Question # 1

The acceptance of bill without some condition is called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

The person in whose favour the rights of recieving the amount of cheque transferred:

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Endorser

Payee

Endorsee

All of the above

Person who recieves the amount of cheque from bank is called:

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Drawee

Payee

Endorsee

All of the above

When cheque is cashed then its main foil is given to:

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Bank

Customer

Government

None of these

If drawing of a cheque signs o its back for transferring the rights to another person is called

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Material change

Endorsement

Crossing

Acceptance

The bill of exchange who's tenor is more than three month is.

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Sight bill of exchange

Foreign bill exchnage

Long bill exchange

Short billof exchange

The bill of exchange who's tenor is less than three month is.

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Long bill of exchange

Foreign bill of exchange

Short bill of exchange

Sight bill of exchange

Bill of exchange is written order whihc is always.

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Unconditional

conditional

Compulsory

None ofthese

Term dishonoring of cheque is used when

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Bank refuses to pay

Bank stops the payments

Bank delay the payments

Bank gives cheque to clearing house

On every cheque bank gets

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Profit

Commission

Tax

Duty

Cheque is always crossed by

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Drawer

Drawee

Holder

All of the above

The acceptance of bill with some conditionis called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

Who is called a drawee of cheque

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Payee

Bank

Customer

Endorsee

In case of non-negotiable instruments, the rights can:

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Be tranferred

Not be transferred

Be conditionally transferred

All of the above

If drawer of cheque is a payee himself then what word is written after the word pay:

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Order

Bearer

Self

None of the above

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Principles of Banking Icom Part 2 English Medium Chapter 9 Online Test MCQs With Answers

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