Question # 1

The payment of draft is made on.

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Sight

Demand

By psot

Phone call

Treasury bill means:

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Amount of government

Evidence of governments debt

Promise of government to pay

None of the above

A person in whose favour the rights of bill are transferred is called

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Drawer

Payee

Endorsee

All of the above

Drawer and payee of inland promissory note belong to

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Same country

Different countries

Different cities

None of the above

A bill which can be rediscounted from central bank

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Sight bill

Time bill

Both a and b

None of these

A person who writes the bill is called

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Drawee

Drawer

Payee

Acceptor

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

The draft which is drawn and paid in two different countries.

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Inland draft

Ordered draft

Foreign draft

Home draft

Retirement of bill means

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Payment of bill before due date

Dishonoring of bill due to non-payment

Protesting of bill

Dishonoring of bill due to non-acceptance

Drawee fo bills of exchange is a person

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Who receives the amount of bill

On whom the bill is drawn

Who accepts the bill

In whose favour the bill is transferred

Promissory note means a:

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Promise to pay fixed amount on fixed date

Promise to pay currency notes on fixed date

Promise to pay goods on fixed date

All of the above

Main parties of promissory note are

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One

Two

Three

Four

Bills of exchange is a written order which is always

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Conditional

Unconditional

Partially conditional

All of the above

Endorser of promissory note is a :

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Person who promises to pay

Person who receives the amount of note

Person in whose favour the rights are transferred

Person who trasfers the rights of note

The main content sof bank draft.

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bank branch

Payee

Date

All of these

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Principles of Banking Icom Part 2 English Medium Chapter 10 Online Test MCQs With Answers

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