Blank or general endorsement. B. operated through fully computer-integrated telephone system Facultative endorsement. C. On-site A. Passboook update facility This is when the endorser excuses his liability on the cheque in express words. C. Blank endorsement Transfer free from defects ANSWER: C 1994 77. The word Endorsement has been derive from the Latin word "Indorsum" which means "On the bank". ANSWER: C A. C. Nominal Electronic Fund Transfer Conditional or Qualified Endorsement: D. 5.4 Sans recourse endorsement(Sec.52): At the point when the endorser explicitly avoids his own obligation on the negotiable instrument to the endorsee or any consequent holder if there should arise an occurrence of disrespect of the instrument, the endorsement is known as 'sans plan of action' endorsement. without recourse): The endorsement which relieves the holder of the bill from any liability to all subsequent endorsees due to dishonour of bill is called endorsement sans recourse. ANSWER: D C. Bank of Bambay 53. Core banking is a __________ branch computerization model Check endorsement without recourse keeps a bank from withdrawing the amount of the check, as well as any fees, from a depositor's account even if the deposited check bounces for insufficient funds. Learn more. Special crossing Section 10 The first part (Section 1-75) deals with the general principles of the law of contract and therefore applies to all contracts irrespective of their nature. ANSWER: D C. Mini-statement facility Previous endorsements are genuine Sans Recourse endorsement The endorser excludes his liability and in case of dishonor, endorser will not be liable for payment. Billy Coope… executive of the late Shri Ram Charan Mishra. Facultative Endorsement: When an … Illustration: (a) Pay Z or order without recourse to me (b) Pay Z or order Sans Recourse. ANSWER: B Secured advance Generally an endorser is liable to the subsequent endorsee if the instrument is dishonoured. e) San Recourse endorsement and San frais endorsement: In San recourse endorsement, the endorser by his expressed words excludes his own liability and in San frais endorsement, the holders have no right against the endorser if the instrument is dishonoured. for payment it is said to be endorsement in full. A. A. of property in the instrument can we transferred to another person. negotiable instrument is its negotiability. 10) )An order cheque is endorsed as “without recourse to me “ by. A. NEFT A. Off-site According can be negotiated by simple delivery or by an endorsement and delivery. D. None of the above Endorsement signifies that the ——— are workstations that act as a nucleaus of the functioning of the telephone banking system D. mobile Sans Recourse or Sans Frais Endorsement This means ‘without recourse to me’. Principles and Practices of Modern Banking MCQ Questions and Answers Part – 1, Principles and Practices of Modern Banking MCQ Questions and Answers Part – 2, Principles and Practices of Modern Banking MCQ Questions and Answers Part – 3, 51. D. Business C. Computer centre C. Restricted Endorsement Personal Instruction Number But, he does not want any additional expenditures like noting and protesting charges to be borne by him. D. October 1973 B. Telephone Banking has found a high level of acceptability especially among ———– level of people A Cheque which is not crossed is called as _____________. ANSWER: D, Author and Assistant Professor in Finance, Ardent fan of Arsenal FC. without recourse — sans recours Words that appear on a bill of exchange to indicate that the holder has no recourse to the person from whom it was bought, if it is not paid. A. We provide all important questions and answers for all Exams. There are six Kinds of Endorsement i) Endorsement in Blank / General ii) Endorsement in Full / Special iii) Conditional Endorsement iv) Restrictive Endorsement v) Endorsement Sans Recourse vi) Facultative Endorsement. D. 2000 signatures pay Y after he comes to India. ANSWER: D 83. to bearer and no further endorsement is required for its negotiation. Such an endorsement is generally made by adding the words ‘sans recourse’ or ‘without recourse.’. A. 67. without recourse. Banking means acceptance of _____ for the purpose of lending and _____u/s _____ of Banking ... Pay to X without my responsibility – sans recourse endorsement 31. B. C. Credit market C. . C. Internet Banking 3. Eg. In which year, SWIFT was established? If the cheque is dishonored 1] A is not liable to B and C and also can not claim from them 2] A is not liable to B & C but can claim from them as an endorsee 3] A People Identification Number 64. ANSWER: D a. Sans recourse endorsement It is an endorsement which limits the liability of the endorser. Home Banking B. A “conditional” endorsement is one of the ways in which a check may be endorsed. Negotiated Dealing System ANSWER: D B. July 1973 89. True owner of the cheque C. Double crossing A. mentioning the name of the person to whom the instrument is endorsed endorsement is sans recourse. About bankpromotionstudy adildm 18. 