Sample Questions on Microfinance

Republic Act 10693 is also known as “Microfinance NGOs Act.”

• TRUE

• FALSE

Microfinance provides service to people who are underserved by commercial banks.

• TRUE

• FALSE

Microfinance serves people who can provide collateral for their loan.

• TRUE

• FALSE

Members of Microfinance are mostly women. TRUE

• TRUE

• FALSE

JP Morgan is a global nonprofit organization founded in 1997 by Alex Counts, inspired by the work of Nobel laureate Muhammad Yunus and his Grameen Bank.

• TRUE

• FALSE

These are people served by Microfinance Institutions:

• Low-income families

• Poor people

• People with lack access to commercial banks.

• Urban families

Microfinance's dynamics include:

I. Providing services to wider geographical areas and diverse markets, including multinational corporations. II. Effectively mitigating risks
III. Balancing financial sustainability
IV. Prioritizing borrowers who are connected to politicians

• The first statement only

• Second and third statements

• First and last statements

• All statements

These loans are granted to the basic sector for their microenterprises or small businesses. The amount of these loans is capped at P300,000.

• Microenterprise Loans

• Housing Microfinance Loans

• Micro-Agri Loans

• Microfinance Plus

Microfinance employs cutting-edge technology and approaches that have effectively delivered suitable financing to micro-entrepreneurs who were once overlooked by the traditional banking system.

• TRUE

• FALSE

In 2011, the BSP released Circular 694, which broadened the scope of microfinance products to include microfinance savings accounts, also known as microdeposits.

• TRUE

• FALSE