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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) both bonds and stocks
B) none of these
C) Stock
D) bonds
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) credit unions
B) none of these
C) pawnshops
D) banks
E) retail stores
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) true
B) none of these
C) false
D) neither true nor false
E) both true and false
  • 5. A personal Cheque is one which_________
A) One which is belongs to a person alone
B) none of these
C) The drawee gives instructions to the drawer to pay the payee a certain amount
D) the drawer gives the drawee instructions to pay the payee a certain amount
E) The payee gives the drawee instructions to pay the drawer a certain amount
  • 6. How many kinds of check?
A) none of these
B) 10
C) 16
D) 9
E) 12
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) none of these
B) commercial credit instrument
C) open check
D) post dated check
E) bouncing check
  • 8. The sources of credit are classified into
A) none of these
B) 18
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) P50.00
C) NONE OF THESE
D) P35.50
E) P44.27
  • 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) P10,710
D) ALL OF THESE
E) P31,765
  • 11. It is the party entitled to receive payment.
A) payor
B) payee
C) drawee
D) drawer
E) none of these
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) sales finance companies
B) all of these
C) saving and mortgage banks
D) none of these
E) saving and loans associations
  • 13. How many kinds of stock?
A) 5
B) 4
C) 2
D) 6
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) commercial credit instruments
B) investment credit instrument
C) all of these
D) none of these
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) none of these
B) blank endorsement
C) restrictive endorsement
D) special 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) retail stores
B) personal loans
C) none of these
D) private individuals
E) credit unions
  • 17. Endorsement are classified into______.
A) none of these
B) 4
C) 6
D) 5
E) 8
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) none of these
B) indorser
C) holder
D) acceptor
E) indorsee
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) crossed check
B) open check
C) certified check
D) none of these
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) stocks
B) none of these
C) neither bonds nor stocks
D) both bonds and stocks
E) bonds
  • 21. Possesses a negotiable instrument issued or indorsed to that person order or bearer.
A) indorsee
B) none of these
C) acceptor
D) holder
E) indorser
  • 22. It is the financial institution that pays check presented for payment.
A) payer
B) drawer
C) payee
D) drawee
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) P2.456.00
B) P1,500
C) P7,750
D) ALL OF THESE
E) NONE OF THESE
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) demand draft
B) bank draft
C) none of these
D) time 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) P151.35
B) none of these
C) all of these
D) P25.40
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) none of these
B) overdraft check
C) certified check
D) bouncing check
E) stale dated check
  • 27. Interest earning savings deposit account from which a withdrawal is made by means of a check as a______.
A) none of these
B) saving deposits
C) time deposits
D) demand deposits
E) NOW deposits
  • 28. The following are examples of guidelines in accepting check for payment, except;
A) all of these
B) amount in words must tally with amount in figures
C) it must be signed by the drawer
D) none of these
E) payee must be the name of the company (corporate account)
  • 29. These companies are both mutual and stockholder-owned.
A) saving and mortgage banks
B) insurance companies
C) saving and loan associations
D) mutual saving banks
E) none of these
  • 30. The following are example of instruments characteristics except;
A) payable to order
B) payable on demand
C) none of these
D) payable at future time
E) payable to bearer
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) none of these
B) all of these
C) investment credit instrument
D) bank credit instrument
E) commercial credit instrument
  • 32. it is the part of check, that written out using word instead of number.
A) none of these
B) banks fractional number
C) account number
D) pesos box
E) payee line
  • 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) insured
D) non -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) Traveller's check
B) open check
C) post dated check
D) crossed check
  • 35. Prohibits further negotiation of the check when is in favor of a particular person only.
A) special endorsement
B) none of these
C) bank endorsement
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) rural banks
D) none of these
E) commercial 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) pawnshop
C) pension funds
D) retail store
E) none of these
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) promissory notes
B) bank draft
C) check
D) none of these
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) sight draft
B) none of these
C) time draft
D) bank draft
E) demand 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) blank endorsement
E) none of these
  • 41. They usually do not required collateral but charge higher interest rates
A) credit unions
B) none of these
C) retail stores
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) saving and mortgages banks
B) insurance companies
C) mutual saving banks
D) none of these
E) all of these
  • 43. This is an instrument that has the word "certified or good for payment; stamped on its face.
A) crossed check
B) none of these
C) post dated check
D) certified check
E) Overdraft 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) mutual saving banks
C) saving and loans association
D) saving and mortgage loans
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) none of these
B) stale dated check
C) open check
D) traveler's check
E) bouncing check
  • 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) qualified endorsement
B) none of these
C) blank endorsement
D) restrictive endorsement
E) special 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) 90 DAYS
B) NONE OF THESE
C) 100 DAYS
D) 21 DAYS
E) 50 DAYS
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) insurance companies
B) pawnshop
C) banks
D) none of these
E) sales finance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) post dated check
B) none of these
C) crossed check
D) open check
  • 51. refers to the owner of account who sign the check.
A) none of these
B) drawee
C) payee
D) drawer
E) payer
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) neither bonds nor stocks
B) none of these
C) both bonds and stocks
D) stocks
E) bonds
  • 53. It is safer to bring along checks for large payment rather than cash.
A) all of these
B) odd amount
C) safety and convenience
D) stop payment
E) none of these
  • 54. it is the part of check, tells about the account owner.
A) payee line
B) memo line
C) none of these
D) person information
E) account number
  • 55. The person to whom the check is written.
A) payee
B) drawee
C) payer
D) drawer
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) none of these
B) neither preferred nor common stocks
C) 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) qualified endorsement
B) none of these
C) special endorsement
D) blank endorsement
E) restrictive endorsement
  • 58. Credit instrument are classified into______.
A) 6
B) 2
C) 4
D) none of these
E) 10
  • 59. Pension funds may be_______.
A) insured
B) non-insured
C) none of these
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) none of these
B) acceptor
C) indorsee
D) indorser
E) holder
  • 61. It is the signature of payee on the back of negotiable instrument.
A) endorsement
B) grantor
C) written
D) signer
E) none of these
  • 62. Checking account is legal contract between payer and payee.
A) true
B) none of these
C) maybe
D) false
E) all of these
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