1. A signs promis promissory sory instr instrument ument in the the following following terms: terms: (a)Mr. B I.O.U. Rs.1000 (b) I promise to pay Rs. 500 seven seven days after my marriage marriage with (!) I a!"nowledge to be indebted indebted to # in Rs.1000 to be paid on demand$ demand$ for value re!eived (d) I promise to pay Rs. 500 to to # and to deliver my bla!" horse on 1st 1st %anuary ne&t '. ow many parties parties are are there to a *romis *romissory sory note+ and a bill bill of e&!hange+, e&!hange+, (a) -here are three three parties to a *romissory *romissory note+ and four to a bill of e&!hange+ (b)There are four parties to a “Promissory note” an three to a “bi!! of e"#han$e (!) -here is one party party to a *romissory *romissory note+ and two to a bill bill of e&!hange+ (d) -here are two parties to a *romissor *romissory y note and three to a bill of e&!hange+ . In a he/ue he/ue issued by by A to #$ #$ amount is stated dierently dierently in gures and in words: (a)the amount state in %ors sha!! be the amount orere to be pai (b) the amount stated in gures shall be the amount ordered ordered to be paid (!) the he/ue will be returned returned to the bearer by the ban"er for !orre!tion !orre!tion by the drawer 2. 3hen !onsen !onsentt to an agreemen agreementt is !aused !aused by !oer!ion !oer!ion$$ fraud or or misrepresentation$ the agreement is: (a) 4alid (b) (b) void void (#) &oiab!e &oiab!e at the option of a party %hose #onsent %as so #ause (d) *artia *artially lly void 5. A 4oid 4oidabl able e !ontr !ontra!t a!t is: is: (a) An illegal illegal agreement (b) *artly valid agreement agreement (!) 4oid ab initi initio o ()'one of these . A minor minor in a rm rm en6oys en6oys the the followi following ng rights: rights: (a)e may be amitte to the benets of partnership (b) e !annot have a!!ess to and inspe!t inspe!t and !opy any of the the a!!ounts of the rm (!) 7one of these these 8. A fully paid share9warrant share9warrant of a !ompany !ompany limited by shares shares is to be treated treated li"e a: (a) he/ue he/ue (b) negotiable instrument
(#)Bi!! of *"#han$e (d) 7one of these . A private !ompany !an be in!orporated by: (a)+ persons (b) persons (!) 8 persons (d) 7one of these ;. A publi! !ompany must have at least: (a) 5 persons (b), persons (!) ; persons (d) 7one of these 10.A private !ompany !annot have more than: (a) '0 members (b) 0 members (#)-0 members (d) 7one of these 11.= 2 wheat on ''5 deals with: (a) ounter proposed (b) Implied a!!eptan!e (#) Manner of a##eptan#e (d) 7one of these 1'.A and # !ontra!t to marry ea!h other. #efore the time &ed for the marriage A goes mad. In su!h a !ase the !ontra!t is: (a)&oi (b) 4oidable (!) 4alid (d) 7one of these 1.-he ma&im of aveat
15.An agreement entered into before marriage between a @uslim wife and husband that the wife shall be at liberty to live with her parents after marriage is: (a)&a!i (b) 4oid (!) 4oidable at the option of husband (d) 7one of these 1.A promises to obtain for # an employment in the *ubli! =ervi!e and promises to pay rupees 1000 to A. -he agreement is: (a) 4alid (b)&oi (!) 4oidable (d) 7one of these 18.A void !ontra!t is: (a) An illegal agreement (b) *artly valid agreement (!) eased to be a valid agreement ()'one of these 1.An agreement to pay one hundred rupees to a holy man for prayers for the su!!ess of a suit in a !ourt is: (a)&a!i (b) 4oid (!) 4oidable (d) *artially 4alid 1;.A$ for natural love and ae!tion$ promises to give his son #$ Rs.100$000$ and puts his promise to # into writing and registers it. 3ill the !ontra!t be: (a)&a!i (b) 4oid (!) *artially 4alid (d) 7one of these '0.A !ontra!t # to sell his horse for Rs.500 by 10th %anuary '010. -he horse so !ontra!ted dies on th %anuary '010. -he !ontra!t is: (a) 4alid (b)&oi (!) # !an sue A for !ompensation (d) A is liable for damages '1.3hi!h of the following !ontra!ts is 4oidable$ where: (a) party is inu#e by unue inuen#e (b) ne party under mista"e of fa!t (!) #oth parties under mista"e of fa!t (d) 7one of these
