Republic of the Philippines

Department of Education
Region III (Central Luzon)
Schools Division of Tarlac Province
Quezon National High School-300981
Quezon, Gerona, Tarlac

General Mathematics
2nd SUMMATIVE TEST
NAME: _____________________________________ SCORE: __________________
SECTION: ____________________ DATE: ___________________
I. Encircle the letter of the correct answer.

1. What is referred to as a fixed sum of money paid to someone at regular intervals, subject to a
fixed compound interest rate?
a. Compound interest c. simple annuity
b. Annuity d. annuity certain
2. What type of annuity is illustrated when the interest conversion or compounding period is equal or
the same as the payment interval?
a. Annuity certain c. simple interest
b. Annuity certain d. general annuity
3. What type of annuity is illustrated when the interest conversion or compounding period is unequal or
not the same as the payment?
a. Annuity certain c. simple interest
b. Annuity certain d. general annuity
4. What do you call the fixed payment and interest over a specified time?
a. Annuity payment c. due payment
b. Interest payment d. general payment
5. Which is an example of annuities?
a. Interest c. bills
b. Rent d. savings
6. What do you call the type of annuity in which the payments are made at the end of each payment
interval?
a. annuity certain c. ordinary annuity
b. contingent annuity d. general annuity

7. What do you call to the type of annuity which payments begin and end at definite times?
a. contingent annuity c. simple annuity
b. ordinary annuity d. annuity certain
8. What do you call the type of annuity in which the payments extend over an indefinite length of
time?
a. contingent annuity c. ordinary annuity
b. general annuity d. annuity certain
9. A payment made at the end of each month for money borrowed that charges 1.05% interest
compounded quarterly. What type of annuities is being represented?
a. simple c. general
b. ordinary d. annuity due
10. What type of annuity is represented by a deposit of ₱ 6,000.00 that is made at the end of every
three months to an account that earns 5.6% interest compounded quarterly?
a. simple c. general
b. ordinary d. annuity due
11. Which of the following situations is an example of a simple annuity?
a. P2,000 deposited every six months for 2 years at 8% per year compounded monthly
b. P2,000 deposited every months for 2 years at 8% per year compounded annually
c. P2,000 deposited every months for 2 years at 8% per year compounded monthly
d. P2,000 deposited every quarter for 2 years at 8% per year compounded monthly
12. Installment payment for an appliance at the beginning of each month with
interest compounded monthly is an example of what type of annuity?
a. General Annuity c. ordinary annuity
b. Simple Annuity d. annuity due
13. Which is NOT an example of Annuity?
a. House and Lot payment c. life insurance
b. Tuition Fee d. installment basis of paying a car
14. What is the sum of present values of all the payments to be made during the
entire term of the annuity?
a. Present Value of an Annuity c. periodic payment
b. Future Value of an Annuity d. term of an annuity
15. What is the time between the first payment interval and last payment interval?
a. Periodic Payment c. payment interval
b. Term of an Annuity d. present value of an annuity
16. What is the amount of each payment?
a. Future Value of an Annuity c. present value of annuity
b. Periodic Payment d. term of an annuity
17. What is the sum of future values of all the payments to be made during the entire term
of the annuity?
a. Periodic Payment c. present value of an annuity
b. Payment Interval d. future value of an annuity

For item numbers 18-19, refer to the following:

Suppose you would like to save ₱ 1,500 at the end of each month, for a year, in a bank that
gives 2.5% compounded monthly.

18. What type of annuity is present in the situation above?

a. Simple Annuity Due c. simple annuity immediate
b. General Annuity Due d. general annuity immediate
19. What is the interest rate per annum in decimal form?
a. 2.5 c. 0.025
b. 0.25 d. 0.0025
20. It is used to describe the ownership certificates of any company and is also known as
shares and equity.
a. bond b. stock c. stockbroker d. commission
21. A business formed to manufacture or supply products or services for profit.
a. stock b. stock c. company d. bond
22. An activity in which money is put at risk for the purpose of making a profit.
a. Invest b. buy c. sell d. collect
23. What is a bond’s coupon?
a. the purchase price of a bond
b. the interest earned to be paid by the bond issuer
c. the value of a bond at its issue date
d. the value of a bond at its maturity date
24. It is a proposition that uses logical connectors.
a. simple proposition c. compound proposition
b. logical proposition d. connective proposition
25. Which of the following is not a logical connector?
a. or c. and
b. can d. if-then

Prepared by:

MICHAELLE J. BUNAO
T-II Checked by:

WILLY Q. MAMARADLO
Principal I