CHAPTER 5

Multiple Choice

A cheque is generally valid for ____ after the date of issue

• 8 months

• 6 months

• 7 months

• 3 months

Multiple Choice

The maker is the party who drawn the cheque.

• TRUE

• FALSE

Multiple Choice

There are three parties involved in issuing a cheque.

• TRUE

• FALSE

Multiple Choice

Which of the followings are NOT TRUE?

• The maker is the issuer of cheque

• The drawer is the parties who drown the cheque

• The payee is to whom cheque is payable

• The lender who received the cheque

Multiple Choice

A cheque must be written with an ink.

• TRUE

• FALSE

Multiple Choice

Which one is NOT TRUE?

• It is always payable on demand

• It must contain an order to pay certain sum of money

• A Cheque is payable to a Specified Person Only

• Payee must be certain to whom payment is made

• It must contains any conditions

Multiple Choice

Bearer Cheque is the one payable to the bearer, i.e. holder who carries and presents the cheque at the bank counter gets the payment.

• TRUE

• FALSE

Multiple Choice

Which statement is TRUE regarding ORDER CHEQUE?

• is receivable to the person specified therein as the payee, or to any one else to whom it is endorsed (transferred)

• is payable to anyone, or to whom it is endorsed (transferred)

• is payable to the person specified therein as the payee, or to any one else to whom it is endorsed (transferred)

• is payable to the person specified therein as the receiver, or to any one else to whom it is verified

Multiple Choice

A crossed cheque is known as an open cheque.

• TRUE

• FALSE

Multiple Choice

WHICH OF THESE ARE OPEN CHEQUE?

• BEARER CHEQUE &

  CROSSED CHEQUE

• BEARER CHEQUE &

  FOREIGN CHEQUE

• ORDER CHEQUE &

  STALE CHEQUE

• BEARER CHEQUE &

  ORDER CHEQUE

Multiple Choice

Crossing a cheque means drawing two parallel lines across the face of the cheque.

• TRUE

• FALSE

Multiple Choice

What is the type of cheque when a drawer mentions the date earlier than the date presented to the bank?

• Frozen cheque

• Clearance cheque

• Anti-dated cheque

• Post-dated cheque

Multiple Choice

Which of the followings are types of cheques?

i. Order cheque

ii. Anti-dated cheque

iii. Post-dated cheque

iv. Semi-bearer cheque

• i, ii, and iii

• i, iii and iv

• ii, iii and iv

• i, ii, iii and iv

Multiple Choice

Which of the following cheques can be dishonoured?

• Stale cheque

• Open cheque

• Bearer cheque

• Crossed cheque

Multiple Choice

A Cheque dated 13^th August 2018 and presented to bank for clearance on 28^th August 2018.

• Ante-dated Cheque

• Post-dated Cheque

• Stale Cheque

Multiple Choice

A Cheque dated 23^th August 2018 and presented to bank for clearance on 9^th August 2018.

• Ante-dated Cheque

• Post-dated Cheque

• Stale Cheque

Multiple Choice

A Cheque dated 13^th August 2018 and presented to bank for clearance on 25^th August 2019.

• Ante-dated Cheque

• Post-dated Cheque

• Stale Cheque

Multiple Choice

When a cheque is torn into two or more pieces and presented for payment, such a cheque is called a mutilated cheque

• TRUE

• FALSE

Match

Match the following

• Collecting BANKERS

• PAYING BANKERS

• Duty of PAYING BANKERS

• Duty of COLLECTING BANKERS

The banker to whom a holder of a cheque presents the cheque for the credit of his account

Where a customer draws a cheque on his banker

to pay to the right person according to his customer’s mandate.

Using reasonable care and diligence in presenting and securing payment

• The banker to whom a holder of a cheque presents the cheque for the credit of his account

• Where a customer draws a cheque on his banker

• to pay to the right person according to his customer’s mandate.

• Using reasonable care and diligence in presenting and securing payment

Multiple Choice

Crossing a cheque means drawing two parallel lines across the face of the cheque.

• TRUE

• FALSE

Multiple Choice

Which of the followings are types of crossing a cheque?

i. Zebra crossing

ii. Genaral crossing

iii. Restrictive crossing

iv. Post-dated crossing

• i and ii

• i and iii

• ii and iii

• iii and iv

Multiple Choice

Generally crossing cheques are more safe than special/restrictive crossing

• TRUE

• FALSE

Multiple Choice

Which of the following is FALSE about reasons of dishonoured cheque?

• Alteration

• Insufficient funds

• Regular signature

• Post-dated cheque

Multiple Choice

What will be the bank's action to the cheque issued if the government or a court orders a person's account to be frozen?

• Payment of the cheque

• Transfering the cheque

• Settlement of the cheque

• Dishonoured of the cheque

Multiple Choice

Which of the followings are the alteration of a cheque?

i. Date

ii. Bank

iii. Amount

iv. Payee name

• i, ii and iii

• i, iii, and iv

• ii, iii and iv

• i, ii, iii and iv

Multiple Choice

Which of the followings are the categories of cheques.

i. Local cheques

ii. House cheques

iii. Oversea cheques

iv. Outstation cheques

• i, ii and iii

• i, ii and iv

• ii, iii and iv

• i, ii, iii and iv

Match

Match the following

• House Cheques

• Outstation Cheques

• Foreign Cheques

• Local Cheques

Cheques belonging to the drawee bank of the same branch

Cheques drawn on banks outside the local clearing zone

Cheques drawn on banks outside country

Cheques drawn and deposited within the local clearing zone

• Cheques belonging to the drawee bank of the same branch

• Cheques drawn on banks outside the local clearing zone

• Cheques drawn on banks outside country

• Cheques drawn and deposited within the local clearing zone

Multiple Choice

Which cheques need to go through the clearing process?

i. House Cheques

ii. Local Cheques

iii. Outstation Cheques

iv. Foreign Cheques

• i and ii

• ii and iii

• iii and iv

• i and iv

Multiple Choice

The National Electronic Cheque Information Clearing System is referred to as eSPICK.

• TRUE

• FALSE

Multiple Choice

Which of the followings are TRUE about e-SPICK?

i. Implementation nationwide in July 2010.

ii. Transfer large value of funds between banks.

iii. Customer will benefit from speed and efficiency.

iv. migrated cheque processing into a fully image-based cheque

• i and ii

• i and iii

• ii and iii

• iii and iv

Multiple Select

What are two types of transactions handled by RENTAS?

• Interbank Funds Transfer System (IFTS)

• Scripless Securities Transfer System (SSTS)

• Intersystem Funds Transfer System (IFTS)

• Scripless Sharing Transfer System (SSTS)

Multiple Choice

Which of the followings are NOT the use of Real Time Electronics Transfer of Funds and Securities

(RENTAS).

i. Bank deposit cash.

ii. Settle money market transactions.

iii. Transfer small value of funds between banks.

iv. Settle the ringgit part of large foreign currency transactions.

• i and ii

• i and iii

• i and iv

• iii and iv