''.In !ase of willful wrong a sub9agent is responsible to: (a)$ent (b) *rin!ipal (!) =ole agent '.A tender noti!e amounts to: (a) *roposal (b) er (#)In2itation '2.A !ontra!t to sell the property by a minor through guardian is: (a) 4oid (b) 4oidable (#)&a!i '5.ow many parties are there in a !ontra!t of guarantee, (a) 5 (b) 2 (#)3 (d) 7one of these '.3hi!h of the following is eligible to be!ome dire!tor of a !ompany, (a) @inor (b) >n9dis!harged insolvent (#) Person representin$ a #reitor (d) 7one of these '8.<&tra9ordinary general meeting of a !ompany in!ludes: (a) Annual general meeting (b)4tatutory meetin$ (!) *lenary meeting (d) 7one of these '.*etition for winding up of a !ompany may be moved by: (a) Auditor Beneral (b) Advo!ate Beneral (#)5ompany 6u$e (d) 7one of these ';.-he ompanies A!t repealed by the ompanies rdinan!e$ 1;2 pertained to the year: (a) 1;0 (b)1733 (!) 1;5 (d) 7one of these 0.*enalty for improper use of word Cimited+ is: (a)8ine (b) Imprisonment
(!) Imprisonment with ne (d) 7one of these 1.In whi!h of the following an arbitration agreement is not dis!harged by the death of party: (a) 4oluntary (b) =tatutory (#)5ontra#tua! (d) 7one of these '.-he assent of arbitrator appointed by !ourt is: (a)Optiona! (b) 7ot re/uired (!) 7e!essary (d) 7one of these .-he number of Arbitration A!t$ 1;20 is: (a) DI (b) D4 (!) DD ()'one of these(9 of 17:0) 2.7ature of mis!ondu!t 6ustifying removal of arbitrator should be: (a);e$a! (b) @oral (!) *ro!edural (d) 7one of these 5.=uit by unregistered rm against third party is: (a) @aintainable (b)Barre (!) *ermissible (d) 7one of these .-he rm and rm9name are: (a)4ynonymous (b) Inter!hangeable (!) Eierent terms (d) 7one of these 8.-he partnership is: (a) %uristi! person (b) %uridi!al person (!) 7atural person ()'one of these .-he ma"er of a promissory note is liable as: (a)Prin#ipa! ebtor (b) *rin!ipal reditor
(!) >nder!harged surety (d) 7one of these ;.4alid presentation of a !he/ue is within si& months from: (a)The ate it is ra%n (b) Eate of last !orre!tion (!) Eate of delivery (d) 7one of these 20.An e&!eption to 7o one !an transfer what he does not have+ is: (a) Registered gift (b) 3ill (#)*stoppe!s by o%ner (d) 7one of these 21.%urisdi!tion in !ompany matters is to be e&er!ised by: (a)5i2i! 5ourt (b) Any %udge of igh ourt (!) ompany #en!h of igh ourt (d) 7one of these 2'.Any alteration in Arti!le of Asso!iation ae!ting the substantive right or liabilities of members of the !ompany !an be made: (a) If #oard of Eire!tor pass su!h alteration (b) #y vote of simple ma6ority of members (#) By a 2ote < ma=ority of members (d) 7one of these 2.A spe!ial audit of a !ompany !an be ordered by a !ommission on an appli!ation made by members holding not less than: (a) '0F 4oting Rights (b) '5F 4oting Rights (#) -1> &otin$ Ri$hts (d) 7one of these 22.A listed !ompany in a!!ordan!e with !ompanies ordinan!e is re/uired to have at least: (a) -wo Eire!tor (b)4e2en ?ire#tor (!) -hree Eire!tors (d) 7one of -hese 25.3hen a negotiable instrument may be !onstrued either as a promissory note or bill of e&!hange$ law re!ogniGes it as: (a) *romissory note (b) #ill of <&!hange (#)mbi$uous Instrument (d) 7one of these
