions regarding management of banks, under The Banks
(Nationalization) Act, 1974, EXCEPT:
A
The Chief Executive and other officers of the bank shall act in accordance with the policies,
criteria and guidelines determined by the Board
B The board shall appoint committees from amongst the executives of the bank, and determine
the powers, functions and duties of such committees
C The Pakistan Banking Council (hereinafter referred to as the Council) shall stand
dissolved forthwith --- True
The President, subject to the control and directions of the Board, shall exercise powers of
D
management of the affairs of the bank
Q: All of the following are provisions regarding transfer of ownership of banks, under The
Banks (Nationalization) Act, 1974, EXCEPT:
A The ownership, management and control of all banks shall stand transferred to, and vest in,
the Federal Government on the commencing day
B The Federal Government may, if it deems necessary, appoint a Chairman of the Board
in respect of a bank --- True
C The safety of all deposits in banks shall stand guaranteed by the Federal Government
D The provisions of this Act and the vesting of the shares of the banks in the Federal
Government there under shall not in any way affect the status of the banks as bodies
corporate
Q: Which of the following determines how much risk the bank will take and in what form?
Q: In letter of credit, which of the following is a standard document used for billing for the
goods and services?
Q: Which of the following is/are the function(s) of a microfinance institution under Section 6
of the Corporate and Industrial Restructuring Corporation Ordinance, 2000?
A To accept deposits
B To provide storage and safe custody facilities
C To borrow and raise money and open bank accounts
D All of the given options --- True
Q: Which of the following refers to a person employed to do any act for another person or to
represent another person in dealing with third personal?
A Employee
B Agent --- True
C Representative
D Shareholder
A Issuing bank
B Paying bank
C Advising bank --- True
D Confirming bank
A A Commercial Bank
B An Investment bank
C A Microfinance Institution --- True
D An Islamic Bank
Q: All of the following are examples of Negotiable Instruments, under the Negotiable
Instrument Act, 1881, EXCEPT:
A Promissory note
B Bill of exchange
C Cheque
D Bearer debentures --- True
A Public Agents
B Private Agents --- True
C General Agents
D Special Agents
Q: Which of the following refers to an obligation annexed to the ownership of property, and
arising out of a confidence reposed in and accepted by the owner, or declared and accepted
by him, for the benefit of another, or of another and the owner is the person who reposes or
declares the confidence?
A Agency
B Trust --- True
C Branch
D Sole ownership
Q: Which of the following terms is used under the Co-operative Societies and Co-operative
Banks (Repayment of Loans) Ordinance, 1966 for a loan which is not secured by
mortgage, pledge, hypothecation or assignment of such property of the borrower, as in the
case of a loan not exceeding five hundred thousand rupees?
Q: According to the State Bank of Pakistan Act, 1956, "Member" refers to which of the
following?
Q: Which of the following refers to rules that regulate the conduct of individuals, businesses,
and other organizations within society?
A Jurisprudence
B Law --- True
C Legal system
D Legal opinion
Q: If report of State Bank is not submitted with the application of stay order against winding
up to the High Court, the high court can extend a stay order for which of the following
Maximum periods?
A 15 Days
B 30 Days
C 45 Days --- True
D 60 Days
B If the endorser adds a direction to pay the amount mentioned in the instrument to, or to the
order of, a specified person
C If the endorser restricts or excludes the right to further negotiate the instrument ---
True
D If the endorser purports to transfer to the endorsee only a part of the amount payable
Q: A banking company can engage itself in which of the following businesses under section 7
of Banking Companies Ordinance, 1962?
A Mutual Funds
B Pension Funds
C Stock Exchange --- True
D Credit Union
Q: According to the Section 4 of State Bank of Pakistan Act, 1956, which of the following is
the face value of the share of a Bank?
A Rs. 10
B Rs. 20
C Rs. 50
D Rs. 100 --- True
Q: As per Banking Companies Ordinance, 1962, the total suspension time of the operation of
all or any provision of Companies ordinance, 1962 should not exceed:
A Three months
B Six months
C Nine months
D One year --- True
Q: All of the following are contents of the Memorandum of unlimited company, under
Banking Companies Ordinance, 1962, EXCEPT:
A A commercial invoice
B A transport document
C A certificate of origin
D A certificate of investment --- True
A Paid up capital
B Issued capital
C Unpaid capital --- True
D Subscribed capital
Q: Which of the following refers to a business in which a person participates with his money
and another with his efforts or skill or both his efforts and skill and shall include unit, trust
and mutual fund by whatever name called?
A Musharika
B Modaraba --- True
C Istisna
D Ijara
A Document
B Paper
C Bond
D Bill --- True
Q: How many parties are involved in a Cheque?
A Two
B Three --- True
C Four
D Five
Q: At the time of independence, how many branches of scheduled banks were there
in Pakistan?
A 457 branches
B 467 branches
D 497 branches
Q: According to Section 4 of State Bank of Pakistan Act, 1956, which of the following
should be the original Capital of the Bank?
A Rs. 20 Millions
C Rs. 40 Millions
D Rs. 50 Millions
Q: A banking company can engage itself in which of the following businesses under
section 7 of Banking Companies Ordinance, 1962?
A American version
A SME financing
B Corporate financing
D Micro financing
A Federal fund
C Bankers acceptance
A Authorized capital
C Issued capital
D Retained capital/equity
Q: According to the Banking and Companies Ordinance, 1962, which of the following
refers to any company which transacts the business of banking in Pakistan?
A Microfinance Institution
C Investment Bank
D A corporate Body
B If the endorser adds a direction to pay the amount mentioned in the instrument
to, or to the orderof, a specified person
D If the endorser purports to transfer to the endorsee only a part of the amount
payable
Q: How many foreign banks were there in Pakistan, at the time of independence?
A 09 banks
C 29 banks
D 39 banks