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Banking Awareness Quiz : The Negotiable Instruments

Banking Awareness Quiz

Friends, here we bring to you the Banking Awareness Quiz based on what we learnt earlier about The Negotiable Instruments. If you have not gone through the topic yet, read them once and attempt the test. The topic would help you in upcoming bank exams like IBPS PO, IBPS RRB Officer, IBPS RRB Assistant, RBI Grade B, IBPS Clerk, Indian Bank PO, and various other exams like, SSC, NIACL Assistant, UPSC, etc. Practicing questions daily would help you stay updated & well-prepared for upcoming Exams, and would definitely increase your chance of getting selected.

Read about The Negotiable Instruments

Banking Awareness Quiz

Q1. Which section of the Negotiable Instruments Act, 1881 deals with Negotiable Instruments?

  1. Section 4
  2. Section 118
  3. Section 6
  4. Section 7
  5. Section 138

Q2. Which of these is not a Negotiable Instrument according to Negotiable Instruments Act, 1881?

  1. Cheque
  2. Bill of Exchange
  3. Currency Note
  4. Promissory Note
  5. None of these

Q3. Section 4 of the Negotiable Instruments Act deals with:

  1. Cheques
  2. Promissory Note
  3. Hundis
  4. Bill of Exchange
  5. Both 2 and 4

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Q4. Parties to a bill of exchange are:

  1. Drawer
  2. Drawee
  3. Payee
  4. Only 1 and 2
  5. All of these

Q5. A Promissory Note is:

  1. A conditional order to pay
  2. An unconditional order to pay
  3. A conditional promise to pay
  4. An unconditional promise to pay
  5. Both 1 and 3

Banking and Government Exam : Banking Awareness Quiz

Q6. Which section of the Negotiable Instruments Act deals with Cheque?

  1. Section 6
  2. Section 5
  3. Section 118
  4. Section 7
  5. None of these

Q7. In case of a Promissory Note, there are:

  1. 3 Parties
  2. 5 Parties
  3. 2 Parties
  4. 4 Parties
  5. 6 Parties

Q8. Which of the following statements qualifies a Promissory Note?

I. I Promise to pay Shyam Rs. 50,000 on demand.

II. I Promise to pay Shyam Rs. 5,00,000 along with my car on demand.

III. I Promise to pay Shyam Rs. 50,000 and rest of the fines on demand.

  1. Only I
  2. Only II
  3. Only III
  4. Both I and II
  5. None of these.

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Q9. A Cheque:

  1. Is a type of bill of exchange
  2. Includes electronic image of a truncated cheque
  3. Payable on demand
  4. All of these
  5. Only 1 and 3

Q10. A Bill of Exchange is:

  1. A conditional promise to pay
  2. An unconditional order to pay
  3. An unconditional promise to pay
  4. A conditional order to pay
  5. Both 2 and 3

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Answer Key

Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10
4 3 2 5 4 1 3 1 4

2


That is all from us in this blog. We hope you found the above given Questions useful. You must keep visiting this page for more Study blogs, Practice Banking Awareness Quiz, Free E-books, etc related to Banking Awareness.

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