VU Final Term Past Papers
9 solved final term past paper MCQs for BNK601 (Banking Laws & Practices) at Virtual University, each with the correct answer marked. Use them to learn the VU question style and test your recall. An independent study tool — not affiliated with VU.
Prefer a summary first? Read the BNK601 final term handout.
Q1. Which of the following may be cancelled or modified after its date of issue, by the issuing bank?
Q2. According to Section 36 of Banking Companies Ordinance, 1962, the Federal Government can issue a certificate of Moratorium, upon an application of State Bank, for which of the following MAXIMUM periods?
Q3. The letter of credit includes all of the following documents, EXCEPT:
Q4. Which of the following refers to “a bank for the time being included in the list of banks maintained under sub-section (1) of Section 37; under Banking Companies Ordinance, 1962”?
Q5. In letter of credit, which of the following is payable as soon as it is presented for payment?
Q6. 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”?
Q7. 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”?
Q8. All of the following are examples of Negotiable Instruments, under the Negotiable Instrument Act, 1881, EXCEPT:
Q9. According to the Contract Act, 1872, which of the following is/are the cause of a biased consent?