This shall refer to the person or persons, natural or juridical, appointed as such by the court pursuant to this Act and which shall be entrusted with such powers and duties as set forth in the act

One of the cooperative principles that emphasizes, self-help organizations controlled by their members. If they enter into agreements with other organizations, including government, or raise capital from external sources, they shall do so on terms that ensure democratic control of their members and maintain their cooperative autonomy

This shall mean the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations pertaining to cooperatives, as provided by the Code, its articles of cooperation and bylaws

Which of the following is LEAST correct?

Who among the followings can avail the remedy of suspension of payments?

Which of the following is LEAST correct?

Who among the following are not the elected official of cooperatives?

For individual debtors, liquidation proceedings may be filed when liabilities exceed assets, and the total debts

_________________may file a verified petition for liquidation in the Regional Trial Court which has jurisdiction over its principal office as specified in its articles of incorporation or partnership

Which among the following is not the required audit function by the Cooperative Code?

Which among the following are not among the instances under the law where bank deposits or investment in government bonds may be disclosed or looked into.

The purpose of this agency is to maintain fair pricing for insurance products, protecting the solvency of insurance companies preventing unfair practice

I. Once you have given the receipt of the requirements set by the BIR that is the only time where the BIR will inform the client when the documents are ready for claiming.

II. BIR is the sole national government agency that regulates the country’s finances .

How much is the the capitalization of BSP?

Which among the following is NOT among the primary objectives of BSP?

Does the BSP possess power to issue subpoena ?

Which of the following is not correct?

Which of the following is NOT correct?

Membership with PDIC is mandatory for all banks licensed by the BSP to operate in the Philippines which includes, except

Which of the following are not excluded from PDIC deposit insurance, whether they are denominated, documented, recorded or booked as deposit by the bank

I. A deposit insurance is essentially the assured amount a bank depositor gets in the case that the bank cannot fulfill its obligations.

II. It is mandatory by law and is designed to maintain financial stability

Which among the following unlawful acts are not covered by AMLA?

Which of the following is NOT true on AMLA Law?

One organized for the primary purpose of providing a wide range of financial services to group of people who assemble themselves under RA 9520 and their members which is under the supervision of both BSP and CDA.

“In Trust For” (ITF) account, “Patricia In Trust For Johnny,” Johnny is considered the depositor

It shall be unlawful for any official or employee of a banking institution to disclose to any person other than those mentioned in Section two hereof any information concerning said deposits

In an account with combined and FAO/ITF, “Michael and/or Mark In Trust For Ezekiel, “ Michael or Mark is considered the depositor

If a depositor is the sole beneficial owner of a single “For the Account of”, “By” and “In Trust For” accounts, the consolidated balances of these accounts shall be insured up to P500,000. Each depositor’s total shares in all of his/her joint accounts shall be separately insured up to P500,000

Member in the cooperative includes a person either natural or juridical who adhering to the principles set forth in this Code and in the Articles of Cooperative, has been admitted by the cooperative as member

All deposits of whatever nature with banks or banking institutions in the Philippines including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are hereby considered as of an relatively confidential nature and may be examined, inquired or looked into by any person

Any violation of this law will subject offender upon conviction, to an imprisonment of not more than three years or a fine of not more than twenty thousand pesos or both, in the discretion of the court.

Revenue Regulations (RR) are issuances signed by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of the National Internal Revenue Code (NIRC) and related statutes.

A voluntary court-supervised rehabilitation may be initiated by the insolvent debtor through a verified petition, accompanied by: the approval of the owner in case of sole proprietorship; an approval by majority vote of the partners in case of partnership; or an approval by a majority vote of the board of directors or trustees, with authority from the stockholders or members representing at least two-thirds (2/3) of the outstanding capital stock or the members, in a meeting duly called for the purpose.

It is hereby declared to be the policy of the State to strengthen the mandatory deposit insurance coverage system to generate, preserve, maintain faith and confidence in the country’s banking system, and protect it from illegal schemes and machinations. It is hereby declared to be the policy of the State to strengthen the mandatory deposit insurance coverage system to generate, preserve, maintain faith and confidence in the country’s banking system, and protect it from illegal schemes and machinations.

Each member of a primary cooperative shall have only one (1) vote

The AMLC functions as regulator, financial intelligence unit and law enforcement agency. Its mandate includes protecting the Philippines’ financial system from criminal activities and extending cooperation to other international financial regulators engaged in money laundering investigations

All deposits of whatever nature with banks or banking institutions in the Philippines including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are hereby considered as of an relatively confidential nature and may be examined, inquired or looked into by any person

Any violation of this law will subject offender upon conviction, to an imprisonment of not more than three years or a fine of not more than twenty thousand pesos or both, in the discretion of the court

1. Five (5) or more natural persons who are Filipino citizens, of legal age, having a common bond of interest and are actually residing or working in the intended area of operation, may organize a primary cooperative under the Code. ( False)

An associate member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership

The AMLA investigates money laundering and other financial crimes to protect financial institutions and deter criminals from making the Philippines a money laundering site for criminal proceeds

An associate member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership

The Government to give encouragement to the people to deposit their money in banking institutions and to discourage private hoarding so that the same may be properly utilized by banks in authorized loans to assist in the economic development of the country

Any violation of Bank Secrecy Law will subject offender upon conviction, to an imprisonment of not more than five years and a fine of not more than twenty thousand pesos or both, in the discretion of the court

The basic principle of insurance is to spread risk among a larger number of people thereby allowing these people to weather a loss since their respective share of risks are smaller and thus more manageable

The Anti-Money Laundering Act 2001 generally requires fintechs and other obligated institutions to monitor customer transactions on an ongoing basis in order to detect suspicious activity and promote money laundering

The SEC is involved in policymaking and has the power to investigate any violations of securities laws

Philippine Deposit Insurance Corporation hereinafter referred to as the ‘Corporation’ which shall insure as herein provided, the deposits of all banks which are entitled to the benefits of insurance and which shall have the powers hereinafter granted

It shall be unlawful for any official or employee of a banking institution to disclose to any person other than those mentioned in Section two hereof any information concerning said deposits

The purpose of Bangko Sentral ng Pilipinas is to maintain fair pricing for insurance products, protecting the solvency of insurance companies, preventing unfair practices by insurance companies, and ensuring availability of insurance coverage

Unless otherwise provided in the Cooperative Code, the direction and management of the affairs of a cooperative shall be vested in a board of directors which shall be composed of not less that five (5) nor more than fifteen (15) members elected by the general assembly for a term of one (1) year and shall hold office until their successors are duly elected an qualified, or until duly removed for caused

Corporate liquidation is a remedy for corporations, partnerships and associations which foresee the impossibility of meeting their debts when they respectively fall due with an end view to restore and reinstate them to their former position of successful operation and solvency