Clearing Cycle

Question 1 of 16

1

Out of town checks becomes clear after 5 days.

Select one of the following:

True
False

Explanation

Question 2 of 16

1

BRSTN is located at the:

Select one of the following:

lower right of the check
lower left of the check
upper right of the check
upper left of the check

Explanation

Question 3 of 16

1

Who is the drawer of the check?

Select one of the following:

Michael dela Cruz
Filtrepreneur Franchise Inc

Explanation

Question 4 of 16

1

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

Select one of the following:

BPI
EWB

Explanation

Question 5 of 16

1

Drawee bank has to inform the drawer for any returned check

Select one of the following:

True
False

Explanation

Question 6 of 16

1

Presenting bank has to inform the depositor for any returned check.

Select one of the following:

True
False

Explanation

Question 7 of 16

1

How many times can we deposit a check?

Select one of the following:

one
three
four
two

Explanation

Question 8 of 16

1

How many months does it take for a check to be considered as stale?

Select one of the following:

eight months
six months
three months

Explanation

Question 9 of 16

1

When can I deposit the check? (Select all applicable answers)

Select one or more of the following:

September 25, 2012
September 24, 2012
October 1, 2013
January 1, 2013
December 28, 2012
March 1, 2012

Explanation

Question 10 of 16

1

Can Veronica encash the check?

Select one of the following:

True
False

Explanation

Question 11 of 16

1

Who is the drawee?

Select one of the following:

BPI
Philcomsat Holdings Corporation
Luis K. Lokin, Jr.
Veronica Nepomuceno

Explanation

Question 12 of 16

1

What is the account number?

Select one of the following:

0000309381
010041897
3763010529
112

Explanation

Question 13 of 16

1

What is the check number?

Select one of the following:

0000309381
010041897
3763010529
112

Explanation

Question 14 of 16

1

BPI is the presenting bank

Select one of the following:

True
False

Explanation

Question 15 of 16

1

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

Select one of the following:

True
False

Explanation

Question 16 of 16

1

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.

Select one of the following:

3,575
715,000
4,575
716,000
3,592
718,400
718,600
719,400
719,600

	Created by monicalao over 9 years ago

The objective of this exam is to measure your understanding on the check/clearing cycle.

Clearing Cycle

Question 1 of 16

Out of town checks becomes clear after 5 days.

Select one of the following:

Explanation

Question 2 of 16

BRSTN is located at the:

Select one of the following:

Explanation

Question 3 of 16

Who is the drawer of the check?

Select one of the following:

Explanation

Question 4 of 16

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

Select one of the following:

Explanation

Question 5 of 16

Drawee bank has to inform the drawer for any returned check

Select one of the following:

Explanation

Question 6 of 16

Presenting bank has to inform the depositor for any returned check.

Select one of the following:

Explanation

Question 7 of 16

How many times can we deposit a check?

Select one of the following:

Explanation

Question 8 of 16

How many months does it take for a check to be considered as stale?

Select one of the following:

Explanation

Question 9 of 16

When can I deposit the check? (Select all applicable answers)

Select one or more of the following:

Explanation

Question 10 of 16

Can Veronica encash the check?

Select one of the following:

Explanation

Question 11 of 16

Who is the drawee?

Select one of the following:

Explanation

Question 12 of 16

What is the account number?

Select one of the following:

Explanation

Question 13 of 16

What is the check number?

Select one of the following:

Explanation

Question 14 of 16

BPI is the presenting bank

Select one of the following:

Explanation

Question 15 of 16

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

Select one of the following:

Explanation

Question 16 of 16

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.

Select one of the following:

Explanation