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IBPS RRB Office Assistant Negotiable Instruments Act — practice questions

Explore 73 free Negotiable Instruments Act questions in IBPS RRB Office Assistant Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

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Negotiable Instruments Act questions and exercises with answers

Showing questions 1–30 of 73.

Public and bank holidays are declared under which section of the NI Act?Read the answer and worked solution →Dishonour of a cheque for insufficient funds is an offence under which section of the NI Act?Read the answer and worked solution →Match each party to a billRead the answer and worked solution →Bill of exchange or promissory note?Read the answer and worked solution →True or false: bills and notesRead the answer and worked solution →Fill in the days of graceRead the answer and worked solution →Which one is NOT required?Read the answer and worked solution →Key in the bill numberRead the answer and worked solution →A bank's cheque collection policy must cover how many aspects?Read the answer and worked solution →A demand draft is uniformly valid for a period of:Read the answer and worked solution →Demand drafts above a set value must carry which crossing?Read the answer and worked solution →May a bank refuse to issue a small draft against cash to a non-customer?Read the answer and worked solution →A cheque book is issued on a requisition slip that comes with the:Read the answer and worked solution →Can a bank insist a senior citizen appear in person for a cheque book?Read the answer and worked solution →Forcing depositors to accept courier delivery of cheque books is:Read the answer and worked solution →If a customer tenders a cheque at the counter, the branch must give:Read the answer and worked solution →The notice on a cheque drop box must appear in Hindi, English and the:Read the answer and worked solution →A cheque drawn in favour of a Karta may be collected in the account of a:Read the answer and worked solution →A dishonoured instrument must be returned to the customer within:Read the answer and worked solution →On returning a cheque, the paying bank must indicate the:Read the answer and worked solution →Which rules prescribe the signing of the objection slip?Read the answer and worked solution →The response to dishonour of a customer's cheques is left to the:Read the answer and worked solution →Dishonoured cheque data must go before the audit committee:Read the answer and worked solution →Dishonoured cheques drawn in favour of stock exchanges are reported:Read the answer and worked solution →For court proceedings on a dishonoured cheque, the bank must furnish:Read the answer and worked solution →Interest for delayed collection of bills is paid above the savings rate by:Read the answer and worked solution →Normal transit time for each stage of bill collection is:Read the answer and worked solution →Which code is needed for electronic clearing service transactions?Read the answer and worked solution →Which code is a prerequisite for NEFT and RTGS transactions?Read the answer and worked solution →Which is a survivorship clause on a joint deposit account?Read the answer and worked solution →

Worked practice questions

Public and bank holidays are declared under which section of the NI Act?

  1. Section 31
  2. Section 138
  3. Section 25
  4. Section 6
Show answer and solution

Correct answer: C. Section 25

1. The question asks: Public and bank holidays are declared under which section of the NI Act. 2. Correct answer: Section 25. 3. Section 25 of the NI Act deals with public holidays. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), NI Act §25_

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Dishonour of a cheque for insufficient funds is an offence under which section of the NI Act?

  1. Section 25
  2. Section 31
  3. Section 56
  4. Section 138
Show answer and solution

Correct answer: D. Section 138

1. The question asks: Dishonour of a cheque for insufficient funds is an offence under which section of the NI Act. 2. Correct answer: Section 138. 3. Section 138 of the NI Act penalises cheque bouncing. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), NI Act §138_

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Match each party to a bill

Read exercise and reference answers
Matching pairs
  1. Left
    Drawer
    Right
    The party which makes the order to pay
  2. Left
    Acceptor
    Right
    The party which accepts the order to pay
  3. Left
    Payee
    Right
    The party the amount has to be paid to
Instructions
Tap a party on the left, then tap the role it plays.
_Source: ICAI CA Foundation Accounting Ch6 Bills of Exchange, 1. BILLS OF EXCHANGE_

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