1-BCforFS(W09)
2-LRtoFS(W09)
3-AccountingforFS(W09)
4-MEandFS(W09)
BUSINESS COMMUNICATION FOR FINANCIAL SERVICES – STAGE-I
ISQ EXAMINATION (WINTER 2009)
Q.1 (A) Please write the alphabet of selected answer in the given space:
Q.1 (B) Complete the definitions with items given below:
A) Skills B) Inventory C) Staffing Levels
D) Overheads E) Cash Flow F) Premises
G) Investment H) Staff Input
I) Promotional Expenditure
BEATING A RECESSION
Here are a few tips for small business managers to follow during economic downturns.
1. __________________ Monitor your company’s financial health, and make
monthly forecasts to ensure that expenses and planned expenditures are in line
with accounts receivable. Be able to project where you will stand three months
in advance.
2. __________________ Examine your capital spending. Consider delaying the
purchase of high cost items, upgrading equipment, and expansion plans that
will take a long time to pay off.
3. __________________ Consider reducing stock of slow-moving products.
Observe the results, and look out for products that should be eliminated from
your stock .This way if sales plummet, less of your cash is secured in
unproductive assets.
4. ___________________ Many businesses reduce advertising during hard
times. However, increasing ad outlays during slowdowns helps a business to
get ahead of rivals who cut back.
5. __________________ You could generate extra income by subletting excess
office space.
6. __________________ A business can save huge amounts of money by buying
recycled printer cartridges and used computer equipment, copiers, and office
furniture.
7. ___________________ Organisation often cut back on training during
recessions. However, slow periods are the optional time to conduct training,
especially low-cost, on-the-job instruction.
LAWS RELATING TO FINANCIAL SERVICES – STAGE-I
ISQ Examination (Winter-2009)
Q. 1 Fill in the blanks:
Q.2 State True or False in the answer column.
Q.3 Please write the alphabet of selected answer in the given space:
Q.4 Study the following and give your answer as (Yes) or (No) with suitable
explanation. Any answer without explanation will render the answer as
incorrect.
A) A cheque is drawn ‘Pay A’ without the words ‘or order’ or ‘bearer’. Is
the cheque payable to A in person, or is transferable or negotiable by
him?
B) Do the word “Not negotiable” written across a cheque, without two
parallel transverse lines, render the cheque as crossed? Would the
drawee bank be justified in paying such a cheque across the counter.
C) A joint account is opened, either party having power to sign cheques in
individual capacity. A cheques is presented, in the handwriting of and
signed by one and altered and duly signed by the other. Is this acceptable?
D) Mr. and Mrs. Aslam are joint customers, who have deposited for safe
custody among their holdings national saving certificates purchased for
their son and daughter. The son on reaching the age of 18, requests the
bank to deliver the certificates purchased in his name claiming that he is
the true owner. This followed by a similar request from the daughter, who
is still under 18. Whether the bank should entertain their requests?
Q.5 One of your client purchased a payment order for Rs. 400,000 in favour of
Karachi Municipal Corporation. After fifteen days he approached for
cancellation surrendering the original instrument stating that the instrument
was not submitted to KMC and credit the proceeds in the account maintained
with you.
i) Whether a payment order can be cancelled at the request of the
purchaser after issuance?
ii) If after cancellation, you received a claim from KMC asking to return the
instrument as a valid beneficiary. What will be your response?
2-LRtoFS(W09)
3-AccountingforFS(W09)
4-MEandFS(W09)
BUSINESS COMMUNICATION FOR FINANCIAL SERVICES – STAGE-I
ISQ EXAMINATION (WINTER 2009)
Q.1 (A) Please write the alphabet of selected answer in the given space:
Q.1 (B) Complete the definitions with items given below:
A) Skills B) Inventory C) Staffing Levels
D) Overheads E) Cash Flow F) Premises
G) Investment H) Staff Input
I) Promotional Expenditure
BEATING A RECESSION
Here are a few tips for small business managers to follow during economic downturns.
1. __________________ Monitor your company’s financial health, and make
monthly forecasts to ensure that expenses and planned expenditures are in line
with accounts receivable. Be able to project where you will stand three months
in advance.
2. __________________ Examine your capital spending. Consider delaying the
purchase of high cost items, upgrading equipment, and expansion plans that
will take a long time to pay off.
3. __________________ Consider reducing stock of slow-moving products.
Observe the results, and look out for products that should be eliminated from
your stock .This way if sales plummet, less of your cash is secured in
unproductive assets.
4. ___________________ Many businesses reduce advertising during hard
times. However, increasing ad outlays during slowdowns helps a business to
get ahead of rivals who cut back.
5. __________________ You could generate extra income by subletting excess
office space.
