1. Which of the statement is incorrect?

a. Estafa is accountable for falsifying a commercial document by the president who fraudulently claimed that someone else requested for a loan from a bank in order to receive one.

b. The borrower is not required to repay the loan because the contract is null and void.

c. A bank's president is in violation of the law just for trying to get a loan from the bank without getting the majority of the directors' consent.

d. A bank's president is responsible for breaking the law if they acquired a loan from the bank without following the rules and falsely claimed that someone else did.

2. M is a director in MNM Bank. He intends to obtain a P4,000,000 housing loan from MNM Bank. With this,

a. No waiver is required of M if M will be able to secure the approval of the BOD without her vote.

b. No waiver is required of M considering there is no showing that the loan exceeded 10% of the cash position of HERSHEY Bank

c. M is required to execute a written waiver of secrecy of bank deposits.

d. M has impliedly waived the secrecy of his bank deposits.

3. Which of the following statement is incorrect?

a. The loan is restricted to the sum of their paid-in capital stock and unencumbered deposits. b. Loans that the Monetary Board deems to be non-risky will not count toward the ceiling. c. The law covers loans made in the form of fringe benefits.

d. The conditions cannot be less beneficial to the bank than those that are being given to others.

4. Which of the following is not a requirement for loans to directors or officers of a bank? a. The approval shall be entered upon the records of the bank b. It is required to send a copy of the entry to the Bangko Sentral ng Pilipinas (BSP)

c. The written consent of the majority of the directors, excluding the concerned directors, is required. d. A certificate that has been signed by the corporate secretary is required.