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AFM Capsule Cards PRO Bills of Exchange
Who are the three primary parties involved in a Bill of Exchange?
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Parties to a Bill of Exchange
Bills of Exchange 51
WA 51
AFM Capsule Cards PRO Bills of Exchange
According to Section 5 of the Negotiable Instruments Act, what is a Bill of Exchange?
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Bill of Exchange (Sec 5)
Bills of Exchange 46
WA 46
AFM Capsule Cards PRO Bills of Exchange
Who are the two parties involved in a Promissory Note?
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Parties to a Promissory Note
Bills of Exchange 42
WA 42
AFM Capsule Cards PRO Bills of Exchange
What is a key operational difference between a Bill of Exchange and a Promissory Note regarding acceptance?
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Acceptance Requirement
Bills of Exchange 41
WA 41
AFM Capsule Cards PRO Bills of Exchange
What happens if the calculated due date of a bill falls on a public holiday?
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Maturity on a Public Holiday
Bills of Exchange 41
WA 41
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AFM Capsule Cards PRO Bills of Exchange
What happens during the 'Renewal of a bill'?
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Renewal of a Bill
Bills of Exchange 40
WA 40
AFM Capsule Cards PRO Bills of Exchange
What makes a person a 'Holder in due course' of a bill?
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Holder vs Holder in Due Course
Bills of Exchange 39
WA 39
AFM Capsule Cards PRO Bills of Exchange
What does 'Discounting of a bill' mean in banking operations?
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Discounting of Bill
Bills of Exchange 39
WA 39
AFM Capsule Cards PRO Bills of Exchange
How does Section 6 of the Negotiable Instruments Act define a Cheque?
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Cheque Definition (Sec 6)
Bills of Exchange 38
WA 38
AFM Capsule Cards PRO Bills of Exchange
How many 'Days of Grace' are added to the term of a bill to calculate its legal maturity/due date?
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Days of Grace
Bills of Exchange 37
WA 37
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AFM Capsule Cards PRO Bills of Exchange
Define 'Endorsement' and 'Retirement' of a bill of exchange.
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Endorsement & Retirement
Bills of Exchange 37
WA 37
AFM Capsule Cards PRO Bills of Exchange
What is the 'Term' or 'Tenor' of a bill of exchange?
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Term / Tenor of a Bill
Bills of Exchange 36
WA 36
AFM Capsule Cards PRO Bills of Exchange
What is the purpose of the Bills Receivable Book?
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Bills Receivable Book
Bills of Exchange 33
WA 33
AFM Capsule Cards PRO Bills of Exchange
How does Section 4 of the Negotiable Instruments Act define a Promissory Note?
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Promissory Note (Sec 4)
Bills of Exchange 33
WA 33
AFM Capsule Cards PRO Bills of Exchange
What is the primary purpose of an 'Accommodation Bill'?
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Accommodation Bill
Bills of Exchange 32
WA 32
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AFM Capsule Cards PRO Bills of Exchange
Who initially pays the noting charges, and who ultimately bears the cost?
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Noting Charges Payment
Bills of Exchange 31
WA 31
AFM Capsule Cards PRO Bills of Exchange
What legal action is taken when a bill is dishonoured to officially record the fact of dishonour?
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Dishonour & Noting
Bills of Exchange 27
WA 27
AFM Capsule Cards PRO Bills of Exchange
What is the Bills Payable Book used for in basic accounting?
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Bills Payable Book
Bills of Exchange 33
WA 33
AFM Capsule Cards PRO Bills of Exchange
What is a 'Protest' in the context of dishonoured bills?
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Protest Document
Bills of Exchange 32
WA 32
AFM Capsule Cards PRO Bills of Exchange
If the drawee of a bill becomes insolvent, what happens to the unpaid balance after partial recovery?
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Insolvent Drawee (Deficiency)
Bills of Exchange 31
WA 31
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Bills of Exchange — JAIIB AFM Capsules

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All 20 cards on this page
Parties to a Bill of Exchange Who are the three primary parties involved in a Bill of Exchange? Bill of Exchange (Sec 5) According to Section 5 of the Negotiable Instruments Act, what is a Bill of Exchange? Parties to a Promissory Note Who are the two parties involved in a Promissory Note? Acceptance Requirement What is a key operational difference between a Bill of Exchange and a Promissory Note regarding acceptan… Maturity on a Public Holiday What happens if the calculated due date of a bill falls on a public holiday? Renewal of a Bill What happens during the 'Renewal of a bill'? Holder vs Holder in Due Course What makes a person a 'Holder in due course' of a bill? Discounting of Bill What does 'Discounting of a bill' mean in banking operations? Cheque Definition (Sec 6) How does Section 6 of the Negotiable Instruments Act define a Cheque? Days of Grace How many 'Days of Grace' are added to the term of a bill to calculate its legal maturity/due date? Endorsement & Retirement Define 'Endorsement' and 'Retirement' of a bill of exchange. Term / Tenor of a Bill What is the 'Term' or 'Tenor' of a bill of exchange? Bills Receivable Book What is the purpose of the Bills Receivable Book? Promissory Note (Sec 4) How does Section 4 of the Negotiable Instruments Act define a Promissory Note? Accommodation Bill What is the primary purpose of an 'Accommodation Bill'? Noting Charges Payment Who initially pays the noting charges, and who ultimately bears the cost? Dishonour & Noting What legal action is taken when a bill is dishonoured to officially record the fact of dishonour? Bills Payable Book What is the Bills Payable Book used for in basic accounting? Protest Document What is a 'Protest' in the context of dishonoured bills? Insolvent Drawee (Deficiency) If the drawee of a bill becomes insolvent, what happens to the unpaid balance after partial recovery?
Chapters in this paper
Definition, Scope & Accounting Standards including Ind AS Balance Sheet Equation Financial Management - An Overview Taxation: Income Tax/TDS/Deferred Tax Basic Accountancy Procedures Preparation of Final Accounts Ratio Analysis Goods & Services Tax Maintenance of Cash/Subsidiary Books and Ledger Company Accounts - I Financial Mathematics - Calculation of Interest and Annuities An Overview of Cost & Management Accounting Bank Reconciliation Statement Company Accounts - II Financial Mathematics - Calculation of YTM Costing Methods
Modules in AFM
MODULE A: Accounting Principles and Processes MODULE B: Financial Statements and Core Banking Systems MODULE C: Financial Management MODULE D: Taxation and Fundamentals of Costing
JAIIB papers
IE-IFS — Indian Economy & Indian Financial System PPB — Principles & Practices of Banking AFM — Accounting & Financial Management for Bankers RBWM — Retail Banking & Wealth Management
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