ThatQuiz
|
Test Library
|
Take this test now
finap6
  • 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) Stock
D) both bonds and stocks
E) bonds
  • 2. Drawee demand action from the drawer.
A) maybe
B) all of these
C) true
D) false
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) pawnshops
B) credit unions
C) none of these
D) retail stores
E) banks
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) neither true nor false
B) both true and false
C) none of these
D) false
E) true
  • 5. A personal Cheque is one which_________
A) One which is belongs to a person alone
B) The drawee gives instructions to the drawer to pay the payee a certain amount
C) the drawer gives the drawee instructions to pay the payee a certain amount
D) none of these
E) The payee gives the drawee instructions to pay the drawer a certain amount
  • 6. How many kinds of check?
A) 16
B) 12
C) 9
D) 10
E) none of these
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) bouncing check
B) post dated check
C) open check
D) commercial credit instrument
E) none of these
  • 8. The sources of credit are classified into
A) 8
B) 10
C) 18
D) 15
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) P44.27
B) P35.50
C) P50.00
D) NONE OF THESE
E) P125.50
  • 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) ALL OF THESE
B) P31,765
C) P12,453.50
D) NONE OF THESE
E) P10,710
  • 11. It is the party entitled to receive payment.
A) none of these
B) drawee
C) payor
D) payee
E) drawer
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) saving and loans associations
B) none of these
C) sales finance companies
D) all of these
E) saving and mortgage banks
  • 13. How many kinds of stock?
A) 6
B) 2
C) 4
D) 5
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) investment credit instrument
B) commercial credit instruments
C) none of these
D) all of these
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) qualified endorsement
B) restrictive endorsement
C) blank endorsement
D) special endorsement
E) none of these
  • 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) personal loans
B) credit unions
C) retail stores
D) none of these
E) private individuals
  • 17. Endorsement are classified into______.
A) 6
B) none of these
C) 8
D) 5
E) 4
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) acceptor
B) indorser
C) none of these
D) holder
E) indorsee
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) none of these
B) crossed check
C) certified 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) both bonds and stocks
B) none of these
C) bonds
D) neither bonds nor stocks
E) stocks
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) acceptor
B) none of these
C) holder
D) indorser
E) indorsee
  • 22. It is the financial institution that pays check presented for payment.
A) drawer
B) drawee
C) payer
D) payee
E) none of these
  • 23. A 5 months note with a face value at P7,500 bears interest at 8%. Find the Maturity Date.
A) P7,750
B) NONE OF THESE
C) P1,500
D) P2.456.00
E) ALL OF THESE
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) sight draft
B) demand draft
C) none of these
D) time draft
E) bank draft
  • 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) P45.60
B) none of these
C) P151.35
D) all of these
E) P25.40
  • 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) stale dated check
B) certified check
C) bouncing check
D) overdraft check
E) none of these
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) demand deposits
B) saving deposits
C) none of these
D) NOW deposits
E) time 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) all of these
D) it must be signed by the drawer
E) none of these
  • 29. These companies are both mutual and stockholder-owned.
A) saving and mortgage banks
B) saving and loan associations
C) none of these
D) mutual saving banks
E) insurance companies
  • 30. The following are example of instruments characteristics except;
A) payable to order
B) payable on demand
C) none of these
D) payable at future time
E) payable to bearer
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) all of these
B) none of these
C) commercial credit instrument
D) investment credit instrument
E) bank credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) banks fractional number
B) payee line
C) none of these
D) account number
E) pesos box
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) neither insured nor insured
B) non -insured
C) insured
D) none of these
E) either insured or non-insured
  • 34. What checks that you buy at a bank and take with You you when you in a travel?
A) open check
B) post dated check
C) Traveller's check
D) crossed check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) bank endorsement
B) Restrictive endorsement
C) none of these
D) qualified endorsement
E) special endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) investment banks
B) rural banks
C) none of these
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) none of these
B) pension funds
C) retail store
D) mutual saving banks
E) pawnshop
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) check
B) none of these
C) promissory notes
D) bank draft
E) bank deposits
  • 39. The drawer is a bank directing another bank to pay at a specified time the payee named in the instrument.
A) sight draft
B) time draft
C) bank draft
D) demand draft
E) none of these
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) qualified endorsement
B) none of these
C) restrictive endorsement
D) special endorsement
E) blank endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) credit unions
B) personal loans
C) none of these
D) retail stores
E) private individuals
  • 42. They sell interest-bearing saving deposits to the public and acquire assets largely in the form of urban residential mortgages
A) saving and mortgages banks
B) all of these
C) mutual saving banks
D) insurance companies
E) none of these
  • 43. This is an instrument that has the word "certified or good for payment; stamped on its face.
A) none of these
B) Overdraft check
C) certified check
D) post dated check
E) crossed check
  • 44. These are companies which accept saving and place them in a pool for investments that allows diversification of assets.
A) none of these
B) mutual saving banks
C) saving and loans association
D) Bonds and money market funds
E) saving and mortgage loans
  • 45. This check has date on its face or date of payment encashment that is more than 6 month old.
A) bouncing check
B) traveler's check
C) open check
D) none of these
E) stale dated check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) none of these
B) right to retain
C) all of these
D) right to stop the goods in transit
E) right to resell the goods
  • 47. It may be done by adding the phrase "without recourse" or word of similar import.

    a

    You
A) special endorsement
B) none of these
C) restrictive endorsement
D) blank endorsement
E) qualified 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) 21 DAYS
B) 100 DAYS
C) 90 DAYS
D) 50 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) none of these
D) pawnshop
E) insurance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) post dated check
B) none of these
C) open check
D) crossed check
  • 51. refers to the owner of account who sign the check.
A) drawer
B) payer
C) none of these
D) payee
E) drawee
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) none of these
B) bonds
C) stocks
D) neither bonds nor stocks
E) both bonds and stocks
  • 53. It is safer to bring along checks for large payment rather than cash.
A) odd amount
B) all of these
C) safety and convenience
D) none of these
E) stop payment
  • 54. it is the part of check, tells about the account owner.
A) payee line
B) account number
C) none of these
D) person information
E) memo line
  • 55. The person to whom the check is written.
A) none of these
B) payer
C) drawee
D) drawer
E) payee
  • 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) neither preferred nor common stocks
C) preferred stocks
D) both preferred and common stocks
E) none of these
  • 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) qualified endorsement
B) special endorsement
C) blank endorsement
D) none of these
E) restrictive endorsement
  • 58. Credit instrument are classified into______.
A) 4
B) 2
C) 6
D) 10
E) none of these
  • 59. Pension funds may be_______.
A) neither insured nor insured
B) none of these
C) Both insured and non-insured
D) insured
E) non-insured
  • 60. Drawer of a draft who has promised to honor the draft as presented by signing it on its face.
A) holder
B) indorsee
C) none of these
D) indorser
E) acceptor
  • 61. It is the signature of payee on the back of negotiable instrument.
A) signer
B) written
C) none of these
D) endorsement
E) grantor
  • 62. Checking account is legal contract between payer and payee.
A) false
B) maybe
C) all of these
D) none of these
E) true
Created with That Quiz — where test making and test taking are made easy for math and other subject areas.