Banking and Finance 3

M

Mr. Dubey • 51.17K Points
Coach

Q 21. There is legal obligation for a banker to collect the bills of exchange for its customer.

(A) True
(B) False
(C) none
(D) none
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M

Mr. Dubey • 51.17K Points
Coach

Q 22. Holder is an individual who has lawfully received possession of a Commercial Paper, such as a cheque and who is entitled for payment on such instrument.

(A) True
(B) False
(C) none
(D) none
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M

Mr. Dubey • 51.17K Points
Coach

Q 23. In case a collecting banker has realized the cheque, he should pay the interest to the customer as per his (customer’s) direction.

(A) True
(B) False
(C) none
(D) none
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M

Mr. Dubey • 51.17K Points
Coach

Q 24. The collecting banker is bound to show due care and carefulness in the collection of cheques presented to him.

(A) True
(B) False
(C) none
(D) none
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M

Mr. Dubey • 51.17K Points
Coach

Q 25. When the cheque is dishonored, the collecting banker is not bound to give notice of the same to his customer within a reasonable time.

(A) True
(B) False
(C) none
(D) none
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M

Mr. Dubey • 51.17K Points
Coach

Q 26. In case of wrongful dishonour of a cheque by the banker

(A) the holder can claim from drawee bank
(B) the holder can claim from collecting bank
(C) the remedy for holder is against drawer
(D) holder can claim from drawee bank, collecting bank, drawer
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M

Mr. Dubey • 51.17K Points
Coach

Q 27. The endorsement on the cheque is fictitious and the collecting banker failed to check it the cheque is paid by the paying banker

(A) collecting banker is not protected
(B) paying banker is protected
(C) collecting banker & paying banker are protected
(D) both are not protected
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M

Mr. Dubey • 51.17K Points
Coach

Q 28. To get protection under Sec 131 of NI Act collecting banker should collect the cheque

(A) crossed generally
(B) crossed specially
(C) 1 or 2
(D) crossed a/c payee
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M

Mr. Dubey • 51.17K Points
Coach

Q 29. A Collecting banker is given the statutory protection only when he acts as...

(A) A banker
(B) A holder for value
(C) A holder in due course
(D) An agent
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M

Mr. Dubey • 51.17K Points
Coach

Q 30. Collecting a cheque payable to the firm to the private account of a partner without enquiry constitutes.......

(A) gross negligence
(B) Negligence under remote grounds
(C) Negligence connected with immediate collection of a cheque
(D) Contributory Negligence
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