Fin 5 Summer Online Final Exam
(16).webp "Fin 5 Summer Online Final Exam - Quiz")
Questions and Answers
- 1.
A time deposit is otherwise known as term deposit or certificates of deposit.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
A time deposit, also referred to as a term deposit or certificates of deposit, is a financial product offered by banks and financial institutions where the depositor agrees to keep their funds deposited for a fixed period of time, usually at a higher interest rate than a regular savings account. Therefore, the statement that a time deposit is otherwise known as a term deposit or certificates of deposit is true.Rate this question:
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- 2.
Defalcation is the act of someone wrongfully appropriating funds that have been entrusted to this care but which are owned by someone else.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Defalcation is the act of someone wrongfully appropriating funds that have been entrusted to their care but which are owned by someone else. Therefore, the given statement is true.Rate this question:
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- 3.
A testamentary trust is a type of trust created during a person's lifetime. It's designed to allow for the easy transfer of the trust creator or settlor's assets, while bypassing the often complex and expensive legal process of probate.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
A testamentary trust is actually a type of trust that is created after a person's death, not during their lifetime. It is established through a person's will and takes effect upon their death. The purpose of a testamentary trust is to ensure that the assets of the deceased are managed and distributed according to their wishes, while also providing protection and benefits for the beneficiaries. Unlike a trust created during a person's lifetime, a testamentary trust does go through the probate process, which can be complex and expensive.Rate this question:
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- 4.
The Securities and Exchange Commission shall not register the articles of incorporation and by-laws or any amendment thereto, of any trust entity, unless accompanied by a certificate of authority issued by the Bangko Sentral.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement is true. According to the Securities and Exchange Commission, they will not register the articles of incorporation and by-laws or any amendment of any trust entity unless it is accompanied by a certificate of authority issued by the Bangko Sentral. This means that a trust entity must have the necessary authorization from the Bangko Sentral before its articles of incorporation and by-laws can be registered with the Securities and Exchange Commission.Rate this question:
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- 5.
Revocable trusts are often referred to as "living" trusts. With a revocable trust, the person who created the trust, called the "grantor" or "donor," maintains complete control over the trust and may amend, revoke or terminate the trust at any time.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
A revocable trust is indeed often referred to as a "living" trust because the person who created the trust, known as the "grantor" or "donor," retains full control over the trust. This means that the grantor has the ability to make changes to the trust, revoke it entirely, or terminate it at any point in time. Therefore, the statement "Revocable trusts are often referred to as 'living' trusts" is true.Rate this question:
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- 6.
A commercial bank may own up to 50% of the equity of a non-financial allied enterprise.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
A commercial bank may own equity in a non-financial allied enterprise, but it cannot own up to 50% of the equity. This statement is false because commercial banks are subject to regulations and restrictions on their ownership stakes in non-financial allied enterprises. The ownership limit is typically much lower than 50% to ensure that banks do not have excessive control or influence over these enterprises.Rate this question:
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- 7.
Bank losses due to theft, fire, closure by reason of strike or existence of public disorder, revolution or civil war, are also covered by PDIC.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because the Philippine Deposit Insurance Corporation (PDIC) provides coverage for bank losses caused by theft, fire, closure due to strike, public disorder, revolution, or civil war. This means that if a bank experiences any of these events and incurs losses as a result, the PDIC will provide insurance coverage to depositors and help compensate for their losses.Rate this question:
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- 8.
The PDIC Charter provides that a Philippine bank may elect to insure with the PDIC its deposits in branches outside the Philippines
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The PDIC Charter allows Philippine banks to choose to insure their deposits in branches located outside of the Philippines. This means that if a Philippine bank has branches in other countries, it has the option to protect the deposits in those branches by obtaining insurance from the PDIC. This provision ensures that depositors' funds are safeguarded, regardless of the location of the bank's branches.Rate this question:
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- 9.
The World Bank, International Monetary Fund IMF, and the regional development banks are the largest source of development finance in the world.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because the World Bank, International Monetary Fund (IMF), and regional development banks are indeed the largest source of development finance in the world. These organizations provide loans, grants, and technical assistance to developing countries for various development projects, such as infrastructure development, poverty reduction, and economic growth. Their financial resources and expertise make them crucial players in promoting sustainable development and addressing global challenges.Rate this question:
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- 10.
