Question 1

A brand new house and lot at a well-known subdivision is priced at P4,500,000 requiring a down payment of 20%. The financing company charges an interest of 12% per annum for a term of 20 years. Compute for its down payment and mortgage loan.

Accepted Answer

DP=Php900,000: ML=Php3,600,000

Answer

DP=Php950,000: ML=Php3,550,000

Answer

DP=Php900,500: ML=Php3,599,500

Question 2

A brand new house and lot at a well-known subdivision is priced at P4,500,000 requiring a down payment of 20%. The financing company charges an interest of 12% per annum for a term of 20 years. Compute for the monthly payment.

Accepted Answer

P39,639.10

Answer

P39,639.57

Answer

P39,639.22

Question 3

Salesmen, agents, and brokers are generally paid _____ as incentives for increasing a firm’s sales.

Accepted Answer

Commission

Answer

Salary

Answer

Override

Question 4

An _______ is a table or chart showing each monthly payment on an amortizing loan indicating how much of each payment goes to interest and how much goes to principal.

Accepted Answer

Amortization Schedule

Answer

Amortization

Answer

Mortgage

Question 5

Assume that a house and lot priced at P1,000,000 is asking for a 20% down payment and an APR of 6% with a term of 20 years. How much is the down payment?

Accepted Answer

Php200,000

Answer

Php250,000

Answer

Php300,000

Question 6

Assume that a house and lot priced at P1,000,000 is asking for a 20% down payment and an APR of 6% with a term of 20 years. What is the remaining balance?

Accepted Answer

Php800,000

Answer

Php750,000

Answer

Php700,000

Question 7

Assume that a house and lot priced at P1,000,000 is asking for a 20% down payment and an APR of 6% with a term of 20 years. What is the monthly interest?

Accepted Answer

0.50%

Answer

0.01%

Answer

0.05%

Question 8

Assume that a house and lot priced at P1,000,000 is asking for a 20% down payment and an APR of 6% with a term of 20 years. Compute for its monthly payment.

Accepted Answer

Php5,731.45

Answer

Php5,731.47

Answer

Php5,731.43

Question 9

A brand new car has a list price of P850,000. The car dealer requires a 20% down payment. The car dealer has an arrangement with a bank to finance the balance on the car. The term of the loan is 5 years. The bank is charging an interest of 6% per annum. Compute for the down payment needed and the balance that will have to be financed by the bank.

Accepted Answer

DP=Php170,000: ML=Php680,000

Answer

DP=Php165,000: ML=Php685,000

Answer

DP=Php160,000: ML=Php690,000

Question 10

A brand new car has a list price of P850,000. The car dealer requires a 20% down payment. The car dealer has an arrangement with a bank to finance the balance on the car. The term of the loan is 5 years. The bank is charging an interest of 6% per annum. Compute for its monthly payment.

Accepted Answer

Php13,146.31

Answer

Php13,146.22

Answer

Php13,146.58

Question 11

The cash price of a dining room set is P1,920. Mildred bought it on an installment basis. She pays 12 monthly installments of P174.40. What is the total amount she paid?

Accepted Answer

Php2,092.80

Answer

Php2,092.92

Answer

Php2,092.54

Question 12

Jan is a sales manager receiving a monthly salary of Php 18,000, a commission of 5% on his sales, and a monthly transportation allowance of Php 5,000. He is also given an override of 1% on his men’s sales. For the month of August, Jan sold a total of Php 110,000. His men sold a total of Php380,500. Compute for his gross earnings.

Accepted Answer

Php32,305

Answer

Php32,310

Answer

Php32,300

Question 13

________ is when you use your property as collateral for a loan from a financial institution.

Accepted Answer

Mortgage Loan

Answer

Mortgage

Answer

Amortization

Question 14

The _____ is usually a certain percent of the purchase price of the property.

Accepted Answer

Down Payment

Answer

Mortgage Loan

Answer

Term

Question 15

Roger is a sales engineer receiving a basic monthly compensation of P13,500 and commission on all sales of 1%. Compute his gross earnings for the month if his total sales is P124,580.

Accepted Answer

Php14,745.80

Answer

Php14,745.65

Answer

Php14,745.56

Question 16

A 21 cu.ft. refrigerator is priced at P46,795. The seller is willing to give it in installment for a 2-year term at 8% interest per annum for a 15% down payment. Solve for the down payment and monthly payment.

Accepted Answer

DP=Php7,019.25: ML=Php1,799.68

Answer

DP=Php7,019.00: ML=Php1,798.20

Answer

DP=Php7,019.15: ML=Php1,799.01

Question 17

Peter is a broker who earns commission of 3.5% on all securities sales that he makes. For the past year, he closed sales totaling Php 928,867. Find the amount of commission he earned for the year.

Accepted Answer

Php32,510.35

Answer

Php32,510.33

Answer

Php32,510.34

Question 18

Allen is a sales merchandiser receiving a basic monthly compensation of Php 14,500 and commission on all sales of 1.5%. Compute for his gross earnings for the month if he sold Php 135,600.