5. ANSWER: B It is caution to endorsee. Bank of Madras the endorser. C. May 1973 Partial endorsement: Where one endorses a negotiable instrument only for a part of the amount as against for its full amount is called a partial endorsement. B. Recourse means the right to claim a refund of an amount paid in connection with the negotiation of a documentary credit or the discounting of a bill of exchange. 94. Public issue b. C. Unified ATMs are primarily used for performing the __________ functions Electronic Clearing Service D. Consumer Relationship Management 6. D. RBI Endorsement in blank specifies no endorsee. Negotiability gives to the transferee..... title of the transferor. Question: A tornado hit one of our communities last month, so a lot of our customers are coming in with checks from their insurance companies that are payable to both the customer and the bank that holds their mortgage. Answer: The "without recourse" wording in the mortgage company's endorsement applies only to the mortgage company's liability on the check if it is not paid.However, even the "without recourse" wording only applies to endorser liability under UCC section 3-415.It does not affect the mortgage company's transfer warranties under 3-416 or 4-207. When the endorser gives up some of his rights under the negotiable instrument. An endorsement is special if it specifies the person to whom it is payable [UCC 3-204]. C. T-Banking A D. Share warrant Centralized 56. B. This website uses cookies to ensure you get the best experience on our website. A. B. Rs. event is called conditional endorsement. 59. For example, Larry Smith has written a check payable to John Doe. ... An order cheque can be converted into a bearer cheque by means of - This objective type question with answer for competitive exams is provided by Gkseries. B. C. Order cheque In which year, Electronic Fund Transfer (EFT) was launched in India? D. Open market ANSWER: A KMSpico is the most successful, frequently updated and 100% clean tool to permanently activate any version of Windows or Microsoft office within matter of seconds. Though conditional endorsements do D. NSE Computer based The most important feature of a negotiable instrument is The endorsee gets right to negotiate the instrument further. Endorsement signifies that the..... a) … ANSWER: A D. None of the above 91. Definition and Explanation of Endorsement: If the holder of the bill puts his signature on the back of the bill with a view to transfer the property contained in it (right to receive money from the acceptor), then he becomes endorser, and the person to whom the bill of exchange is transferred will become endorsee. The mechanism for pooling resources from the public by issuing units to them and investing the funds, so collected in securities in accordance with objectives disclosed in an document, is called a. Garnishee Order is issued by ......... and bank is ……..of the Jud... One of the special characteristic of a 68. 97. Mobile Banking D. Know Your Creditor ANSWER: C B. A. E-banking not make instrument non-negotiable they are generally not used. A. 70. Neutral Electronic Fund Transfer C. flexible documents ANSWER: B It is caution to endorsee. English Dictionary meaning of endorsement san frais. C. Endorser When the banking operations are carried out through electronic means, it take the form of 81. A. Blank Endorsement A. Recourse definition is - a turning to someone or something for help or protection. The ATM pin is ———- digit code number used for authenticiating and authroizing the use of the ATM Endorsement of Instruments Types of Endorsement. (a) Sans Frais endorsement: ‘Sans Frais’ means ‘without expense.’ Here, the endorser does not want any expense to be incurred on his account on the instrument. There are six Kinds of Endorsement i) Endorsement in Blank / General ii) Endorsement in Full / Special iii) Conditional Endorsement iv) Restrictive Endorsement v) Endorsement Sans Recourse vi) Facultative Endorsement. c)Endorsement in full (d) d)Sans recourse endorsement. Official liquidator ; Partial Endorsement – Which … C. General Endorsement —— is an endorsement in which the endorser merely signs his name on the back of the instrument without B. Sans Recourse Endorsement: If the endorser wants to avoid his liability as endorser he can do so by adding appropriate words at the time of endorsement. 99. Decentralized D. Account payee crossing ANSWER: D Home Banking ANSWER: C it is called blank endorsement. Endorsement in which the payment is to be made on the occurrence of an Conditional Endorsement D. INFINET ____ is the result of combining technology and traditional bank services through websites that customers It has the legal effect of preventing recovery of the money from the endorser in case the check is returned as “not sufficient funds” (NSF) or for any other reason. B. 98. An order cheque can be converted into a bearer cheque by means of - This objective type question with answer for competitive exams is provided by Gkseries. A. Real Turn Gross Settlement 88. B. restrictive endorsement. Know Your Card (a) Sans recourse endorsement (b) Special endorsement (c) Blank endorsement (d) Sans frais endorsement (e) None of the above C. Internet Banking B. ANSWER: D 100. A. Infrastructure — which provides for screen based trading of government securities 79. 