A bill holder wishing to dispose of his bills before maturity would be paid?
A. the discount value of the bill B. the present value of the bill C. the premium on the bills only D. the accumulated interest on the bills E. total face value of the bills with the premium Correct Answer: Option A – the discount value of the...Which of the following is not a means of effecting payment through current account?
A. Cheques B. Standing orders C. Giro system D. Credit transfer E. Credit card Correct Answer: Option C – Giro system
Which of the following is not a means of money?
A. Divisibility B. Portability C. Accessibility D. Recognizability E. Durability Correct Answer: Option C – Accessibility
Through which of the following does the central Bank carrying out the monetary policy of the country?
A. Discounting bills B. Banks rate C. Granting overdrafts D. Acting as lender of last resort E. Acting as banker to commercial banks Correct Answer: Option B – Banks rate
When a cheque has special crossing it should be?
A. cashed by the drawer B. cashed over counter C. Paid into a named bank D. paid to the drawee E. paid into Central Bank Correct Answer: Option C – Paid into a named bankProducts
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