COOPERATIVE CODE

A 1. It is known as the Philippine Cooperative Code of 2008.

a. RA 9520
b. RA 9250
c. Act 9520
d. Act 9250
A 2. It is an autonomous and duly registered associatkon of persons.
a. Cooperative
b. Corporation
c. Incorporation
d. Partnership
A 3. It is where cooperative comply with.
a. Universally Accepted Coop Principle
b. Universally Accepted Corp Principl
c. GAAP
d. GAAS
D 4. Cooperatives are open to all persons able t use their services and willing to accept their responsibili
a. Member Economic Participation
b. Autonomy and Independence
c. Democratice Member Control
d. Voluntary and Open Membership
D 5. Cooperatives are self-help organizations controlled by members.
a. Auntonomy and Independence
b. Democratic Member Control
c. Education, Training and Information
d. Voluntary and Open Membership
B 6
a.
b.
c.
d.
C 7. Cooperatives work for the sustainable development of their community.
a. Democratic Member Control
b. Autonomy and Independence
c. Concern for Community
d. Voluntary and Open Membership
A 8. Cooperative serve their members most effectively and strengthen the coop movement.
a. Cooperation among Coop
b. Concern for Community
c. Voluntary and Open Membership
d. Education, Training and Information
A 9. The following are cooperative principles, except?
a. Cooperation among Corporation
b. Autonomy and Independence
c. Democratice Member Control
d. Concern for Community
B 10. It includes a person either natural or juridical.
a. Cooperatives
b. Member
c. General Assembly
d. Board of Directors
A 11. It is the body entrusted with the management of affairs.
a. Board of Directors
b. Members
c. Cooperatives
d. General Assembly
A 12. It is the full membership of a body of representatives elected by each of the sectors.
a. Representative Assembly
b. General Assembly
c. Committee
d. Officers
A 13. It is the operative act granting juridical personality.
a. Registration
b. Bylaws
c. Social Audit
d. Performance Audit
D 14. It refers to any body snteustex with specific functions.
a. Members
b. Officers
c. Assembly
d. Committee
D 15. It refers to the government agency in charge of rhe registration and regulation of cooperatives.
a. SEC
b. BIR
c. Corporation
d. Cooperative Development Authority
B 16. It is a procedure wherein the cooperative assesess its social impact and ethical performance.
a. Registration
b. Social Audit
c. Operational Audit
d. Performace Audit
C 17. It refers to any organization whose membership or shareholders come from a cooperative.
a. Service Coop
 b. Federation of Coop
c. Subsidiary Coop
d. Single-purpose Coop
A 18. It refers to three or more primary coop doing the same kind of business.
a. Federation of Coop
b. Subsidiary Coop
c. Service Coop
d. Single-line Coop
A 19. It refers to an audit on the efficiency and effectiveness.
a. Performance
b. Social
c. Operational
d. Service
B 20. What is coop's liability?
a. Unlimited
b. Limited
c. None
d. Optional
A 21. A coop shall exist for a perios not exceeding?
a. 50 yrs from date of registration
b. 25 yrs
c. 45 yrs
d. 50 yrd
A 22. The name of xoop which shall include the word
a. Cooperative
b. Corporation
c. Incorporation
d. Incorporated
A 23. The bylaws shall be filed at the same time as the articles if cooperation
a. True
b. Not true
c. It depends
d. False
D 24. A coop that undertakes joint production whether agricultural or industrial.
a. Marketing
b. Agrarian Reform
c. Credit
d. Producers
D 25. Coop where members are engaged in the production of fresh milk.
a. Agrarian Reform
b. Advocacy
c. Electric
 d. Dairy
B 26. It is one organized for the primary purpose of engaging in savings and credit services.
a. Multipurpose
b. Financial Service
c. Consumer
d. Education
C 27. A coop organized to assist or provide access to housing for the benefit of members.
a. Education
b. Service
c. Housing
d. Health Service
A 28. A coop where members are secondaries.
a. Tertiary
b. Primary
c. b and d
d. Secondary
A 29. What are the two members of coop? Regular and?
a. Associate
b. Special
c. Board of Directors
d. Secondary
B 30. It is a coop organized by minors.
a. Minor
b. Laboratory
c. Special
d. Primary
A 31. Merger and consolidation happens after how many votes of members?
a. 3/4
b. 2/3
c. 1/2
d. 1/3
A 32. An important personnel that should be included during registration
a. Bookkeeper
b. Accountant
c. Organizer
d. Members
A 33. Insolvency Law applicable when coop is insolvent.
a. Act No. 1956
b. RA 1956
c. RA 9520
d. Act No. 9520
D 34. The following are involuntary dissolution, except?
 a. Insolvency
b. Order by the court
c. Violation of any law
d. Creditors rights are prejudiced
D 35. The net surplus of coop shall be determined in accordance with?
a. Articles of Cooperation
b. Tax privilege
c. Annual reports
d. Bylaws
B 36. A coop organized by marginal farmers.
a. Electric
b. Agrarian Reform
c. Agricultural
d. Multi-purpose
C 37. These are landholdings like plantations, haciendas acquired by the State for the benefit of workers
a. Public Lands
b. Land Reform
c. Cooperative Estates
d. Infrastructures
A 38. The quorum requirement for general assembly shall be?
a. 1/2 plus 1 of voting shares
b. 2/3 plus 1
c. 3/4 plus 1
d. 1/2 plus 1
A 39. Public service coop, provide the following services, except?
a. Insurance
b. Ice plant storage services
c. Power generation
d. Communication services
B 40. The following are services provided by credit coop, except?
a. Mutual benefit
b. Insurance
c. Bonding
d. Representation
A 41. Credit coop can be converted to financial service coop.
a. True
b. It depends
c. False
d. Impossible
A 42. Who owns and operates a financial service coop?
a. Members
b. BOD
 c. Officers
d. Organizers
A 43. Minors who are dependents of regular members can qualify as associate members.
a. True
b. It depends
c. False
d. Impossible
D 44. The registration of an elevtric coop shall be submitted for approval to the members through?
a. Memorandum
b. Articles of Coop
c. Registration
d. Referendum
D 45. A coop which combines two or more of the business activities of different types of coop.
a. Producers
b. Combined
c. Secondary
d. Multipurpose
B 46. A coop where members are primaries.
a. Primary
b. Secondary
c. Tertiary
d. Subsidiary
C 47. This include all private firms and tge national and local governments and GOCC.
a. Institutions
b. Industry
c. Employer
d. Employee
A 48. The following are sources of capital, except?
a. All are sources of capital
b. Members Share Capital
c. Loans
d. Borrowings
A 49. Coop Banks shall be under the provision of?
a. Bangko Sentral ng Pilipinas
b. SEC
c. CDA
d. BIR
B 50. The voting rights of members shall be proportional to the number of their paid-up shares.
a. It depends
b. True
c. False
d. Impossible
ling to accept their responsibilities.

coop movement.
h of the sectors.

regulation of cooperatives.

and ethical performance.

me from a cooperative.
nd credit services.

efit of members.
State for the benefit of workers.
ociate members.

o the members through?

erent types of coop.

and GOCC.

their paid-up shares.

