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Old Thursday, May 07, 2015
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Default [Summer] 2011: Retail and Consumer Banking Operations

THE INSTITUTE OF BANKERS PAKISTAN
ISQ Examination (Summer-2011)
RETAIL & CONSUMER BANKING OPERATIONS

Q.1 Please write the alphabet of the selected choice in the answer column:

Q.2 Write the answers to the questions in ONE SIMPLE SENTENCE each:

1) What is the name of the central bank of Pakistan?
2) Name consumer secured loan products.
3) What is a debit card?
4) What is credit rating?
5) Define a cheque according to Negotiable Instruments Act, 1881.
6) What does ‘DDC’ stand for in Prudential Regulation?
7) What is a loose cheque?
8) What does SME stand for?
9) What is an ATM?

Q.3 Mr. Haroon wants to open a joint saving account with his wife Mrs. Safia Haroon, because his job required a lot of travelling outside the city and he likes his family not to have difficulty in operating the account. Discuss the following options with him:
A) He should open a joint account with “either or survivor” option.
B) He should open a joint account with his wife as signatory.

Q.4 Explain the action you will take in the following situations:
A) A valued customer wants to withdraw a sum of Rs.25000/- from his current account maintained in your branch. He has no cheque book which you have issued to him and he is asking you for a loose cheque.
B) Mr. Muzaffar brings a bearer cheque having a simple general crossing (&Co.). He wants encashment because he is insisting on it being a ‘bearer cheque’.

Q.5 Mr. Adnan Mehmood is a manager in a well reputed company, drawing Rs.72,000/= per month and his take home salary is Rs.58,000/- per month. He wants to purchase a small car of 1000cc and has come to your bank for a car loan of Rs.650,000/- repayable in 36 monthly installments.

He is willing to make a down payment of Rs.120,000/-. How will you handle this case?

Q.6 A customer of your bank presents a demand draft drawn on your branch and desires cash payment against it. The draft has following peculiarities.
How will you handle this case?
A) It is payable to order and it is not crossed.
B) Instead of 5th March, 2011, the date of issue is mentioned as 5th March, 2010.
C) The draft has been signed by only one authorised officer of the issuing branch.

Q.7 Mr. Khairullah has deposited Rs. 3.5 Million in term (fixed) deposits for 3 years. He desires payment of the half yearly return in cash and not credit to his savings accounts maintained in your branch. What action would you like to take in this situation?

Q.8 Bright Start Trust is devoted to promotion of education. It is a registered trust being managed by one trustee and two joint trustees. The trustees have approached you to open the account of this trust in your branch. Answer the following questions in this connection:
A) What formalities are to be completed before you open the account?
B) Which documents needs to be submitted by the trustee and why?
C) If authorized to open, what precautions you will take in operating / maintaining this account?

Q.9 Mr. Jamshed has nominated his brother Mr. Afaq as ‘next of kin’ in his account opening form when he opened the account in your branch. Mr. Afaq knows about it. He has now approached you for knowing the balances and position of various accounts maintained by Mr. Jamshed in your branch. Discuss the action you will take in this particular situation.
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