Top 150+ Solved Banking and Finance 3 MCQ Questions Answer
Q. In a bill of exchange, drawee is the person
a. who draws the bill
b. on whom the bill is drawn
c. to whom the payment of the bill is to be made
d. to whom the payment of the bill is not to be made
Q. ------------ is a dead cheque
a. Post dated cheque
b. Stale cheque
c. Ante dated cheque
d. Pre dated cheque
Q. Name the person to whom the amount of the cheque is payable?
a. Drawer
b. Payee
c. Drawee
d. Acceptor
Q. Discounting of bills of exchange is
a. Clean advance
b. Secured advance
c. Neither clean advance nor secured advance
d. Unsecured advance
Q. Expand NEFT
a. National Electronic Fund Transfer
b. Neutral Electronic Fund Transfer
c. Nominal Electronic Fund Transfer
d. Natural Electronic Fund Transfer
Q. A negotiable instrument drawn or make in India is called_______ instrument.
a. Inland
b. Foreign
c. Time
d. Clean
Q. The following one is a negotiable instrument, negotiable by usage or custom
a. Bill of Exchange
b. Accommodation Bill
c. Promissory Note
d. Share warrant
Q. The most important feature of a negotiable instrument is
a. Free transfer
b. Transfer free from defects
c. Right to sue
d. Both A & B
Q. The following one is absolutely essential for a special crossing.
a. Two parallel transverse lines
b. Words "And company?
c. Words "Not negotiable"
d. Name of a banker
Q. The reasonable period allowed in India for the presentation of a cheque is
a. 1 year
b. 3 months
c. 9 months
d. depending upon custom
Q. Section 6 of the Negotiable Instruments Act defines ___.
a. Cheque
b. Bill of Exchange
c. Promissory Notes
d. Dishonour by non-payment
Q. If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds __
a. All the parties except minor
b. All the parties including minor
c. Minor Only
d. Minor and Only Drawer