A 1. This act shall be known as the “Financial Rehabilitation and Insolvency Act”
a. RA 10142
b. RA 9520
c. Act 10142
d. RA 9350
A 2. It refers to administrative expenses, except?
a. Selling Expense
b. Payment of new obligations
c. Fees of the rehabilitation receiver
d. Other expenses allowed by the court
A 3. It refers to demands of whatever nature or character against the debtor.
a. Claims
b. Affiliate
c. Demand
d. Liability
D 4. It refers to real and personal property of debtor.
a. Liability
b. Lien
c. Collateral
d. Encumbered Property
D 5. It refers to a natural person that becomes insolvent.
a. Debtor
b. Creditor
c. Individual Creditor
d. Individual Debtor
B 6. It refers to proceedings initiated by creditors
a. Voluntary
b. Involuntary
c. Liquidation Order
d. Involuntary Liquidation
C 7. Shall refer to a statutory or contractual claim.
a. Encumbered property
b. Collateral
c. Lien
d. a & b
A 8. It refers to natural person or juridical entity appointed by the court and such powers are set forth in th
a. Liquidator
b. Debtor
c. Creditor
 d. a & c
A 9. It refers to a natural person holding a management position.
a. Officer
b. Liquidator
c. BOD
d. Debtor
B 10. It refers to a corporation which has control over another corporation.
a. Owner
b. Parent
c. Consolidation
d. Surviving Coop
A 11. It refers to monetary claims against the debtor.
a. Liabilities
b. Mortgage
c. Obligation
d. Credit
A 12. It refers to the financial condition of a debtor that is generally unable to pay its debts.
a. Insolvent
b. Solvent
c. Liquidated
d. Bankrupt
A 13. The following are parties to the proceedings, except?
a. Liquidator
b. Debtor
c. Creditor
d. Stakeholder
D 14. It refers to the restoration of the debtor to a condition of successful operation and solvency.
a. Liquidation
b. Recovery
c. Restoration
d. Rehabilitation
D 15. It refers to a claim secured by lien.
a. Secured Lien
b. Claim
c. Lien
d. Secured claim
B 16. It refers to a creditor with a secured claim.
a. Secured Lien
b. Secured Creditor
c. Secured Claim
d. Creditor
C 17. It refers to a secured creditor or agent.
 a. Secured creditor
b. Secured agent
c. Secured party
d. a & b
A 18. It refers to proceedings initiated by the debtor.
a. Voluntary
b. Involuntary
c. Proceedings
d. Debtor Proceedings
A 19. It refers to a corporation more than 50% of voting stock is owned and controlled by parent corporati
a. Subsidiary
b. Parent
c. Non-stock
d. Major Corporation
B 20. The term debtor does not include the following, except?
a. Partnership registered to SEC
b. Bank
c. Insurance Company
d. Government
A 21. Who determines the extent of liability of the owner, partner, director or officer?
a. Court
b. Creditor
c. Debtor
d. Liquidator
A 22. The following are reasons for removal of rehab receiver, except?
a. Skillfulness
b. Incompetence
c. Illegal acts
d. Conflict of Interest
A 23. The following are components of creditors committee, except?
a. Secured Debtor
b. Secured Creditor
c. Unsecured Creditor
d. Employee of Debtor
D 24. The following are roles if creditors committee, except?
a. Assist rehab receiver in communicating with the creditor
b. It shall be primary liaison between the receiver and creditor
c. Cannot exercise or waive any right on behalf of any creditor
d. Not authorized by court to perform other tasks and functions
D 25. The following may be done by the rehab receiver to enhance its rehab, except?
a. enters into credit arrangements
b. incurs other obligations
 c. enters into credit arrangements, secured by mortgages
d. allows the sale or disposition of property
B 26. Compensation of employees required to carry on the business shall be considered an?
a. Selling expense
b. Administrative expense
c. Other expense
d. Salary expense
C 27. Rescission of certain pre-commencement transactions are the following, except?
a. involves accelerated payment of claim
b. provides inadequate consideration to debtor
c. involves creditors
d. provides security executed within 60 days
A 28. The following shows lack of adequate protection, except?
a. The value of claim secured by lien exceeds fair value
b. Debtor fails or refuse to take reasonable steps to maintain the property
c. The property has depreciated
d. The debtor fails or refuse to honor a pre-existing agreement
A 29. The following are contents of rehab plan, except?
a. Financial Liabilities
b. Financial goals
c. Establish classes of voting creditors
d. Compare amounts expected to be received
B 30. The court may confirm the rehab plan if all circumstances are present, except?
a. Complies with requirements
b. The creditors support was induced by fraud
c. Rehab receiver confirms the plan
d. Provides the objecting class of creditors
A 31. The following are circumstances to file objections of rehab plan.
a. Rehab plan is not supported by voting debtors
b. Creditors support was induced by fraud
c. Documents are materially false
d. Rehab plan is not supported by voting creditor
A 32. The following are effects of confirmation of rehab plan, except?
a. Claims arising after approval are subject to suspension order
b. Its provision binds upon debtors and all persons affected
c. Debtor shall comply with its provisions
d. Payments shall be made to the creditors
A 33. The following are failure of rehabilitation, except?
a. Disclosure of payments to creditors
b. Dismissal of petition
c. No substantial likelihood that debtor can be rehabilitated
d. Commission of fraud
D 34. The court upon by an affected party may do the following, except?
a. Issue order directing the cure of breach
b. Issue order converting the proceedings to a liquidation
c. Allows debtor to submit amendments to rehab plan
d. Unenforced applicable provisions
D 35. The following are effects of termination, except?
a. Discharge of rehab receiver
b. Lifting of stay order
c. Rehab receiver is discharged, subject to his submission of a final accounting
d. Enforcement of a claim against the debtor
B 36. Petition by debtor includes the following, except?
a. Schedule of debtor’s debts
b. Inventory of debtor’s assets
c. Pre-negotiated rehab plan
d. Summary of disputed claims against the creditor
C 37. The following are contents if issued order, except?
a. Identification of debtor
b. Debtor is under rehab
c. Direct publication in a magazine
d. Summary of grounds for petition
A 38. The following are objections to petition of rehab plan, except?
a. Accurately accounts claims
b. Allegations are misleading
c. Majority do not support rehab plan
d. Support of creditor was induced by fraud
A 39. Minimum requirements of out of court or informal rehab plans, except?
a. The creditor must agree to informal rehab plans
b. It must be approved by 67% of secured obligations
c. It must be approved by 75% of unsecured obligations
d. It must be approved by 85% of secured and unsecured obligations
B 40. The following are acts of insolvency, except?
a. Such person is about to depart
b. Being absent from the Republic of the Philippines without intent to defraud
c. He conceals any of his property to avoid being attached or taken on legal process
d. That he suffered or procured his property
A 41. Liquidation order contains the following, except?
a. Order liquidation of creditor
b. Declare the debtor insolvent
c. Authorize payments of administrative expense
d. Order publication of petition
A 42. The following are effects of liquidation order, except?
a. Separate action for collection of unsecured claim
 b. Juridical debtor is dissolved
c. Legal title is vested
d. All contracts are terminated
A 43. Rights of secured creditor
a. b, c and d
b. Waives his right
c. Prove his claim on the proceeding
d. Maintain his rights under lien
D 44. The court may appoint the liquidator if, except?
a. Creditors do not attend on date of election
b. Creditors fail or refuse to elect a liquidator
c. Liquidator fails to qualify
d. No vacancy occurs
D 45. The following are duties and responsibilities of liquidator.
a. Sue and recover all assets
b. Take possession of all property
c. Redeem mortgages and pledges
d. All of the above
B 46. It enumerates all the assets and claims of the debtors
a. Rehab plan
b. Liquidation plan
c. Financial Statement
d. SAL’N
C 47. The sale of unencumbered assets of debtors, shall be made.
a. At the public market
b. By the creditor
c. By public auction
d. By the liquidator
A 48. The court may issue orders to the provision of the relief, except?
a. b, c & d are orders issued by the court
d. Suspending any action to enforce claims
c. Require surrender of property
d. Provide other necessary relief
A 49. The court shall consider the following factors in granting relief, except?
a. The just treatment of debtor
b. Protection of creditors
c. Foreign proceedings recognizes rights of creditors
d. Inconvenience in pursuing claims in foreign proceedings
B 50. The following are reasons for penalties, except?
a. Hide or conceal or destroy properties of debtors
b. Protects the property of debtor
c. Failure to disclose any person having fictitious claims
d. Knowingly violate a prohibition or obligation
nd such powers are set forth in this Act.
e to pay its debts.

operation and solvency.

nd controlled by parent corporation.

r or officer?

hab, except?
ll be considered an?

