Sunday, June 19, 2016

1. On a cheque issued by a customer, the words bearer or order are not written. This cheque will be treated as?
 A bearer cheque
 An order cheque
 This not a valid cheque
 This is not a negotiable instrument now
 None of the above

2. W.e.f. 1.4.2012, the validity period of cheque is _______ as per RBI directions?

 3 months
 4 months
 6 months
 12 months
 None of the above

3. On a cheque issued by a customer, the words bearer or order are written. This cheque will be treated as?
 A bearer cheque
 An order cheque
 This not a valid cheque
 This is not a negotiable instrument now
 None of the above

4. Courtesy amount in a cheque stands for?
 amount in words
 amount in figures
 amount written as not over
 amount in words and figures, whichever is higher
 None of the above

5. On which of the following types of cheques alterations are not allowed by RBI?
 Paper cheque
 CTS cheque
 Electronic cheque
 Cheque with account payee crossing
 None of the above

6. Which of the following statement is correct?
 bearercheque can be transferred with endorsement and delivery only
 ordercheque can be transferred with endorsement only
 After a blank endorsement on an order cheque, the cheque can be negotiated further with delivery only
 endorsement on a bearer cheque makes it an order instrument
 None of the above

7. Which of the following types of cheques can be endorsed?
 account payee cheques
 bearer cheques
 cheques payable to the order
 cheque with restricted endorsement
 None of the above

8. Which of the following cannot be endorsed?
 A fixed deposit receipt
 A bank draft
 A Promissory note
 A usance bill of exchange
 A cheque

9. Restrictive endorsement is one in which?
 Endorser endorses an instrument conditionally
 Endorser restricts the further transfer by the endorsee
 Endorser endorses in favour of endorsee for his particular work
 All of the above
 None of the above

10. Account payee crossing is an direction of the drawer to?
 To collecting banker
 To drawee banker
 To payee
 To all endorsees
 None of the above

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