11. ________ means drawing two parallel lines on the face of the cheque with or without additional words like “& CO.” or “Account Payee” or “Not Negotiable”.

1. Order Cheque
2. Bearer cheques
3. Open cheques
4. Crossed cheque
5. Blank cheque

Option “4” is correct.
Crossing of cheque means drawing two parallel lines on the face of the cheque with or without additional words like “& CO.” or “Account Payee” or “Not Negotiable”.
12. Identify the correct statement regarding Mutilated cheques?

(i) It is a torn cheque.
(ii) Banks generally do not process torn cheque payments without the drawer’s confirmation
(iii) The written amount on the cheque will not be transferred to the payee until the specified date is met

1. Only (i)
2. Only (ii)
3. Only (i) & (ii)
4. Only (ii) & (iii)
5. All (i), (ii) & (iii)

Option “3” is correct.
Mutilated cheques
· A torn cheque is called a mutilated cheque.
· Banks generally do not process torn cheque payments without the drawer’s confirmation.
· If a cheque is not severely damaged and no vital information or facts are lost, the bank may process the cheque payment.
13. 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?

1. Stale Cheque
2. Mutilated Cheque
3. Self Cheque
4. Truncated Cheque
5. Order Cheque

Option “3” is correct.
Self cheques
· Self cheques are issued by the drawer himself.
· They are drawn only when the drawer wishes to withdraw an amount from his/her bank account.
· These types of cheques should be handled carefully as if they get misplaced or lost, some other person might encash the cheque by visiting the drawer’s bank.
14. Gift cheques are used to give a specific amount of money to the receiver in the form of a cheque rather than directly giving hard cash to the receiver. These cheques can be purchased how many times?

1. 6 times
2. 2 times
3. 5 times
4. 10 times
5. No limit

Option “5” is correct.
Gift cheques
· Gift cheques are used to give a specific amount of money to the receiver in the form of a cheque rather than directly giving hard cash to the receiver.
· These cheques are issued in a decorative form.
· There is no limit to the number of gift cheques that can be purchased.
15. Identify the type of cheque from the information provided below-
These cheques are those in which the drawer only signs the cheque and leaves the remaining columns blank. The drawee can add the amount on the cheque. These cheques demonstrate the parties’ level of trust.1. Blank cheque
2. Mutilated Cheque
3. Self Cheque
4. Truncated Cheque
5. Order Cheque

Option “1” is correct.
Blank cheque
· Blank cheques are those in which the drawer only signs the cheque and leaves the remaining columns blank.
· The drawee can add the amount on the cheque.
· These cheques demonstrate the parties’ level of trust.
16. Post-dated cheques are the ones that bear a later date than the date of the issue. The cheque remains valid for a period of _______ from the date it was written by the drawer-

1. 2 months
2. 3 months
3. 4 months
4. 5 months
5. 6 months

Option “2” is correct.
Post dated cheque
· Post-dated cheques are the ones that bear a later date than the date of the issue.
· The written amount on the cheque will not be transferred to the payee until the specified date is met.
· The cheque remains valid for a period of 3 months from the date it was written by the drawer.
17. Open cheque is made payable to the person presenting it to the drawee. It is also Known as-

1. Blank cheque
2. Crossed Cheque
3. Self Cheque
4. Truncated Cheque
5. Uncrossed Cheque

Option “5” is correct.
An uncrossed cheque or an open cheque is a cheque that has not been crossed with two parallel lines on the top left corner. Such cheques can be encashed at any bank. You can collect the money for the cheque from the bank counter. It can also be transferred to the bank account of the person who presented the cheque
18. A cheque which is truncated during the course of clearing cycle is called __________

1. Blank cheque
2. Mutilated Cheque
3. Self Cheque
4. Truncated Cheque
5. Order Cheque

Option “4” is correct.
According to the Negotiable Instruments Act a truncated cheque is a cheque “which is truncated during the course of a clearing cycle either by the clearing-house or by the bank whether paying or receiving payment immediately on production of an electronic image for the transmission, substituting the further material movement of the cheque in writing”.
19. Cheque Truncation is a system of cheque clearing and settlement between banks based on electronic data or images or both without material exchange of instrument. Cheque truncation is being presently used in many countries and is being introduced in India in –

1. 2005
2. 2006
3. 2007
4. 2008
5. 2009

Option “2” is correct.
Cheque truncation is being presently used in many countries and is being introduced in India in April 2006.
20. Identify the type of cheque from the given Information-
A cheque issued by a bank for a fee, containing a fixed amount. These cheques are enchased or used to make payment in a foreign country, after endorsement by the signature of the holder.1. Order Cheque
2. Disorder cheques
3. Open cheques
4. Crossed cheque
5. Traveller’s cheque

Option “5” is correct.
Traveler’s Cheque is a cheque issued by a bank for a fee, containing a fixed amount. These cheques are enchased or used to make payment in a foreign country, after endorsement by the signature of the holder.

 

Pages: 1 2

151 thoughts on “Cheques and Its Types”

  5. Code of destiny

    I am extremely inspired with your writing skills and also with the format for your blog. Is this a paid topic or did you modify it yourself? Either way keep up the nice high quality writing, it is uncommon to peer a great weblog like this one today!