owing, except?

ent, except?
legal process
A 1. This act shall be known as the “Financial Rehabilitation and Insolvency Act”
a. RA 10142
b. RA 9520
c. Act 10142
d. RA 9350
A 2. It refers to administrative expenses, except?
a. Selling Expense
b. Payment of new obligations
c. Fees of the rehabilitation receiver
d. Other expenses allowed by the court
A 3. It refers to demands of whatever nature or character against the debtor.
a. Claims
b. Affiliate
c. Demand
d. Liability
D 4. It refers to real and personal property of debtor.
a. Liability
b. Lien
c. Collateral
d. Encumbered Property
D 5. It refers to a natural person that becomes insolvent.
a. Debtor
b. Creditor
c. Individual Creditor
d. Individual Debtor
B 6. It refers to proceedings initiated by creditors
a. Voluntary
b. Involuntary
c. Liquidation Order
d. Involuntary Liquidation
C 7. Shall refer to a statutory or contractual claim.
a. Encumbered property
b. Collateral
c. Lien
d. a & b
A 8. It refers to natural person or juridical entity appointed by the court and such powers are set forth in th
a. Liquidator
b. Debtor
c. Creditor
 d. a & c
A 9. It refers to a natural person holding a management position.
a. Officer
b. Liquidator
c. BOD
d. Debtor
B 10. It refers to a corporation which has control over another corporation.
a. Owner
b. Parent
c. Consolidation
d. Surviving Coop
A 11. It refers to monetary claims against the debtor.
a. Liabilities
b. Mortgage
c. Obligation
d. Credit
A 12. It refers to the financial condition of a debtor that is generally unable to pay its debts.
a. Insolvent
b. Solvent
c. Liquidated
d. Bankrupt
A 13. The following are parties to the proceedings, except?
a. Liquidator
b. Debtor
c. Creditor
d. Stakeholder
D 14. It refers to the restoration of the debtor to a condition of successful operation and solvency.
a. Liquidation
b. Recovery
c. Restoration
d. Rehabilitation
D 15. It refers to a claim secured by lien.
a. Secured Lien
b. Claim
c. Lien
d. Secured claim
B 16. It refers to a creditor with a secured claim.
a. Secured Lien
b. Secured Creditor
c. Secured Claim
d. Creditor
C 17. It refers to a secured creditor or agent.
 a. Secured creditor
b. Secured agent
c. Secured party
d. a & b
A 18. It refers to proceedings initiated by the debtor.
a. Voluntary
b. Involuntary
c. Proceedings
d. Debtor Proceedings
A 19. It refers to a corporation more than 50% of voting stock is owned and controlled by parent corporati
a. Subsidiary
b. Parent
c. Non-stock
d. Major Corporation
B 20. The term debtor does not include the following, except?
a. Partnership registered to SEC
b. Bank
c. Insurance Company
d. Government
A 21. Who determines the extent of liability of the owner, partner, director or officer?
a. Court
b. Creditor
c. Debtor
d. Liquidator
A 22. The following are reasons for removal of rehab receiver, except?
a. Skillfulness
b. Incompetence
c. Illegal acts
d. Conflict of Interest
A 23. The following are components of creditors committee, except?
a. Secured Debtor
b. Secured Creditor
c. Unsecured Creditor
d. Employee of Debtor
D 24. The following are roles if creditors committee, except?
a. Assist rehab receiver in communicating with the creditor
b. It shall be primary liaison between the receiver and creditor
c. Cannot exercise or waive any right on behalf of any creditor
d. Not authorized by court to perform other tasks and functions
D 25. The following may be done by the rehab receiver to enhance its rehab, except?
a. enters into credit arrangements
b. incurs other obligations
 c. enters into credit arrangements, secured by mortgages
d. allows the sale or disposition of property
B 26. Compensation of employees required to carry on the business shall be considered an?
a. Selling expense
b. Administrative expense
c. Other expense
d. Salary expense
C 27. Rescission of certain pre-commencement transactions are the following, except?
a. involves accelerated payment of claim
b. provides inadequate consideration to debtor
c. involves creditors
d. provides security executed within 60 days
A 28. The following shows lack of adequate protection, except?
a. The value of claim secured by lien exceeds fair value
b. Debtor fails or refuse to take reasonable steps to maintain the property
c. The property has depreciated
d. The debtor fails or refuse to honor a pre-existing agreement
A 29. The following are contents of rehab plan, except?
a. Financial Liabilities
b. Financial goals
c. Establish classes of voting creditors
d. Compare amounts expected to be received
B 30. The court may confirm the rehab plan if all circumstances are present, except?
a. Complies with requirements
b. The creditors support was induced by fraud
c. Rehab receiver confirms the plan
d. Provides the objecting class of creditors
A 31. The following are circumstances to file objections of rehab plan.
a. Rehab plan is not supported by voting debtors
b. Creditors support was induced by fraud
c. Documents are materially false
d. Rehab plan is not supported by voting creditor
A 32. The following are effects of confirmation of rehab plan, except?
a. Claims arising after approval are subject to suspension order
b. Its provision binds upon debtors and all persons affected
c. Debtor shall comply with its provisions
d. Payments shall be made to the creditors
A 33. The following are failure of rehabilitation, except?
a. Disclosure of payments to creditors
b. Dismissal of petition
c. No substantial likelihood that debtor can be rehabilitated
d. Commission of fraud
D 34. The court upon by an affected party may do the following, except?
a. Issue order directing the cure of breach
b. Issue order converting the proceedings to a liquidation
c. Allows debtor to submit amendments to rehab plan
d. Unenforced applicable provisions
D 35. The following are effects of termination, except?
a. Discharge of rehab receiver
b. Lifting of stay order
c. Rehab receiver is discharged, subject to his submission of a final accounting
d. Enforcement of a claim against the debtor
B 36. Petition by debtor includes the following, except?
a. Schedule of debtor’s debts
b. Inventory of debtor’s assets
c. Pre-negotiated rehab plan
d. Summary of disputed claims against the creditor
C 37. The following are contents if issued order, except?
a. Identification of debtor
b. Debtor is under rehab
c. Direct publication in a magazine
d. Summary of grounds for petition
A 38. The following are objections to petition of rehab plan, except?
a. Accurately accounts claims
b. Allegations are misleading
c. Majority do not support rehab plan
d. Support of creditor was induced by fraud
A 39. Minimum requirements of out of court or informal rehab plans, except?
a. The creditor must agree to informal rehab plans
b. It must be approved by 67% of secured obligations
c. It must be approved by 75% of unsecured obligations
d. It must be approved by 85% of secured and unsecured obligations
B 40. The following are acts of insolvency, except?
a. Such person is about to depart
b. Being absent from the Republic of the Philippines without intent to defraud
c. He conceals any of his property to avoid being attached or taken on legal process
d. That he suffered or procured his property
A 41. Liquidation order contains the following, except?
a. Order liquidation of creditor
b. Declare the debtor insolvent
c. Authorize payments of administrative expense
d. Order publication of petition
A 42. The following are effects of liquidation order, except?
a. Separate action for collection of unsecured claim
 b. Juridical debtor is dissolved
c. Legal title is vested
d. All contracts are terminated
A 43. Rights of secured creditor
a. b, c and d
b. Waives his right
c. Prove his claim on the proceeding
d. Maintain his rights under lien
D 44. The court may appoint the liquidator if, except?
a. Creditors do not attend on date of election
b. Creditors fail or refuse to elect a liquidator
c. Liquidator fails to qualify
d. No vacancy occurs
D 45. The following are duties and responsibilities of liquidator.
a. Sue and recover all assets
b. Take possession of all property
c. Redeem mortgages and pledges
d. All of the above
B 46. It enumerates all the assets and claims of the debtors
a. Rehab plan
b. Liquidation plan
c. Financial Statement
d. SAL’N
C 47. The sale of unencumbered assets of debtors, shall be made.
a. At the public market
b. By the creditor
c. By public auction
d. By the liquidator
A 48. The court may issue orders to the provision of the relief, except?
a. b, c & d are orders issued by the court
d. Suspending any action to enforce claims
c. Require surrender of property
d. Provide other necessary relief
A 49. The court shall consider the following factors in granting relief, except?
a. The just treatment of debtor
b. Protection of creditors
c. Foreign proceedings recognizes rights of creditors
d. Inconvenience in pursuing claims in foreign proceedings
B 50. The following are reasons for penalties, except?
a. Hide or conceal or destroy properties of debtors
b. Protects the property of debtor
c. Failure to disclose any person having fictitious claims
d. Knowingly violate a prohibition or obligation
nd such powers are set forth in this Act.
e to pay its debts.

