A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder‟s signature is known as ___________ A. Travellers cheque B. Multicity Cheque C. Mutilated Cheque D. Crossed Cheque

A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder‟s signature is known as ___________ A. Travellers cheque B. Multicity Cheque C. Mutilated Cheque D. Crossed Cheque
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A. Travellers cheque Explanation: Traveller‘s cheque is a medium of exchange that can be used in place of hard currency. Traveller‘s cheques are often used by individuals travelling on vacation to foreign countries.
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________ is a cheque rather an amount of cheque, which is above the balance available in the account of the payer. A. Travellers cheque B. Multicity Cheque C. Mutilated Cheque D. Over Draft

Description : ________ is a cheque rather an amount of cheque, which is above the balance available in the account of the payer. A. Travellers cheque B. Multicity Cheque C. Mutilated Cheque D. Over Draft

Last Answer : D. Over Draft Explanation: An overdraft is an extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the account has no funds in it.

Which of the following cheque issued by a customer under a pre-approved arrangement with the bank? A. Travellers cheque B. Multi-city Cheque C. Mutilated Cheque D. Crossed Cheque

Description : Which of the following cheque issued by a customer under a pre-approved arrangement with the bank? A. Travellers cheque B. Multi-city Cheque C. Mutilated Cheque D. Crossed Cheque

Last Answer : B. Multi-city Cheque Explanation: A Multi-City Cheque (MCC) is one that can be written by the customer in favour of his client and is payable at par at all branches of the Bank. These are issued as Order Cheque.

To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor A. Holder of the instrument B. Indorser of the instrument C. Indorsee of the instrument D. None of the above.

Description : To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor A. Holder of the instrument B. Indorser of the instrument C. Indorsee of the instrument D. None of the above.

Last Answer : A. Holder of the instrument

The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof B. The payment by a bank on a negotiable instrument after due verification of the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above.

Description : The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above

Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof

In cheque payment protocol, the purchase order form is signed by purchaser using a. his public key b. his private key c. his private key using his signature hardware d. various public keys

Description : In cheque payment protocol, the purchase order form is signed by purchaser using a. his public key b. his private key c. his private key using his signature hardware d. various public keys

Last Answer : c. his private key using his signature hardware  

The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called __________ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Description : The endorser expresses that he/she would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called ... Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Sans recourse Endorsement

Last Answer : E. Sans recourse Endorsement Explanation: The endorser expresses that he would not be liable for any expenses incurred by endorsee or any holder, in case of dishonour of the instrument the endorsement is called Sans recourse Endorsement.

If the endorser signs, but does not give his/her name to whom he/she wishes to transfer the cheque is called _________ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Blank Endorsement

Description : If the endorser signs, but does not give his/her name to whom he/she wishes to transfer the cheque is called _________ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Blank Endorsement

Last Answer : E. Blank Endorsement Explanation: If the endorser signs, but does not give his name to whom he wishes to transfer the cheque is called Blank Endorsement.

The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by a) Cash only b) By crossed cheque c) By Credit into saving accounts d) Either B or C

Description : The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by a) Cash only b) By crossed cheque c) By Credit into saving accounts d) Either B or C

Last Answer : d) Either B or C

Which of the following is not a type of cheque issued by an individual? A. Bearer Cheque B. Crossed Cheque C. Order Cheque D. Savings Cheque

Description : Which of the following is not a type of cheque issued by an individual? A. Bearer Cheque B. Crossed Cheque C. Order Cheque D. Savings Cheque

Last Answer : D. Savings Cheque Explanation: An order cheque can be a bearer cheque if the words or bearer are not cancelled out.A crossed cheque is a cheque that has been marked to specify an instruction about the way it is to be redeemed.

_______ is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque. A. Crossed Cheque B. Open Cheque C. General Crossing D. Restrictive Crossing E. None of the Above

Description : _______ is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque. A. Crossed Cheque B. Open Cheque C. General Crossing D. Restrictive Crossing E. None of the Above

Last Answer : B. Open Cheque Explanation: An open cheque is a cheque that is not crossed on the left corner and payable at the counter of the drawee bank on presentation of the cheque.

