Anyone who has cleared level I for IBP diploma

[Mahtab]

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Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
ii. A banker’s authority to pay a cheque is determined on receipt of notice of death of the customer.
9.3 Notice of Customer’s insolvency
9.4 Notice of Customer’s insanity
9.5 Legal orders attaching customer’s account
8.7 Banker’s Objections on unpaid cheques
Chapter – XI Clearing and Settlement
11.1 Mechanism
11.2 Payment instruments
11.3 Items dealt with outside the clearing system
11.4 Clearing System – National Institutional Facilitation Technologies (NIFT)
Q.1 Fill in the blanks (10) (Summer-2006) b. The Institution managing cheques clearing system in Pakistan is known as _____________;
11.5 Clearing Services offered
11.6 Basic Services and Facilities offered by NIFT
11.7 Clearing may be divided into
Outward Clearing
Inward Clearing
Same day Clearing
11.8 Outward Clearing
11.9 US Dollars Instruments Collection and Settlement System
11.9.1 Instruments
11.9.2 Collection & Settlement Schedule
11.9.3 Mandatory Settlement
11.9.4 Processing Cycle
11.9.5 Date Stamp
11.9.6 Settlement
11.9.7 Settlement Statements
11.9.8 Forced Retention
11.9.9 Settlement in Case of Insufficient Balances
11.9.10 Settlement Charges
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
i In Pakistan clearing and settlement system only entertains Pak Rupee denominated instruments and not the US Dollars instruments.
III. Ancillary Banking Operations
Inland remittances and bills for collection --- Issue and payment of pay order and demand drafts, T.Ts. and M.Ts Cancellation and issue of duplicate pay orders and draft; inward and outward clean and documentary bills for collection; clean and documentary bills purchased; processing and reconciliation of inter-branch transactions Subsidiary services rendered by modern banks --- safe custody; common courtesy / status opinions; standing instructions; purchase and sale of stocks and shares; other agency services; travellers' cheques;