  118. MarioWaive

    ¡Saludos, amantes de la diversión !
    casinosextranjero.es – acceso fГЎcil y rГЎpido – п»їhttps://casinosextranjero.es/ mejores casinos online extranjeros
    ¡Que vivas increíbles jackpots extraordinarios!

  119. Coreyemind

    Эта публикация погружает вас в мир увлекательных фактов и удивительных открытий. Мы расскажем о ключевых событиях, которые изменили ход истории, и приоткроем завесу над научными достижениями, которые вдохновили миллионы. Узнайте, чему может научить нас прошлое и как применить эти знания в будущем.
    Разобраться лучше – https://nakroklinikatest.ru/

  120. Coreyemind

    Этот увлекательный информационный материал подарит вам массу новых знаний и ярких эмоций. Мы собрали для вас интересные факты и сведения, которые обогатят ваш опыт. Откройте для себя увлекательный мир информации и насладитесь процессом изучения!
    Подробнее тут – https://nakroklinikatest.ru/

  123. Michaeldus

    ¡Bienvenidos, exploradores de la fortuna !
    Casino fuera de EspaГ±a con tragamonedas populares – п»їhttps://casinoporfuera.guru/ п»їcasino fuera de espaГ±a
    ¡Que disfrutes de maravillosas movidas brillantes !

  124. nabilaamacnair

    At 44mm in diameter this is no shrinking violet but would you really want link a Panerai that was With its affordable price tag and uncompromisingly classic design this would make an ideal first Panerai. But be careful once you dip your toes into Panerai’s azure waters you may find yourself amassing a small army of water-resistant luminous watches with only minor design differences.

  128. Jamesacipt

    ¡Hola, seguidores de la aventura !
    Mejores opciones en casinosextranjerosdeespana.es – п»їhttps://casinosextranjerosdeespana.es/ п»їcasinos online extranjeros
    ¡Que vivas increíbles giros exitosos !

  133. MichaelWep

    Hello champions of vitality !
    Air Purifier for Cigarette Smoke – Washable Filters – п»їhttps://bestairpurifierforcigarettesmoke.guru/ best purifier for smoke
    May you experience remarkable unmatched comfort !

  137. JamesOxype

    ¡Bienvenidos, aventureros del azar !
    Casinos sin registro y sin comisiones – п»їmejores-casinosespana.es casino online sin registro
    ¡Que experimentes maravillosas botes extraordinarios!

  141. HenryWossy

    ¡Saludos, aventureros de la fortuna !
    Casino sin licencia EspaГ±a con privacidad total – п»їemausong.es casinos sin licencia espaГ±a
    ¡Que disfrutes de increíbles victorias épicas !

  145. JosephMaido

    Greetings, fans of the absurd !
    Best adult jokes to go viral – п»їhttps://jokesforadults.guru/ joke for adults only
    May you enjoy incredible side-splitting jokes !

  146. hjewel2000

    Beyond this the dial opening feels a bit too small in comparison to the case size. If the bezel were slimmed down link to make room for a slightly larger dial it would’ve gone a long way toward making the midsize Overseas feel a bit larger. A relatively small dial can make a watch wear smaller than it actually is. This is also the consequence of removing the rehaut and seconds track from the 41mm design which gives the effect of a larger dial.

  149. Dereknut

    Hello guardians of flawless spaces !
    Using a pet hair air purifier while brushing your dog or cat minimizes airborne fur during grooming. A good air purifier for pets can trap fur and particles before they settle on bedding or toys. Keeping an air purifier for pets near crates or kennels maintains a fresher space for your animals.
    A good air purifier for pets is essential for maintaining a fresh and clean home. It eliminates fur and dander from the air, improving overall air quality. air purifier for dog hairSome models feature UV-C light for extra sterilization.
    Best Home Air Purifier for Pets That Handles Allergens and Odors – п»їhttps://www.youtube.com/watch?v=dPE254fvKgQ
    May you enjoy remarkable wellness-infused zones !

  150. ChrisHam

    Hello promoters of balanced living !
    Pet families should switch to the best air filters for pets to create a healthier environment year-round. Top rated air purifiers for pets feature washable pre-filters that extend the lifespan of main HEPA components. If your goal is better air and less sneezing, the best air purifier for pet allergies is your best friend.
    Air purifier for pets is a simple solution to a complex problem like invisible allergens. Once installed, it works 24/7 to improve your environment best air purifier for petsYou’ll notice less sneezing, coughing, and irritation almost instantly.
    п»їBest Air Purifier for Pets to Keep Your Home Fresh and Clean – п»їhttps://www.youtube.com/watch?v=dPE254fvKgQ
    May you enjoy remarkable uplifting moments !

  151. RichardJab

    ¿Hola visitantes del casino ?
    Algunas casas incluso permiten crear tus propias apuestas y compartirlas con la comunidad global.casas de apuestas fuera de espaГ±aEsto promueve un enfoque mГЎs social y colaborativo.
    Casas de apuestas fuera de España integran “modo zen” para jugar sin notificaciones, luces ni sonidos. Es ideal para quienes buscan concentración plena. Y ayuda a reducir la fatiga digital.
    Casasdeapuestasfueradeespana: tutorial completo para apostar – п»їhttps://casasdeapuestasfueradeespana.guru/
    ¡Que disfrutes de enormes movimientos !

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top