Question # 1

The name of the person is written on cheque as:

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Drawer

Drawee

Payee

None of these

The person in whose favour the rights of recieving the amount of cheque transferred:

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Endorser

Payee

Endorsee

All of the above

Payment of sight bill is made on.

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Demad

Fixed period

Expiry

Presentation

On every cheque bank gets

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Profit

Commission

Tax

Duty

Bank pays money at its counter for:

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Bearer cheque

Order cheque

Both (A) & (B)

Crossed cheque

Who can endorse the cheque:

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Holder of cheque

Drawer of cheque

Both A & B

None of these

Bill of exchange doesn't involved trade dealing.

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Trade bill

Accommodation bill

Both a and b

None of these

In case of non-negotiable instruments, the rights can:

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Be tranferred

Not be transferred

Be conditionally transferred

All of the above

A cheque which can be cashed by its holder

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Bearer

Order

Crossed

Plain

Grace days are given to debtors for payment.

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3 days

4 days

5 days

6 days

The acceptance of bill without some condition is called.

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Dishonor acceptance

Documentary acceptance

Qualified acceptance

General acceptance

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Person who recieves the amount of cheque from bank is called:

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Drawee

Payee

Endorsee

All of the above

Honoured cheuqe is a cheque which is

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Accepted by drawee for payment

Accepted by payee

Accepted by endorsee

All of the above

Cheque is a written order of customer to:

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keep the amount

Transfer the amount

Pay the amount

Recieve the amount

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

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