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) bonds
C) Stock
D) none of these
E) both bonds and stocks
  • 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) banks
B) credit unions
C) pawnshops
D) retail stores
E) none of these
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) true
B) neither true nor false
C) false
D) none of these
E) both true and false
  • 5. A personal Cheque is one which_________
A) none of these
B) The payee gives the drawee instructions to pay the drawer a certain amount
C) the drawer gives the drawee instructions to pay the payee a certain amount
D) The drawee gives instructions to the drawer to pay the payee a certain amount
E) One which is belongs to a person alone
  • 6. How many kinds of check?
A) 16
B) 9
C) 12
D) none of these
E) 10
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) post dated check
B) none of these
C) open check
D) commercial credit instrument
E) bouncing check
  • 8. The sources of credit are classified into
A) 8
B) none of these
C) 15
D) 10
E) 18
  • 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) P50.00
C) NONE OF THESE
D) P35.50
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) P10,710
C) P12,453.50
D) P31,765
E) NONE OF THESE
  • 11. It is the party entitled to receive payment.
A) none of these
B) payor
C) payee
D) drawer
E) drawee
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) none of these
B) sales finance companies
C) saving and loans associations
D) saving and mortgage banks
E) all of these
  • 13. How many kinds of stock?
A) 2
B) 5
C) 4
D) 6
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) none of these
B) investment credit instrument
C) all of these
D) commercial credit instruments
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) blank endorsement
B) none of these
C) restrictive endorsement
D) qualified 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) private individuals
B) none of these
C) personal loans
D) retail stores
E) credit unions
  • 17. Endorsement are classified into______.
A) 5
B) 4
C) 8
D) none of these
E) 6
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) indorsee
B) indorser
C) acceptor
D) none of these
E) holder
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) certified check
B) none of these
C) open check
D) crossed 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) bonds
C) stocks
D) none of these
E) neither bonds nor stocks
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) none of these
B) acceptor
C) indorser
D) indorsee
E) holder
  • 22. It is the financial institution that pays check presented for payment.
A) payee
B) payer
C) drawee
D) drawer
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) demand draft
B) none of these
C) time draft
D) sight 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) P151.35
B) all of these
C) none of these
D) P45.60
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) bouncing check
B) overdraft check
C) stale dated check
D) none of these
E) certified check
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) demand deposits
B) time deposits
C) NOW deposits
D) none of these
E) saving deposits
  • 28. The following are examples of guidelines in accepting check for payment, except;
A) all of these
B) payee must be the name of the company (corporate account)
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) insurance companies
B) saving and mortgage banks
C) none of these
D) saving and loan associations
E) mutual saving banks
  • 30. The following are example of instruments characteristics except;
A) payable to bearer
B) none of these
C) payable at future time
D) payable to order
E) payable on demand
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) investment credit instrument
B) none of these
C) all of these
D) commercial credit instrument
E) bank credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) account number
B) pesos box
C) banks fractional number
D) none of these
E) payee line
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) insured
B) neither insured nor insured
C) either insured or non-insured
D) none of these
E) non -insured
  • 34. What checks that you buy at a bank and take with You you when you in a travel?
A) crossed check
B) Traveller's check
C) post dated check
D) open check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) special endorsement
B) bank endorsement
C) none of these
D) qualified endorsement
E) Restrictive endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) rural banks
B) commercial banks
C) none of these
D) investment banks
E) saving 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) mutual saving banks
D) retail store
E) pawnshop
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) bank deposits
B) none of these
C) promissory notes
D) bank draft
E) check
  • 39. The drawer is a bank directing another bank to pay at a specified time the payee named in the instrument.
A) demand draft
B) sight draft
C) bank draft
D) none of these
E) time draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) blank endorsement
B) special endorsement
C) restrictive endorsement
D) none of these
E) qualified endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) none of these
B) retail stores
C) credit unions
D) personal loans
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) none of these
B) saving and mortgages banks
C) mutual saving banks
D) all of these
E) insurance companies
  • 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) post dated check
D) Overdraft 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) saving and loans association
C) saving and mortgage loans
D) none of these
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) traveler's check
B) none of these
C) open check
D) stale dated check
E) bouncing check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) all of these
B) right to stop the goods in transit
C) none of these
D) right to retain
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) blank endorsement
B) restrictive endorsement
C) none of these
D) special 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) NONE OF THESE
C) 90 DAYS
D) 50 DAYS
E) 100 DAYS
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) banks
B) insurance companies
C) none of these
D) sales finance companies
E) pawnshop
  • 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) drawee
B) payer
C) drawer
D) none of these
E) payee
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) both bonds and stocks
B) stocks
C) neither bonds nor stocks
D) bonds
E) none of these
  • 53. It is safer to bring along checks for large payment rather than cash.
A) all of these
B) odd amount
C) none of these
D) stop payment
E) safety and convenience
  • 54. it is the part of check, tells about the account owner.
A) payee line
B) memo line
C) person information
D) account number
E) none of these
  • 55. The person to whom the check is written.
A) drawer
B) none of these
C) drawee
D) payee
E) payer
  • 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) none of these
B) common stocks
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) blank endorsement
B) none of these
C) special endorsement
D) qualified endorsement
E) restrictive endorsement
  • 58. Credit instrument are classified into______.
A) 6
B) 2
C) none of these
D) 10
E) 4
  • 59. Pension funds may be_______.
A) insured
B) none of these
C) Both insured and non-insured
D) non-insured
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) 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) grantor
B) none of these
C) endorsement
D) written
E) signer
  • 62. Checking account is legal contract between payer and payee.
A) maybe
B) true
C) none of these
D) all of these
E) false
Created with That Quiz — where test making and test taking are made easy for math and other subject areas.