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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) bonds
D) Stock
E) both bonds and stocks
  • 2. Drawee demand action from the drawer.
A) maybe
B) false
C) all of these
D) true
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) none of these
B) retail stores
C) pawnshops
D) credit unions
E) banks
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) both true and false
B) neither true nor false
C) false
D) true
E) none of these
  • 5. A personal Cheque is one which_________
A) The drawee gives instructions to the drawer to pay the payee a certain amount
B) none of these
C) The payee gives the drawee instructions to pay the drawer a certain amount
D) One which is belongs to a person alone
E) the drawer gives the drawee instructions to pay the payee a certain amount
  • 6. How many kinds of check?
A) 10
B) 9
C) 16
D) 12
E) none of these
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) commercial credit instrument
B) bouncing check
C) none of these
D) open check
E) post dated check
  • 8. The sources of credit are classified into
A) 10
B) 15
C) none of these
D) 18
E) 8
  • 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) NONE OF THESE
B) P125.50
C) P50.00
D) P44.27
E) P35.50
  • 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) P12,453.50
B) ALL OF THESE
C) P10,710
D) NONE OF THESE
E) P31,765
  • 11. It is the party entitled to receive payment.
A) none of these
B) drawee
C) payee
D) drawer
E) payor
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) all of these
B) saving and mortgage banks
C) saving and loans associations
D) none of these
E) sales finance companies
  • 13. How many kinds of stock?
A) 6
B) 4
C) 2
D) 5
  • 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) commercial credit instruments
D) investment credit instrument
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) qualified endorsement
B) blank endorsement
C) none of these
D) restrictive endorsement
E) special 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) personal loans
C) private individuals
D) credit unions
E) retail stores
  • 17. Endorsement are classified into______.
A) 5
B) 4
C) 6
D) none of these
E) 8
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) acceptor
B) indorser
C) none of these
D) indorsee
E) holder
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) post dated check
B) none of these
C) crossed check
D) open 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) neither bonds nor stocks
B) bonds
C) stocks
D) both bonds and stocks
E) none of these
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) indorser
B) holder
C) none of these
D) indorsee
E) acceptor
  • 22. It is the financial institution that pays check presented for payment.
A) drawer
B) none of these
C) payee
D) drawee
E) payer
  • 23. A 5 months note with a face value at P7,500 bears interest at 8%. Find the Maturity Date.
A) P1,500
B) NONE OF THESE
C) ALL OF THESE
D) P2.456.00
E) P7,750
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) demand draft
B) time draft
C) bank draft
D) none of these
E) sight 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) all of these
C) none of these
D) P151.35
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) certified check
B) bouncing check
C) overdraft check
D) stale dated 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) time deposits
B) saving deposits
C) none of these
D) NOW deposits
E) demand 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) all of these
C) it must be signed by the drawer
D) amount in words must tally with amount in figures
E) none of these
  • 29. These companies are both mutual and stockholder-owned.
A) none of these
B) saving and loan associations
C) saving and mortgage banks
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) payable to bearer
D) none of these
E) payable at future time
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) commercial credit instrument
B) none of these
C) all of these
D) investment credit instrument
E) bank credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) none of these
B) banks fractional number
C) pesos box
D) payee line
E) account number
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) either insured or non-insured
B) none of these
C) non -insured
D) neither insured nor insured
E) insured
  • 34. What checks that you buy at a bank and take with You you when you in a travel?
A) open check
B) crossed check
C) Traveller's check
D) post dated check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) none of these
B) special endorsement
C) qualified endorsement
D) Restrictive endorsement
E) bank endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) saving banks
B) none of these
C) rural banks
D) commercial banks
E) investment banks
  • 37. These banks pay at their profit to savers in interes dividends or retail as a reserve cushion against loss.
A) mutual saving banks
B) retail store
C) none of these
D) pawnshop
E) pension funds
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) bank deposits
B) check
C) promissory notes
D) none of these
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) time draft
B) bank draft
C) demand draft
D) none of these
E) sight draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) blank endorsement
B) special endorsement
C) none of these
D) qualified endorsement
E) restrictive endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) private individuals
B) retail stores
C) credit unions
D) personal loans
E) none of these
  • 42. They sell interest-bearing saving deposits to the public and acquire assets largely in the form of urban residential mortgages
A) mutual saving banks
B) insurance companies
C) all of these
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) crossed check
B) Overdraft 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) none of these
B) saving and loans association
C) mutual saving banks
D) saving and mortgage loans
E) Bonds and money market funds
  • 45. This check has date on its face or date of payment encashment that is more than 6 month old.
A) bouncing check
B) none of these
C) traveler's check
D) stale dated check
E) open check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) all of these
B) none of these
C) right to retain
D) right to resell the goods
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) qualified endorsement
B) special endorsement
C) blank 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) 90 DAYS
B) 21 DAYS
C) 50 DAYS
D) NONE OF THESE
E) 100 DAYS
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) insurance companies
B) pawnshop
C) sales finance companies
D) none of these
E) banks
  • 50. This instrument does not required presentation through a payee's banking account.
A) crossed check
B) post dated check
C) open check
D) none of these
  • 51. refers to the owner of account who sign the check.
A) none of these
B) payee
C) drawee
D) drawer
E) payer
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) neither bonds nor stocks
B) both bonds and stocks
C) none of these
D) bonds
E) stocks
  • 53. It is safer to bring along checks for large payment rather than cash.
A) all of these
B) stop payment
C) none of these
D) odd amount
E) safety and convenience
  • 54. it is the part of check, tells about the account owner.
A) account number
B) memo line
C) none of these
D) person information
E) payee line
  • 55. The person to whom the check is written.
A) none of these
B) payer
C) payee
D) drawer
E) drawee
  • 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) neither preferred nor common stocks
B) none of these
C) both preferred and common stocks
D) 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) blank endorsement
B) qualified endorsement
C) restrictive endorsement
D) special endorsement
E) none of these
  • 58. Credit instrument are classified into______.
A) 6
B) none of these
C) 10
D) 4
E) 2
  • 59. Pension funds may be_______.
A) none of these
B) non-insured
C) neither insured nor insured
D) 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) holder
B) indorser
C) none of these
D) indorsee
E) acceptor
  • 61. It is the signature of payee on the back of negotiable instrument.
A) signer
B) written
C) grantor
D) none of these
E) endorsement
  • 62. Checking account is legal contract between payer and payee.
A) all of these
B) true
C) maybe
D) none of these
E) false
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