0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
TOTAL QUESTION: 10
TOTAL TIME= 05 MIN
You have already completed the Test before. Hence you can not start it again.
Test is loading...
You must sign in or sign up to start the Test.
You have to finish following quiz, to start this Test:
Your results are here!! for" Bill of Exchange "
0 of 10 questions answered correctly
Your time:
Time has elapsed
Your Final Score is : 0
You have attempted : 0
Number of Correct Questions : 0 and scored 0
Number of Incorrect Questions : 0 and Negative marks 0
-
Not categorized
You have attempted: 0
Number of Correct Questions: 0 and scored 0
Number of Incorrect Questions: 0 and Negative marks 0
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
How does the drawee signify consent to pay a bill of exchange?
Correct
The drawee accepts the bill by signing it, indicating agreement to pay the specified amount.
Incorrect
The drawee accepts the bill by signing it, indicating agreement to pay the specified amount.
Unattempted
The drawee accepts the bill by signing it, indicating agreement to pay the specified amount.
Hint
0
-
Question 2 of 10
2. Question
When is a sight bill payable?
Correct
A sight bill is payable immediately upon presentation to the drawee.
Incorrect
A sight bill is payable immediately upon presentation to the drawee.
Unattempted
A sight bill is payable immediately upon presentation to the drawee.
Hint
0
-
Question 3 of 10
3. Question
What is a key feature of a term bill?
Correct
A term bill specifies a future date for payment, such as 30, 60, or 90 days after acceptance or issuance.
Incorrect
A term bill specifies a future date for payment, such as 30, 60, or 90 days after acceptance or issuance.
Unattempted
A term bill specifies a future date for payment, such as 30, 60, or 90 days after acceptance or issuance.
Hint
0
-
Question 4 of 10
4. Question
What distinguishes a documentary bill of exchange?
Correct
A documentary bill is accompanied by shipping or delivery documents and is widely used in international trade.
Incorrect
A documentary bill is accompanied by shipping or delivery documents and is widely used in international trade.
Unattempted
A documentary bill is accompanied by shipping or delivery documents and is widely used in international trade.
Hint
0
-
Question 5 of 10
5. Question
How can a seller obtain immediate cash from a bill of exchange before its due date?
Correct
A seller can discount the bill with a bank to receive immediate cash, improving liquidity.
Incorrect
A seller can discount the bill with a bank to receive immediate cash, improving liquidity.
Unattempted
A seller can discount the bill with a bank to receive immediate cash, improving liquidity.
Hint
0
-
Question 6 of 10
6. Question
Which law mentioned in the content governs the validity and enforceability of bills of exchange in India?
Correct
The Negotiable Instruments Act, 1881, governs bills of exchange and outlines the rights, obligations and remedies of the parties.
Incorrect
The Negotiable Instruments Act, 1881, governs bills of exchange and outlines the rights, obligations and remedies of the parties.
Unattempted
The Negotiable Instruments Act, 1881, governs bills of exchange and outlines the rights, obligations and remedies of the parties.
Hint
0
-
Question 7 of 10
7. Question
What is a bill of exchange?
Correct
A bill of exchange is a written document containing an unconditional order to pay a specified sum of money to a payee or bearer.
Incorrect
A bill of exchange is a written document containing an unconditional order to pay a specified sum of money to a payee or bearer.
Unattempted
A bill of exchange is a written document containing an unconditional order to pay a specified sum of money to a payee or bearer.
Hint
0
-
Question 8 of 10
8. Question
Who is generally the drawer of a bill of exchange?
Correct
The drawer is the person or business entity that issues the bill and is typically the seller or creditor.
Incorrect
The drawer is the person or business entity that issues the bill and is typically the seller or creditor.
Unattempted
The drawer is the person or business entity that issues the bill and is typically the seller or creditor.
Hint
0
-
Question 9 of 10
9. Question
Who is the drawee in a bill of exchange?
Correct
The drawee is the person or organization directed to make the payment and is usually the buyer or debtor.
Incorrect
The drawee is the person or organization directed to make the payment and is usually the buyer or debtor.
Unattempted
The drawee is the person or organization directed to make the payment and is usually the buyer or debtor.
Hint
0
-
Question 10 of 10
10. Question
What is meant by an unconditional order in a bill of exchange?
Correct
The order to pay must not depend on any conditions or contingencies.
Incorrect
The order to pay must not depend on any conditions or contingencies.
Unattempted
The order to pay must not depend on any conditions or contingencies.
Hint
0