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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) both bonds and stocks
C) neither bonds and stocks
D) bonds
E) Stock
  • 2. Drawee demand action from the drawer.
A) false
B) true
C) maybe
D) all of these
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) banks
B) pawnshops
C) retail stores
D) none of these
E) credit unions
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) true
B) false
C) none of these
D) neither true nor false
E) both true and false
  • 5. A personal Cheque is one which_________
A) The drawee gives instructions to the drawer to pay the payee a certain amount
B) One which is belongs to a person alone
C) the drawer gives the drawee instructions to pay the payee a certain amount
D) The payee gives the drawee instructions to pay the drawer a certain amount
E) none of these
  • 6. How many kinds of check?
A) 10
B) none of these
C) 16
D) 12
E) 9
  • 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) bouncing check
D) none of these
E) commercial credit instrument
  • 8. The sources of credit are classified into
A) 8
B) 15
C) 18
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) P35.50
B) P50.00
C) P44.27
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) drawee
B) payor
C) drawer
D) none of these
E) payee
  • 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) sales finance companies
C) all of these
D) none of these
E) saving and mortgage banks
  • 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) investment credit instrument
B) none of these
C) commercial credit instruments
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) restrictive endorsement
D) qualified 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) none of these
D) private individuals
E) retail stores
  • 17. Endorsement are classified into______.
A) 6
B) none of these
C) 5
D) 8
E) 4
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) indorser
B) holder
C) indorsee
D) none of these
E) acceptor
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) crossed check
B) post dated check
C) certified check
D) open check
E) none of these
  • 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) none of these
C) stocks
D) bonds
E) both bonds and stocks
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) acceptor
B) holder
C) indorsee
D) indorser
E) none of these
  • 22. It is the financial institution that pays check presented for payment.
A) payer
B) payee
C) drawer
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) NONE OF THESE
C) P7,750
D) P2.456.00
E) P1,500
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) time draft
B) demand draft
C) sight draft
D) bank draft
E) none of these
  • 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) all of these
B) none of these
C) P45.60
D) P25.40
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) none of these
B) overdraft check
C) certified check
D) stale dated check
E) bouncing check
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) saving deposits
B) demand 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) it must be signed by the drawer
B) all of these
C) none of these
D) payee must be the name of the company (corporate account)
E) amount in words must tally with amount in figures
  • 29. These companies are both mutual and stockholder-owned.
A) mutual saving banks
B) insurance companies
C) none of these
D) saving and mortgage banks
E) saving and loan associations
  • 30. The following are example of instruments characteristics except;
A) payable to bearer
B) payable at future time
C) payable to order
D) none of these
E) payable on demand
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) commercial credit instrument
B) investment credit instrument
C) bank credit instrument
D) all of these
E) none of these
  • 32. it is the part of check, that written out using word instead of number.
A) banks fractional number
B) pesos box
C) payee line
D) account number
E) none of these
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) either insured or non-insured
B) insured
C) neither insured nor 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) 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) 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) saving banks
B) investment banks
C) none of these
D) rural 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) retail store
C) mutual saving banks
D) pawnshop
E) pension funds
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) bank draft
B) none of these
C) check
D) promissory notes
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) demand draft
B) time draft
C) none of these
D) sight draft
E) bank draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) restrictive endorsement
B) blank endorsement
C) special endorsement
D) qualified endorsement
E) none of these
  • 41. They usually do not required collateral but charge higher interest rates
A) private individuals
B) none of these
C) personal loans
D) credit unions
E) retail stores
  • 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) insurance companies
C) all of these
D) mutual saving banks
E) none of these
  • 43. This is an instrument that has the word "certified or good for payment; stamped on its face.
A) post dated check
B) Overdraft check
C) crossed check
D) certified check
E) none of these
  • 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) Bonds and money market funds
C) saving and mortgage loans
D) saving and loans association
E) none of these
  • 45. This check has date on its face or date of payment encashment that is more than 6 month old.
A) open check
B) stale dated check
C) traveler's check
D) none of these
E) bouncing check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) right to stop the goods in transit
B) right to resell the goods
C) right to retain
D) all of these
E) none of these
  • 47. It may be done by adding the phrase "without recourse" or word of similar import.

    a

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