Remedial 101 | June 08, 2023

 

01. CRMD stands for

• A. Collection and Remedial Management Department

• B. Collection and Recovery Management Division

• C. Collection and Remedial Management Division

• D. Credit and Remedial Management Division

02. The following are Units under Remedial Administration Department except

• A. Foreclosure and Consolidation Unit

• B. Implementation and Contested Unit

• C. Legal Operations Unit

• D. Asset Recovery and Management Unit

03. Upon reaching how many days past due that the account will be automatically endorsed to Remedial?

• A. 60

• B. 90

• C. 180

• D. 360

04. Which of the following is a reason for early endorsement of accounts to legal?

• A. Non Starter

• B Fraud

• C. Chronic Delinquent

• D. All of the above

05. Automatic Debit will no longer trigger once account is referred to legal

• A. True

• B. False

06. Which of the following type of cases can be filed on delinquent borrowers?

• A. Replevin Case

• B. Sum of Money

• C. Deficiency

• D. All of the above

7. 07. Which of the following documents are needed for the filling of Extra Judicial Foreclosure?

• A. Promissory Note (PN) / Real Estate Mortgage (REM)

• B. Transfer Certificate of Title (TCT)

• C. Appraisal Report

• D. All of the above

8. Which of the following is a criminal case that can be filed by the bank to sue borrowers who issues worthless/bouncing checks in the payment of loans

• A. Violation of Article 319

• B. Deficiency Case

• C. BP 22

• D. Replevin Case

09. A process by which a mortgagee appropriates a collateral to be able to recover a mortgage loan

• A. Foreclosure

• B. Consolidation

• C. Ejectment

• D. Buy back

10. The redemption period prescribed by law within which a borrower-mortgagor may redeem his property subject of foreclosure of Real Estate Mortgage

• A. 1 year after annotation/ registration of COS

• B. 6 months after annotation/registration of COS

• C. 30 days after annotation/registration of COS

• D. 3 years after annotation/registation of COS