MCQs Banking in English, Credit Instruments, Cheque

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Banking & Finance

Credit Instruments

1.   Cheque

 These are credit instruments.

Cheque	Bill of exchange
Promissory Note	All

How many basic types are there of a cheque

2	3
4	5

Cashier’s cheque is.

Bank draft	Pay order
Both	none

These are the kinds of primary cheque.

Bearer cheque	Order cheque
Cross cheque	all

Are secondary types of a cheque?

Cashier’s cheque	Pay order
Open cheque	all

Negotiable instruments include.

Railway receipts	Dividend warrants
Cross cheque	all

A cheque is.

Bill of exchange	Promissory Note
Letter of credit	all

Bank will pay this cheque to any one

Bearer cheque	Order cheque
Cross cheque	all

Bank cannot pay this cheque to any one

Bearer cheque	Order cheque
Cross cheque	all

Bank can never cash this cheque

Bearer cheque	Order cheque
Cross cheque	all

When crossing is cancelled, the cheque is known as.

Confirmed cheque	Open cheque
Cashier’s cheque	none

A cheque is.

An order	A request
Promise	none

A cheque must be in form.

Order form	Writing form
Unconditional form	all

A cheque is

A conditional order	Unconditional order
Verbal order	all

Garnishee order is issued by

Central bank	Court of law
Government	all

Who can make a change in a cheque?

A/c holder	Bank
Court	government

Stale cheque is older than

3 months	6 months
9 months	12 months

Any change in a cheque must be

Singed	Written
Observed	none

Objective of dishonour of a cheque is to save

A/C holder	Bank
Payee	All

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