Top Ad unit 728 × 90

Recent

recent

LATEST POLICY QNS --23 TO 50


NI Act related questions
23.        A cheque actually written on Jan 30, 2013 has been dated Jan 20, 2013. This cheque would be called:
a) post-dated cheque      b) ante-dated cheque      c) stale cheque
d) inchoate cheque
24.        A cheque has been dated Jan 30, 2013 and it was actually written on Jan 20, 2013. This cheque would be called:
a) post-dated cheque      b) ante-dated cheque      c) stale cheque
d) inchoate cheque
25.        A cheque dated Jan 24, 2013 is presented for payment on April 24, 2013. It shall not be paid by the bank because it is:
a) post-dated cheque      b) ante-dated cheque      c) stale cheque
d) inchoate cheque
26.           A cheque has been issued by Mr. X from his current account. He forgot to write date in the date column of the cheque. This cheque will be called:
a) post-dated cheque      b) ante-dated cheque      c) stale cheque
d) inchoate cheque
27.          A cheque dated Jan 20, 2013, actually written on Jan 30, 2013 is presented for payment on February 12, 2013. This account was opened on Jan 28, 2013.
a) cheque cannot be paid as it is post dated cheque
b) cheque shall be paid as it is an ante-dated cheque 
c) cheque shall not be paid because cheque is dated prior to date of opening the account.
d) cheque in this form cannot be paid it is not drawn properly.
28.        When a post-dated cheque is paid, the bank is exposed to following types of risk (1) death of payee (2) dishonour of some other cheque for insufficiency of balance in the account (3) stop payment by drawer (4) insolvency of the drawer
            a) 1 to 4 all        b) to 4 only        c) 1, 2 and 4 only           d) 1, 3 and 4 only
29.        Validity period of cheque has been restricted to ______ by RBI w.e.f.
                 a)  6 months, 01.01.2012           b) 3 months, 01.01.2012
             c) 3 months, 01.04.2012          d) 3 months, 01.04.2011
30.         Validity period of cheque has been restricted by RBI by issuing directives to banks u/s ______ of _______ Act:
a) Section 21, RBI Act                            b) Section 35, Negotiable Instrument Act
c) Section 35, Banking Regulation Act     d) Section 35 A, Banking Regulation Act
31.           To initiate action for dishonour of cheque due to insufficiency of funds u/s 138 NI Act, the cheque is required to be presented within its validity period maximum within 
a) one year        b) six months    c) three months             d) one month
32.           As per CTS 2010 Standard guidelines of RBI, which of the following statements are correct (1) legal amount of a cheque refers to amount written in words (2) legal amount of a cheque refers to amount written in figures (3) courtesy amount of a cheque refers to amount written in words (4) courtesy amount of a cheque refers to amount written in figures
a) only 1            b) 1 and 4 only               c) 2 and 3 only               d) only 3
33.        As per RBI guidelines, the non-CTS cheques are required to be withdrawn from the banking system and only CTS standard cheque should be used w.e.f:
a) 01.01.2013                b) 01.04.2013                c) 01.07.2013    d) 01.10.2013
d 01.10.2013
34.        As per CTS-2010 standards of RBI which of the following is correct (1) cheque paper should not glow under Ultra violet light (2) cheque should carry standardized bench mark with the words CTS-Indian Banking (3) Bank logo should be printed in Ultra violet ink.
            a) I to 3 all         b) 1 and 2 only   c) 1 and 3 only   d) 2 and 3 only
35.        As per CTS-2010 standards of RBI, which of the alterations in which of the following, in the cheque, is permitted by drawee only:
a) name of payee           b) amount of cheque       c) date of cheque for revalidation
d) all the above
36.        When a person other than the drawer, signs a cheque for the purpose of negotiation (i.e. further transfer), it is known as:
            a) alteration          b) conversion  c) negotiation     d) endorsement
37.        Which of the following statement is correct with reference to endorsement of a cheque (1) endorsement is required on a bearer and order cheque (2) endorsement is required on a cheque payable to order only (3) endorsement followed by delivery of a cheque by the same person changes the ownership rights from one person to another:
            a) 1 to 3 all           b) 1 and 2 only            c) 1 and 3 only               d) 2 and 3 only
38.        For payment of a cheque bearing an endorsement, the bank gets protection u/s____            of NI Act, provided, the endorsement is _______.           
a) Section 85 (1), genuine           b) Section 85 (1), regular                       
c) Section 85 (2), genuine           d) Section 85 (2), regular
39.        Which of the following type of endorsement does not match with its explanation:
a)  blank endorsement—only signatures of the endorser without any direction
