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) Stock
B) both bonds and stocks
C) bonds
D) none of these
E) neither bonds and stocks
  • 2. Drawee demand action from the drawer.
A) all of these
B) maybe
C) true
D) false
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) pawnshops
B) none of these
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) false
B) both true and false
C) none of these
D) neither true nor false
E) true
  • 5. A personal Cheque is one which_________
A) none of these
B) the drawer gives the drawee instructions to pay the payee a certain amount
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 drawee gives instructions to the drawer to pay the payee a certain amount
  • 6. How many kinds of check?
A) none of these
B) 16
C) 10
D) 12
E) 9
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) commercial credit instrument
B) none of these
C) post dated check
D) bouncing check
E) open check
  • 8. The sources of credit are classified into
A) 10
B) 8
C) none of these
D) 15
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) P35.50
B) P125.50
C) P44.27
D) NONE OF THESE
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) P12,453.50
B) NONE OF THESE
C) P31,765
D) ALL OF THESE
E) P10,710
  • 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) all of these
B) saving and mortgage banks
C) saving and loans associations
D) sales finance companies
E) none of these
  • 13. How many kinds of stock?
A) 5
B) 2
C) 6
D) 4
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) all of these
B) investment credit instrument
C) none of these
D) commercial credit instruments
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) none of these
B) restrictive endorsement
C) qualified endorsement
D) blank 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) credit unions
E) retail stores
  • 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) indorser
B) none of these
C) indorsee
D) holder
E) acceptor
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) crossed check
B) open check
C) post dated check
D) certified 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) stocks
B) bonds
C) both bonds and 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) indorsee
B) holder
C) indorser
D) acceptor
E) none of these
  • 22. It is the financial institution that pays check presented for payment.
A) none of these
B) payer
C) drawer
D) payee
E) drawee
  • 23. A 5 months note with a face value at P7,500 bears interest at 8%. Find the Maturity Date.
A) NONE OF THESE
B) P1,500
C) P2.456.00
D) ALL OF THESE
E) P7,750
  • 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) bank draft
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) P25.40
B) P151.35
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) stale dated check
B) bouncing check
C) none of these
D) certified check
E) overdraft check
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) time deposits
B) demand deposits
C) saving deposits
D) none of these
E) NOW deposits
  • 28. The following are examples of guidelines in accepting check for payment, except;
A) amount in words must tally with amount in figures
B) none of these
C) payee must be the name of the company (corporate account)
D) it must be signed by the drawer
E) all of these
  • 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) none of these
B) payable on demand
C) payable at future time
D) payable to order
E) payable to bearer
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) all of these
B) commercial credit instrument
C) investment credit instrument
D) bank credit instrument
E) none of these
  • 32. it is the part of check, that written out using word instead of number.
A) account number
B) payee line
C) pesos box
D) none of these
E) banks fractional 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) either insured or non-insured
D) insured
E) 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) crossed check
C) open check
D) Traveller's 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) Restrictive endorsement
D) qualified endorsement
E) bank endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) commercial banks
B) none of these
C) rural banks
D) saving 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) none of these
C) pension funds
D) retail store
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) bank draft
D) promissory notes
E) check
  • 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) sight draft
C) time draft
D) demand draft
E) bank draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) special endorsement
B) none of these
C) qualified endorsement
D) blank endorsement
E) restrictive endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) retail stores
B) personal loans
C) private individuals
D) none of these
E) credit unions
  • 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) Overdraft check
B) crossed check
C) certified check
D) post dated 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) none of these
C) saving and mortgage loans
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) stale dated check
C) bouncing check
D) open 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) right to stop the goods in transit
D) right to resell the goods
E) all of these
  • 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) 21 DAYS
B) NONE OF THESE
C) 90 DAYS
D) 100 DAYS
E) 50 DAYS
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) banks
B) pawnshop
C) none of these
D) sales finance companies
E) insurance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) none of these
B) crossed check
C) post dated check
D) open check
  • 51. refers to the owner of account who sign the check.
A) payee
B) drawee
C) payer
D) none of these
E) drawer
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) neither bonds nor stocks
B) both bonds and stocks
C) bonds
D) stocks
E) none of these
  • 53. It is safer to bring along checks for large payment rather than cash.
A) odd amount
B) safety and convenience
C) all of these
D) none of these
E) stop payment
  • 54. it is the part of check, tells about the account owner.
A) person information
B) payee line
C) memo line
D) account number
E) none of these
  • 55. The person to whom the check is written.
A) drawer
B) payee
C) payer
D) drawee
E) none of these
  • 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) preferred stocks
B) none of these
C) neither preferred nor common stocks
D) common stocks
E) both preferred and 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) restrictive endorsement
C) none of these
D) blank endorsement
E) special endorsement
  • 58. Credit instrument are classified into______.
A) 2
B) 10
C) 6
D) none of these
E) 4
  • 59. Pension funds may be_______.
A) insured
B) non-insured
C) Both insured and non-insured
D) none of these
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) indorsee
B) indorser
C) holder
D) none of these
E) acceptor
  • 61. It is the signature of payee on the back of negotiable instrument.
A) endorsement
B) signer
C) written
D) grantor
E) none of these
  • 62. Checking account is legal contract between payer and payee.
A) all of these
B) false
C) none of these
D) true
E) maybe
Created with That Quiz — where test making and test taking are made easy for math and other subject areas.