1) The following are the modes of transfer of ownership of shares of stocks, except:

a. Indorsement and delivery of stock certificate aid to issue a new certificate;

b. Transfer made in a separate instrument in case of assignment of shares of stocks;

c. Judicial or extrajudicial settlement of estate;

d. Pledge of certificate of stocks.

2)Which of the following statements concerning shares of stocks in incorrect?

a. It constitutes intangible personal property of the shareholder;

b. It represents aliquot parts of the corporation's capital and this interest is indirect, contingent, remote, conjectural, consequential and collateral;

c. It represents an inchoate interest or a sheer expectancy of a right in the management of the corporation and to share in the profits and net assets of the corporation after payment of corporate debts;

d. It represents proprietary right of stockholder to the assets of the corporation or proprietary claim of co-ownership in the assets of the corporation.