KOOP Quiz Bee #2

What is the official title of Republic Act No. 9520?

• The Cooperative Code of the Philippines

• The Philippine Cooperative Code of 2008

• The Cooperative Development Act

• The Philippine Cooperatives Law

What is the primary objective of every cooperative under RA 9520?

• To generate maximum profit for its shareholders.

• To help improve the quality of life of its members.

• To compete with multinational corporations.

• To provide services exclusively to the government

A cooperative that combines two or more of the business activities of different types of cooperatives is called a:

• Conglomerate Cooperative

• Multi-Purpose Cooperative

• Tertiary Cooperative

• Diversified Cooperative

The "Concern for Community" principle states that cooperatives work for the sustainable development of their communities through:

• Government mandates

• Policies approved by their members

• Directives from the CDA

• The discretion of the General Manager

The full membership of the cooperative, duly assembled for the purpose of exercising all the rights and performing all the obligations of the cooperative, is called the:

• Board of Directors

• Representative Assembly

• General Assembly

• Management Committee

What is the term for a procedure where a cooperative assesses its social impact and ethical performance?

• Financial Audit

• Performance Audit

• Social Audit

• Compliance Audit

A cooperative that engages in the supply of production inputs to members and markets their products is a:

• Service Cooperative

• Producers Cooperative

• Marketing Cooperative

• Consumers Cooperative

The principle of "Autonomy and Independence" means that cooperatives are:

• Exempt from all government regulations.

• Self-help organizations controlled by their members.

• Not allowed to partner with any other organization.

• Independent from their members' control

A quorum for a General Assembly meeting is at least what percentage of all the members entitled to vote?

• 10%

• 25%

• 50% plus one

• Two-thirds (2/3)

What is the term for the portion of a cooperative's net surplus paid to members as a return on their capital investment or shares?

• Patronage Refund

• Dividend

• Service Fee

• Optional Fund