BNK601 QUIZ NO 3

Subject: BNK601 QUIZ NO 3 Thu Jul 22, 2010 9:15 pm

Quote :: Question # 1 of 15 ( Start time: 10:53:53 PM )
Which of the following is NOT the essential requirement for the endorsement as per Negotiable Instrument
Act, 1881?
Select correct option:
It should be on the instrument
It should be made by the holder or the maker
Signatures should be in ink and not by pencil or rubber stamp
It should contain unconditional order

Quiz Start Time: 10:53 PM
Question # 2 of 15 ( Start time: 10:55:19 PM )
All of the following are included in the financial intermediaries, EXCEPT:
Select correct option:
Mutual Funds
Pension Funds
Stock Exchange
Credit Union

Quiz Start Time: 10:53 PM
Question # 3 of 15 ( Start time: 10:56:21 PM )
Which of the following terms is NOT defined by the Companies Ordinance, 1984?
Select correct option:
Paid-up capital
Debenture
Dividend
Preference share

Quiz Start Time: 10:53 PM
Question # 4 of 15 ( Start time: 10:57:53 PM )
What is the bailment of goods as security for payment of a debt or performance of a promise called?
Select correct option:
Hypothecation
Mortgage
Lien
Pledge

Quiz Start Time: 10:53 PM
Question # 5 of 15 ( Start time: 10:58:20 PM )
According to Section 4 of State Bank of Pakistan Act, 1956, which of the following should be the original
Capital of the Bank?
Select correct option:
Rs. 20 Millions
Rs. 30 Millions
Rs. 40 Millions
Rs. 50 Millions

Quiz Start Time: 10:53 PM
Question # 6 of 15 ( Start time: 10:58:39 PM )
Which of the following is NOT a legal requirement for opening a bank account of a limited company?
Select correct option:
Copy of Memorandum of Association
Copy of Articles of Association
Certificate of Incorporation
Specimen signatures of all the directors

Quiz Start Time: 10:53 PM
Question # 7 of 15 ( Start time: 10:59:15 PM )
Which of the following is also called the Legal Mortgage?
Select correct option:
Equitable Mortgage
Registered Mortgage
Un-registered Mortgage
Non-equitable Mortgage

Quiz Start Time: 10:53 PM
Question # 9 of 15 ( Start time: 11:00:54 PM )
Which of the following refers to “the delivery of goods by one person to another for some purpose, upon a
contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according
to the directions of the person delivering them”?
Select correct option:
Bailment
Mortgage
Lien
Pledge

Quiz Start Time: 10:53 PM
Question # 10 of 15 ( Start time: 11:01:50 PM )
According to Section 23 of Banking Companies Ordinance, 1962, a subsidiary to banking company can
perform which of the following function(s)?
Select correct option:
To carry on of banking business strictly in conformity with Islam
To carry on business of modaraba
Such other purposes as are incidental to the business of banking
All of the given options
Quiz Start Time: 10:53 PM
Question # 11 of 15 ( Start time: 11:02:33 PM )
According to URR525, which of the following is a request for reimbursement from the Claiming Bank to the
Reimbursing Bank?
Select correct option:
Reimbursement authorizations
Reimbursement amendment
Reimbursement claim
Reimbursement undertaking

Quiz Start Time: 10:53 PM
Question # 12 of 15 ( Start time: 11:03:29 PM )
Which of the following has defined the banker as “Any person carrying on a bonafide banking business in
the United Kingdom is a banker”?
Select correct option:
American Version
United Kingdom’s Version
Finance Act, 1915
Negotiable Instruments Act, 1881

Quiz Start Time: 10:53 PM
Question # 13 of 15 ( Start time: 11:04:17 PM )
According to UCP 600, which of the following refers to any arrangement, however named or described,
that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honor a complying
presentation?
Select correct option:
Credit
Letter of credit
Confirmation
Honor

Quiz Start Time: 10:53 PM
Question # 15 of 15 ( Start time: 11:06:03 PM )
In which of the following years, “Wafaqi Mohtasib” was established?
Select correct option:
1983
1995
2000
2005

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