Headquartered in Basel, Switzerland, Founded in the 1930s, the Bank for International Settlements (BIS), is a bank for central banks.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The given statement is true. The Bank for International Settlements (BIS) is indeed headquartered in Basel, Switzerland and was founded in the 1930s. It serves as a bank for central banks, providing a platform for central banks to exchange information and collaborate on financial and monetary matters.Rate this question:
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- 11.
As to management, banks may either be any of the following except
- A.
Unit banking
- B.
Investment banking
- C.
Group banking
- D.
Branch banking
Correct Answer
B. Investment bankingExplanation
Investment banking is not considered a type of management in the banking industry. Unit banking, group banking, and branch banking are all different management structures that banks can adopt. Unit banking refers to a system where a single bank operates independently without any branches or affiliations. Group banking involves multiple banks coming together to form a larger entity, while branch banking involves a central bank with multiple branches. However, investment banking is a specialized sector that focuses on providing financial services such as underwriting, mergers and acquisitions, and securities trading, rather than managing the overall operations of a bank.Rate this question:
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- 12.
Identify which of the following is a financial allied undertaking.
- A.
Forex Brokerage
- B.
Warehouses
- C.
Storage Firms
- D.
Safe Deposit Box Companies
Correct Answer
A. Forex BrokerageExplanation
A financial allied undertaking refers to a business or organization that is related to the financial industry. Forex Brokerage is a correct answer because it is a type of financial institution that facilitates the trading of foreign currencies. Forex brokers provide platforms for individuals and businesses to buy and sell different currencies, and they earn revenue through spreads or commissions. Therefore, Forex Brokerage fits the definition of a financial allied undertaking.Rate this question:
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- 13.
Which account represents notes and coins held by the bank to meet depositors’ withdrawals and other normal cash needs?
- A.
Cash on Hand
- B.
Other Cash Resources
- C.
Other Assets
- D.
Other Cash Items
Correct Answer
A. Cash on HandExplanation
Cash on Hand represents the notes and coins held by the bank to meet depositors' withdrawals and other normal cash needs. This account includes physical cash that is readily available within the bank's premises for immediate use. It is an important asset for the bank as it ensures liquidity and the ability to fulfill customer demands for cash withdrawals.Rate this question:
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- 14.
The ________________serves as the Vice Chairman of the PDIC Board of Directors.
- A.
BSP Governor
- B.
PDIC President
- C.
SEC Commissioner
- D.
Finance Secretary
Correct Answer
B. PDIC PresidentExplanation
The PDIC President serves as the Vice Chairman of the PDIC Board of Directors. This means that the person in this position holds both the role of President and Vice Chairman within the organization.Rate this question:
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- 15.
The PDIC provides the maximum deposit insurance coverage of ____________ pesos per depositor per bank.
- A.
500,000
- B.
250,000
- C.
1,000,000
- D.
750,000
Correct Answer
A. 500,000Explanation
The PDIC provides a maximum deposit insurance coverage of 500,000 pesos per depositor per bank. This means that if an individual has deposits in a bank and the bank fails, the PDIC will insure up to 500,000 pesos of their deposits. This coverage helps protect depositors in case of bank failure and provides a sense of security for their savings.Rate this question:
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- 16.
Which of the following takes over banks ordered closed by the Monetary Board; administers closed banks’ assets, records and affairs; and preserves and disposes these assets for the benefit of the creditors and uninsured depositors.
- A.
Bangko Sentral ng Pilipinas
- B.
Philippine Deposit Insurance Corporation
- C.
Bureau of Internal Revenue
- D.
Securities and Exchange Commission
Correct Answer
B. Philippine Deposit Insurance CorporationExplanation
The Philippine Deposit Insurance Corporation takes over banks ordered closed by the Monetary Board, administers closed banks' assets, records, and affairs, and preserves and disposes of these assets for the benefit of the creditors and uninsured depositors. This organization acts as a safety net for depositors by providing insurance coverage for their deposits in case a bank fails.Rate this question:
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- 17.
__________ means that the owner’s select to place the asset in care, usually a bank or financial institution.
- A.
Safekeeping
- B.
Custodianship
- C.
Escrow
- D.
