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finap6 - Quiz
  • 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) bonds
D) neither bonds and stocks
E) both bonds and stocks
  • 2. Drawee demand action from the drawer.
A) false
B) all of these
C) true
D) maybe
  • 3. These are mutual institution whose members have some common bonds, such as employment in the same company.
A) banks
B) credit unions
C) none of these
D) pawnshops
E) retail stores
  • 4. Banks Deposits" express a promise to pay a definite sum of money at a future date
A) false
B) neither true nor false
C) both true and false
D) none of these
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) 16
B) 10
C) 12
D) none of these
E) 9
  • 7. The depositor can be charge with crime of estafa for drawing a check without any deposits.
A) open check
B) none of these
C) commercial credit instrument
D) post dated check
E) bouncing check
  • 8. The sources of credit are classified into
A) none of these
B) 15
C) 10
D) 18
E) 8
  • 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) P44.27
C) P50.00
D) P125.50
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) NONE OF THESE
B) ALL OF THESE
C) P12,453.50
D) P10,710
E) P31,765
  • 11. It is the party entitled to receive payment.
A) none of these
B) payee
C) payor
D) drawer
E) drawee
  • 12. Sometimes called building and loans associations which sell financial services to the public and invest the fund acquired.
A) saving and mortgage banks
B) saving and loans associations
C) sales finance companies
D) all of these
E) none of these
  • 13. How many kinds of stock?
A) 4
B) 6
C) 2
D) 5
  • 14. Are those earn income in the form of dividends or interest such as stocks and bonds.
A) commercial credit instruments
B) all of these
C) investment credit instrument
D) none of these
  • 15. It is an endorsement that passes title to a negotiable instrument with certain restriction.
A) special endorsement
B) blank 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) credit unions
B) private individuals
C) retail stores
D) personal loans
E) none of these
  • 17. Endorsement are classified into______.
A) 5
B) 8
C) 4
D) none of these
E) 6
  • 18. A person to whom a negotiable instrument is transferred by indorsement
A) indorser
B) indorsee
C) holder
D) none of these
E) acceptor
  • 19. This is characterized by two parallel lines on the upper left-hand corner
A) open check
B) none of these
C) crossed check
D) post dated check
E) certified 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) acceptor
C) holder
D) none of these
E) indorser
  • 22. It is the financial institution that pays check presented for payment.
A) payer
B) drawee
C) none of these
D) drawer
E) payee
  • 23. A 5 months note with a face value at P7,500 bears interest at 8%. Find the Maturity Date.
A) P7,750
B) NONE OF THESE
C) ALL OF THESE
D) P2.456.00
E) P1,500
  • 24. It is payable on demand that is as soon as the importer's receive it.
A) none of these
B) sight draft
C) bank draft
D) time draft
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) all of these
C) P25.40
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) certified check
B) overdraft check
C) stale dated check
D) bouncing 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) time deposits
B) saving deposits
C) none of these
D) NOW deposits
E) demand deposits
  • 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) all of these
D) amount in words must tally with amount in figures
E) none 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) insurance companies
E) saving and mortgage banks
  • 30. The following are example of instruments characteristics except;
A) payable to bearer
B) payable on demand
C) payable at future time
D) none of these
E) payable to order
  • 31. These are promissory notes, check, bills of exchange bank draft and bank deposits.
A) bank credit instrument
B) all of these
C) commercial credit instrument
D) investment credit instrument
E) none of these
  • 32. it is the part of check, that written out using word instead of number.
A) pesos box
B) account number
C) banks fractional number
D) none of these
E) payee line
  • 33. ______funds have a wider range of the types You of assets they may acquire.
A) insured
B) neither insured nor insured
C) either insured or non-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) 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) none of these
B) bank endorsement
C) qualified endorsement
D) Restrictive endorsement
E) special endorsement
  • 36. A_____ is any corporation which accepts or creates demand deposits subject to withdrawal by check.
A) commercial banks
B) investment banks
C) none of these
D) saving 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) mutual saving banks
B) pension funds
C) none of these
D) pawnshop
E) retail store
  • 38. It is a written order drawn by a depositor upon a bank to pay on demand.
A) check
B) none of these
C) promissory notes
D) bank deposits
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) demand draft
B) none of these
C) time draft
D) bank draft
E) sight draft
  • 40. It is an endorsement that can be cashed by anyone who hold the check.
A) none of these
B) special endorsement
C) blank endorsement
D) restrictive endorsement
E) qualified endorsement
  • 41. They usually do not required collateral but charge higher interest rates
A) personal loans
B) credit unions
C) none of these
D) retail stores
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) none of these
B) all of these
C) insurance companies
D) mutual saving banks
E) saving and mortgages banks
  • 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) none of these
D) certified 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 loans association
C) saving and mortgage loans
D) Bonds and money market funds
E) mutual saving banks
  • 45. This check has date on its face or date of payment encashment that is more than 6 month old.
A) stale dated check
B) none of these
C) traveler's check
D) open check
E) bouncing check
  • 46. unpaid seller" is entitled to any of the following rights, except;
A) all of these
B) none of these
C) right to retain
D) right to stop the goods in transit
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) blank endorsement
B) none of these
C) special 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) 90 DAYS
B) 100 DAYS
C) 50 DAYS
D) 21 DAYS
E) NONE OF THESE
  • 49. These includes sales and personal finance companies which makes loans to individual for the purpose of buying automobiles.
A) pawnshop
B) insurance companies
C) none of these
D) banks
E) sales finance companies
  • 50. This instrument does not required presentation through a payee's banking account.
A) open check
B) post dated check
C) none of these
D) crossed check
  • 51. refers to the owner of account who sign the check.
A) payer
B) drawee
C) drawer
D) none of these
E) payee
  • 52. They represents an indebtedness on the part of the issuing corporation.
A) none of these
B) stocks
C) both bonds and stocks
D) neither bonds nor stocks
E) bonds
  • 53. It is safer to bring along checks for large payment rather than cash.
A) safety and convenience
B) stop payment
C) none of these
D) all of these
E) odd amount
  • 54. it is the part of check, tells about the account owner.
A) payee line
B) none of these
C) memo line
D) account number
E) person information
  • 55. The person to whom the check is written.
A) none of these
B) drawee
C) payer
D) drawer
E) payee
  • 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) both preferred and common stocks
B) preferred stocks
C) common stocks
D) neither preferred nor 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) qualified endorsement
B) special endorsement
C) none of these
D) restrictive endorsement
E) blank endorsement
  • 58. Credit instrument are classified into______.
A) 10
B) 4
C) 6
D) 2
E) none of these
  • 59. Pension funds may be_______.
A) insured
B) non-insured
C) neither insured nor 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) acceptor
B) holder
C) indorser
D) none of these
E) indorsee
  • 61. It is the signature of payee on the back of negotiable instrument.
A) none of these
B) written
C) signer
D) grantor
E) endorsement
  • 62. Checking account is legal contract between payer and payee.
A) true
B) none of these
C) maybe
D) all of these
E) false
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