2.3hen a bill of e&!hange has been dishonoured$ the holder !an !ause su!h dishonour to be !ertied by a notary publi!$ su!h !erti!ate is a: (a) laiming (b) *resentment (!) *rotest ()'one of these('otin$) 28.If a !he/ue is transferred to any person to !onstitute him as a holder$ the instrument is said to be: (a) Eelivered (b)'e$otiate (!) *resented (d) 7one of these 2.A partner !an be e&pelled from a Hirm: (a)By simp!e ma=ority of partners (b) If all partner !onsent to it (!) nly by e&er!ise of powers !onferred by the ontra!t (d) 7one of these 2;.A new partner !an be indu!ted in an e&isting partnership: (a) #y re!ommendation of any partner (b)By the #onsent of a!! partners (!) #y the !onsent of half of the partners (d) 7one of these 50.Any admission made by a partner regarding the aairs of the rm in ordinary !ourse of business: (a)Is e2ien#e a$ainst the rm (b) as no validity against the rm (!) rdinary statement (d) 7one of these 51.An agreement between partners imposing reasonable restri!tion on a partner for not !arrying on any business within a spe!ied time or lo!al limits on !easing to be a partner is: (a)&oi (b) 4alid (!) Illegal (d) 7one of these 5'.-he goods whi!h form the sub6e!t of a =ale !an be: (a)*"istin$ @oos (b) <&isting and Huture Boods (!) <&isting$ Huture and ontingent Boods (d) 7one of these 5.If the seller ma"e use of *retended bidding to raise the pri!e the sale is: (a)&oiab!e
(b) 4oid (!) Illegal (d) 7one of these 52.-he prin!iple of indemnity does not apply in the !ase of: (a);ife Insuran#e (b) @arine Insuran!e (!) Hire Insuran!e (d) 7one of these 55.*romise whi!h form the !onsideration or part of the !onsideration for ea!h other are !alled: (a)$reement (b) ontra!t (!) Re!ipro!al Agreement (d) 7one of these 5.@r. Aslam applied to a ban" for a loan at a time when there is stringen!y in the money mar"et$ the ban"er de!lines to ma"e the loan e&!ept at an unusually high rate of interest$ this is !alled: (a) >ndue inuen!e (b)Transa#tion in the orinary #ourse of business (!) Hree !onsent (d) 7one of these 58.3hen !onsent to an agreement is !aused by !oer!ion$ fraud$ or misrepresentation$ the agreement is: (a) 4alid (b) 4oid (#)&oiab!e (d) 7one of these 5.A person who nds goods belonging to another and ta"es them into his !ustodyJ is sub6e!t to the same responsibilities as: (a) -rustee (b) wner (#)Bai!ee (d) 7one of these 5;.An agreement in restraint of the marriage of any person other than a minor is !alled : (a) 4alid (b) Invalid (!) Illogi!al ()'one of these(&oi) 0.Authority of an appointed arbitrator or umpire !an be revo"ed: (a) At the dis!retion of either party (b)Aith the !ea2e of the 5ourt
(!) Irrevo!able (d) 7one of these 1.-he minimum number of members re/uired for forming private !ompany is: (a)1 (b) (!) 5 (d) 7one of these '.After its in!orporation$ the ordinary Beneral @eeting of a !ompany must be held within: (a) ne year (b) the year of in!orporation (#) *i$hteen months from the ate of in#orporation (d) 7one of these .Hor how mu!h days$ a promissory note is entitled to days of gra!e to be at maturity when it is not e&pressed to be either payable on demand or otherwise, (a) 0 days (b) 15 days (#)3 ays (d) 7one of these 2.3ho among the following is appointed by a !ourt to loo" after the estate of a person who died without leaving a 3ICC, (a) Agent (b) Cawyer (!) Cawyer ()ministrator 5.A!!ording to >RR5'5$ whi!h of the following is a re/uest for reimbursement from the laiming #an" to the Reimbursing #an", (a) Reimbursement authoriGations (b) Reimbursement amendment (#) Reimbursement #!aim (d) Reimbursement underta"ing .3hi!h of the following is 7- a legal re/uirement for opening a ban" a!!ount of a limited !ompany, (a) opy of @emorandum of Asso!iation (b) opy of Arti!les of Asso!iation (!) erti!ate of In!orporation ()4pe#imen si$natures of a!! the ire#tors 8.3hi!h of the following is 7- the essential re/uirement for the endorsement as per 7egotiable Instrument A!t$ 11, (a) It should be on the instrument