operation and solvency.

nd controlled by parent corporation.

r or officer?

hab, except?
ll be considered an?

owing, except?

ent, except?
legal process
A 1. This is known as the New Central Bank Act.
a. RA 7653.
b. RA 7753.
c. RA 9520.
d. RA 10142.
A 2. The following are mandated responsibilities of the BSP, except?
a. Savings.
b. Money.
c. Banking.
d. Credit.
A 3. The capital of the Bangko Sentral shall be?
a. Fifty billion pesos.
b. Sixty billion pesos.
c. One million pesos.
d. One zillion pesos.
D 4. Who shall provide policy directions in the areas of money, banking, and credit?
a. Government.
b. Public entity.
c. Private entity.
d. Bangko Sentral.
D 5. What is the primary objective of the Bangko Sentral?
a. Promote and maintain monetary stability and the convertibility of the peso.
b. Provide policy directions in the areas of money, banking, and credit.
c. Shall have supervision over the operations of banks and exercise such regulatory powers.
d. To maintain price stability conducive to a balanced and sustainable growth of the economy.
B 6. Where is the principal place of BSP?
a. Makati.
b. Metro Manila.
c. Baguio City.
d. Mindanao.
C 7. The following are corporate powers of BSP, except?
a. Adopt, alter, and use a corporate seal which shall be judicially noticed.
b. To enter into contracts.
c. To sue and not be sued.
d. To lease or own real and personal property.
A 8. The following are corporate powers of BSP, except?
a. Acquire assets and not incur liabilities.
b. To sell or otherwise dispose of the same.
c. To sue and be sued.
 d. To do and perform any and all things that may be necessary or proper to carry out the purposes of t
A 9. Who protects the interests of the Bangko Sentral?
a. Monetary Board.
b. BSP.
c. Government.
d. Any of the above.
B 10. How many members compose the Monetary Board?
a. 6
b. 7
c. 8
d. 9
A 11. Who appoints the members of the Monetary Board?
a. President.
b. Vice-President.
c. Secretary.
d. Senate President.
A 12. Who shall be the Chairman of the Monetary Board?
a. Governor of the Bangko Sentral.
b. Member of the Cabinet.
c. Board members.
d. Any of them.
A 13. Whenever the designated Cabinet Member is unable to attend a meeting of the Board, who shall h
a. Undersecretary.
b. Co-member.
c. Governor.
d. Proxy.
D 14. How many members of the Monetary shall come from private sector?
a. 2
b. 3
c. 4
d. 5
D 15. These members from private sector shall serve?
a. Part-time
b. Night shift
c. Day shift
d. Full-time
B 16. First three members shall have a term of at least?
a. 5 yrs.
b. 6 yrs.
c. 7 yrs.
d. 8 yrs.
C 17. No member of the Monetary Board may be reappointed more than once.
 a. False
b. Not true
c. True
d. It depends
A 18. The following are reasons for vacancy in the Monetary Board, except?
a. Vacation Leave.
b. Death.
c. Resignation.
d. Removal of any member.
A 19. The following are qualifications of the Monetary Board, except?
a. At least be forty (40) years of age.
b. At least be forty (35) years of age.
c. Natural-born citizens of the Philippines.
d. Unquestionable integrity.
B 20. The following are qualifications of the Monetary Board, except?
a. Of good moral character.
b. Shall hold any public office.
c. Of known probity and patriotism.
d. With recognized competence in social and economic disciplines.
A 21. What is the required age of Governor of Monetary Board?
a. 40
b. 35
c. 30
d. 25
A 22. The following are disqualifications of the member of the Monetary Board, except?
a. From private sector.
b. Director.
c. Officer.
d. Employee.
A 23. The President may remove any member of the Monetary Board for any of the following reasons, e
a. If the member is subsequently disqualified under the provisions of Section 18 of this Act.
b. If he is physically or mentally incapacitated that he cannot properly discharge his duties and respon
c. If the member is guilty of acts or operations which are of fraudulent.
d. If the member no longer possesses the qualifications specified in Section 8 of this Act.
D 24. How many time does the Monetary Board meet?
a. Monthly
b. Annually
c. Twice a year
d. Once a week
D 25. Who calls the meeting of the Board?
a. Governor.
b. 2 board members.
 c. Cabinet member.
d. a and b.
B 26. What constitutes a quorum?
a. 3 members
b. 4 members
c. 5 members
d. 6 members
C 27. Unless otherwise provided in this Act, all decisions of the Monetary Board shall require the concurr
a. 2
b. 3
c. 4
d. 5
A 28. Who shall maintain and preserve a complete record of the proceedings and deliberations of the M
a. BSP.
b. Governor.
c. Cabinet members.
d. Board members.
A 29. Complete record of the proceedings includes the following, except?
a. Notes.
b. Tapes.
c. Transcripts of the stenographic notes.
d. Microfilm of tapes and transcripts.
B 30. Who is the chief executive officer of the Bangko Sentral?
a. President.
b. Governor
c. Cabinet member.
d. Deputy Governor.
A 31. The following are the powers and duties of the Governor, except?
a. Does not prepare the agenda for the meetings of the Monetary Board.
b. Execute and administer the policies and measures approved by the Monetary Board.
c. Direct and supervise the operations and internal administration of the Bangko Sentral.
d. Exercise such other powers as may be vested in him by the Monetary Board.
A 32. Who is the principal representative of the Monetary Board and of the Bangko Sentral?
a. Governor.
b. Member.
c. Cabinet member.
d. Board member.
A 33. Who appoints not more than three (3) Deputy Governors who shall perform duties as may be assig
a. Governor.
b. Member.
c. Cabinet member.
d. Board member.
D 34. Personnel of the Bangko Sentral are hereby prohibited from?
a. Being an officer, director, lawyer or agent, employee, consultant or stockholder.
b. Directly or indirectly requesting or receiving any gift, present or pecuniary or material benefit for him
c. Revealing in any manner, except under orders of the court.
d. a, b and c.
D 35. Who revoke the actions of the previous management and board of directors of the bank or quasi-b
a. Deputy.
b. Cabinet member.
c. Governor.
d. Conservator
B 36. Who shall terminate the conservatorship when it is satisfied that the institution can continue to ope
a. Governor.
b. Monetary Board.
c. Cabinet member.
d. Deputy.
C 37. For a quasi-bank, any person of recognized competence in banking or finance may be designed a
a. Conservator.
b. Governor.
c. Receiver.
d. Banker.
A 38. The unit of monetary value in the Philippines is?
a. Peso
b. Yen
c. Dollars
d. Cents
A 39. The unit of monetary value in the Philippines is represented by?
a. P
b. ¥
c. $
d. ¢
B 40. It means all those liabilities of the Bangko Sentral are subject to payment in legal tender upon dem
a. Deposit.
b. Demand deposit.
c. Demand.
d. Cash deposit.
A 41. In order to maintain the international stability and convertibility of the Philippine peso, the Bangko S
a. International reserves.
b. Intentional reserves.
c. Reserve fund.
d. Monetary bank.
A 42. What is/are the composition of international reserve?
a. Gold
 b. Assets in foreign currencies
c. Demand and time deposits in central banks
d. All of the above
A 43. What are the actions when the international stability of the peso is threatened, except?
a. Submit to the Governor the nature and causes of the existing or imminent decline
b. Take such remedial measures
c. Submit the monetary, fiscal or administrative measures further proposed.
d. Submit the remedial measures already taken or to be taken by the Monetary Board
D 44. The Bangko Sentral may engage in foreign exchange transactions with the following, except?
a. Banking institutions operating in the Philippines.
b. The Government, its political subdivisions and instrumentalities.
c. Foreign or international financial institutions.
d. Local governments and their instrumentalities.
D 46. Who shall determine the exchange rate policy of the country?
a. Governor.
b. Monetary Board.
c. BSP.
d. Cabinet Members.
B 47. Who may authorize the Bangko Sentral to grant loans to and receive loans from foreign banks?
a. Governor.
b. Cabinet Members.
c. Monetary Board.
d. BSP.
C 48. The following are authorized types of operations of the Bangko Sentral, except?
a. Storing or perishable goods.
b. Commercial credits.
c. Production credits.
d. Other credits.
A 49. Who shall act as a banker of the Government?
a. Bangko Sentral
b. Monetary Board.
c. Banker.
d. Cabinet members.
A 50. All references to the Central Bank of the Philippines in any law or special charters shall be deemed
a. False
b. True
c. Not true
d. Depends
B 50. The voting rights of members shall be proportional to the number of their paid-up shares.
a. It depends
b. True
c. False
d. Impossible
 h regulatory powers.
rowth of the economy.
r to carry out the purposes of this Act.

