The Negotiable Instruments Act, 1881 Model Question Paper

12th Standard EM

    Reg.No. :
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Commerce

Time : 01:30:00 Hrs
Total Marks : 40
    7 x 1 = 7
  1. Negotiable Instrument Act was passed in the year _________

    (a)

    1981

    (b)

    1881

    (c)

    1994

    (d)

    1818

  2. Section 6 of Negotiable Instruments Act 1881 deals with

    (a)

    Promissory Note

    (b)

    Bills of exchange

    (c)

    Cheque

    (d)

    None of the above

  3. When crossing restrict further negotiation

    (a)

    Not negotiable crossing

    (b)

    General Crossing

    (c)

    A\c payee crossing

    (d)

    Special crossing

  4. A cheque will become stale after _______ months of its date:

    (a)

    3

    (b)

    4

    (c)

    5

    (d)

    1

  5. Document of title to the goods exclude

    (a)

    Lorry receipt

    (b)

    Railway receipt

    (c)

    Airway bill

    (d)

    Invoice

  6. The cheque is to be signed by the

    (a)

    drawee

    (b)

    banker

    (c)

    drawer

    (d)

    none of these

  7. The number of parties to a bill of exchange is

    (a)

    2

    (b)

    4

    (c)

    6

    (d)

    3

  8. 4 x 2 = 8
  9. What is meant by Negotiable Instrument?

  10. Define Bill of Exchange.

  11. List three characteristics of a Promissory Note.

  12. Define Endorsement

  13. 5 x 3 = 15
  14. Explain the nature of a Negotiable Instrument.

  15. Distinguish between Negotiability and Assignability.

  16. What are the characteristics of a bill of exchange?

  17. Discuss the two different types of crossing.

  18. What are the significance of special crossing?

  19. 2 x 5 = 10
  20. Distinguish a cheque and a bill of exchange.

  21. Explain the different kinds of endorsements.

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