MGMT 390 FINAL EXAM (ERAU) 2016

Jul 25th, 2016
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Question 1 4 pts A conditional promise to pay is not a negotiable instrument. True False Question 2 4 pts An instrument payable "with interest" must specify a particular rate to be negotiable. True False Question 3 4 pts On May 1, Dooley signs a check that is payable to the order of Extra Credit Corporation and that is dated July 1. This check is negotiable. nonnegotiable, because it is payable to Extra Credit Corporation. nonnegotiable, because it is postdated. nonnegotiable, because it is signed by Dooley. Question 4 4 pts Financial institutions that exchange digital images of checks do not have to exchange the original paper checks. True False Question 5 4 pts The Federal Reserve System acts as a clearinghouse where banks exchange checks. True False Question 6 4 pts Each bank in a collection chain must pass a check on before midnight of the day of its receipt. True False Question 7 4 pts Filing a f

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MGMT 390 FINAL EXAM (ERAU) 2016Question 14 ptsA conditional promise to pay is not a negotiable instrument.TrueFalseQuestion 24 ptsAn instrument payable "with interest" must specify a particular rate to be negotiable.TrueFalseQuestion 34 ptsOn May 1, Dooley signs a check that is payable to the order of Extra Credit Corporation and thatis dated July 1. This check isnegotiable.nonnegotiable, because it is payable to Extra Credit Corporation.nonnegotiable, because it is postdated.nonnegotiable, because it is signed by Dooley.Question 44 ptsFinancial institutions that exchange digital images of checks do not have to exchange the originalpaper checks.TrueFalseQuestion 54 ptsThe Federal Reserve System acts as a clearinghouse where banks exchange checks.TrueFalseQuestion 64 ptsEach bank in a collection chain must pass a check on before midnight of the day of its receipt.TrueFalseQuestion 74 ptsFiling a financing statement with the appropriate public office is the only way to perfect apurchase-money security interest in consumer goods.TrueFalseQuestion 84 ptsA security agreement must be filed in person to be valid and enforceable.TrueFalseQuesti

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