eting of the Board, who shall he designate in his Department to attend as his alternate?
oard, except?

any of the following reasons, except?

ction 18 of this Act.
scharge his duties and responsibilities and such incapacity has lasted for more than six (6) months.

tion 8 of this Act.

Board shall require the concurrence of at least how many members?

ngs and deliberations of the Monetary Board?

Monetary Board.
Bangko Sentral.

e Bangko Sentral?

perform duties as may be assigned to them by the Governor and the Board?
niary or material benefit for himself.

directors of the bank or quasi-bank?

institution can continue to operate on its own?

or finance may be designed as?

ment in legal tender upon demand by the presentation of checks.

e Philippine peso, the Bangko Sentral shall maintain?

hreatened, except?
nent decline

onetary Board
with the following, except?

e loans from foreign banks?

ral, except?

ecial charters shall be deemed to refer to the Bangko Sentral.

their paid-up shares.

A 1. It is known as the Secrecy of Bank Deposits Law.
a. RA 1405
b. RA 1450
c. RA 1504
d. RA 1540
A 2. It is their policy to give encouragement to the people to deposit their money in banking institution
a. Government
b. Bangko Sentral
c. Monetary Board
d. Department of Finance
A 3. It is their goal to discourage private hoarding so that the same may be properly utilized by banks
a. Government
b. Bangko Sentral
c. Monetary Board
d. Department of Finance
D 4. The following are Acts or parts of Acts which are inconsistent with the provisions of this Act are h
a. Special Charters
b. Executive Orders
c. Rules and Regulations
d. By-laws
D 5. These are punishments for any violation of this law.
a. Imprisonment of not more than five years
b. Fine of not more than twenty thousand pesos
c. Death Penalty
d. A and B
B 6. An Act that requires the publication of a sworn statement of unclaimed balances in banks once a
a. Act No. 1405
b. Act No. 3936
c. Act No. 3693
d. Act No. 1450
C 7. It is known as the Unclaimed Balances Law.
a. P.D. 56
b. P.D. 3936
c. P.D. 679
d. P.D. 1234
A 8. What language/s used on the Unclaimed Balances Law?
a. English and Spanish
b. English and Filipino
c. Filipino and Spanish
d. Any language will do
A 9. The following are unclaimed balances, except?
a. Withdrawals
 b. Security of Indebtedness
c. Deposits of money
d. Bullion
B 10. The following are institutions within the meaning if this Act, except?
a. Banks
b. Schools
c. Building and Loan Associations
d. Trust Corporations
A 11. The following are contents of the statement, under oath, in favor of the person known to be dea
a. The grave yard address
b. The names and last known place of residence
c. The amount and the date of the outstanding unclaimed balance
d. The interest due on such unclaimed balance
A 12. Who shall inform the Solicitor General from time to time the existence of unclaimed balances?
a. Treasures of the Philippines
b. Secretary of the Philippines
c. President of the Philippines
d. Vice President of the Philippines
A 13. The following can refuse to make and file the sworn statement required by this action, except?
a. Solicitor General
b. president
c. Cashier
d. Managing officer
D 14. The following are language used on the complaint and summons of the defendant bank, excep
a. Spanish
b. English
c. Filipino
d. Local dialect, if published in the locality
D 15. This shall be known as the General Banking Act of 2000.
a. RA 9520
b. Act 2000
c. RA 637
d. RA 337
B 16. Thrift banks are composed of the following, except?
a. Saving banks
b. Universal bank
c. Stock savings bank
d. Mortgage bank
C 17. These are entities engaged in the lending of funds obtained in the form of deposits.
a. Cooperative
b. Corporation
c. Banks
d. Church
A 18. Who supervise the activities and operations of the bank?
a. Bangko Sentral
 b. Monetary Board
c. President
d. Department of Finance
A 19. Supervision shall include the following, except?
a. Inquiring to insolvency and liquidation of the institution
b. Ascertain laws and regulations are complied
c. Enforcing prompt corrective action
d. Conduct examination to determine compliance with laws and regulations
B 20. The Bangko Sentral also supervise the following entities, except?
a. Quasi-banks
b. Cooperative
c. Trust entities
d. Other financial institution
A 21. Who prescribe ratios, limitations, ceilings or other forms of regulation on different type of accou
a. Monetary Board
b. Bangko Sentral
c. President
d. Department of Finance
A 22. How many voting stock of domestic bank does foreign bank need to own?
a. 40%
b. 50%
c. 60%
d. 75%
A 23. In case of merger and consolidation, how many directors are required, it shall not exceed?
a. 21
b. 15
c. 5
d. 10
D 24. All banks including their branches shall operate at least?
a. 8 hours/day
b. 10 hours/day
c. 6 hours/day
d. 4 hours/day
D 25. How many operating hours is required during Saturday, Sunday or holiday?
a. 6 hours
b. 5 hours
c. 4 hours
d. 3 hours
B 26. Who shall define the term “related interest”
a. Bangko Sentral
b. Monetary Board
c. Department of Finance
d. Bank Manager
C 27. These are banks that have the authority to exercise the powers of an investment house and th
a. Rural
 b. Commercial
c. Universal
d. Trust
A 28. These are banks that are created to make needed credit available and readily accessible in the
a. Rural
b. Commercial
c. Universal
d. Trust
A 29. The following are prohibited acts of the banks except?
a. Indirectly engaging in insurance business as insurer
b. Directly engaging in insurance business as insurer
c. Making false entries in any bank report or statement
d. Disclosing to any unauthorized person any information relative to the funds
B 30. The following are prohibited transactions of borrowers of bank, except?
a. Fraudulently overvaluing property offered as security for a loan
b. Processing loans in accordance with the law
c. Furnishing false or misrepresenting or suppressing material facts
d. Attempting to defraud the said bank in the event of a court action
A 31. These are two or more corporations owned or controlled by the same family group or same gro
a. Related interest
b. Related party
c. Merger & consolidation
b. Parent-subsidiary
A 32. It shall mean a person other than an officer or employee of the bank, its subsidiaries or affiliate
a. Independent director
b. Dependent director
c. Interlocking Director
d. Dual Director
A 33. It states that “to maintain the quality of bank management and afford better protection to depos
a. Fit and Proper Rule
b. Related Interest Rule
c. Public First Policy
d. Prudent Man Rule
D 34. The following are prohibitions appointive or elective public official, except?
a. Such service is incident to financial assistance provided by the government or a GOCC to the ba
b. Unless otherwise provided in the Rural Banks Act; or
c. Unless otherwise provided under existing laws.
d. If there is stipulation to the contrary
D 35. It states that “A trust entity shall administer the funds or property under its custody with the dilig
a. Fit and Proper Rule
b. Related Interest Rule
c. Public First Policy
d. Prudent Man Rule
B 36. The following are exceptions of the Self-Dealing Rule, except?
a. The transaction is specifically authorized by the trustor
 b. Purchase debt instruments
c. The relationship of the trustee and the other party involved in the transaction is fully disclosed to
d. The relationship of the trustee and the other party involved in the transaction is fully disclosed to
C 37. Who administer any trust or hold property in trust or on deposit for the use, benefit, or behalf of
a. Trustor
b. Beneficiary
c. Trustee
d. All of the above
A 38. It is any activity resulting from a trustor-trustee relationship (trusteeship)?
a. Trust Business
b. Trusteeship
c. Trustorship
d. Any answer will do
A 39. The following are powers of a trust entity, except?
a. Act as sales agent of real estate
b. Act as trustee on any mortgage or bond
c. Act as the executor of any will
d. Act as administrator of the estate of any deceased person
B 40. The following are powers of conservatorship, except?
a. Take charge of the assets, liabilities, and the management thereof
b. Exercise all powers necessary to unrestored its viability.
c. Reorganize the management,
d. Collect all monies and debts
A 41. The following are conditions in organizing banks, except?
a. The entity is a stock corporation
b. The entity is a non-stock corporation
c. Funds are obtained from the public
d. Minimum capital requirements are satisfied
A 42. Also known as commercial bank
a. Commercial Banking Corporation
b. Savings bank
c. Mortgage bank
d. Foreign Corporation
A 43. It is also known as Trust company
a. Trust Corporation
b. Savings bank
c. mortgage bank
d. Foreign Corporation
D 44. Also known as Savings bank
a. mortgage bank
b. savings and mortgage bank
c. commercial bank
d. a & b
D 45. It is also known as Foreign Bank.
a. Trust Corporation
 b. Savings bank
c. Mortgage bank
d. Foreign Banking Corporation
B 46. Any commercial bank may purchase hold, and convey real estate for the following purposes, e
a. Such as shall be necessary for its immediate accommodation in the transaction of its business
b. Such as shall not be mortgaged to it in good faith by way of security for debts
c. Such as shall be conveyed to it in satisfaction of debts
d. Such as it shall purchase at sales under judgment
C 47. It is any corporation organized primarily for the purpose of accumulating the small savings of d
a. Trust Bank
b. Commercial bank
c. Savings and mortgage bank
d. Foreign bank
A 48. What language/s used on the Unclaimed Balances Law?
a. English and Spanish
b. English and Filipino
c. Filipino and Spanish
d. Any language will do
A 49. The following are unclaimed balances, except?
a. Withdrawals
b. Security of Indebtedness
c. Deposits of money
d. Bullion
B 50. The following are institutions within the meaning if this Act, except?
a. Banks
b. Schools
c. Building and Loan Associations
d. Trust Corporations
money in banking institutions.

