Search Header Logo

PAYMENT-QUIZZ

Authored by Thien Nguyen

English

University

Used 3+ times

PAYMENT-QUIZZ
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is not a condition for drafts to be negotiable?

must contain a promise to pay a certain sum if goods are received

must contain an order to pay

must be made out to order or bearer

must be in writing, signed by the drawer

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

If a draft is made to bearer, payment should be made to ___

A bank

Drawer

Anyone who presents the draft

Acceptor

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

If a draft is accepted by a bank, it becomes a____

Valid draft

Banker’s acceptance

Demand draft

Drawee’s acceptance

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is not true of a letter of credit?

Issued by a bank

It is a document

Payable in the designated currency

At the request of the exporter

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

If a letter of credit can be neither cancelled nor modified without the consent of all parties, it is known as___

Revocable

Revolving

Irrevocable

Unconfirmed

6.

MULTIPLE CHOICE QUESTION

5 sec • 2 pts

Transfer a bill or cheque by signing it on the back called Endorse

True

False

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Bill of exchange that must be paid immediately it is presented:

Debit note

Sight draft

Bank tranfer

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?