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- 16. The features of Demand Draft given, Locate the wrong option?
A.It is drawn by a bank upon its own branch or another bank.
B.Demand Draft valid for 3 months.
C.It is payable on demand and it cannot be made payable to bearer.
D.None
Answer & Explanation
Answer: Option D 
None
View Answer
- 17. A Demand Draft payable to bearer may be issued only by ____________
A.SBI
B.RBI
C.SEBI
D.Private Banks
Answer & Explanation
Answer: Option B
RBI
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- 18. Payment of a lost Demand Draft is made to the _______________
A.Purchaser
B.Friend of purchaser
C.Guarantor
D.RBI
Answer & Explanation
Answer: Option A
Purchaser
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- 19. If the Original Demand Draft is lost, the bank issues duplicate Demand Draft, by taking ___________ ?
A.Permission from RBI
B.Indemnity bond from the purchaser of Draft
C.Rs. 50 as simply penalty
D.Assurance form the purchaser of Draft on white paper
Answer & Explanation
Answer: Option B
Indemnity bond from the purchaser of Draft
View Answer
- 20. Unsigned Demand Draft is presented for payment, then drawee branch should ?
A.Pay simply as it is issued by another bank
B.Honor it after seeking complaint from the collecting bank.
C.Honor it as it is a negotiable instrument
D.Dishonor it, since it does not have a mandate of the drawer bank to pay.
Answer & Explanation
Answer: Option D
Dishonor it, since it does not have a mandate of the drawer bank to pay.
View Answer
To whom this Banking Awareness Expected Quiz Set 1 Questions and Answers section is beneficial?
Students can learn and improve on their skillset for using Verbal Ability effectively and can also prepare for competitive examinations like...
- All I.B.P.S and Public Sector Bank Competitive Exam
- Common Aptitude Test (CAT) Exams
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