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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) bonds
B) none of these
C) neither bonds and stocks
D) both bonds and stocks
E) Stock
  • 2. Drawee demand action from the drawer.
A) false
B) true
C) all of these
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) pawnshops
C) banks
D) credit unions
E) retail stores
  • 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) true
D) false
E) none of these
  • 5. A personal Cheque is one which_________
A) One which is belongs to a person alone
B) The payee gives the drawee instructions to pay the drawer a certain amount
C) The drawee gives instructions to the drawer to pay the payee a certain amount
D) none of these
E) the drawer gives the drawee instructions to pay the payee a certain amount
  • 6. How many kinds of check?
A) 12
B) none of these
C) 10
D) 16
E) 9
  • 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) bouncing check
D) open check
E) commercial credit instrument
  • 8. The sources of credit are classified into
A) none of these
B) 10
C) 8
D) 18
E) 15
  • 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) P125.50
B) NONE OF THESE
C) P44.27
D) P35.50
E) P50.00
  • 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) P31,765
B) P10,710
C) NONE OF THESE
D) ALL OF THESE
E) P12,453.50
  • 11. It is the party entitled to receive payment.
A) payee
B) drawee
C) none of these
D) payor
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) saving and mortgage banks
C) none of these
D) sales finance companies
E) all of these
  • 13. How many kinds of stock?
A) 4
B) 5
C) 2
D) 6
  • 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) special endorsement
B) blank endorsement
C) none of these
D) restrictive 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) credit unions
D) retail stores
E) none of these
  • 17. Endorsement are classified into______.
A) 5
B) 8
C) none of these
D) 4
E) 6
  • 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) none of these
B) open check
C) certified check
D) post dated check
E) crossed 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) bonds
C) none of these
D) both bonds and stocks
E) neither bonds nor stocks
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) indorsee
B) indorser
C) none of these
D) holder
E) acceptor
  • 22. It is the financial institution that pays check presented for payment.
A) payee
B) drawer
C) drawee
D) payer
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) ALL OF THESE
B) NONE OF THESE
C) P1,500
D) P7,750
E) P2.456.00
  • 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) none of these
B) P45.60
C) P151.35
D) P25.40
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) none of these
B) bouncing check
C) overdraft check
D) stale dated check
E) certified 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) demand deposits
D) saving deposits
E) none of these
  • 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) amount in words must tally with amount in figures
C) all of these
D) none of these
E) it must be signed by the drawer
  • 29. These companies are both mutual and stockholder-owned.
A) none of these
B) saving and loan associations
C) mutual saving banks
D) saving and mortgage banks
E) insurance companies
  • 30. The following are example of instruments characteristics except;
A) payable to order
B) payable on demand
C) payable at future time
D) payable to bearer
E) none of these
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) bank credit instrument
B) investment credit instrument
C) none of these
D) all of these
E) commercial credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) account number
B) pesos box
C) payee line
D) banks fractional number
E) none of these
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) none of these
B) either insured or non-insured
C) non -insured
D) 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) open check
D) crossed check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) none of these
B) qualified endorsement
C) Restrictive endorsement
D) bank endorsement
E) special endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) none of these
B) investment banks
C) rural 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) 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) none of these
B) bank deposits
C) check
D) bank draft
E) promissory notes
  • 39. The drawer is a bank directing another bank to pay at a specified time the payee named in the instrument.
A) none of these
B) demand draft
C) bank draft
D) sight draft
E) time draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) qualified endorsement
B) restrictive endorsement
C) special endorsement
D) none of these
E) blank endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) retail stores
B) none of these
C) personal loans
D) credit unions
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) insurance companies
B) none of these
C) saving and mortgages banks
D) all of these
E) mutual saving banks
  • 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 mortgage loans
C) none of these
D) Bonds and money market funds
E) saving and loans association
  • 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) open 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 retain
B) none of these
C) all of these
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) none of these
B) special endorsement
C) blank endorsement
D) qualified endorsement
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) NONE OF THESE
B) 90 DAYS
C) 50 DAYS
D) 100 DAYS
E) 21 DAYS
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) none of these
B) pawnshop
C) sales finance companies
D) banks
E) insurance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) crossed check
B) post dated check
C) none of these
D) open check
  • 51. refers to the owner of account who sign the check.
A) drawee
B) none of these
C) payer
D) drawer
E) payee
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) both bonds and stocks
B) none of these
C) neither bonds nor stocks
D) stocks
E) bonds
  • 53. It is safer to bring along checks for large payment rather than cash.
A) odd amount
B) stop payment
C) none of these
D) all of these
E) safety and convenience
  • 54. it is the part of check, tells about the account owner.
A) memo line
B) none of these
C) account number
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) preferred stocks
C) both preferred and common stocks
D) 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) special endorsement
B) qualified endorsement
C) blank endorsement
D) none of these
E) restrictive endorsement
  • 58. Credit instrument are classified into______.
A) 10
B) 2
C) none of these
D) 4
E) 6
  • 59. Pension funds may be_______.
A) non-insured
B) neither insured nor insured
C) insured
D) none of these
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) indorser
B) indorsee
C) holder
D) none of these
E) acceptor
  • 61. It is the signature of payee on the back of negotiable instrument.
A) grantor
B) endorsement
C) signer
D) none of these
E) written
  • 62. Checking account is legal contract between payer and payee.
A) all of these
B) maybe
C) true
D) none of these
E) false
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