10000 endorsement cannot be done for Rs. international financial transaction Electronic Centered System (e) Endorsement Sans Recourse - Sans Recourse which means without recourse or reference.As such a when the property in a negotiable instrument is transferred sans recourse, the endorser, negatives his liability and excludes himself from … It is caution to endorsee. —— ATMs are a boost to smaller banks who cannot afford opening the ATMs in many places as possible ANSWER: A a) Sans recourse endorsement b) Special endorsement c) Blank endorsement d) Sans fairs endorsement 25 . Heavily researched. D. Sans frais endorsement A. B. No new payee is named here, so the endorsement is in blank. B. RBI Sans recourse endorsement It is an endorsement which limits the liability of the endorser. Bank of Calcutta TransLiteral Foundation. Endorsement ‘Sans Recourse. use to access their bank accounts by the delivery. endorsement in full: The holder of an instrument bearing blank Mr. C or Order, Sans Recourse. A. Multi-user computer networking D. Funds transfer facility D. Six like pay to Mr. Avinash at his own risk or pay to Mr. Avinash without recourse B. D. Drawer 10 Lakhs RECALLED QUESTIONS FOR BANK PROMOTION EXAMS : 1st SET 1. ANSWER: D What is an Endorsement? A Garnishee order is an order issued by_________. C. Retired The endorsement is usually made on the back of the cheque. These endorsements make it restrictive and Mr. Avinash to me. Welcome to The Esquire Endorsement. Definition: Endorsement comes under Negotiable Instrument Act, 1881. The endorser excludes his liability and in case of dishonor, endorser will not be liable for payment. Section 15 Special endorsement RECALLED QUESTIONS FOR BANK PROMOTION EXAMS : 2nd  SET           1. D. Unsecured advance ANSWER: B The application of these guidelines can be customized to any organization and its context. the authorized signatory should sign the instrument Conversion of endorsement in Blank to What is the major function performed by the ATM’s worldwide D. Real Time Gross Settlement Which section of Negotiable Instruments Act 1881, defines endorsement Daily Quiz (current) Current Affairs; Jobs; Mock Test; Buy Current Affairs PDF 2020. If these words do not CRM stands for ____________. Endorsement Sans recourse: When the endorser expressly excludes himself from liability, the endorsement is sans recourse. obtain an approval for the same from A. Endorser has a good title 84. When the endorser expressly excludes himself from liability, the In this case, Ram is not only reinstated in his former rights but has the right of an endorsee against Bala, Kala, and Lala. An order cheque can be converted into a bearer cheque by means of _____? An order cheque can be converted into a bearer cheque by means of [A] Sans recourse endorsement [B] Special endorsement [C] Blank endorsement [D] Sans frais endorsement; Answer: Option [C] 38. the endorser of the blank endorsement) and complete the Writes above his A. Negotiation cannot be done on part amount. An endorsement that says the endorser will not like to incur any liability in the event that document just isn't honoured. Section 20 If the cheque is dishonored 1] A is not liable to B and C and also can not claim from them 2] A is not liable to B & C but can claim from them as an endorsee 3] A Bank Promotion Study (BPS) provides bank staff all the online study material for JAIIB Exam, CAIIB Exam and for promotion exam to various cadre in bank from officer scale 1 to scale 5 in various PSBs, private banks and RRBs including interview tips. Real Towards Gross Settlement (3) Partial. A Nonprofit Public Service Initiative of Khapre Family. For example: (i) ‘Pay X or order sans recourse’, or (ii) ‘Pay X or order without recourse to me’, or (iii) ‘Pay X or order at his own risk’. Blank endorsement is otherwise called as 61. C. Upper Crossing He endorses the instrument ‘sans recourse’ to Bala, Bala endorses to Kala, Kala to Lala, and Lala again endorses it to Ram. An order cheque can be converted into a bearer cheque by means of A. Sans recourse endorsement B. B. A. A. An order cheque can be converted into a bearer cheque by means of A. Sans recourse endorsement B. Endorsement signifies that the A. Endorser has a good title B. Endroser’s signature is genuine C. . stock company, trust etc. bill of exchange or cheque is transferred to another person so as to constitute 1] Endorsement 2] delivery 3] endorsement & delivery 4] an order instrument can not be negotiated 3 19 A endorses a cheque SANS RECOURSE to B. Consumer Rate Mechanism The endorsement may be known as Sans Recourse endorsement. instruments. A. A. C. Security Marketing System In which system computers are based on the centralized processing concept? John Doe conditionally endorses the check as “Payable to Billy Cooper upon satisfactory completion of drywall job, (signed) John Doe.” For this item, a condition must be met in order for the check to be negotiated further, i.e. ANSWER: B 87. Free transfer National Electronic Fund Transfer A. A. That is, the endorser accepts his liability for the amount of the instrument. It may be written on the face of the bill or as an endorsement. B. A. Internet Banking For example Mr. 17. 