Question # 1

Credit instrument drawn by one bank on another bank is called

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Cheque

Bills of exchange

Bank draft

Treasury bill

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

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Inland draft

Ordered draft

Foreign draft

Home draft

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

Bank draft is an order

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Of court

Conditional

Unconditional

Of government

Bills of exchange is

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An order to pay

A request to pay

A promise to pay

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

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

Bills of exchange is a written order which is always

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Conditional

Unconditional

Partially conditional

All of the above

Bill in which drawer belonging to two different countries:

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Inland bill

Foreign bill

Accommodation bill

None of the above

The various kind of bank draft includes.

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Inland draft

Crossed bank draft

Foreign draft

All of these

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

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Drawer

Payee

Endorsee

All of the above

In case of bank draft the drawer is.

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Debtor

Creditor

Bank

Account holder

The payment of draft is made on.

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Sight

Demand

By psot

Phone call

The document which is used to transfer the deposit from one bank to another is.

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Bank draft

Promissory note

Biull of exchange

All these

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

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