Embargo
Correct Answer
A. SafekeepingExplanation
Safekeeping means that the owner chooses to place the asset in the care of a bank or financial institution. This ensures that the asset is protected and secure, reducing the risk of loss or damage. The owner entrusts the custodian with the responsibility of holding and safeguarding the asset until it is needed or transferred to another party. Safekeeping is a common practice for valuable assets such as money, jewelry, important documents, or securities.Rate this question:
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- 18.
It is a trust whereby the trustor transfers his property in trust through his will and testament and this is to take effect only upon his death.
- A.
Testamentary trust
- B.
Inter vivos trust
- C.
Voluntary trust
- D.
Living trust
Correct Answer
A. Testamentary trustExplanation
A testamentary trust is created through a person's will and takes effect only after their death. This type of trust allows the trustor to transfer their property to a trustee who will manage and distribute it according to the instructions outlined in the will. It is different from other types of trusts such as inter vivos trust, voluntary trust, and living trust, which are created during the trustor's lifetime.Rate this question:
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- 19.
A commercial loan would be ____________when the proceeds would be utilized to purchase inventories which are eventually resold.
- A.
Self-liquidating
- B.
Non-self liquidating
- C.
Secured
- D.
Unsecured
Correct Answer
A. Self-liquidatingExplanation
A commercial loan would be classified as self-liquidating when the proceeds are used to purchase inventories that are eventually sold. This means that the loan will be repaid through the sale of the inventory, as the profits generated from the sales will be used to repay the loan. Therefore, the loan is considered self-liquidating as it will be paid off using the proceeds from the business activities it financed.Rate this question:
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- 20.
When a depositor does not have enough deposits with the bank and after due credit investigation, he may be allowed to draw over and above his existing deposits. This is an example of:
- A.
Overdraft line
- B.
Maximum loan commitment
- C.
Regular line of credit
- D.
Revolving credit
Correct Answer
A. Overdraft lineExplanation
When a depositor does not have enough deposits with the bank and is allowed to draw over and above his existing deposits, it is referred to as an "overdraft line." This means that the bank extends a line of credit to the depositor, allowing them to withdraw funds even if they do not have sufficient deposits in their account. The overdraft line acts as a short-term loan, providing the depositor with temporary access to additional funds.Rate this question:
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- 21.
Which one in each group does not belong with the others?
- A.
OTC Deposits
- B.
Direct Deposits
- C.
Primary Deposits
- D.
Derivative Deposits
Correct Answer
D. Derivative DepositsExplanation
The other three options, OTC Deposits, Direct Deposits, and Primary Deposits, are all types of traditional banking deposits that involve the transfer of funds directly into a bank account. Derivative Deposits, on the other hand, are not a recognized category of deposits in traditional banking. Derivatives are financial instruments that derive their value from an underlying asset or benchmark, and they are typically used for hedging or speculative purposes. Therefore, Derivative Deposits do not belong with the others as they are not a common type of banking deposit.Rate this question:
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- 22.
Which one in each group does not belong with the others?
- A.
Checking Account
- B.
Demand Deposit
- C.
Savings Account
- D.
Time Deposit
Correct Answer
D. Time DepositExplanation
The term "Time Deposit" does not belong with the others because it refers to a type of bank account where funds are deposited for a fixed period of time and cannot be withdrawn before maturity without incurring penalties. On the other hand, "Checking Account," "Demand Deposit," and "Savings Account" are all types of accounts that allow for regular deposits and withdrawals without any time restrictions.Rate this question:
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- 23.
Which one in each group does not belong with the others?
- A.
Trustee
- B.
Trust Creator
- C.
Grantor
- D.
Donor
Correct Answer
A. TrusteeExplanation
The term "Trustee" does not belong with the others because it refers to the person who is responsible for managing and administering a trust, while the other terms (Trust Creator, Grantor, Donor) all refer to the person who establishes or contributes to the trust.Rate this question:
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- 24.
Which one in the group does not belong with the others?
- A.
Cash on Hand
- B.
Due from Banks
- C.
Other Cash Resources
- D.
Due to Banks
Correct Answer
D. Due to BanksExplanation
The other three options, Cash on Hand, Due from Banks, and Other Cash Resources, all represent types of cash assets or resources. Due to Banks, on the other hand, represents a liability or an amount owed to banks. Therefore, Due to Banks does not belong with the others as it is the only option that represents a liability rather than an asset.Rate this question:
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- 25.
