6. Which of the following is not a feature of a negotiable instrument?
a) Transferability
b) Creditor’s signature
c) Endorsement
d) Payment on demand
7. A cheque is payable on demand, which means it should be paid:
a) Immediately
b) Within 24 hours
c) Within one week
d) Within one month
8. The drawer of a cheque is the:
a) Person who receives the payment
b) Bank where the cheque is presented
c) Person who issues the cheque
d) Person in whose favor the cheque is drawn
9. A crossed cheque can only be:
a) Deposited in a bank account
b) Cashed at the bank counter
c) Transferred to another person
d) Used for online payments
10. Which of the following is not a valid endorsement?
a) Blank endorsement
b) Restrictive endorsement
c) Conditional endorsement
d) Qualified endorsement
