Multiple Choice Quiz on Cheques

These are three types of cheques:

• order, closed and open

• open, bearer and crossed

• open, fixed and closed

• open, dishonoured and crossed

The two classifications of cheques are:

• post-dated and stale dated

• crossed and dishonoured

• certified and personal

• open and crossed

How many parties are there to a cheque?

• 1

• 2

• 3

• 4

A cheque is usually crossed in order to:

• prevent theft

• provide a means of tracing it

• supply a special endorsement

• allow a particular person to cash it

A stale cheque is one which is no longer valid after:

• 3 months

• 2 months

• 6 months

• 1 month

The drawer is:

• the bank on which the cheque is drawn

• the person who signs the cheque and orders payment

• the person to whom the cheque is payable

• the person who is ordered to pay the amount on the cheque

Assume that you went into the bank today to cash a cheque and you look at the date on the cheque and realize that it has the date 28/02/2023. That cheque is:

• post-dated

• wrong dated

• stale-dated

• accidentally dated

What is another name for a 'bounced' cheque?

• stopped cheque

• stale cheque

• cancelled cheque

• dishonoured cheque

Which of these is NOT a key element of a cheque?

• Reference Number

• Amount in figures

• Date

• Amount in words

Which of these is NOT a disadvantage of using cheques?

• You can pay large amounts of money at once

• Cheques take up to 3 days to clear

• Businesses may face a charge when processing cheques

• Cheque books must be available to use