e properly utilized by banks in authorized loans to assist in the economic development of the country.

provisions of this Act are hereby repealed, except?

d balances in banks once a week of three consecutive weeks in at least two newspapers.
he person known to be dead and have not made deposits and withdrawals for the past ten years, except?

ce of unclaimed balances?

red by this action, except?

the defendant bank, except?

orm of deposits.
n on different type of accounts of banks?

ed, it shall not exceed?

n investment house and the power to invest in non-allied enterprises.

nd readily accessible in the rural areas.

e family group or same group of persons.

, its subsidiaries or affiliates or related interests.

d better protection to depositors and the public in general”

nment or a GOCC to the bank;

der its custody with the diligence that a prudent man would exercise in the conduct of an enterprise of a like character and w
saction is fully disclosed to the trustor
saction is fully disclosed to the beneficiary
he use, benefit, or behalf of others?
r the following purposes, except?
ransaction of its business

ating the small savings of depositors.

se of a like character and with similar aims”
A 1. This Act is known as the PDIC law.
a. RA 3591
b. RA 952
c. RA 340
d. Act 1234
A 2. The following are members of the Board of directors, except?
a. Two member from public sector
b. Secretary of Finance
c. Governor of the Bangko Sentral
d. President of the Corporation
A 3. How many constitutes a forum?
a. 3
b. 4
c. 5
d. 6
D 4. This is charged by law with the duty to take charge of the assets and liabilities of a bank which h
been forbidden in doing business in the Philippines.
a. Receiver
b. Commission
c. Other agency
D d. All of the above
5. It means the unpaid balance of money or its equivalent received by a bank.
a. Debt
b. Mortgage
c. Bond
B d. Deposit
6. It is any amount due to any bona fide depositor for legitimate deposits in an insured bank.
a. Deposit
b. Insured deposit
c. Debt
C d. Insured debt
7. The insured deposit shall not exceed?
a. 1 000 000
b. 750 000
c. 500 000
A d. 100 000
8. It is a deposit in an insured bank made available to a depositor by a Corporation as payment of
a. Transfer deposit
b. Trust deposit
c. Transfer fund
A d. Trust fund
9. These are funds held by an insured bank with fiduciary capacity.
 a. Trust fund
b. Transfer fund
c. Trust deposit
B d. Transfer deposit
10. As a receiver it controls, manages and administer the affairs of closed bank.
a. Cooperative
b. Corporation
c. Bank
A d. Government
11. The corporation as a corporate body shall the following powers, except?
a. To sue and not be sued
b. To adopt and use a corporate seal
c. To make contracts
A d. To make succession
12. The corporation as a corporate body shall the following powers, except?
a. To not act as receiver
b. To appoint its Board of Directors
c. To conduct examination of banks
A d. To exercise incidental powers
13. How much is the permanent insurance fund?
a. Three billion pesos
b. One million pesos
c. Five hundred thousand pesos
D d. Five billion pesos
12. What is the capital account of the Corporation?
a. Deposit insurance fund
b. Transfer fund
c. Trust fund
D d. Insurance fund
13. Deposit insurance fund shall consist of the following, except?
a. Temporary insurance fund
b. Assessment collection
c. Retained earnings
B d. Reserve for insurance
14. The following are reasons for failure to settle claim within 6 months which shall be subject to
imprisonment of 6 months to one year, except?
a. Gross negligence
b. Bad faith
C c. Grave abuse of discretion
d. All are reasons
15. The following are preventions from closing an insured bank, except?
a. Make loans
b. Purchase the assets
A c. Assume liabilities
d. All are preventions
 16. It refers to the possibility that failure of one bank to settle net transactions with other bank will
trigger a chain reaction.
a. Assessed risk
A b. Systemic risk
c. Audit risk
d. Detection risk
17. It means a likelihood of a sudden, unexpected collapse of confidence in a significant portion of
banking or financial system.
B a. Detection risk
b. Audit risk
c. Systemic risk
d. Assessed risk
18. The following are authorized issuance of a Corporation to provide liquidity for settlement of insu
A deposits in closed banks, except?
a. Debts
b. Bond
c. Debentures
d. Other obligations
A 19. These are issued by Corporation which are exempt from taxation, except?
a. Debts
b. Bond
c. Debentures
d. Other obligations
A 20. The following are penalties in case of willful failure or refusal to pay assessment and interest, e
a. Insured bank
b. Non-insured bank
c. Insured deposits
d. Non-insured deposit
D 24. It is any bank in which the deposits are not insured.
a. Insured deposit
b. Non-insured deposit
c. Insured bank
d. Non-insured bank
D 25. The old PDIC law is also known as?
a. RA 9520
b. RA 1245
c. RA 789
d. RA 9576
B 26. It is known as the Securities Regulation Code.
a. RA 8798
b. RA 8788
c. RA 8791
d. RA 6579
C 27. These are shares, participation and interest in a Corporation.
a. Shares
 b. Participation
c. Securities
d. Interest
A 28. Who is the originator, maker and obligor of security?
a. Issuer
b. Broker
c. Agent
d. Dealer
A 29. Who takes initiative in founding and organizing the business of the issuer?
a. Promoter
b. Dealer
c. Issuer
d. Broker
B 30. He is engaged in the business of buying and selling securities for the account of others.
a. Issuer
b. Broker
c. Dealer
d. Promoter
A 31. A natural person employed as an agent by a dealer, broker or issuer to buy and sell securities.
a. Salesman
b. Saleslady
c. Promoter
d. Agent
A 32. A security evidence by electronic or similar record.
a. Uncertificated security
b. Certificated security
c. Issued security
d. Unissued security
A 33. A document made by or on behalf of the issuer to sell securities to the public.
a. Prospectus
b. Registration Statement
c. Auction
d. Deed of sale
D 34. Who is the chief executive officer of the Commission?
a. Governor of BSP
b. Secretary of Finance
c. Commissioner
d. Chairperson
D 35. The following are the qualifications of the Commissioner, except?
a. Natural-born citizen
b. Of good moral character
c. Has unquestionable integrity
d. Must be 35 years of age
B 36. The following are the qualifications of the Chairperson, except?
a. Natural-born citizen
 b. Must be 40 years of age
c. Has unquestionable integrity
d. Of good moral character
C 37. When does the Commission have its meeting?
a. Once a year
b. Once a month
c. Once a week
d. Daily
A 38. How many Commissioners constitute a quorum?
a. 3
b. 4
c. 5
d. 7
A 39. The following are qualified buyers of securities, except?
a. School
b. Bank
c. Insurance company
d. Pension fund
B 40. The following are rejection and revocation of registration of securities of the issuer, except?
a. He has violated any provisions of this Code
b. He has been judicially declared solvent
c. Failure to comply with the requirements
d. Has made false or misleading statement
A 41. The following are exempt securities, except?
a. Securities guaranteed by Government
b. Securities issued by a receiver
c. Securities issued by the bank except its own shares
d. Securities issued by the bank
A 42. These are contracts which provide for the performance of future services.
a. Pre-need
b. Partnership
c. Life insurance
d. Health insurance
A 43. Who acts as intermediaries in making deliveries upon payment?
a. Clearing Agency
b. Broker
c. Dealer
d. Issuer
D 44. The following are fraudulent transactions, except?
a. Employ schemes to defraud
b. Obtain money or property of any untrue statement
c. Engage in any act deceitful to any person
d. All are fraudulent transactions
D 45. It is an organized market place that brings together buyers and sellers and execute trades of
securities.
 a. Stock market
b. Trade market
c. Block market
B d. Exchange
46. It means the issuer, director, officer controlling the issuer.
a. Dealer
b. Insider
c. Broker
C d. Issuer
47. Who buy and sell security for his own account?
a. Broker
b. Issuer
c. Dealer
A d. Agency
48. How many Commissioner/s does the SEC have?
a. 4
b. 3
c. 2
A d. 1
49. How many Chairperson/s does the SEC have?
a. 1
b. 2
c. 3
B d. 4
50. What does SEC means?
a. Securities and Exchange Commission
b. Security and Exchange Commission
c. Security Exchange Commission
d. Securities Exchange Commission
liabilities of a bank which has

