Question # 1

An unconditional order of payment by one bank to another bank.

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Bill of exchage

Promissory note

Draft

None of these

Which is appointed by govt. to certify the negotiable instrument:

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Private attorney

Public attorney

Notary public

Giazetted Officer

Credit instrument drawn by one bank on another bank is called

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Cheque

Bills of exchange

Bank draft

Treasury bill

Grace days are given to debtor for the patment of:

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Bills of exchange

Promissory note

Treasury bill

Cheque

Negotiable credit instrument do not include.

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Bank draft

Cheque

Postal orders

Treasury bill

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

Drawee of the bank draft is a

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Bank which issues a draft

Bank on which the draft is drawn

Payee of draft

Sender of amount by draft

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

Bills of exchange can be cashed from bank before maturity by:

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Overdraft

Renewal

Discounting

None of the above

Bills of exchange has three:

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Owners

Parties

Shareholders

None 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

Bills of exchange is

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An order to pay

A request to pay

A promise to pay

All of the above

Bank draft is an order

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Of court

Conditional

Unconditional

Of government

How many parties are involved in bank draft.

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Four

Three

Two

None of these

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

Bank draft onece issued can not be.

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Honored

Dishonored

sent

Paid

Draft Drawn and paid in two differnet countries is called.

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Foreign draft

Demand draft

Local draft

None of these

A person who writes the bill is called

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Drawee

Drawer

Payee

Acceptor

The bills of exchange which is paid after the expiry of fixed period of time called

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Accommodation bill

Sight bill

Time bill

All of the above

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