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

    a

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