LONG QUIZ: PRINCIPLES OF MONEY, CREDIT AND BANKING

NAME, YEAR, & SECTION:

I. IDENTIFICATION (30 POINTS)

1. A check recognized by the presence of two parallel lines on the left

2. A post-dated check has a __________.
3. A check wherein the date on the face against the date of encashment exceeds six months
4. A check which requires a deposit to payee’s account
5. A check which does not require presentation for deposit to a payee’s account
6. Checks drawn by a bank for the same bank, signed by either of the two offices of the bank,
7. requiring payment to a party designated by the depositor
8. A check purchased from a bank that can be payable anywhere during client’s tour
9. A check drawn against insufficient funds
10. A check drawn by a depositor to a bank to pay a specified third party a sum of money at a future
time
11. A check drawn by a depositor to a bank to pay on demand the third party a sum of money at a
future time
12. A check which specifies payee’s name
13. The party issuing a check
14. A check payable to cash
15. The party who will receive payment in a check
16. Stocks with voting rights
17. Written order drawn by a depositor or company upon a bank directing to pay on demand a
specified sum of money to bearer or order
18. Written order drawn by one bank to another bank directing it to pay the third party a sum of
money at a future time
19. Stocks with rights to a fixed dividends
20. Instruments which are substitutes for cash during business transactions
21. Creditor In legal action for unpaid obligation
22. Refers to the endorsement when instrument is payable to order
23. Third party appointed by court who has the right to hold, control, and dispose of property of
debtor
24. Refers to the endorsement when instrument is payable to bearer
25. Debtor in the legal action for unpaid obligation
26. Right of the unpaid seller when he has parted with the perishable goods to stop them in transit
due to insolvency of the buyer
27. Party appointed by court who has the right to hold and control property of the debtor
28. Signature of the payee on the back of the negotiable instrument
29. Right of creditor to repossess an item for unpaid obligation
30. Right of the debtor to voluntarily settle his obligation

II. DRAW ME CHECK (10 POINTS)

The following are the parties to a check that has a face value of One Hundred Twenty Thousand Pesos and Twelve Centavos:
Ms. ABC - Payee
Ms. DEF - Drawer
GHI - Drawee Bank

You are the new holder (student name). With the current date the following instrument:
1. OPEN CHECK