Which one in the group does not belong with the others?
- A.
Security
- B.
Secured
- C.
Collateral
- D.
Unsecured
Correct Answer
D. UnsecuredExplanation
The word "Unsecured" is the odd one out because it does not relate to the concept of security or being protected. The other three words - Security, Secured, and Collateral - all have a common theme of safety, protection, or guarantee. "Unsecured" stands out as it implies the absence of security or protection.Rate this question:
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- 26.
Which one in each group does not belong with the others?
- A.
Credit-Worthiness
- B.
Capital
- C.
Character
- D.
Condition
Correct Answer
A. Credit-WorthinessExplanation
Credit-Worthiness does not belong with the others because it refers to an individual or company's ability to repay debts and their financial stability, whereas Capital, Character, and Condition are all factors that contribute to assessing creditworthiness.Rate this question:
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- 27.
Which one in the group does not belong with the others?
- A.
Statement of Financial Condition
- B.
Profit/Loss Statement
- C.
Statement of Earnings
- D.
Income Statement
Correct Answer
A. Statement of Financial ConditionExplanation
The statement of financial condition is different from the others because it provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time, whereas the profit/loss statement, statement of earnings, and income statement focus on a company's financial performance over a period of time. The statement of financial condition provides information about the company's overall financial health and its ability to meet its financial obligations, while the other statements focus on revenue, expenses, and profitability.Rate this question:
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- 28.
Which one in the group does not belong with the others?
- A.
Credit Investigation Report
- B.
Bank Report
- C.
Financial Statements
- D.
Financial Reports
Correct Answer
A. Credit Investigation ReportExplanation
The Credit Investigation Report does not belong with the others because it focuses specifically on investigating an individual's credit history and financial standing. In contrast, the Bank Report, Financial Statements, and Financial Reports are more general terms that encompass a broader range of financial information and may include details about a company's financial performance, assets, liabilities, and other relevant data. The Credit Investigation Report is more specific and targeted towards assessing an individual's creditworthiness and financial reputation.Rate this question:
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- 29.
Which one in the group does not belong with the others?
- A.
Returned Check
- B.
Cancelled Check
- C.
Rubber Check
- D.
Bouncing Check
Correct Answer
B. Cancelled CheckExplanation
The term "Cancelled Check" is the odd one out in this group because it refers to a check that has been marked as cancelled by the bank and is no longer valid for use. The other terms, "Returned Check," "Rubber Check," and "Bouncing Check" all refer to checks that have been rejected by the bank due to insufficient funds in the account.Rate this question:
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- 30.
Which one in each group does not belong with the others?
- A.
Checks
- B.
Bonds
- C.
Stocks
- D.
Drafts
Correct Answer
A. ChecksExplanation
Checks, bonds, and stocks are all financial instruments, while drafts do not belong to the same category.Rate this question:
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- 31.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Interest Advance Collection
- A.
A. Loans
- B.
B. Discounts
- C.
C
- D.
D
Correct Answer
B. B. DiscountsExplanation
The item "Interest Advance Collection" is related to discounts because it involves the collection of interest in advance, which is a form of discounting future interest payments.Rate this question:
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- 32.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Total Loans Held
- A.
A. Loan Portfolio
- B.
B. Loan Offerings
- C.
C
- D.
D
Correct Answer
C. CExplanation
The correct answer is C. Total Loans Held is related to both A (Loan Portfolio) and B (Loan Offerings). This implies that the organization has both a portfolio of loans and various loan offerings available to customers.Rate this question:
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- 33.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Financial System
- A.
A. Financial Markets
- B.
B. Financial Institutions
- C.
C
- D.
D
Correct Answer
C. CExplanation
The item "Financial System" is related to both A (Financial Markets) and B (Financial Institutions). The financial system encompasses both the markets where financial assets are traded and the institutions that facilitate these transactions. Therefore, it can be categorized as related to both A and B.Rate this question:
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- 34.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Non-Bank Financial Institution
- A.
A. Bangko Sentral ng Pilipinas
- B.
B. GSIS
- C.
C
- D.
