The Institute of Bankers Pakistan SAMPLE PAPER

STATE BANK OF PAKISTAN

SAMPLE PAPER
FOR
Law Officer (OG-3)

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The Institute of Bankers Pakistan SAMPLE PAPER

OBJECTIVE SECTION
Select the correct answer from the given options.
According to The Negotiable Instruments Act, 1881, when a promissory note or bill of
exchange has been dishonored by non-acceptance or non-payment, the holder within a
reasonable time, cause such dishonor is to be certified by a notary public, this is called:
A. Note
B. Mark
C. Register
D. Protest

As per Section 23 of the Anti-Money Laundering Act, 2010 any person aggrieved by
final decision or order of the Court may prefer an appeal to the High Court within
_______ days from the date of communication of the decision or order on any question of
law or fact arising out of such decision or order.
A. 15
B. 30
C. 45
D. 60

According to Civil Procedure Code, 1908, an executing court cannot determine the
questions relating to:
A. Execution of decree
B. Discharge of decree
C. Satisfaction of decree
D. Modification of decree

According to The Contract Act, 1872, the suggestion as a fact, of that which is not true by
one who does not believe it to be true and the active concealment of a fact by one having
knowledge or belief of the fact, is called:
A. Mistake
B. Fraud
C. Misrepresentation
D. Coercion

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The Institute of Bankers Pakistan SAMPLE PAPER

According to Criminal Procedure Code, 1898, a police officer may arrest any person
without warrant in respect of:
A. Cognizable offence
B. Non cognizable offence
C. Scheduled offence
D. Non-scheduled offence

According to the Companies Act 2017, associated companies are two or more companies
which are interconnected in all of the following manners, EXCEPT:
A. If one company holds or controls not less than 20% of voting power in the other
company
B. If the companies are under common management or control
C. If the companies have common directorships
D. If the companies have common directorship due to government nomination

SUBJECTIVE SECTION
Whether the partners, carrying on business in partnership, having availed a finance in the
name of Partnership Firm, are personally liable for repayment thereof in the event of
default where no personal guarantee has been executed by them. Explain your answer in
light of The Partnership Act, 1932.

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The Institute of Bankers Pakistan SAMPLE PAPER

Whether the State Bank of Pakistan is empowered to dissolve the Board of a Banking
Company / Financial Institution. In both the cases, Yes or No, please support your
answer with provision of the relevant Act/Ordinance.

XXX --- END OF SAMPLE --- XXX

Note: The paper may additionally cover the following laws as well:
 Pakistan Penal Code, 1860  The Negotiable Instruments Act, 1881
 Code of Criminal Procedure, 1898  The Financial Institutions (Recovery of
 Code of Civil Procedure, 1908 Finances) Ordinance, 2001
 Payment Systems and Electronic Fund
 Constitution of Pakistan, 1973 incl.
Transfer Act, 2007
amendments
 Anti-Money Laundering Act, 2010
 The Contract Act, 1872
 Microfinance Institution Ordinance,
 The Partnership Act, 1932
2001
 Specific Relief Act, 1877
 Foreign Exchange Regulation Act,
 Companies Act, 2017 1947
 Income Tax Ordinance, 2001  Financial Institutions (Secured
 Prevention of Electronic Crimes Act, Transaction) Act, 2016
2015  Deposit Protection Corporation Act,
 Banking Companies Ordinance, 1962 2016
 SBP Act, 1956  Credit Bureau Act, 2015
 Pakistan Coinage Act, 1906

Disclaimer: The questions provided in the sample are for demonstration purpose only in order to
acquaint the candidate with the paper pattern. The number of questions, complexity and depth of
coverage may vary in the actual examination.

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