The safest form of Crossed Cheque is _____ A. Double Crossing B. General Crossing C. Special Crossing D. Account payee crossing E. None of the Above

Description : The safest form of Crossed Cheque is _____ A. Double Crossing B. General Crossing C. Special Crossing D. Account payee crossing E. None of the Above

Last Answer : D. Account payee crossing Explanation: In Account payee crossing the amount will not be paid to anybody over the counter. It will be credited to the account of the payee only. Thus account payee crossing ensures safe transfer of funds.

The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Description : The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Last Answer : B. Facultative Endorsement

Which of the following endorsement specifies the name of the transferee for the payment of the bill? A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Special Endorsement

Description : Which of the following endorsement specifies the name of the transferee for the payment of the bill? A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Special Endorsement

Last Answer : E. Special Endorsement Explanation: An endorsement which specifies the name of the transferee for the payment of the bill is called special endorsement.

If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called _______ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Both (A) and (B)

Description : If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called _______ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Both (A) and (B)

Last Answer : C. Conditional Endorsement Explanation: If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called Conditional Endorsement.

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Description : A crossed cheque is one, which can be encashed only at which bank? -Do You Know?

Last Answer : answer:

What do you mean by crossed cheque?

Description : What do you mean by crossed cheque?

Last Answer : What do you mean by crossed cheque?

When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Description : When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Last Answer : A. Specially

Who among the following cannot cross a cheque? A. Drawer B. Holder C. Banker D. Foreigner.

Description : Who among the following cannot cross a cheque? A. Drawer B. Holder C. Banker D. Foreigner.

Last Answer : B. Holder

Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section 49) B. Yes, the holder can, without signing his own name, and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank into an indorsement in full (Section 49) C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)

Payment for purchase of a certificate may be made by a) Cash or cheque b) Pay order or DD c) Matured Certificate/SB Wdl d) All the above

Description : Payment for purchase of a certificate may be made by  a) Cash or cheque b) Pay order or DD c) Matured Certificate/SB Wdl d) All the above

Last Answer : d) All the above

A woman went into a bank to cash an insurance refund check. By mistake the teller gave her dollars for cents and cents for dollars. She put the money in her purse but accidentally dropped a nickel on the floor. When she got home, she found that she had exactly twice the amount of the check she had cashed. She didn't have any money in her wallet before going to the bank. What was the exact amount of that check? -Riddles

Description : A woman went into a bank to cash an insurance refund check. By mistake the teller gave her dollars for cents and cents for dollars. She put the money in her purse but accidentally dropped a nickel on ... money in her wallet before going to the bank. What was the exact amount of that check? -Riddles

Last Answer : The amount must have been $31.63. She received $63.31. After she dropped a nickel there would remain the sum of $63.26, which is twice the amount of the check.

The date of purchase of certificate when payment made by cheque will be a) The actual date of cheque accepted by postmaster b) The date of cheque accepted by the Head office c) The date of when cheque received after clearance d) None of these

Description :  The date of purchase of certificate when payment made by cheque will be a) The actual date of cheque accepted by postmaster b) The date of cheque accepted by the Head office c) The date of when cheque received after clearance d) None of these

Last Answer : c) The date of when cheque received after clearance

If a MO is lost after payment a) Duplicate MO will be prepared by office of issue b) Duplicate mo will be prepared by office of payment c) Certificate of payment will be prepared by office of payment d) Memo of admission of payment will be prepared by office of issue and on receipt, the office of payment will get the signature of the payee in the memo and forward it to the Audit Office.

Description : If a MO is lost after payment a) Duplicate MO will be prepared by office of issue b) Duplicate mo will be prepared by office of payment c) Certificate of payment will be prepared by office of payment ... of payment will get the signature of the payee in the memo and forward it to the Audit Office.

Last Answer : d) Memo of admission of payment will be prepared by office of issue and on receipt, the office of payment will get the signature of the payee in the memo and forward it to the Audit Office.