(b) It should be made by the holder or the ma"er (!) =ignatures should be in in" and not by pen!il or rubber stamp ()It shou! #ontain un#onitiona! orer .An endorsement is said to be *artial endorsement$ if it satises whi!h of the following !onditions, (a) If the endorser signs his name only (b) If the endorser adds a dire!tion to pay the amount mentioned in the instrument to$ or to the order of$ a spe!ied person (!) If the endorser restri!ts or e&!ludes the right to further negotiate the instrument (d) If the enorser purports to transfer to the enorsee on!y a part of the amount payable ;.3hi!h of the following is the te!hni!al term used for Cetter of redit+, (a)?o#umentary #reit (b) Eo!umentary eviden!e (!) Eo!umentary instrument (d) Eo!umentary proposal 80.All of the following are essentials of a valid a!!eptan!e of an instrument$ * 00$ whi!h of the following refers to the ban" with whi!h the !redit is available or any ban" in the !ase of a !redit available with any ban", (a) Advising ban" (b) Issuing ban" (#)'ominate ban (d) *aying ban". 8'.A!!ording to 7egotiable Instrument A!t$ 11$ whi!h of the following is the essential of a !he/ue, (a) It should !ontain !onditional order (b) It must not be signed by drawer (!) he/ue is not payable on demand ()It is payab!e to spe#ie person 8.A!!ording to 7egotiable Instrument A!t$ 11$ whi!h of the following refers to an instrument in writing (not being a ban" note or a !urren!y note) !ontaining un!onditional underta"ing$ signed by the ma"er to pay on demand or at a &ed or determinable future time a !ertain sum of money only to or to the order of a !ertain person$ or to the bearer of the instrument+, (a) *romissory note
(b)Bi!! of e"#han$e (!) he/ue (d) #earer debentures 82.-he letter of !redit in!ludes all of the following do!uments$ nderwriting is !onservative and signi!ant loan !on!entrations are not allowed ()Mana$ement is often attra#te to hi$hris an hi$hreturn borro%ers 88.A!!ording to >* 00$ whi!h of the following refers to the party on whose re/uest the !redit is issued, (a)pp!i#ant (b) Issuer (!) #ene!iary (d) Issuing ban" 8.ow many arti!les are there in >niform ustoms and *ra!ti!e for Eo!umentary redits (>* 00), (a) Arti!les (b) 8 Arti!les (!) Arti!les ()37 rti#!es 8;.An endorsement is said to be Restri!tive endorsement$ if it satises whi!h of the following !onditions, (a) If the endorser signs his name only (b) If the endorser adds a dire!tion to pay the amount mentioned in the instrument to$ or to the order of$ a spe!ied person (#) If the enorser restri#ts or e"#!ues the ri$ht to further ne$otiate the instrument
(d) If the endorser purports to transfer to the endorsee only a part of the amount payable
0.A!!ording to 7egotiable Instrument A!t$ 11$ whi!h of the following is 7the type of promissory note, (a) A promise to pay a !ertain sum of money to a person (b) A promise to pay a !ertain sum of money to the order (!) A promise to pay the bearer () promise to pay #ertain sum of money at some time 1.3hi!h of the following is also "nown as !ore !apital+, (a) *aid up !apital (b)Tier I #apita! (!) AuthoriGed !apital (d) Issued !apital
