BD EXERCISE 1
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University
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Hard
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In relation to a bill of exchange, which of the following statements is INCORRECT?
A bill must be duly presented for payment or else the drawer and endorsers shall be discharged.
A bill is negotiated when it is transferred from one person to another to constitute the transferee the holder of the bill.
The drawee is the person to whom the bill is addressed to.
Negotiation is the signification by the drawee of his assent to the order of the drawer.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following is absolutely essential for a special crossing, namely:
two parallel transverse lines.
name of a banker.
words "And Company”.
words "Not Negotiable".
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT the essential features of a cheque?
It must be in writing.
It must be signed by the drawer.
It must have date of issue.
The amount must be a certain amount.
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A cheque may be payable on a determinable future time.
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Order bills are negotiated by delivery.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The commercial banks in Malaysia are given licence of operation by the:
Government of Malaysia.
Minister of Finance.
Central Bank of Malaysia.
Securities Commission of Malaysia.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following are the functions of the Central Bank of Malaysia, EXCEPT:
clearing and collection of cheques.
management of the national debt.
issuing coin and currency.
lender of last resort.
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