6. __________________ A business can save huge amounts of money by buying
recycled printer cartridges and used computer equipment, copiers, and office
furniture.
7. ___________________ Organisation often cut back on training during
recessions. However, slow periods are the optional time to conduct training,
especially low-cost, on-the-job instruction.
LAWS RELATING TO FINANCIAL SERVICES – STAGE-I
ISQ Examination (Winter-2009)
Q. 1 Fill in the blanks:
Q.2 State True or False in the answer column.
Q.3 Please write the alphabet of selected answer in the given space:
Q.4 Study the following and give your answer as (Yes) or (No) with suitable
explanation. Any answer without explanation will render the answer as
incorrect.
A) A cheque is drawn ‘Pay A’ without the words ‘or order’ or ‘bearer’. Is
the cheque payable to A in person, or is transferable or negotiable by
him?
B) Do the word “Not negotiable” written across a cheque, without two
parallel transverse lines, render the cheque as crossed? Would the
drawee bank be justified in paying such a cheque across the counter.
C) A joint account is opened, either party having power to sign cheques in
individual capacity. A cheques is presented, in the handwriting of and
signed by one and altered and duly signed by the other. Is this acceptable?
D) Mr. and Mrs. Aslam are joint customers, who have deposited for safe
custody among their holdings national saving certificates purchased for
their son and daughter. The son on reaching the age of 18, requests the
bank to deliver the certificates purchased in his name claiming that he is
the true owner. This followed by a similar request from the daughter, who
is still under 18. Whether the bank should entertain their requests?
Q.5 One of your client purchased a payment order for Rs. 400,000 in favour of
Karachi Municipal Corporation. After fifteen days he approached for
cancellation surrendering the original instrument stating that the instrument
was not submitted to KMC and credit the proceeds in the account maintained
with you.
i) Whether a payment order can be cancelled at the request of the
purchaser after issuance?
ii) If after cancellation, you received a claim from KMC asking to return the
instrument as a valid beneficiary. What will be your response?
ACCOUNTING FOR FINANCIAL SERVICES – STAGE-I
ISQ Examination (Winter-2009)
Q.1 State True or False in the answer column.
Q.2 Please write the alphabet of the selected answer in the given space:
Q.3 Choose one of the two alternatives given below and fill in the blank in the
following statements:
Q.4 There was a credit balance of Rs 4,190/- in bank statement of the ABC Company
on 29th February, 2009. On the very date the cash book of the company showed a
debit balance of Rs 5,210/-. On going through the above records, it revealed that:
A) Payments side of cash book was under cast by Rs 500/-
B) Under mentioned charges were not entered in the cash book:
(i) With holding income tax Rs 300/-
(ii) Bank charges Rs 100/-
(iii) Profit Rs 280/-
C) The payment of Rs 350/- made by the bank in compliance with the
existing instructions of the company has not been entered in the cash book
D) A cheque amounting to Rs 1,125/- received from a customer paid into the
th st
bank on 27 February, 2009 did not appear in the bank statement till 1
March, 2009
E) Cheques drawn by the company for Rs 600/-, Rs/- 300 & Rs 175/- had not
been presented at the bank
Required:
Prepare the Bank Reconciliation Statement as at 29th February 2009.
MACRO ECONOMICS AND FINANCIAL SYSTEM OF PAKISTAN – STAGE-I
ISQ Examination (Winter-2009)
Q.1 State True or False in the answer column.
Q.2 Please write the alphabet of the selected answer in the given space:
Q.3 Two leading business executives of large concern were discussing the potential
for future business operations.
Mr. A. The new trade policy has spelled out various incentives for augmenting
export base during the next three years. We can now think about planning to
extend product range offering export potential.
Mr. B. I think the role of exports as “the driver” of economic activity and growth
is somewhat over exaggerated. The export sector cannot perform in isolation i.e.
without boosting overall economic growth and in particular domestic trade and
commerce. However, the key is conducive investment climate.
Mr. A. You may be right in long term perspective but in short-run the incentives
offered are lucrative and we can explore opportunities in export markets.
Mr. B. No., I strongly believe you need to boost domestic commerce to create new
opportunities for investment and push sustainable economic activities. Unless
you become competitive, you cannot make a successful entry in export market.
Based on the above discussion, answer the following questions:
i) Do you agree with the comments the role of exports as driver of economic growth
is exaggerated?
ii) What is the importance of a vibrant domestic market in boosting export sector?
Q.4 For an economy following information is available
Natural Rate of Employment = 5.5%
Current Unemployment Rate = 7%
Current GDP level = Rs.10.00 billion
What is the shortfall in potential GDP if Okun’s law holds?
Q.5 (A) What is hyper inflation, what factors leads to hyper inflation?
Q.5 (B) Explain how hyper inflation might lead to a severe decline in total output?
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