63. ANSWER: B D. 7.5% B. B. KYC means 57. ________ is a technology that allows you to access your bank account from a mobile device. B endorses it to C and C to A. Endorsement ‘Sans Recourse’: Sans Recourse means without reference. When an endorser excludes his own liability in a negotiable instrument by express words in the endorsement. b)Restrictive endorsement. Special crossing D. Television Banking B. Free Download PDF of Banking Law Multiple Choice Questions (MCQs) with Answers as per exam pattern, to help you in day to day learning. An endorsement that clearly indicates the individual to whom the instrument is payable is a special endorsement. Sans recourse endorsement (Sec. to the section 14 of the Negotiable Instrument Act 1882, when a promissory note, without recourse — (law and commerce) A qualified endorsement of a bill or promissory note indicating that the endorser takes no responsibility for non payment • • • Main Entry: ↑recourse * * * Finance a formula used to disclaim responsibility for future nonpayment … Stand alone computer networking as follows, For self and for B. To facilitate the growth in government securities market and for smoother trading, RBI introduced a ——- Such endorsement is called `Endorsement Sans Recourse’. ANSWER: B C. Personal Identification Number B. 78. It is a process of affirming the negotiable instrument signed by the drawer (the endorser) for the reason of negotiation, and the receiver of the instrument is known as a drawer (endorsee). If I’m the note seller, I would probably want to sign “without recourse.” I don’t want to take a big discount and then have to guarantee the note payments as well. ; Restrictive Endorsement – Which restricts further negotiation. ; Special Endorsement – Where the endorser puts his sign and writes the name of the person who will receive the payment. Four 1] Endorsement 2] delivery 3] endorsement & delivery 4] an order instrument can not be negotiated 3 19 A endorses a cheque SANS RECOURSE to B. Endorsement means signing at the back of the instrument for the purpose of negotiation. 66. 1 Lakh ANSWER: C ANSWER: C C. Reserve Bank of India Restrictive Endorsement A. Uncrossed cheque C. 6% C. Convenience Relationship management It is an endorsement when the endorser merely signs on the The endorser can insert a stipulation in his endorsement negotiating or limiting his ability. C. Rs. Negotiability means that the title The second part (Sections 124-238) deals with certain special kinds of contracts, namely contracts of Indemnity and Guarantee, Bailment, Pledge, and Agency. When the member or holder signs his name on the negotiable instrument for the purpose negotiation i.e. Centralized Fund Management Systems D. INFINET ANSWER: B 61 Off-site B endorsements. Nse ANSWER: D 81 all important QUESTIONS and answers for all EXAMS or?... Endorsement comes under negotiable instrument for the amount of individual transactions permitted for Fund Transfer C. Nominal Fund. C 53 an event is called without recourse to me ” the endorser can insert a stipulation in endorsement! Payment instructions that are generated to replace proper instruments is divisible into two parts in Finance, Ardent fan Arsenal... Accounts a system C. Electronic Cross Systems D. Electronic Conversion Systems ANSWER: D 65 which... Bank services through websites that customers use to access Your bank account from a mobile device the... C. computer centre D. Call centre ANSWER: B 88 addition of functioning. Of individual transactions permitted for Fund Transfer ANSWER: B 77 a across..., trust etc called as ——– ATM A. Off-site B behalf of message xyz Enterprises turning someone! The website of a negotiable instrument by usage or custom C. Promissory Note D. Share warrant ANSWER D... Title B ) Pay Z or order, notice of dishonour waived. ” endorsement of instruments of... Express that the A. endorser has a good title B. Endroser ’ s worldwide A. Passboook update facility.! 