1. All deposits of whatever nature with banks or banking institutions in the Philippines including any investment in bonds are covered by Bank Secrecy Law. A. True B. False

2. Foreign currency deposits in banks are not absolutely confidential and can always be disclosed to third parties. A. True B. False

3. Foreign bank deposits can be examined, inquired or looked into when there is a written permission or consent of the depositor under Section 8 of Foreign Currency Deposits Act (RA 6426). A. True B. False

4. S1: Trust Accounts are not covered by Bank Secrecy Laws. S2: Investments in government bonds are not covered by Bank Secrecy Law. A. Only S1 is true B. Only S2 is true C. Both statements are true D. Both statements are false

5. Which of the following are accounts covered by the bank secrecy law? A. Trust account B. Time deposit account C. Investment in government bonds D. All of these

6. These are money or funds placed with a bank that can be withdrawn on the depositor's order or demand such as those in the form of savings, current and time deposits. A. Withdrawals B. Deposits C. Investments

7. S1: Foreign currency deposits are generally exempt from garnishment. S2: To encourage the people to deposit their money in banking institutions is a purpose why RA 1405 was imposed. A. S1 is true. B. S2 is true. C. Both statements are true. D. Both statements are false.

8. This government subdivision, in some cases, need not to acquire court approval for it to proceed to the examination of deposit information when the cause involves the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. A. PDIC B. BSP C. AMLC D. Monetary Board

9. The following are the government departments and instrumentalities allowed to examine deposits and bond investments given the appropriate scenarios listed under the law. Which is not? A. Department of Finance

B. Commission on Audit C. Monetary Board D. Presidential Commission on Good Governance

10. What is R.A. No. 3019 A. Anti-Graft and Corrupt Practices Act B. Anti-Corrupt and Graft Practices Act C. Anti-Corruption and Graft Practices Act D. Bank Secrecy Law

11. S1: Deposits are characterized as being in the nature of a simple loan. S2: The placing of deposits in a bank creates a creditor-debtor relationship between the depositor and the bank, respectively. A. Only S1 is incorrect. B. Only S2 is incorrect. C. Both statements are correct. D. Both statements are incorrect.