Question # 1

Three grace days are given to debtors for payment.

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Bill of exchange

Promissory note

Bank draft

All of these

Drawer and Drawee belongs to two diffrent cities.

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Inland bill

Short bill

Long bill

Foreign bill

Amount of crossed cheque is recieved:

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From bank's counter

Issueing new cheque

From bank's manager

None of the above

The acceptance of bill with some conditionis called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

Cheque is always crossed by

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Drawer

Drawee

Holder

All of the above

Cheque is a credit instrument which is

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Negotiable

Conditionally negotiable

Non negotiable

None of the above

The type of Foreign or international trade are.

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^Import

Export

Interport

All these

Drawer and drawee belongs to same country.

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Domestic bill

Foregin bill

Trade bill

Accommodation bill

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Crossing makes the cheque:

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Unsafe

Unacceptable

Safe

Acceptable

Endorsment of a cheque is always:

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Written

Oral

Written and registered

All of the above

What is written on the leaf of a cheque about customer

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Name

Address

Telephone number

Account number

Bill of exchange is written order whihc is always.

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Unconditional

conditional

Compulsory

None ofthese

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

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Debtor

Payee

Drawee

Acceptor

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

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