Question # 1 of 15 ( Start time: 10:53:53 PM ) Total Marks: 1
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


Question # 2 of 15 ( Start time: 10:55:19 PM ) Total Marks: 1
All of the following are included in the financial intermediaries, EXCEPT:
Select correct option:


  • Mutual Funds
  • Pension Funds
  • Stock Exchange
  • Credit Union


Question # 3 of 15 ( Start time: 10:56:21 PM ) Total Marks: 1
Which of the following terms is NOT defined by the Companies Ordinance, 1984?
Select correct option:


  • Paid-up capital
  • Debenture
  • Dividend
  • Preference share


Question # 4 of 15 ( Start time: 10:57:53 PM ) Total Marks: 1
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


Question # 5 of 15 ( Start time: 10:58:20 PM ) Total Marks: 1
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 Time Left 88
sec(s)
Question # 6 of 15 ( Start time: 10:58:39 PM ) Total Marks: 1
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



Question # 7 of 15 ( Start time: 10:59:15 PM ) Total Marks: 1
Which of the following is also called the Legal Mortgage?
Select correct option:


  • Equitable Mortgage
  • Registered Mortgage
  • Un-registered Mortgage
  • Non-equitable Mortgage


Question # 9 of 15 ( Start time: 11:00:54 PM ) Total Marks: 1
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



Question # 10 of 15 ( Start time: 11:01:50 PM ) Total Marks: 1
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


Question # 11 of 15 ( Start time: 11:02:33 PM ) Total Marks: 1
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 Time Left 89
sec(s)

Question # 12 of 15 ( Start time: 11:03:29 PM ) Total Marks: 1
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



Question # 13 of 15 ( Start time: 11:04:17 PM ) Total Marks: 1
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 Time Left 88
sec(s)

Question # 15 of 15 ( Start time: 11:06:03 PM ) Total Marks: 1
In which of the following years, “Wafaqi Mohtasib” was established?
Select correct option:


  • 1983
  • 1995
  • 2000
  • 2005



Question # 1 of 15 ( Start time: 11:08:04 PM ) Total Marks: 1
According to Section 16 of Banking Companies Ordinance, 1962, which of the following is the MAXIMUM commission, brokerage, discount or remuneration paid by banking company on issue of share capital?
Select correct option:


  • 2% of the paid up value of the issued shares
  • 2.5% of the paid up value of the issued shares
  • 3% of the paid up value of the issued shares
  • 3.5% of the paid up value of the issued shares


Question # 2 of 15 ( Start time: 11:09:36 PM ) Total Marks: 1
Of the following who make the contract void?
Select correct option:




  • Minor
  • Insolvent
  • Lunatic
  • All of the given options



Question # 3 of 15 ( Start time: 11:10:52 PM ) Total Marks: 1
Which of the following refers to “the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability”?
Select correct option:


  • Hypothecation
  • Mortgage
  • Lien


Question # 4 of 15 ( Start time: 11:11:30 PM ) Total Marks: 1
All of the following are requirements of the Memorandum, under Banking Companies Ordinance, 1962, EXCEPT:
Select correct option:




  • Required to be printed
  • Issue of shares and allotment of shares
  • Should be divided into paragraphs
  • Paragraphs to be consecutively numbered


Question # 5 of 15 ( Start time: 11:12:21 PM ) Total Marks: 1
Which of the following condition(s) may lead to cancellation of license of a banking company?
Select correct option:


  • If the company ceases to carry on banking business in Pakistan
  • If the company at any time fails to comply with any of the conditions imposed upon it under sub-section (1)
  • If at any time, any of the conditions referred to in sub-section (3) ceases to be fulfilled
  • All of the given options


Question # 6 of 15 ( Start time: 11:12:39 PM ) Total Marks: 1
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 Million
  • Rs. 40 Millions
  • Rs. 50 Millions



Question # 8 of 15 ( Start time: 11:13:05 PM ) Total Marks: 1
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


Question # 9 of 15 ( Start time: 11:13:16 PM ) Total Marks: 1
A banking company can engage itself in which of the following businesses under section 7 of Banking Companies Ordinance, 1962?
Select correct option:


  • Borrowing, raising, or taking up of money
  • The lending or advancing of money either upon or without security
  • The granting and issuing of letters of credit
  • All of the given options


Question # 10 of 15 ( Start time: 11:13:41 PM ) Total Marks: 1
Under Section 10 (Penalty) of the Co-operative Societies and Co-operative Banks (Repayment of Loans) Ordinance, 1966, if a person whoever contravenes any of the provisions of this Ordinance or the rules made shall be punishable with imprisonment of which of the following?
Select correct option:


Sponsored Links


  • Term which may extend to five years
  • Term which may extend to six years
  • Term which may extend to seven years
  • Term which may extend to eight years


Question # 12 of 15 ( Start time: 11:16:04 PM ) Total Marks: 1
According to Section 36 of Banking Companies Ordinance, 1962, the banking company should submit its financial statements and the audit report to the State bank within which of the following periods?
Select correct option:


  • 2 Months
  • 3 Months
  • 4 Months
  • 6 Months


Question # 13 of 15 ( Start time: 11:17:30 PM ) Total Marks: 1
According to URR525, which of the following is a bank that has issued a Credit and the Reimbursement Authorization under that Credit?
Select correct option:


  • Issuing bank
  • Paying bank
  • Advising bank
  • Confirming bank


Question # 14 of 15 ( Start time: 11:17:54 PM ) Total Marks: 1
Who among the following is appointed by a court to look after the estate of a person who died without leaving a WILL?
Select correct option:


  • Agent
  • Lawyer
  • Lawyer
  • Administrator


Quiz Start Time: 11:08 PM Time Left 88
sec(s)
Question # 15 of 15 ( Start time: 11:18:32 PM ) Total Marks: 1
------Studies history of law and evolution of law over a period of time and also amendments, introduction of new principles of law.
Select correct option:


  • Analytical Jurisprudence.
  • Social Jurisprudence.
  • Historical Jurisprudence.
  • Ethical Jurisprudence.