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  • 1. It represents the stockholders right to a certain portion of the assets of a corporation upon liquidation and to a certain shares of the profit after prior claims have been paid.
A) none of these
B) neither bonds and stocks
C) both bonds and stocks
D) bonds
E) Stock
  • 2. Drawee demand action from the drawer.
A) true
B) all of these
C) false
D) maybe
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) none of these
B) banks
C) pawnshops
D) retail stores
E) credit unions
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) false
B) none of these
C) both true and false
D) true
E) neither true nor false
  • 5. A personal Cheque is one which_________
A) One which is belongs to a person alone
B) the drawer gives the drawee instructions to pay the payee a certain amount
C) The payee gives the drawee instructions to pay the drawer a certain amount
D) none of these
E) The drawee gives instructions to the drawer to pay the payee a certain amount
  • 6. How many kinds of check?
A) 12
B) 16
C) none of these
D) 9
E) 10
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) commercial credit instrument
B) post dated check
C) none of these
D) bouncing check
E) open check
  • 8. The sources of credit are classified into
A) 18
B) 10
C) 15
D) 8
E) none of these
  • 9. A maturity value is P 5,366.25 and maturity date is Nov. 16 and the 9% discount rate on Oct. 14. Find the BANK DISCOUNT.
A) P50.00
B) NONE OF THESE
C) P125.50
D) P35.50
E) P44.27
  • 10. A notes of P10,500 was computed on a 120days note dated Aug. 15, 2009 at an interest rate 6%. find the maturity value.
A) P12,453.50
B) P31,765
C) NONE OF THESE
D) P10,710
E) ALL OF THESE
  • 11. It is the party entitled to receive payment.
A) drawer
B) drawee
C) payee
D) payor
E) none of these
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) none of these
B) saving and loans associations
C) all of these
D) sales finance companies
E) saving and mortgage banks
  • 13. How many kinds of stock?
A) 5
B) 4
C) 2
D) 6
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) commercial credit instruments
B) none of these
C) investment credit instrument
D) all of these
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) restrictive endorsement
B) none of these
C) qualified endorsement
D) special endorsement
E) blank endorsement
  • 16. They are sometimes called "loan sharks" or usurers because they lend money at an interest rate of 20% (5/6) which is over and above what the law allows.
A) none of these
B) private individuals
C) personal loans
D) retail stores
E) credit unions
  • 17. Endorsement are classified into______.
A) 5
B) none of these
C) 8
D) 6
E) 4
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) indorser
B) acceptor
C) indorsee
D) holder
E) none of these
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) certified check
B) none of these
C) crossed check
D) open check
E) post dated check
  • 20. refers to the promises to pay the principal as well as the interest to the holder at a certain specified time indicated on the face of the instrument.
A) none of these
B) stocks
C) bonds
D) neither bonds nor stocks
E) both bonds and stocks
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) acceptor
B) indorsee
C) indorser
D) none of these
E) holder
  • 22. It is the financial institution that pays check presented for payment.
A) drawer
B) payer
C) drawee
D) none of these
E) payee
  • 23. A 5 months note with a face value at P7,500 bears interest at 8%. Find the Maturity Date.
A) P2.456.00
B) ALL OF THESE
C) P7,750
D) P1,500
E) NONE OF THESE
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) sight draft
B) time draft
C) bank draft
D) demand draft
E) none of these
  • 25. Find the bank discount of 90 days, 8% note for P 7,920 date Mar 21 and discounted April 5 at 9 1/2%.
A) P151.35
B) P45.60
C) P25.40
D) none of these
E) all of these
  • 26. This check is stamped" no sufficient fund check because there is not enough funds in a depositor's account to cover the check.
A) bouncing check
B) none of these
C) stale dated check
D) certified check
E) overdraft check
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) NOW deposits
B) time deposits
C) saving deposits
D) none of these
E) demand deposits
  • 28. The following are examples of guidelines in accepting check for payment, except;
A) amount in words must tally with amount in figures
B) payee must be the name of the company (corporate account)
C) none of these
D) all of these
E) it must be signed by the drawer
  • 29. These companies are both mutual and stockholder-owned.
A) mutual saving banks
B) none of these
C) insurance companies
D) saving and loan associations
E) saving and mortgage banks
  • 30. The following are example of instruments characteristics except;
A) payable on demand
B) payable at future time
C) payable to order
D) none of these
E) payable to bearer
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) none of these
B) commercial credit instrument
C) bank credit instrument
D) all of these
E) investment credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) none of these
B) payee line
C) account number
D) pesos box
E) banks fractional number
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) none of these
B) neither insured nor insured
C) non -insured
D) either insured or non-insured
E) insured
  • 34. What checks that you buy at a bank and take with You you when you in a travel?