'.*ledge of sto!"s as se!urity for availing !redit from ban"+ is the e&le of whi!h of the following, (a)Bai!ment (b) @ortgage (!) Cien (d) *ledge .All of the following are parties to !he/ue$ nder *rudential Regulations$ the ma&imum tenure of the auto loan nan!e shall not e&!eed: (a) Hive years (b) =i& years (#)4e2en years
(d) nder >* 00$ whi!h of the following refers to the term presentation+, (a) Eelivery of goods to importer (b) Advising Cetter of redit (#) ?e!i2ery of o#uments uner a #reit to issuin$ ban or nominate ban (d) Eelivery of !ommer!ial invoi!e to a importer ;.3hi!h of the following is 7- an essential of #ailment, (a) ontra!t (b) =pe!i! purpose (!) Eelivery of goods
()5han$e of o%nership ;2.>nder *rudential Regulations$ the vehi!le to be utiliGed for !ommer!ial purposes shall not be in!luded in whi!h of the following, (a) =@< nan!ing (b) orporate nan!ing (#)5onsumer nan#in$ (d) @i!ro nan!ing ;5.All of the following are salient features of urrent *rot Eriven ulture of the ban"$ nderwriting is very aggressive and management a!!epts loan !on!entrations and above9average !redit ris" (!) ut!ome is typi!ally higher prot in good times$ followed by lower prot in bad times when loan losses in!rease (d) ut!ome is that loan /uality suers over time$ while prot is modest be!ause loan growth !omes from below9mar"et pri!ing and greater ris" ta"ing
;.3hi!h of the following is 7- the fun!tion of the !redit pro!ess, (a) #usiness development and !redit analysis (b) >nderwriting or !redit e&e!ution and administration (!) redit review ()Prote#tin$ the or$aniCation ;8.*rudential Regulations issued by =tate #an" of *a"istan were announ!ed on whi!h of the following dates, (a) %uly 1$ 1;;' (b) August ';$ 1;;1 (!) @ay 1$ 1;;' ()6u!y +7D 1771 ;.3hi!h of the following is not payable$ until the lapse of a parti!ular time period$ stated on the draft$ in !ase of letter of !redit, (a) Eemand draft (b)Time raft (!) =ight draft (d) rder draft ;;.A!!ording to *rudential Regulations$ auto loan is issued to pur!hase a vehi!le for whi!h of the following, (a) #usiness use (b)Persona! use (!) =o!ial use (d) M!ial use
100. 3hi!h of the following refers to the possibility that operating e&penses might vary signi!antly from what is e&pe!ted, (a) redit ris" (b) Ci/uidity ris" (!) @ar"et ris" ()Operationa! ris 101.
All of the following ma"es the endorsement !omplete$
10'. 3hi!h of the following refers to an instrument in writing !ontaining an un!onditional order$ signed by ma"er$ dire!ting a !ertain person$ to pay on demand or at &ed or determinable future time a !ertain sum of money only to$ or to the order of$ a !ertain person or to the bearer of the instrument+, (a) *romissory note (b)Bi!! of e"#han$e (!) he/ue (d) #earer debentures 10. 3hi!h of the following is the party availing the fa!ility in the hire9 pur!hase agreement, (a) Issuer (b) Re!eiver (#)irer (d) #ene!iary 102. A!!ording to 7egotiable Instrument A!t$ 11$ all of the following are types of the !he/ue$
(b) Hull endorsement (!) Restri!tive endorsement (d) *artial endorsement 108. 3hi!h of the following refers to a !ontra!t$ by whi!h one party promises to save the other from loss !aused to him by the !ondu!t of the *romisor himself$ or by the !ondu!t of any other person+, (a) ontra!t of guarantee (b) ontra!t of surety (#)5ontra#t of inemnity (d) ontra!t of liability 10. 3hi!h of the following international trade nan!ing methods refers to A method in whi!h the e&porter !an avoid !redit ris" or the ris" of nonpayment$ sin!e payment is re!eived prior to the transfer of ownership of the goods+, (a) Cetter of !redit (b) pen a!!ount (!) Eo!umentary !olle!tion ()Payment in a2an#e 10;. 