Question # 1

Drawer and payee of inland promissory note belong to

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Same country

Different countries

Different cities

None of the above

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

On issuance of bank draft bank gets.

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Tax

Commission

Profit

Duty

The payment of draft is made on.

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Sight

Demand

By psot

Phone call

Bills of exchange has three:

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Owners

Parties

Shareholders

None of the above

Credit instrument drawn by one bank on another bank is called

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Cheque

Bills of exchange

Bank draft

Treasury bill

Bill which is drawn without any trade transcation

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Sight bill

Time bill

Trade bill

Accommodation bill

Bank draft is an order

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Of court

Conditional

Unconditional

Of government

The draft whihc is drawn and paid intwo different countries.

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Inland draft

Ordered draft

Foreign draft

Home draft

A bill which can be rediscounted from central bank

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Sight bill

Time bill

Both a and b

None of these

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

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Overdraft

Renewal

Discounting

None of the above

The bank branch on whic the draft is drawn is.

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Drawer

Payee

Drawee

None of these

Main parties of promissory note are

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One

Two

Three

Four

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 signature of the following is compulsory on B/E:

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Bank

Drawee

Drawer

Both (B) & (C)

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

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