Question # 1

Bills of exchange is

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An order to pay

A request to pay

A promise to pay

All of the above

The signature of the following is compulsory on B/E:

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Bank

Drawee

Drawer

Both (B) & (C)

Treasury bill is a :

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Negotiable credit instrument

Non-negotiable credit instrument

Debentures

Shares

Bank draft is an order

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Of court

Conditional

Unconditional

Of government

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

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Bill of exchage

Promissory note

Draft

None of these

Promissory note drawn by two or more persons is called

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Individual promissory note

Joint promissory note

Foreign promissory note

All of the above

Written instrument by one bank to another bank.

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Bill of exchange

Draft

Bearer cheque

None of these

Bills of exchange is a written order which is always

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Conditional

Unconditional

Partially conditional

All of the above

How many parties are involved in bank draft.

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Four

Three

Two

None of these

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

A person who writes the bill is called

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Drawee

Drawer

Payee

Acceptor

Which is appointed by govt. to certify the negotiable instrument:

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Private attorney

Public attorney

Notary public

Giazetted Officer

A bill which can be rediscounted from central bank

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Sight bill

Time bill

Both a and b

None of these

The main characteristics of bank draft.

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Written

On demand

Certain payment

All of these

In case of bank draft the drawer is.

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Debtor

Creditor

Bank

Account holder

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

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