36. What is the maximum maturity period of a bill of exchange?
a) 3 months
b) 6 months
c) 9 months
d) No limit
37. Which of the following is the most common type of endorsement?
a) Blank endorsement
b) Restrictive endorsement
c) Special endorsement
d) Qualified endorsement
38. Which of the following is not a requirement for a promissory note to be valid?
a) Promise to pay
b) Signature of the maker
c) Name of the payee
d) Date of payment
39. What is the primary purpose of a demand draft?
a) To transfer funds from one bank account to another within the same bank
b) To withdraw cash from a bank account
c) To make a payment to a specific person or entity
d) To authorize a bank to release funds to a third party
40. Which of the following is an example of a blank endorsement?
a) “Pay to bearer”
b) “Pay to John Doe only”
c) “Without recourse”
d) “Pay to John Doe, for value received”
