PPSC FPSC Commerce Solved MCQs Practice Test 15

1- An institution which purchases and sells money and transacts other financial- business of like nature is called:

A). College

B). Bank✔️

C). Hospital

D). Manufacturing

2- Bank borrow money in the shape of deposits and lends it in various ways: it consider its:

A). Primary function✔️

B). General utility function

C). Agency functions

D). Secondary function

3- A bank performs contain functions for the benefit of general public which are called us:

A). Primary functions

B). General utility functions✔️

C).Agency functions

D).Secondary function

4- When banks act as agents of their customers and tender great service in that capacity these are:

A). Primary functions

B). General utility functions

C).Agency functions✔️

D).Secondary function

5- To keep valuable things and papers in safe custody, is the example of bank’s:

A).Primary functions

B). General utility function✔️

C).Agency functions

D).Secondary function

6- To realize interest and dividend on behalf of their customers is the example of banks:

A).Primary functions

B). General utility function

C).Agency function✔️

D).Secondary function

7- To finance the import and export trade of a country is the example of banks:

A).Primary function

B).Agency function

C). General utility function✔️

D).Secondary function

8- Issue of various important documents is the example of banks:

A).Primary functions

B). General utility function✔️

C).Agency functions

D).Secondary function

9- A commercial bank receives money on:

A). Two accounts

B). Three accounts✔️

C). Four accounts

D). Five accounts

10-The  customer is allowed to deposit or withdraw money as and when he likes, in” case of:

A). Current account

B). Saving bank account✔️

C). Fixed deposit account

D). None of the above

11- In case, deposits can be made only up to a certain amount and withdrawals are allowed only twice or thrice a week, not exceeding a certain amount, is:

A). Current account

B). Saving bank account✔️

C). Fixed deposit account

D). None of the above

12- When a certain amount is deposited for a fixed period such as six months, one year or longer, such type of account is:

A). Current account

B). Saving bank account

C). Fixed deposit account✔️

D). None of the above

13- When a customer is authorized to borrow up to an agreed amount in excess of the customers bank balance, if will be called:

A). Bank overdraft✔️

B). Bank under draft

C). Bank balance

D). None of the above

14- When a commercial bank advances a fixed sum for a definite period of time, it will called:

A). Overdraft

B). Loans✔️

C). Under draft

D). None of the above

15- Which of the following should be filled up. When money is to be deposited in the:

A). Draft

B). Cheque

C). Pay- in- slip✔️

D). Pay order

16- A customer can withdrawal from his account or make payment to various parties ” by issue of:

A). Pay-in-slips

B). Cheques✔️

C). Overdrafts

D). None of the above

17-In the books of the bank , whenever an account is opened the customer is finished with a:

A). Bank- pass Book✔️

B). Cheque Book

C). Pay-in-slip Book

D). None of the above

18- When two parallel lines are drawn across the face of a cheque, it is said to be:

A). A bearer cheque

B). An order cheque

C). A crossed cheque✔️

D). None of the above

19- When the cheque is paid by the draw bank, it is said to be:

A). Honoured

B). Dishonored

C). Endorsed✔️

D). None of the above

20- When the cheque is not paid by the drawee bank, it is said to be:

A). Honoured

B). Dishonoured

C). Endorsed

D). None of the above✔️

21- The act of singing on the back of the cheque in order to transfer it to someone else is called:

A). Crossing

B). Endorsement✔️

C). Drafting

D). None of the above

22- Commercial banks give the’ facility of remittance or money from one place to another, through:

A). Cheques

B). Overdrafts

C). Bank drafts✔️

D). None of the above

23-  Hundi is exactly like a:

A). Bank Draft✔️

B). Cheque

C). Pay in slip

D). None of the above

24- The method of payment by bill of exchange depend on:

A). Cash basis

B). Credit basis✔️

C). Reserve basis

D). None of the above

25- Bill receivable book is a part of the:

A). Journal✔️

B). Ledger

C). Profit and Loss Account

D). Balance sheet

Useful Links:-

Lecturer Commerce Online Tests

One Paper MCQs for PPSC FPSC KKPSC BPSC SPSC AJKPSC NTS

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