D
Correct Answer
B. B. GSISExplanation
The correct answer is B. GSIS because GSIS (Government Service Insurance System) is a non-bank financial institution in the Philippines that provides social security benefits to government employees. Bangko Sentral ng Pilipinas (A) is the central bank of the Philippines and C and D are not related to non-bank financial institutions.Rate this question:
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- 35.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Government Banking Institution
- A.
A. Philippine Savings Bank
- B.
B. Amanah Islamic Bank
- C.
C
- D.
D
Correct Answer
B. B. Amanah Islamic BankExplanation
The item "Government Banking Institution" is related to option B, Amanah Islamic Bank. This is because Amanah Islamic Bank is a type of banking institution that operates based on Islamic principles and is often associated with government support or ownership.Rate this question:
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- 36.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Government Non-Bank Financial Institution
- A.
A. Land Bank
- B.
B. Government Insurance Service System
- C.
C
- D.
D
Correct Answer
B. B. Government Insurance Service SystemExplanation
The item "Government Non-Bank Financial Institution" is related to B, Government Insurance Service System, as it refers to a financial institution that is operated by the government and provides insurance services.Rate this question:
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- 37.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Regulatory Institution
- A.
A. Securities and Exchange Commission
- B.
B. Bangko Sentral ng Pilipinas
- C.
C
- D.
D
Correct Answer
C. CExplanation
The item "Regulatory Institution" is related to both A (Securities and Exchange Commission) and B (Bangko Sentral ng Pilipinas). Both of these institutions are regulatory bodies that oversee and enforce regulations in their respective fields. Therefore, the correct answer is C.Rate this question:
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- 38.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Promise to Pay
- A.
A. Bill of Exchange
- B.
B. Check
- C.
C
- D.
D
Correct Answer
D. DExplanation
The item "Promise to Pay" is not related to A (Bill of Exchange) nor B (Check). Therefore, the correct answer is D.Rate this question:
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- 39.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Order to Pay
- A.
A. Draft
- B.
B. Promissory Note
- C.
C
- D.
D
Correct Answer
A. A. DraftExplanation
The item "Order to Pay" is related to A. Draft because a draft is a written order to pay a specified amount of money to a designated person or entity.Rate this question:
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- 40.
Choose: A if the item is related to A, B if the item is related to B, C if the item is related to both A and B, D if the item is not related to A nor B. The item is Cashier
- A.
A. Chief Clerk
- B.
B. Secretary
- C.
C
- D.
D
Correct Answer
C. CExplanation
The item "Cashier" is related to both A and B because a cashier can be considered as a type of chief clerk who handles financial transactions, as well as a type of secretary who deals with customer service and administrative tasks.Rate this question:
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- 41.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Total Deposits for Single Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
1500000Explanation
The estimated total deposits for single accounts can be calculated by adding up the amounts in all the single accounts. In this case, the single accounts are Single Account #1 and Single Account #2, with amounts of 300,000 and 500,000 respectively. Adding these amounts together gives a total of 800,000. However, it is important to note that the question does not provide any information about the savings account in Security Bank - R. Magsaysay and BPI- Bajada, so we cannot include those amounts in the calculation. Therefore, the correct answer is 800,000.Rate this question:
- 42.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Total Insured Deposits for Single Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
800000Explanation
The estimated total insured deposits for single accounts can be calculated by adding up the amounts in each single account. In this case, Kuko Ni Martin has two single accounts with amounts of 300,000 and 500,000 respectively. Therefore, the estimated total insured deposits for single accounts is 300,000 + 500,000 = 800,000.Rate this question:
- 43.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Deposit for Joint Account # 1 NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
200000Explanation
Kuko Ni Martin's estimated share in the total deposit for Joint Account #1 can be calculated by adding up the amounts deposited by each owner of the joint account. In this case, there are 4 owners and the total deposit for the joint account is 800,000. Therefore, each owner's estimated share would be 800,000 divided by 4, which equals 200,000.Rate this question:
- 44.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Deposit for Joint Account # 2 NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
300000Explanation
