11. Which of the following is an example of an inland bill of exchange?
a) Bill of Lading
b) Foreign Bill of Exchange
c) Banker’s Acceptance
d) Promissory Note
12. When can a cheque be crossed?
a) Only when requested by the payee
b) Only when the amount exceeds a certain limit
c) Only when the cheque is being presented to the bank
d) Anytime by the drawer or holder of the cheque
13. Which of the following endorsements restricts further negotiation of the instrument?
a) Blank endorsement
b) Restrictive endorsement
c) Special endorsement
d) Qualified endorsement
14. Which of the following is an example of a qualified endorsement?
a) “Pay to John Doe or bearer”
b) “Pay to John Doe only”
c) “Without recourse”
d) “Pay to John Doe, for value received”
15. What is the maximum maturity period of a promissory note?
a) 3 months
b) 6 months
c) 9 months
d) 12 months
