Banking in the Philippines Quiz

When was the Central Bank of the Philippines (Bangko Sentral ng Pilipinas) established?

• 1948

• 1939

• 1993

• 1900

Who was the first governor of the Central Bank of the Philippines?

• Felipe M. Medalla

• Manuel Roxas

• Miguel Cuaderno, Sr.

• Elpidio Quirino

What is the primary objective of the Bangko Sentral ng Pilipinas (BSP)?

• Promote and maintain price stability

• Increase inflation rates

• Encourage currency devaluation

• Control foreign exchange rates

Which sector of the BSP is responsible for enforcing and monitoring compliance to banking laws?

• Security Plant Complex

• Resource Management Sector

• Supervision and Examination Sector

• Monetary Stability Sector

Where is the BSP Main Complex located?

• Quezon City

• La Union

• Cebu City

• Manila

What is the main function of depository financial institutions?

• Produce currency notes and coins

• Channel depositors' money into lending activities

• Sell securities to the public

• Provide insurance policies

What is the role of nondepository financial institutions?

• Accept public deposits

• Fund investment activities directly from financial markets

• Issue national currency

• Supervise banks

Who is the chief executive officer of the BSP?

• Armando L. Suratos

• Felipe M. Medalla

• BSP Governor

• Alfredo C. Antonio

What is the primary responsibility of the BSP in terms of exchange rate policy?

• Control inflation rates

• Ensure currency devaluation

• Supervise banks

• Determine exchange rate policy

What is the main objective of financial institutions?

• Encourage inflation rates

• Increase risks and reduce returns

• Promote currency devaluation

• Maintain balance between returns and risks