問題一覧
1
Bank discount is calculated by adding the interest in advance from the loan amount, while a promissory note is a written promise to pay a specified amount.
false
2
simple interest is computed on the principal amount and is added to that amount when the loan is due
true
3
Alender or creditor owes money, while a borrower or debtor provides funds.
false
4
Time s expressed in the simple interest formula by months or as a fractional part of a month.
false
5
The two methods used for measuring time in day for loan is the exact interest method (360 dayshand the ordinary interest method (365 days).
false
6
An ordinary commercial bank engages only in ordinary banking activities, while an expanded commercial bank combines commercial banking with investment house powers.
true
7
thrift banks mobilize small savings and provide loans at reasonable interest rates.
true
8
RA no. 377 is the law that governs the operations of saving banks in the Philippines.
false
9
The principal objective of a private development bank is to cater to the capital needs for investment credit or medium- and long-term loans for agriculture and industry.
true
10
RA No. 4093 governs private development banks in the Philippines.
true
11
Banker's Rule is the combination of ordinary interest using actual time, which yields the highest interest.
true
12
Actual time assumes each month has 30 days, while approximate time counts every day assumes each month has 30 days.
false
13
The maturity date is the date when the loan becomes due, calculated from the loan date minus the loan term.
false
14
Rural banks adapt to the changing financial world by undergoing structural and economic changes, ineluding mergers and affiliations.
true
15
The primary focus of a stock savings and loan association is to supply the credit needs of rural areas and promote rural development.
false
16
RA No. 720 governs rural banks in the Philippines.
true
17
The primary purpose of a savings bank as defined by RA No. 377 is to accumulate the savings Of depositors and invest them in various financial instruments.
false
18
Markstable bonds, debt securities, loans secured by mortgages, and personal finance loans arg the types of investments can a savings bank make according to RA No. 337.
true
19
The forsula for calculating simple interest is Interest = Principal x Rate x Time.
true
20
to compute interest using the exact interest methed with actual time the formula is Interest = Principal x Rate x Time, using actual days over 360.
false