3hi!h of the following identies preferred loan /ualities and establishes pro!edures for granting$ do!umenting and reviewing loans, (a) redit pro!ess (b)5reit po!i#y (!) redit ris" (d) redit e&posure 110. 3hi!h of the following !an be used as an alternative to the transferable letter of !redit, (a)Ba#toba# !etter of #reit (b) Irrevo!able !onrmed letter of !redit (!) Revolving !redit (d) -ransferable letter of !redit 111. In letter of !redit$ whi!h of the following is a standard do!ument eviden!ing the re!eipt of goods for shipment and issued by a freight !arrier engaged in the business of forwarding or transporting goods, (a) ommer!ial invoi!e (b)Bi!! of !ain$ (!) 3arranty of title (d) Cetter of indemnity 11'. All of the following are e&les of Ouasi 7egotiable Instruments$ under the 7egotiable Instrument A!t$ 11$
11. 3hi!h of the following is in!luded in Hinan!ial Institutions+ as per *rudential Regulation issued by the =tate #an" of *a"istan, (a)Bans (b) Eevelopment Hinan!ial Institutions (EHIs) (!) 7on9#an"ing Hinan!e ompanies (7#Hs) (d) Insuran!e ompanies 112. In do!umentary !redit$ whi!h of the following ban"s is usually a foreign ban", (a) Issuing ban" (b) *aying ban" (#)2isin$ ban (d) onrming ban" 115. >nder hire9pur!hase$ at the time of delivery and possession of goods$ whi!h of the following is issued by the ban", (a)?e!i2ery orer (b) Eelivery note (!) Eelivery memo (d) *hysi!al delivery of goods 11. An endorsement is said to be Restri!tive endorsement$ if it satises whi!h of the following !onditions, (a) If the endorser signs his name only (b) If the endorser adds a dire!tion to pay the amount mentioned in the instrument to$ or to the order of$ a spe!ied person (#) If the enorser restri#ts or e"#!ues the ri$ht to further ne$otiate (d) If the endorser purports to transfer to the endorsee only a part of the amount payable 118. A!!ording to the prudential regulations for the housing loan$ the ma&imum monthly installment for repayment of loan should not e&!eed whi!h of the following, (a) '5F of net disposable in!ome of the borrower (b) 20F of net disposable in!ome of the borrower (#) -0> of net isposab!e in#ome of the borro%er (d) 0F of net disposable in!ome of the borrower 11. A ban"ing !ompany !an engage itself in whi!h of the following businesses under se!tion 8 of #an"ing ompanies rdinan!e$ 1;', (a) #orrowing$ raising$ or ta"ing up of money (b) -he lending or advan!ing of money either upon or without se!urity (!) -he granting and issuing of letters of !redit ()!! of the $i2en options
11;. All of the following are !ontents of the Arti!les of Asso!iation$ under #an"ing ompanies rdinan!e$ 1;'$ nder *rudential Regulations$ the vehi!le to be utiliGed for !ommer!ial purposes shall not be in!luded in whi!h of the following, (a) =@< nan!ing (b) orporate nan!ing (#)5onsumer nan#in$ (d) @i!ro nan!ing 1'2. 3hat is the bailment of goods as se!urity for payment of a debt or performan!e of a promise !alled, (a) ypothe!ation (b) @ortgage (!) Cien ()P!e$e 1'5. 3ho among the following is appointed by a !ourt to loo" after the estate of a person who died without leaving a 3ICC, (a) Agent (b) Cawyer (!) Cawyer ()ministrator
1'. A!!ording to the prudential regulations for housing nan!e$ whi!h of the following !harges are applied in order to se!ure the !ollateral for the loan, (a) ypothe!ation (b)Mort$a$e (!) *ledge (d) Cien 1'8.
ow many parties are involved in a he/ue, (a) -wo (b)Three (!) Hour (d) Hive
