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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) Stock
B) none of these
C) both bonds and stocks
D) neither bonds and stocks
E) bonds
  • 2. Drawee demand action from the drawer.
A) all of these
B) false
C) true
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) retail stores
E) credit unions
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) both true and false
B) true
C) false
D) neither true nor false
E) none of these
  • 5. A personal Cheque is one which_________
A) the drawer gives the drawee instructions to pay the payee a certain amount
B) The payee gives the drawee instructions to pay the drawer a certain amount
C) none of these
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) bouncing check
C) post dated check
D) none of these
E) commercial credit instrument
  • 8. The sources of credit are classified into
A) 18
B) none of these
C) 8
D) 10
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) P44.27
C) P50.00
D) P35.50
E) NONE OF THESE
  • 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) P31,765
C) P10,710
D) ALL OF THESE
E) NONE OF THESE
  • 11. It is the party entitled to receive payment.
A) drawee
B) payee
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) all of these
C) none of these
D) sales finance companies
E) saving and mortgage banks
  • 13. How many kinds of stock?
A) 6
B) 2
C) 4
D) 5
  • 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) all of these
D) none of these
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) blank endorsement
B) special endorsement
C) qualified endorsement
D) none of these
E) restrictive 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) personal loans
B) none of these
C) retail stores
D) private individuals
E) credit unions
  • 17. Endorsement are classified into______.
A) none of these
B) 8
C) 5
D) 6
E) 4
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) none of these
B) indorsee
C) holder
D) indorser
E) acceptor
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) open check
B) none of these
C) post dated check
D) certified 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) both bonds and stocks
B) none of these
C) stocks
D) neither bonds nor stocks
E) bonds
  • 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) drawee
C) none of these
D) payee
E) payer
  • 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) P7,750
D) NONE OF THESE
E) P1,500
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) sight draft
B) bank draft
C) time draft
D) none of these
E) demand 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) P25.40
C) all of these
D) none of these
E) P45.60
  • 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) certified 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) saving deposits
B) time deposits
C) NOW deposits
D) demand 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) it must be signed by the drawer
C) amount in words must tally with amount in figures
D) none of these
E) all of these
  • 29. These companies are both mutual and stockholder-owned.
A) saving and mortgage banks
B) insurance companies
C) mutual saving banks
D) saving and loan associations
E) none of these
  • 30. The following are example of instruments characteristics except;
A) payable on demand
B) payable at future time
C) payable to bearer
D) payable to order
E) none of these
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) none of these
B) bank credit instrument
C) all of these
D) investment credit instrument
E) commercial credit instrument
  • 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) none of these
E) account number
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) none of these
B) neither insured nor insured
C) non -insured
D) insured
E) either insured or non-insured
  • 34. What checks that you buy at a bank and take with You you when you in a travel?
A) post dated check
B) open check
C) Traveller's check
D) crossed check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) bank endorsement
B) special 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) investment banks
B) none of these
C) saving banks
D) commercial banks
E) rural banks
  • 37. These banks pay at their profit to savers in interes dividends or retail as a reserve cushion against loss.
A) retail store
B) pawnshop
C) none of these
D) pension funds
E) mutual saving banks
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) promissory notes
B) bank deposits
C) none of these
D) check
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) bank draft
B) time draft
C) sight draft
D) none of these
E) demand draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) qualified endorsement
B) none of these
C) restrictive endorsement
D) blank endorsement
E) special endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) private individuals
B) none of these
C) credit unions
D) retail stores
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) none of these
B) all of these
C) insurance companies
D) saving and mortgages banks
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) 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) none of these
B) saving and mortgage loans
C) mutual saving banks
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) open check
B) none of these
C) traveler's check
D) stale dated check
E) bouncing check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) right to retain
B) right to stop the goods in transit
C) all of these
D) none of these
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) qualified endorsement
B) blank endorsement
C) special 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) NONE OF THESE
B) 50 DAYS
C) 21 DAYS
D) 90 DAYS
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) banks
C) pawnshop
D) sales finance companies
E) none of these
  • 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) drawee
B) payer
C) drawer
D) none of these
E) payee
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) bonds
B) none of these
C) stocks
D) both bonds and stocks
E) neither bonds nor stocks
  • 53. It is safer to bring along checks for large payment rather than cash.
A) none of these
B) stop payment
C) all of these
D) safety and convenience
E) odd amount
  • 54. it is the part of check, tells about the account owner.
A) person information
B) memo line
C) none of these
D) account number
E) payee line
  • 55. The person to whom the check is written.
A) payee
B) none of these
C) drawer
D) payer
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) none of these
B) common stocks
C) preferred stocks
D) both preferred and common stocks
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) special endorsement
B) restrictive endorsement
C) none of these
D) qualified endorsement
E) blank endorsement
  • 58. Credit instrument are classified into______.
A) none of these
B) 2
C) 4
D) 10
E) 6
  • 59. Pension funds may be_______.
A) none of these
B) insured
C) non-insured
D) Both insured and 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) indorser
B) acceptor
C) none of these
D) holder
E) indorsee
  • 61. It is the signature of payee on the back of negotiable instrument.
A) endorsement
B) none of these
C) grantor
D) signer
E) written
  • 62. Checking account is legal contract between payer and payee.
A) all of these
B) false
C) none of these
D) maybe
E) true
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