Accepted Answer

Php16,534

Answer

Php16,539

Answer

Php16,530

Question 19

Which among the following is the correct meaning of APR?

Accepted Answer

Annual Percentage Rate

Answer

Actual Percentage Rate

Answer

Annuity Percentage Rate

Question 20

A _____ is probably the biggest loan one can have. It is usually obtained for a house, a house and lot, or for a machinery or equipment.

Accepted Answer

Mortgage

Answer

Amortization Schedule

Answer

Amortization

Question 21

Nate is a sales manager receiving a monthly salary of P19,500, and a commission of 6% on his sales. He is also given an override of 2% on his men’s sales. For the month of August, Nate’s sales has a total of P150,000. His men’s sales has a total of P390,000. Compute for his gross earnings.

Accepted Answer

Php36,300

Answer

Php36,350

Answer

Php36,400

Question 22

Marketing and/or product managers are generally paid _____ on the sales of people under them.

Accepted Answer

Override

Answer

Commission

Answer

Salary

Question 23

A worker employed on a “_________” basis is paid in proportion to the quantity of work he or she finishes.

Accepted Answer

Piecework

Answer

Income

Answer

Wage

Question 24

Tammy is paid on a per piece basis at the rate of Php1.20 per piece. If she finishes 460 pieces for a week, how much is her total earnings?

Accepted Answer

Php552

Answer

Php551

Answer

Php550

Question 25

Which article says that it shall be the duty of every employer to give his or her employees not less than sixty (60) minutes time-off for their regular meals?

Accepted Answer

Article 85

Answer

Article 83

Answer

Article 84

Question 26

How many weeks are there in 1 year?

Accepted Answer

52 weeks

Answer

42 weeks

Answer

62 weeks

Question 27

Beth is paid based on a graduated piece-rate as follows:

Daily per piece

First 100 Php1.00

Next 100 Php1.25

Next 100 Php1.50

Exceeding 300 Php1.75

Compute for Beth’s earnings assuming she produced 310 pieces.

Accepted Answer

Php392.50

Answer

Php393.00

Answer

Php391.50

Question 28

Assuming an annual salary of Php96,000.00, compute for the monthly salary.

Accepted Answer

Php8,000

Answer

Php7,000

Answer

Php7,500

Question 29

Assuming an annual salary of Php96,000.00, compute for the weekly salary.

Accepted Answer

Php1,846.15

Answer

Php1,846.14

Answer

Php1,846.13

Question 30

Assuming an annual salary of Php96,000.00, compute for the bi-weekly salary.

Accepted Answer

Php3,692.31

Answer

Php3,692.32

Answer

Php3,692.30

Question 31

Assuming an annual salary of Php96,000.00, compute for the hourly rate if the regular weekly hour load is 40 hours.

Accepted Answer

Php46.15

Answer

Php46.16

Answer

Php46.17

Question 32

The _______ is the highest data minus the lowest data.

Accepted Answer

Range

Answer

Polygon

Answer

Frequency

Question 33

____________ can show either the actual number of observations falling in each range or the percentage of observations.

Accepted Answer

Frequency distribution

Answer

Relative Frequency Distribution

Answer

Frequency Polygon

Question 34

Which of the following is one of the most widely used graphs in statistics and is also called line graph?

Accepted Answer

Frequency Polygon

Answer

Frequency Histogram

Answer

Frequency distribution

Question 35

A ________ is a graphical display of data using bars of different heights; hence, it is also called a bar graph.

Accepted Answer

Frequency Histogram

Answer

Frequency Polygon

Answer

Frequency distribution

Question 36

A salesperson receives a 6% commission on total sales. If her total commission is ₱9,000, what was the total amount of her sales?

Accepted Answer

Php150,000

Answer

Php135,000

Answer

Php120,000

Question 37

Mr. Santos earns a ₱10,000 basic salary and a 5% commission on sales exceeding ₱50,000. If his total sales for the month is ₱90,000, what is his total pay?

Accepted Answer

Php12,000

Answer

Php13,000

Answer

Php11,000

Question 38

A car dealer pays his agent a commission rate of 8%. If the agent’s total commission for the month is ₱24,000, how many pesos worth of cars did he sell?

Accepted Answer

Php300,000

Answer

Php200,000

Answer

Php250,000

Question 39

You are given the following data relative to the distance freshmen students live from the Holy Child Catholic School:

Number of Blocks Away from School Frequency

1 15

2 21

3 12

4 16

5 18

How many students are there?

Accepted Answer

82

Answer

81

Answer

80

Question 40

You are given the following data relative to the distance freshmen students live from the Holy Child Catholic School:

Number of Blocks Away from School Frequency

1 15

2 21

3 12

4 16

5 18

How many blocks from the school do the greatest number of students live? The least number of students?

Accepted Answer

2 blocks: 3 blocks

Answer

4 blocks: 3 blocks

Answer

1 block: 2 blocks

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