s in an insured bank.

Corporation as payment of insured deposit by such depositor.

which shall be subject to
ctions with other bank will

e in a significant portion of the

quidity for settlement of insured

assessment and interest, except

e account of others.

to buy and sell securities.

s of the issuer, except?

ers and execute trades of

A 1. An act defining the crime of money laundering.
a. RA 9160
b. RA 9061
c. RA 9523
d. RA 256
A 2. The following are covered institutions, except?
a. School
b. Insurance company
c. Banks
d. Quasi-banks
A 3. A combination of transactions involving a total amount in excess of 4 million pesos.
a. Covered transaction
b. Covered institutions
c. Monetary transaction
d. Transaction
D 4. The following are monetary instruments, except?
a. Coins
b. Drafts
c. Checks
d. All are monetary instrument
D 5. It refers to an amount derived from an unlawful activity.
a. Dirty money
b. Unlawful activity
c. Money
d. Proceeds
B 6. It refers to a person who commits a money laundering activity.
a. Person
b. Offender
c. Defender
d. Plaintiff
C 7. It refers to any act or obligation giving rise to any contractual or legal relationship between partie
a. Covered transaction
b. Proceeds
c. Transaction
d. Crime
A 8. The following are unlawful activities, except?
a. Trading
b. Kidnapping
c. Plunder
d. Robbery
A 9. A crime whereby the proceeds of unlawful activity are transacted.
a. Money Laundering
 b. Robbery
c. Extortion
d. Plunder
B 10. This is issued upon determination that probable cause exists related to unlawful activity.
a. Warrant arrest
b. Freeze order
c. Search warrant
d. Any of the above
A 11. Covered institutions shall establish and record the true identity of its clients based on official do
a. Customer identification
b. Record keeping
c. Recording of covered transactions
b. Record customer identification
A 12. When there is covered transaction report made, a petition is filed for the purpose ordered seizu
a. Civil forfeiture
b. Claim on forfeited asset
c. Payment in lieu of forfeiture
d. Record keeping
A 13. Where the court has issued an order of forfeiture of a monetary instrument in a criminal persec
a. Claim on forfeited asset
b. Civil forfeiture
c. Payment in lieu of payment
d. Customer identification
D 14. The following are supervisory authorities, except?
a. BSP
b. SEC
c. IC
d. BIR
D 15. An act where someone directly/indirectly request or receive any gift for his benefit in connection
a. Extortion
b. Robbery
c. Fixing
d. Graft and corruption
B 16. It is a misuse or malversation of public funds.
a. Robbery
b. Plunder
c. Extortion
d. Graft
C 17. The following are examples of smuggling, except?
a. Fraudulent importation/exportation of any vehicle
b. Fraudulent practices against customs revenue
c. Graft and corruption
d. Assisting in fraudulent importation.
A 18. An unauthorized access or interference into a computer system.
a. Cracking
 b. Piracy
c. Smuggling
d. Plunder
A 19. An unauthorized copying and reproduction.
a. Piracy
b. Hacking
c. Cracking
d. Smuggling
B 20. Who is responsible on having jurisdictions to try all cases on money laundering?
a. Supreme Court
b. Regional Trial Court
c. Department of Justice
d. Bangko Sentral
A 21. It is otherwise known as The Anti-Bouncing Check Law.
a. BP 22
b. BP 23
c. PD 23
d. PD 22
A 22. Which of the following is/are penalties of any person who issue checks without sufficient fund?
a. b, c and d
b. Imprisonment not less than 30 days
c. Imprisonment not more than 1 year
d. Fine not exceeding 200,000
A 23. Which of the following are evidence of knowledge of insufficient fund?
a. All mentioned below
b. Making of check
c. Issuing of check
d. Drawing of check
D 24. It is an arrangement or understanding with the bank for the payment of such check.
a. Contract
b. Notes
c. Debit
d. Credit
D 25. When was the BP 22 approved?
a. January 1, 2000
b. April 15, 1979
c. January 1, 1979
d. April 3, 1979
B 26. How many incorporators is needed to form a Corporation on the new code?
a. 2
b. 1-15
c. 3
d. 5-15
C 27. How many incorporators is needed to form a Corporation on the old code?
a. 1-15
 b. 3
c. 5-15
d. 2
A 28. A type of corporation required to elect a compliance officer upon organization.
a. Public
b. De facto
c. Private
d. Ecclesiastical
A 29. How many percent of the board shall be composed of independent directors in a public corpora
a. 20%
b. 25%
c. 50%
d. 75%
B 30. This requirement is removed for the benefit of small to medium-sized enterprises.
a. Authorized capital stock
b. Minimum capital stock
c. Subscribed capital stock
d. Subscribed shares
A 31. How long is the corporate term of a corporation on the old code?
a. 50 years
b. Perpetual existence
c. 45 years
d. Very long
A 32. How long is the corporate term of a corporation on the new code?
a. Perpetual existence
b. 45 years
c. 50 years
d. Very long
A 33. How long is the allowed period for a Corporation to commence corporate operations on the new
a. 5 years
b. 4 years
c. 3 years
d. 2 years
D 34. How long is the allowed period for a Corporation to commence corporate operations on the old
a. 5 years
b. 4 years
c. 3 years
d. 2 years
D 35. How long is the inoperative period of a corporation to be delinquent?
a. 2years
b. 3 years
c. 4 years
d. 5 years
B 36. How long is the allowed period for the delinquent corporation to resume its operations?
a. 1 year
 b. 2 years
c. 3 years
d. 4 years
C 37. These are written notices of regular stockholders meeting sent through mail.
a. Remote participation
b. Monitoring system
c. Electronic filing
d. Electronic notices
A 38. The following are examples of remote communication, except?
a. Letters
b. Teleconferencing
c. Other alternative of communication
d. Videoconferencing
A 39. This corporation is banned from giving donations to political parties and candidates on the new
a. Foreign
b. Public
c. Private
d. De facto
B 40. This corporation is banned from giving donations to political parties and candidates on the old c
a. Foreign
b. Foreign and domestic
c. Domestic
d. Either a or c
A 41. It is known as the Corporation Code of the Philippines.
a. BP 68
b. BP 22
c. RA 11232
d. PD 68
A 42. It is known as the Revised Corporation Code of the Philippines.
a. RA 11232
b. BP 68
c. BP 22
c. PD 68
A 43. The New Code allows this to be created when the vacancy in the board prevents the remaining
a. Emergency board
b. Proxy
c. Emergency meeting
d. Representative
D 44. Which of the following is/are violation of the Consumer Act using electronic messages?
a. Revealing trade secrets
b. Alteration of labeling
c. Violation of price tag requirement
d. All are violations
D 45. Which of the following are examples of swindling?
a. Unfaithfulness or abuse of confidence
 b. Staffa with the use if fictitious names
c. Destroying court records
d. All are swindling acts
B 46. The following are examples of robbery and extortion, except?
a. Robbery with violence
b. Graft and corruption
c. Robbery with intimidation
d. Robbery in uninhabited house
C 47. The following are places mentioned under the Revised Penal Code where robbery and extortio
a. Uninhabited place
b. Public building
c. Public school
d. Edifice
A 48.Which of the following are piracy on the high seas?
a. All mentioned below
b. Piracy on the Philippine sea water
c. Aiding pirates and brigands
d Abetting pirates and brigands
A 49. These are securities, commercial papers, bonds, coins and checks.
a. Monetary instrument
b. Legal tender
c. Bullion
d. Money
B 50. These are moneys, expenditures, disbursements and payments.
a. Money
b. Proceeds
c. Credit
d. Monetary instrument
million pesos.

