Clearing Cycle

Description

The objective of this exam is to measure your understanding on the check/clearing cycle.
monicalao
Quiz by monicalao, updated more than 1 year ago
monicalao
Created by monicalao almost 10 years ago
18
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Resource summary

Question 1

Question
Out of town checks becomes clear after 5 days.
Answer
  • True
  • False

Question 2

Question
BRSTN is located at the:
Answer
  • lower right of the check
  • lower left of the check
  • upper right of the check
  • upper left of the check

Question 3

Question
Who is the drawer of the check?
Answer
  • Michael dela Cruz
  • Filtrepreneur Franchise Inc

Question 4

Question
I deposited the BPI check I issued amounting to P400,000 to his EWB account. Who is the presenting bank?
Answer
  • BPI
  • EWB

Question 5

Question
Drawee bank has to inform the drawer for any returned check
Answer
  • True
  • False

Question 6

Question
Presenting bank has to inform the depositor for any returned check.
Answer
  • True
  • False

Question 7

Question
How many times can we deposit a check?
Answer
  • one
  • three
  • four
  • two

Question 8

Question
How many months does it take for a check to be considered as stale?
Answer
  • eight months
  • six months
  • three months

Question 9

Question
When can I deposit the check? (Select all applicable answers)
Answer
  • September 25, 2012
  • September 24, 2012
  • October 1, 2013
  • January 1, 2013
  • December 28, 2012
  • March 1, 2012

Question 10

Question
Can Veronica encash the check?
Answer
  • True
  • False

Question 11

Question
Who is the drawee?
Answer
  • BPI
  • Philcomsat Holdings Corporation
  • Luis K. Lokin, Jr.
  • Veronica Nepomuceno

Question 12

Question
What is the account number?
Answer
  • 0000309381
  • 010041897
  • 3763010529
  • 112

Question 13

Question
What is the check number?
Answer
  • 0000309381
  • 010041897
  • 3763010529
  • 112

Question 14

Question
BPI is the presenting bank
Answer
  • True
  • False

Question 15

Question
Banks can still forward physical checks to PCHC even if it's already 5:45pm, at a cost of P10,000.
Answer
  • True
  • False

Question 16

Question
I issued a check amounting to P143,685,000.00 yesterday. My available balance as of yesterday was only P143,000,000.00. Compute for the RCOCI charges.
Answer
  • 3,575
  • 715,000
  • 4,575
  • 716,000
  • 3,592
  • 718,400
  • 718,600
  • 719,400
  • 719,600
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