Bank of the Philippines Quiz

The charter of which CBP was molded from.

• Bank of Guatemala

• Bank of Japan

• Bank of England

• Bangko Sentral ng Pilipinas

BSP provides foreign exchange to the government for the importation of goods and services and for the payment of foreign debts.

• Government's Banker

• Banking Supervision

• Interval Reserves Management

• Payment System

I. Central banks provide loans and services for a nation’s banks and its government ad manage foreign exchange reserves.

II. Central banks may purchase government debt obligations or securities for example, as an alternative to taxation when a government needs to increase revenue.

• Statement 1 is true

• Statement 2 is true

• Both statement are true

• Both statement are false

The President may remove any member of the monetary board in which cases?

I. Subsequently or no longer possesses the qualifications of RA 7653 Sec. 8

II. Physically or mentally incapacitated that he cannot properly discharge his duties and responsibilities and such incapacity has lasted for more than 6 years.

III. Member is guilty of acts or operations which are of fraudulent or illegal character or which are manifestly opposed to the aims and interests of the Bangko Sentral

• Only Statement I is true

• III and I are true

• I and II are true

• All statement are true

Arrange according to currency life cycle:

a. Anti-counterfeiting Operations

b. Production

c. Deposit and Verification

d. Distribution

e. Retirement

• B, D, C, A, E

• E, A, D, B, C

• A, B, C, D, E

• C, D, E, B, A

I. Exchange rate movements can affect actual inflation as well as expectations about future price movements.

II. Exchange rate serves as the basic ink between the local and the overseas market for various goods, services, and financial assets.

• Both are true

• Statement 1 is true

• Statement 2 is true

• Both statement are false

The first governor of Central Bank of the Philippines.

• Miguel Cuaderno Sr.

• Ralph Recto

• Benjamin Diokno

• Nestor Espenilla Jr.

The Governor of the Bangko Sentral, with approval of the Monetary Board, shall appoint not more than _____________ who shall perform duties as may be assigned to them by Governor and the Board.

• 3 Deputy Governors

• 2 Deputy Governors

• 4 Deputy Governors

• 5 Deputy Governors

BSP governor should be at least.

• 40 years of age

• 30 years of age

• 50 years of age

• 60 years of age

These are the Primary objectives of BSP. What does not belong to the group?

I. Price Stability

II. Financial Stability

III. Safe, secure, and efficient settlements system

IV. Convertibility of the Peso

• III. Safe, secure, and efficient settlements system

• IV. Convertibility of the Peso

• Price Stability

• Financial Stability