PAD RETOOLING 2023

The PDIC is a government instrumentality created on ________ by RA no. 3591

• JUNE 22, 1963

• JUNE 23, 1963

• JULY 23, 1963

• JULY 22, 1962

If you have deposits at the main office and at one or more branches of the same bank, the said deposits are insured separately up to the MDIC of P500,000.

• TRUE

• FALSE

What does MDIC stand for?

• Multimedia Databases and Image Communication

• Maximum Deposit Insurance Coverage

• Maximum Deposit Insurance Corporation

All statements are true except:

• PDIC provides MDIC of P500k per depositor per bank

• All deposit accounts of a depositor in a closed bank maintained in the same right and capacity shall be added together

• Covers all types of bank deposits in local banks only

• A joint account shall be insured separately from any individually-owned deposit account

PDIC is established to promote and safeguard the interests of the depositing public by way of providing  __________  coverage on all insured deposits.

All of the items below are basic requirements in filing deposit insurance claim, EXCEPT:

• Evidence of deposit

• Valid ID

• Notarized claim form

• Official Receipts

The prescriptive period for filing a deposit insurance claim is _____ (in words) years from bank ​takeover date.​

If the bank was taken-over on November 5, 2021, what is the prescriptive period for filing of deposit insurance claim?

• November 5, 2022

• November 3, 2023

• November 6, 2023

• November 5, 2023

A bank granted by the Bangko Sentral ng Pilipinas with the authority to perform banking operations may choose not to be insured with PDIC.

• TRUE

• FALSE

The two major PDIC mandates are _______________ and deposit insurer.