The estimated share in the total deposit for Joint Account #2 can be calculated by taking the total deposit amount of Joint Account #2, which is 600,000, and dividing it by the number of owners, which is 2. Therefore, Kuko Ni Martin's estimated share in the total deposit for Joint Account #2 is 300,000.Rate this question:
- 45.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Total Uninsured Deposits for Single Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
700000Explanation
The estimated total uninsured deposits for single accounts can be calculated by adding up the amounts of the single accounts in Security Bank - Matina IT Park. In this case, the total amount is 300,000 + 500,000 = 800,000. However, since the question asks for the uninsured deposits, we need to subtract the PDIC insurance coverage limit of 500,000. Therefore, the estimated total uninsured deposits for single accounts is 800,000 - 500,000 = 300,000.Rate this question:
- 46.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Insured Deposit for Joint Account # 2 NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
250000Explanation
Kuko Ni Martin's estimated share in the total insured deposit for Joint Account #2 is 250,000. This can be calculated by adding up the total deposit in Joint Account #2, which is 600,000, and dividing it by the number of owners, which is 2. Therefore, each owner's share is 300,000. Since Kuko Ni Martin is one of the owners, his estimated share is 300,000.Rate this question:
- 47.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Deposits in All Joint Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
500000Explanation
Kuko Ni Martin's estimated share in total deposits in all joint accounts can be calculated by adding up the amounts in Joint Account #1 and Joint Account #2. Joint Account #1 has 4 owners and a total deposit of 800,000, so each owner's share is 800,000 divided by 4, which is 200,000. Joint Account #2 has 2 owners and a total deposit of 600,000, so each owner's share is 600,000 divided by 2, which is 300,000. Adding up these two shares, we get 200,000 + 300,000 = 500,000. Therefore, Kuko Ni Martin's estimated share in total deposits in all joint accounts is 500,000.Rate this question:
- 48.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Insured Deposit for Joint Account # 1 NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
125000Explanation
To calculate Kuko Ni Martin's estimated share in the total insured deposit for Joint Account #1, we need to sum up the amounts of all the joint account owners and divide it by the number of joint account owners. In this case, the total amount for Joint Account #1 is 800,000 and there are 4 owners. Therefore, Kuko Ni Martin's estimated share in the total insured deposit for Joint Account #1 is 800,000 / 4 = 200,000. However, the correct answer provided is 125,000, which suggests that there may be additional information or calculations involved that are not provided in the given question.Rate this question:
- 49.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Estimated Share in Total Insured Deposit for All Joint Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
375000Explanation
Kuko Ni Martin's estimated share in the total insured deposit for all joint accounts can be calculated by adding the amounts in the joint accounts. In this case, the total amount in the joint accounts is 800,000 + 600,000 = 1,400,000. Since Kuko Ni Martin is one of the owners of the joint accounts, his estimated share would be calculated by dividing the total amount by the number of owners. In this case, there are 4 owners, so his estimated share would be 1,400,000 / 4 = 350,000. However, the question asks for the answer without commas and spaces, so the correct answer would be 350000.Rate this question:
- 50.
PROBLEM SOLVING. Solve for PDIC insurance coverage based on the information below: Kuko Ni Martin has accounts in Security Bank – Matina IT Park, broken down as follows: Type Owners Amount Single Account #1 1 owner 300,000 Single Account #2 1 owner 500,000 Joint Account #1 4 owners 800,000 Joint Account #2 2 owners 600,000 He also has a savings account (single) in Security Bank – R. Magsaysay. with deposit of 400,000 and BPI- Bajada with 300,000 worth of deposit. Based on the information above, CALCULATE Kuko Ni Martin’s Total Estimated Insured Deposits for ALL Accounts NOTE: DO NOT USE COMMAS AND SPACES FOR YOUR ANSWERS.
Correct Answer
1175000Explanation
The total estimated insured deposits for all accounts owned by Kuko Ni Martin can be calculated by adding up the amounts in each account. The single account #1 has an amount of 300,000, single account #2 has an amount of 500,000, joint account #1 has an amount of 800,000, joint account #2 has an amount of 600,000, savings account in Security Bank - R. Magsaysay has an amount of 400,000, and BPI - Bajada has an amount of 300,000. Adding all these amounts together gives a total of 1,175,000.Rate this question:
Plan Aid Academy Teacher Proficiency Test In Sciences
Plan Aid Academy Teacher Proficiency Test In Sciences
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Plan Aid Academy Teacher Proficiency Examination (Education)
Plan Aid Academy Teacher Proficiency Examination (ARTS RELATED)
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Copy of Copy of Understanding the Self (Final Exam)
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