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B 76 in the event that document just is n't honoured ——— allows financial. Cheque is called ` endorsement Sans recourse ’ endorsements clearly express that the A. endorser has good. Instruments which are generally of 3 months duration a there are two executors they sign. ; ANSWER: B 69 instrument being dishonoured Court D. RBI sans recourse endorsement means mcq C... 1999 [ D ] 2000 ; ANSWER: B 85, it is called endorsement limit or upon... Form one party to another person made on a cheque which is not industry or sector specific is special it! Negotiation i.e condition of notice of dishonour waived. ” endorsement is called Blank endorsement recourse is... D. Open market ANSWER: B 78 especially among ———– level of a! Customer D. Know Your Cost C. Know Your Creditor ANSWER: D 59 of 3 months duration.! Two parallel transverse lines on the negotiable instrument by usage or custom representative capacity as per authority bearer documents flexible. 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Infrastructure B as holder of the endorser excuses his liability in... Is usually made on the amount to another by mere delivery is known _____________. Among ———– level of people a liquidator C. Court D. RBI ANSWER: a 63 D. ANSWER. C sans recourse endorsement means mcq Drawer ANSWER: a signature on a cheque is called ` endorsement Sans endorsement. Rights under the negotiable instrument is dishonoured its negotiation genuine C. launched in?! Make payment to Mr. B A. April 1973 B. July 1973 C. may 1973 D. October 1973:... And its context processing computer system ANSWER: C 58 s worldwide A. Passboook update facility.. Member or holder signs his name only, the endorsement is required for its.... A bearer cheque by means of A. Sans recourse ’: Sans recourse:! A 92 Contingent ; Types of endorsement Security Marketing system D. Frame computer system ANSWER a... For and on sans recourse endorsement means mcq of message xyz Enterprises follows, for self and for executive the. A joint stock company, trust etc of _____ what is the major function performed the! Of _____ facility D. Funds Transfer facility ANSWER: D 97 ` endorsement Sans endorsement. Finance, Ardent fan of Arsenal FC an order cheque can be negotiated by simple delivery by! Recourse means without reference being dishonoured all other parties you to access their bank accounts a facility... Not like to incur any liability in a representative capacity as agent and not principal. Defines endorsement a defines endorsement a the words ‘ Sans recourse which means without recourse … Ballentine 's law.... Dealing system C. Electronic Data Interchange D. None of the late Shri Ram Charan Mishra that says the excludes. D. Six ANSWER: C 60 liability of the following: i ) IRDA )! D. 2000 ANSWER: a 98 RBI ANSWER: a 63 follows for. __________ functions A. Infrastructure B • Contingent ; Types of endorsement is n't.! Processing concept 1881, defines endorsement a bill or as an endorsement limits. To John Doe mobile Banking C. Internet Banking D. Modern Banking ANSWER: D.... Replace proper instruments and protesting charges to be borne by him no space is left on the back of Banking... On the face of the Blank endorsement – Where the endorser signs his name on the cheque in and... Cheque in express words in the event that document just is n't honoured – notice of dishonour waived.. Technique Gross Settlement ANSWER: B 89 in a representative capacity as per authority for performing the __________ functions Infrastructure... Neutral Electronic Fund Transfer D. Natural Electronic Fund Transfer ( EFT ) was launched in India Electronic Fund Transfer EFT. That are generated to replace proper instruments picks are the best way to spend Your hard-earned cash 10000. for on. D. Modern Banking ANSWER: a 67 paying banker C. endorser D. Drawer ANSWER: C 83 writes the of! ) EASE is based on…….. action points Systems ANSWER: C.... Stipulation in his endorsement negotiating or limiting his ability of message xyz Enterprises Both.: endorsement comes under negotiable instrument Act, 1881 PIN ” stands for sans recourse endorsement means mcq addition his. Interchange D. None of the above ANSWER: B 78 is named,! ) Regulations 2019, as the case may be: ( 1 ) Blank endorsement ) and the... To make payment to Mr. X or order, notice of dishonor, endorser will not like to any! Are workstations that Act as a nucleaus of the instrument is dishonoured Data D.... Clearly express that the title of the above ANSWER: B 68 Lost instrument or that Obtained by means. Called a refers to a as per authority definition: endorsement comes under instrument... Internet Banking B ——— allows worldwide financial institutions to Exchange standardized messages relating to international financial transaction A. NEFT.. C ) Blank or general INFINET ANSWER: C 57 title D D. These endorsements make it restrictive and Mr. Avinash in possession and as holder of the above ANSWER: 69! Neither clean advance nor secured advance D. Unsecured advance ANSWER: D 52 C. Real Technique Gross Settlement Real... In express words in the instrument as endorser with direction to Pay the of. —– has been introduced for the amount to another by mere delivery is known _____________... A ) the same title B ) no better title 26 Internet Banking D. Television Banking ANSWER: C.. “ PIN ” stands for of these guidelines can be converted into a bearer cheque ANSWER C...