CD131 3rd Quiz

The authority responsible for regulating cooperatives in the Philippines is:

• Philippine National Bank

• Department of Labor

• Cooperative Development Authority

• Department of Agriculture

The primary purpose of forming a cooperative is to:

• Increase individual wealth

• Address common problems and needs

• Avoid taxes

• Compete with large corporations

Termination of membership can occur if a member:

• Fails to attend social events

• Violates cooperative bylaws

• Relocates

• Reaches retirement age

Associate members do not have the right to:

• Receive dividends

• Vote or be voted upon

• Use cooperative services

• Pay membership dues

Regular members of a cooperative:

• Have voting rights

• Cannot own shares

• Pay no membership fees

• Are part-time members

If a cooperative’s registration is denied, it can appeal to:

• The Office of the President

• The city council

• The CDA Board

• The Supreme Court

The cooperative’s life term under RA 9520 is:

• 25 years

• 50 years

• 75 years

• 100 years

A cooperative's board must have at least:

• 2 members

• 5 members

• 10 members

• 20 members

Cooperatives are registered with:

• Department of Trade and Industry

• Cooperative Development Authority

• Securities and Exchange Commission

• Local government units

Before joining, prospective cooperative members must complete:

• An online training

• PMES (Pre-Membership Education Seminar)

• Financial seminars

• An internship