Question # 1

Bill in which drawer belonging to two different countries:

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Inland bill

Foreign bill

Accommodation bill

None of the above

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

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Bill of exchage

Promissory note

Draft

None of these

The bank branch on whic the draft is drawn is.

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Drawer

Payee

Drawee

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

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

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Drawer

Payee

Endorsee

All of the above

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

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Overdraft

Renewal

Discounting

None of the above

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

Bank draft is a credit instrument.

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Negotiable

Non negotiable

Unreadable

None of these

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

The draft whihc is drawn and paid intwo different countries.

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Inland draft

Ordered draft

Foreign draft

Home draft

Treasury bill means:

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Amount of government

Evidence of governments debt

Promise of government to pay

None of the above

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

The payment of draft is made on.

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Sight

Demand

By psot

Phone call

Credit instrument drawn by one bank on another bank is called

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Cheque

Bills of exchange

Bank draft

Treasury bill

Draft drawn and pid in two different parties int he same country is called.

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Foreign draft

Demand draft

Local draft

None of these

Bills of exchange has three:

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Owners

Parties

Shareholders

None of the above

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

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