A) crossed check
B) open check
C) post dated check
D) Traveller's check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) Restrictive endorsement
B) qualified endorsement
C) special endorsement
D) none of these
E) bank endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) none of these
B) rural banks
C) investment banks
D) saving banks
E) commercial banks
  • 37. These banks pay at their profit to savers in interes dividends or retail as a reserve cushion against loss.
A) pawnshop
B) none of these
C) pension funds
D) mutual saving banks
E) retail store
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) none of these
B) bank deposits
C) promissory notes
D) check
E) bank draft
  • 39. The drawer is a bank directing another bank to pay at a specified time the payee named in the instrument.
A) bank draft
B) demand draft
C) time draft
D) sight draft
E) none of these
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) special endorsement
B) blank endorsement
C) restrictive endorsement
D) qualified endorsement
E) none of these
  • 41. They usually do not required collateral but charge higher interest rates
A) credit unions
B) none of these
C) private individuals
D) personal loans
E) retail stores
  • 42. They sell interest-bearing saving deposits to the public and acquire assets largely in the form of urban residential mortgages
A) all of these
B) insurance companies
C) none of these
D) saving and mortgages banks
E) mutual saving banks
  • 43. This is an instrument that has the word "certified or good for payment; stamped on its face.
A) Overdraft check
B) crossed check
C) none of these
D) certified check
E) post dated check
  • 44. These are companies which accept saving and place them in a pool for investments that allows diversification of assets.
A) Bonds and money market funds
B) saving and mortgage loans
C) mutual saving banks
D) saving and loans association
E) none of these
  • 45. This check has date on its face or date of payment encashment that is more than 6 month old.
A) none of these
B) traveler's check
C) open check
D) stale dated check
E) bouncing check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) right to resell the goods
B) all of these
C) right to retain
D) none of these
E) right to stop the goods in transit
  • 47. It may be done by adding the phrase "without recourse" or word of similar import.

    a

    You
A) restrictive endorsement
B) none of these
C) special endorsement
D) qualified endorsement
E) blank endorsement
  • 48. A 120days note with interest at 7 1/2% was signed on September 23, 2001 and discounted at 7% on October 23,2001. if the proceeds were P9,040 what is the TERM DISCOUNT?
A) 100 DAYS
B) 50 DAYS
C) 90 DAYS
D) 21 DAYS
E) NONE OF THESE
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) sales finance companies
B) banks
C) pawnshop
D) none of these
E) insurance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) crossed check
B) open check
C) none of these
D) post dated check
  • 51. refers to the owner of account who sign the check.
A) drawer
B) payee
C) drawee
D) payer
E) none of these
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) both bonds and stocks
B) neither bonds nor stocks
C) stocks
D) none of these
E) bonds
  • 53. It is safer to bring along checks for large payment rather than cash.
A) stop payment
B) odd amount
C) safety and convenience
D) all of these
E) none of these
  • 54. it is the part of check, tells about the account owner.
A) person information
B) memo line
C) none of these
D) account number
E) payee line
  • 55. The person to whom the check is written.
A) payer
B) payee
C) drawee
D) drawer
E) none of these
  • 56. They come with right to a fixed dividends which is higher than that from common share and secondary to the interest on all classes of bonds and notes.
A) common stocks
B) none of these
C) neither preferred nor common stocks
D) both preferred and common stocks
E) preferred stocks
  • 57. It is a kind of endorsement that the receiver sign and writes pay to order and allow the check tobe transferred to 3rd party.
A) restrictive endorsement
B) blank endorsement
C) none of these
D) qualified endorsement
E) special endorsement
  • 58. Credit instrument are classified into______.
A) none of these
B) 6
C) 10
D) 4
E) 2
  • 59. Pension funds may be_______.
A) Both insured and non-insured
B) insured
C) non-insured
D) none of these
E) neither insured nor insured
  • 60. Drawer of a draft who has promised to honor the draft as presented by signing it on its face.
A) none of these
B) indorser
C) acceptor
D) indorsee
E) holder
  • 61. It is the signature of payee on the back of negotiable instrument.
A) endorsement
B) grantor
C) written
D) none of these
E) signer
  • 62. Checking account is legal contract between payer and payee.
A) false
B) all of these
C) none of these
D) true
E) maybe
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