Direction: In the question below are given three statements followed by two conclusions numbered I and II. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the following conclusions logically follows from the given statements disregarding commonly known facts.

Statement:

Every Coin is a Banknote.

Every Banknote is a Cheque.

Some Cheques are not Policy

Conclusion:

I. All Policies are Cheques.

II. All Banknotes being Policy is a possibility.