b) full endorsement—direction above the signatures of the endorser
c) facultative endorsement— signatures of the endorser with direction reading 'pay to X without my liability'
d) restrictive endorsement— signatures of the endorser with direction reading 'pay to X only'
40.        In which of the following types of endorsement, the endorser withdraws his liability for dishonour of a cheque:
a) restrictive endorsement           b) sans recourse endorsement
c) facultative endorsement          d) restrictive endorsement
41.        In which of the following types of endorsement, the endorsers forgo their rights :
a) restrictive endorsement           b) sans recourse endorsement
c) facultative endorsement          d) restrictive endorsement
42.        A cheque issued by X in favour of Y has been presented by another bank in clearing for collection for the account of Z . It has been endorsed by Y in favour of Z. The bank has paid the cheque. Later on Y sends a notice to the paying bank that his signatures were forged by Z to endorse the cheque. He claims the amount from the bank.
a) bank has paid on the basis of forged endorsement. Hence bank is liable to pay the amount to Y
b) bank has paid the amount on the basis of a regular endorsement. Hence bank is not liable
c) forged endorsement is no endorsement. Paying bank has acted negligently. Hence liable to true owner.
d) bank is protected under section 89 of NI Act, for such payment.
43.        A bill of exchange has been drawn by X on Y which is payable to Z. Z has endorsed it in favour of B. Bill is dishonoured for non-payment by Y. B can recover this amount from:
            a) Y alone         b) X and Y only              c) X, Y and Z all             d) Y and Z only
44.        A bill of exchange has been drawn by X on Y which is payable to Z. Z has endorsed it in favour of B. Bill is dishonoured for non-acceptance by Y. B can recover this amount from:
a) Y alone         b) X and Y only              c) X, Y and Z all             d) X and Z only
45.        X issued a cheque in favour of Y, who endorsed it to Z in blank. Z delivered this cheque for consideration to B. Cheque is dishonoured. B can recover from
a) X, Y and Z all             b) Only X           c) Only Y          d) Y and X any
46.        X issued a cheque in favour of Y, who endorsed it to Z. Z endorsed this cheque for consideration to B. Cheque is dishonoured. B can recover from:
a) X, Y and Z all             b) Only X           c) Only Y          d) Y and X any
47.        X issued a cheque in favour of Y, who endorsed it to Z in blank. Z delivered this cheque for consideration to B. B delivered it to D by writing the words 'pay to D' above the signatures of Y. Cheque is dishonoured:
a) X, Y and Z any           b) X, Y, Z and B any       c) Only Y          d) Y and X any
48.          X issued a bearer cheque of Rs.500 in favour of Y. He endorsed it in favour of Z and Z endorsed in favour of B. Cheque is presented by M, a minor of 17 years and bank has made the payment. B claims the amount of cheque from Bank as he never endorsed the cheque in favour of M..
a) Bank has not made the payment in due course. Hence liable.
b) Bank should have made payment to M only if there was endorsement from B in his favour. Hence bank liable.
c) Bank should not make payment of cheque with so many endorsements. Hence bank is liable
d) Being a bearer cheque, it does not requirement endorsement. Payment by bank is in due course. Hence bank is not liable.
49.        Which of the following statement is correct with regard to crossing of a cheque (1) crossing means 2 parallel lines on any part on face of a cheque (2) crossing means only 2 transverse lines on face of a cheque (3) crossing is a direction of drawer to the drawee bank (4) crossing can be made by drawer or payee (holder) or by collecting bank.
            a) 1 to 4 all                              b) 1, 3 and 4 only           c) 2, 3 and 4 only
            d) 1 and 4 only
50.           In general crossing which of the following is important:
a) parallel lines across face of a cheque               b) words within parallel lines
c) name of a bank within parallel lines                  d) name of bank without parallel lines

answers

23.b     24.a     25.c     26.d     27.b     28.b     29.c     30.d

31.b     32.b     33.b     34.c     35.c     36.d     37.d     38.b     39.c     40.b

41.c     42.b     43.c     44.d     45.d     46.a     47.d     48.d     49.b     50.a




LATEST POLICY QNS --23 TO 50 Reviewed by sambasivan srinivasan on 9:51:00 PM Rating: 5

2 comments:

Linda Roverson said...

Nice post....great help..keep the good work going..
essay help

Jones Volkoba said...

Your work is very good and I appreciate your work and hopping for some more informative posts.
essay help

All Rights Reserved by Bank Exams © 2009
Technology PartnerNiralcube

Contact Form

Name

Email *

Message *

Powered by Blogger.