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Week 7

Satisfactory Essays
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Week 7
1 Question 1

0 out of 1 points

1
1
1
1 The return on a commercial bill for a holder at its maturity is the difference between its discounted purchase price and the face value of the bill.

1
1 Selected Answer:
2 True
3 Correct Answer:
4 False 2 Question 2

1 out of 1 points

1
1
1
1 With regard to a rollover bill financing facility:

1
1 Selected Answer:
2 none of the given answers are correct.
3 Correct Answer:
4 none of the given answers are correct. 3 Question 3

1 out of 1 points

1
1
1
1 For a commercial bill, the interest rate is quoted as a/an:

1
1 Selected Answer:
2 annual percentage rate.
3 Correct Answer:
4 annual percentage rate. 4 Question 4

0 out of 1 points

1
1
1
1 The annual cost of forgoing a cash discount under the terms of sale 2/30 n/90, assuming a 365-day year is:

1
1 Selected Answer:
2 12.2%
3 Correct Answer:
4 12.4% 5 Question 5

1 out of 1 points

1
1
1
1 When underwriting a commercial paper issue, an investment bank's fee will usually be:

1
1 Selected Answer:
2 0.1% per annum.
3 Correct Answer:
4 0.1% per annum. 6 Question 6

1 out of 1 points

1
1
1
1 A 2/15, n/30 date of invoice translates as:

1
1 Selected Answer:
2 a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.
3 Correct Answer:
4 a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date. 7 Question 7

1 out of 1 points

1
1
1
1 The most important function of an underwriter for a promissory note issue is to:

1
1 Selected Answer:
2 buy the issue of securities from the corporation and resell it to investors
3 Correct Answer:
4 buy the issue of securities from the corporation and resell it to investors 8 Question 8

1 out of 1 points

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