Q. Name the person to whom the amount of the cheque is payable?
✅ Correct Answer: (C)
Drawee.
Banking and Finance 3 MCQs and Notes
Q. Services rendered by a banker not only to his customers, but also to the general public are called as
✅ Correct Answer: (C)
General utility services
Q. The Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed ___% of the cheque amount?
✅ Correct Answer: (D)
20%
Q. Which of the followings are not the Negotiable Instruments as defined by the Statute…
✅ Correct Answer: (A)
Banker’s Note
Q. Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?
✅ Correct Answer: (A)
Section 5
Q. Dishonour of Negotiable Instrument by Non Payment is covered under section in Negotiable Instrument Act 1882…
✅ Correct Answer: (C)
Section 92
Q. If a Minor draw, indorse, deliver and negotiate Negotiable Instruments, it binds __
✅ Correct Answer: (A)
All the parties except minor
Q. Section 6 of the Negotiable Instruments Act defines ___.
✅ Correct Answer: (A)
Cheque
Q. The reasonable period allowed in India for the presentation of a cheque is
✅ Correct Answer: (B)
3 months