relationship between parties.

d to unlawful activity.

clients based on official documents.

the purpose ordered seizure of any monetary instrument.

rument in a criminal persecution.

for his benefit in connection with transaction on the Government.

 laundering?

cks without sufficient fund?

t of such check.
directors in a public corporation?

d enterprises.

orate operations on the new code?

orate operations on the old code?

ume its operations?

and candidates on the new code.

and candidates on the old code.

ard prevents the remaining directors to constitute a quorum.

ctronic messages?
where robbery and extortion happens, except?
A 1. This Act shall be known as the “Intellectual Property Code of the Philippines”
a. RA 8293
b. RA 9520
c. RA 10142
d. RA 1234
A 2. The term “Intellectual property rights” consists of the following, except?
a. Scientific theory
b. Copyright
c. Patents
d. Trademarks
A 3. It refers to contracts or agreement involving the transfer of systematic knowledge for the manufa
a. Technology transfer arrangement
b. Copyright
c. License
d. Trademark
D 4. The following are functions of the Intellectual Property Office, except?
a. Examine applications of patent
b. Register technology transfer arrangement
c. Promote the use of patent information
d. All are functions of IPO
D 5. Who shall have custody of all records, books, drawings and other papers?
a. Governor
b. Deputy General
c. Bureau of Trademarks
d. Office
B 6. Who search, grant and examine application of patents?
a. Bureau of Trademarks
b. Bureaus of Patents
c. Bureau of Legal Affairs
d. a or c
C 7. Who conducts studies and researches on the field of trademarks?
a. Bureau of Patents
b. Bureau of Legal Affairs
c. Bureau of Trademarks
d. a or b
A 8. Who hears and decides on the opposition to the application for registration of marks?
a. Bureau of Legal Affairs
b. Bureau of Trademarks
c. Bureau of Patents
d. b or c
A 9. The following are functions of the Documentation, Information and Transfer Technology Bureau,
a. Provide management information support and services.
b. Establish networks and intermediaries
 c. Educate the public and build awareness
d. Perform state-of-the-art searches
B 10. The following are non-patentable inventions, except?
a. Scientific theory
b. New inventions
c. Computer programs
d. Plant varieties
A 11. It is an invention not be considered new because it forms part of a prior art.
a. Novelty
b. Patent
c. Copyright
d. Discovery
A 12. The right of patent belongs to the following, except?
a. Friends
b. Inventor
c. Heir
d. Assigns
A 13. The following are contents of patent application, except?
a. Does not identify the inventor
b. Request for grant of patent
c. Description of patent
d. Abstract
D 14. The request for grant of patent shall contain the following, except?
a. Petition for the grant
b. Name of the applicant
c. The inventor
d. The assistant
D 15. Who grants license to other person?
a. Licensee
b. Pantentor
c. Grantor
d. Licensor
B 16. Who is entitled to use license of the Licensor?
a. Patentor
b. Licensee
c. Grantor
d. Franchisee
C 17. It is any composition of lines or colors or any three-dimensional form.
a. Design
b. Lay-out
c. Industrial Design
d. Lay-out design
A 18. Who grants compulsory licensing?
a. Director of Legal Affairs
b. Director of Patent
 c. Director of Trademark
d. Director of licensing
A 19. It must be in writing, acknowledged before a notary public.
a. Assignment
b. Contract
c. Negotiable Instruments
d. Patent
B 20. Who records assignments, licenses and other instruments relating to transmission of any right?
a. Director
b. Office
c. Recorder
d. Licensor
A 21. The licensee may surrender the license by a written declaration submitted to the Office.
a. True
b. False
c. It depends
d. Impossible
A 22. No patent may be granted unless the application identifies the inventor.
a. True
b. False
c. It depends
d. Impossible
A 23. When two or more persons have jointly made and invention, the right to patent shall belong to
a. True
b. False
c. It depends
d. Impossible
D 24. This provision shall apply to micro-organisms and non-biological process.
a. Impossible
b. It depends
c. True
d. False
D 25. It means the date of filing of the foreign application for the same invention.
a. Filing date
b. April 15
c. January 1
d. Priority date
B 26. Non-patentable inventions shall be included from patent protections.
a. True
b. False
c. It depends
d. Impossible
C 27. Who formulate and manage a financial program to ensure availability and proper utilization of f
a. Human Resource
b. Research and Development
 c. Financial Services
d. Marketing Department
A 28. Who shall have a first term of seven years?
a. Director General
b. General
c. Deputy General
d. Deputy Director General
A 29. Who imposes administrative penalties?
a. Director of legal affairs
b. Director of patent
c. Director of trademark
d. Director general
B 30. It means the rules of practice in patent cases formulated by the Director of Patents and promul
a. Rules
b. Regulations
c. Order
d. Practice
c knowledge for the manufacture of a product.

ration of marks?

ansfer Technology Bureau, except?

o transmission of any right?

mitted to the Office.

ht to patent shall belong to them jointly.

y and proper utilization of funds?

ctor of Patents and promulgated by the Director General.