Question # 1

Collateral parties in bill of exchange are.

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Acceptor

Endorser

Endorsee

All these

Which type of a bill can be discounted form bank.

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Sight bill

Time bill

Dishonored bill

Unaccepted bill

Crossing of cheque is cancelled by

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Drawer

Drawee

Holder

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

The person who accept the of billof excange on behalf of drawee is called.

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Debtor

Payee

Drawee

Acceptor

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

Honoured cheuqe is a cheque which is

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Accepted by drawee for payment

Accepted by payee

Accepted by endorsee

All of the above

Cheque is a written order of customer to:

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keep the amount

Transfer the amount

Pay the amount

Recieve the amount

Who is called a drawee of cheque

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Payee

Bank

Customer

Endorsee

Drawer and drawee belongs to same country.

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Domestic bill

Foregin bill

Trade bill

Accommodation bill

The acceptance of bill without some condition is called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

The person who will receive the amount of bill of exchange is.

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Debtor

Payee

Drawee

Acceptor

Cheque signed by drawer without filling is called

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Plain

Blank

Open

Traveller's cheque

A cheque which cannot be cashed at bank's counter

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Bearer

Order

Crossed

None of the above

Who can endorse the cheque:

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Holder of cheque

Drawer of cheque

Both A & B

None of these

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

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