Top 150+ Solved Banking and Finance 3 MCQ Questions Answer
Q. The paying banker is protected under following SECTION for payment of cheque with forged signatureof the drawer.
a. Sec 89 of N.I act
b. sec 85[1] of N.I act
c. sec 131 of N.I act
d. no protection is available
Q. Which banker gets protection under section 85 of Negotiable Instrument Act, 1881?
a. Collecting banker.
b. Paying banker.
c. Issuing banker.
d. Both a and b.
Q. Protection to the Paying Bank in case of alteration in a cheque is available under.
a. Sec 85 of NI act
b. Sec 89 of NI act
c. Sec 90 of NI act
d. Sec 98 of NI act
Q. The paying banker is expected to pay the cheque to the genuine payee as per the direction of the drawer.
a. True
b. False
c. none
d. none
Q. The paying banker should pay the cheque when there is restriction imposed on the payment by the drawer or by the law.
a. True
b. False
c. none
d. none
Q. Section 45 of the Negotiable instruments Act, has imposed upon the banker the obligation to honourcustomers cheques.
a. True
b. False
c. none
d. none
Q. The banker has a statutory obligation to.........
a. Honour customers' cheque
b. Exercise lien
c. Maintain secrecy of his customers' accounts
d. Honour customers' bill