On a Cheque instead of two parallel lines only bank‟s name is written is known as _________ A. Payable to bearer B. General Crossing C. Special Crossing D. Both (B) and (C) E. None of the Above

Description : On a Cheque instead of two parallel lines only bank‟s name is written is known as _________ A. Payable to bearer B. General Crossing C. Special Crossing D. Both (B) and (C) E. None of the Above

Last Answer : C. Special Crossing Explanation: When a particular bank s name is written in between the two parallel lines the cheque is said to be specially crossed.The effect of special crossing is that ... is written in the crossing. Specially crossed cheques are more safe than a generally crossed cheques.

Payment of crossed Indian Postal order will be made a) By cash b) Direct to the payee c) Through PO Saving bank or any of the bank d) All the above

Description : Payment of crossed Indian Postal order will be made a) By cash b) Direct to the payee c) Through PO Saving bank or any of the bank d) All the above

Last Answer : c) Through PO Saving bank or any of the bank

If a person dies and is at time of death the holder of a saving certificate and there is no nomination in force _____should be produced within 3 month for payment a) Death and probate of his willb) Letter of administration of his estatec) A succession certificate granted under the Indian succession act 1925,d) Any one of the abovee) None of these

Description : If a person dies and is at time of death the holder of a saving certificate and there is no nomination in force _____should be produced within 3 month for payment a) Death and probate of his will ... certificate granted under the Indian succession act 1925, d) Any one of the above e) None of these

Last Answer : d) Any one of the above

Budget card requires monthly payment on behalf of that ______.(a) holder b) banker c) seller)

Description : Budget card requires monthly payment on behalf of that ______.(a) holder b) banker c) seller)

Last Answer : (a) holder

What is minimum amount may be withdrawn by a cheque from a cheque saving account? a) Rs 500/- b) Rs 100/- c) Rs 100/- d) Rs 20/

Description : What is minimum amount may be withdrawn by a cheque from a cheque saving account? a) Rs 500/- b) Rs 100/- c) Rs 100/- d) Rs 20/

Last Answer : d) Rs 20/

Mark the correct option a) Minor cannot appoint a messenger for making withdrawal from SB account b) At the time of making a withdrawal by cheque from saving account not necessary to provide pass bookc) The amount annual interest added in a saving account may not be treated as transaction in that accountd) All the above

Description : Mark the correct option a) Minor cannot appoint a messenger for making withdrawal from SB account b) At the time of making a withdrawal by cheque from saving account not necessary to provide pass book ... added in a saving account may not be treated as transaction in that account d) All the above

Last Answer : d) All the above

What are the differences between payment voucher, journal and cheque?

Description : What are the differences between payment voucher, journal and cheque?

Last Answer : paying cheques drawn by customers in the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated ... is considered indispensable by most businesses and individuals. Non-banks that provide payment service

Does a bounced cheque affect your credit score, even if no loan payment is involved?

Description : Does a bounced cheque affect your credit score, even if no loan payment is involved?

Last Answer : Bounced cheque doesn't affect the credit score until the payment is related to a loan transaction.Banks doesn't report transactions to credit bureaus. but remember that when you take a loan in ... transactions.but if the same problem persists then bank could deny the loan. hope this helps

(i) Refusal by the bank to make payment of a cheque.

Description : (i) Refusal by the bank to make payment of a cheque.

Last Answer : Give one word/term/phrase which can substitute each of the following statements: (i) Refusal ... making payment to outside parties through the bank.

(i) When a bank refuses to make the payment of the cheque, it is said to be ________

Description : (i) When a bank refuses to make the payment of the cheque, it is said to be ________

Last Answer : Complete the following sentences: (i) When a bank refuses to make the payment of the cheque, ... v) _________ advance is given to the petty cashier.

Write a letter to the bank to stop the payment of the cheque.

Description : Write a letter to the bank to stop the payment of the cheque.

Last Answer : Write a letter to the bank to stop the payment of the cheque.

What do you mean by stop payment of cheque?

