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Banking Awareness Test 69
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Banking Awareness Test 69
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  • Question 1/10
    1 / -0

    When the words “or bearer” appearing on the face of the cheque are not cancelled, then the cheque is called a __________

    Solutions

    A bearer cheque can be issued to a third party in his name or in the name of the firm, who can draw the amount across the counter of the bank.

     

  • Question 2/10
    1 / -0

    When the word “bearer” appearing on the face of a cheque is cancelled and when in its place the word “or order” is written on the face of cheque is called ____________

    Solutions

    When the word “or bearer” printed on the cheque is cancelled and and the word ‘order’ may be written on the cheque, the cheque is called an order cheque. An order cheque is one which is payable to a particular person. The payee can transfer an order cheque to someone else by signing his or her name on the back of it.

     

  • Question 3/10
    1 / -0

    Which means drawing two parallel lines on the face of cheque with or without additional words like “& CO” or “account payee” or “Not Negotiable”?

    Solutions

    Any cheque that is crossed with two parallel lines, either across the whole cheque or through the top left hand corner of the cheque is called crossed cheque. It has been marked to specify an instruction about the way it is to be redeemed.

     

  • Question 4/10
    1 / -0

    If any cheque bears a date earlier than the date on which is presented to the bank is called ___________

    Solutions

    An ante-dated cheque is one which bears a date earlier than the date of issue.

     

  • Question 5/10
    1 / -0

    If any cheque bears a date which is yet to come then it is known as___________

    Solutions

    post-dated cheque is a cheque written by the drawer (payer) for a date in the future.

     

  • Question 6/10
    1 / -0

    A Cheque which is torn into two or more pieces and presented for payment, such a cheque is called _________

    Solutions

    If a cheque is torn into two or more pieces such cheque is Mutilated Cheque. If that cheque is presented for payment,then the bank will not make payment against such a cheque without getting confirmation of the drawer.But if a cheque is torn at the corners and no material fact is erased or cancelled, the bank may make payment against such a cheque.

     

  • Question 7/10
    1 / -0

    If a cheque is presented for payment after three months from the date of the cheque is called ______

    Solutions

    A stale check is not an invalid check, but it may be deemed an ‘irregular’ bill of exchange.

     

  • Question 8/10
    1 / -0

    Which of the following cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account?

    Solutions

    A self cheque: A self cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account.

     

  • Question 9/10
    1 / -0

    A cheque which is truncated during the course of clearing cycle is called __________

    Solutions

    A truncated cheque means a cheque which is truncated during the course of clearing cycle either by the clearing house or by the bank.

     

  • Question 10/10
    1 / -0

    Person named in the instrument to whom or to whose order the money is to be paid is known as ______

    Solutions

    A person to whom money is paid or is to be paid, especially the person to whom a cheque is made payable.

     

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