Description : What do you mean by stop payment of cheque?

Last Answer : What do you mean by stop payment of cheque?

Which one is not online payment mode? a) Cash on delivery b) Debit card c) Credit card d) E-cheque

Description : Which one is not online payment mode? a) Cash on delivery b) Debit card c) Credit card d) E-cheque

Last Answer : d) E-cheque

Which one is not an offline payment mode? a) Cash on delivery b) Cash before delivery c) Demand draft d) E-cheque

Description : Which one is not an offline payment mode? a) Cash on delivery b) Cash before delivery c) Demand draft d) E-cheque

Last Answer : b) Cash before delivery

Which one is not an E-payment method used in India a) Debit card b) Credit card c) E-cheque d) None of the above

Description : Which one is not an E-payment method used in India a) Debit card b) Credit card c) E-cheque d) None of the above

Last Answer : d) None of the above

Which of the following is an Internet-based company that makes it easy for one person to pay another over the Internet? a. electronic cheque b. electronic bill payment c. Conversion rates d. Financial cybermediary

Description : Which of the following is an Internet-based company that makes it easy for one person to pay another over the Internet? a. electronic cheque b. electronic bill payment c. Conversion rates d. Financial cybermediary

Last Answer : d. Financial cybermediary

Cheque payment of Postage from the holders of Franking machine licenses can be accepted with bank guarantee. The above said statement is a. True b. False

Description : Cheque payment of Postage from the holders of Franking machine licenses can be accepted with bank guarantee. The above said statement is a. True b. False

Last Answer : b. False

Payment of the fees can be made through a) cheque c) demand draft b) cash d) none of above

Description : Payment of the fees can be made through a) cheque c) demand draft b) cash d) none of above

Last Answer : demand draft

Cheque card issued by a bank which guarantees the payment of_______ within prescribed limit. (a) Cheque b) purchase c) cash

Description : Cheque card issued by a bank which guarantees the payment of_______ within prescribed limit. (a) Cheque b) purchase c) cash

Last Answer : (a) Cheque

Crossing of a cheque effect the A. Negotiability of the cheque B. Mode of payment on the cheque C. Both (a) and (b) D. None of the above

Description : Crossing of a cheque effect the A. Negotiability of the cheque B. Mode of payment on the cheque C. Both (a) and (b) D. None of the above

Last Answer : C. Both (a) and (b)

which one is not an E‐payment method used in India a. Debit card b. Credit card c. e‐cheque d. none

Description : which one is not an E‐payment method used in India a. Debit card b. Credit card c. e‐cheque d. none

Last Answer : d. none

Which one is an online payment mode? a. Cash on delivery b. Cash before delivery c. Demand drafts d. e‐cheque

Description : Which one is an online payment mode? a. Cash on delivery b. Cash before delivery c. Demand drafts d. e‐cheque

Last Answer : d. e‐cheque

Which one is not an online payment mode? a. Cash on delivery b. Debit card c. Credit card d. e‐cheque

Description : Which one is not an online payment mode? a. Cash on delivery b. Debit card c. Credit card d. e‐cheque

Last Answer : a. Cash on delivery

Which one is not an offline payment mode? a. Cash on delivery b. Cash before delivery c. Demand drafts d. e‐cheque

Description : Which one is not an offline payment mode? a. Cash on delivery b. Cash before delivery c. Demand drafts d. e‐cheque

Last Answer : d. e‐cheque

The E‐payment mechanism widely used in B2B is a. Credit card b. Debit card c. Master card d. E‐cheque

Description : The E‐payment mechanism widely used in B2B is a. Credit card b. Debit card c. Master card d. E‐cheque

Last Answer : d. E‐cheque

The Secure Electronic Transaction protocol is used for a. credit card payment b. cheque payment c. electronic cash payments d. payment of small amounts for internet services

Description : The Secure Electronic Transaction protocol is used for a. credit card payment b. cheque payment c. electronic cash payments d. payment of small amounts for internet services 

Last Answer : a. credit card payment