mutliple choice

1.

Statement I:	PDIC shall have access to reports of examination made by, and reports of condition made to the BSP or its appropriate supervising departments.
Statement II:	PDIC shall be entitled to the exclusive use of Philippine mail in the same manner as the other offices of the national government.

Both statements are false

Both statements are true

Statement I is false

Statement II is false

2.

Statement I:	All personnel of other departments, offices or units of PDIC shall likewise be prohibited from borrowing from any bank or banking institution.
Statement II:	Certain personnel may be exempted from the prohibition, as the Board may, at its discretion, indicate the position levels or functional groups to which the prohibition is applicable.

Both statements are false

Statement II is false

Both statements are true

Statement I is false

3.

Statement I:	Foreign currency deposits have the option to not be by PDIC pursuant to R.A. 6426.
Statement II:	The deposit liabilities of any bank shall be insured with PDIC.

Statement II is false

Both statements are true

Statement I is false

Both statements are false

4.

Statement I:	PDIC shall publish the notice once a week for at least three (3) consecutive weeks in a newspaper of general circulation.
Statement II:	When appropriate, it shall be published in a newspaper circulated in the community or communities where the closed bank or its branches are located.

Statement I is false

Both statements are false

Statement II is false

Both statements are true

5.

Statement I:	Bank losses due to theft, fire, closure by reason of strike or existence of public disorder, revolution or civil war, are covered by PDIC.
Statement II:	PDIC covers not only the risk of a bank closure ordered by the Monetary Board.

Both statements are true

Both statements are false

Statement I is false

Statement II is false

6.

Statement I:	A joint account shall be insured jointly regardless from any individually-owned deposit account.
Statement II:	The aggregate of the interest of each co-owner over several joint accounts, whether owned by the same or different combinations of individuals, juridical persons or entities, shall be subject to the maximum insured deposit of P500,000.00.

Statement I is false

Statement II is false

Both statements are false

Both statements are true

7. The payment of any depositor shall have the following effects, except:

The right on the part of PDIC to receive the same dividends and payments from the proceeds of the assets of such closed bank

Depositor cannot retain his claim for any uninsured portion of his deposit

Recoveries on account of stockholders' liability, as would have been payable to the depositor on a claim for the insured deposits

Subrogated to all rights of the depositor against the closed bank to the extent of such payment

8. The following are implications of status as ordinary preferred credit, except:

None of the choices

Creates rights in favor of certain creditors to have the free property of the debtor applied in accordance with an order of preference

Ordinary preferred credits enjoy a preference, excluding the credits that are later in order, but only as against the value of the property not otherwise subjected to any special preferred credit

Does not create lien on specific property

9. The directors, officers or employees of PDIC responsible for the delay and subsequent failure to settle a claim shall be penalized within:

Six (6) months from the inaction of the Board

Six (6) months from the date of filing of the claim

Six (6) months from the inaction of the appeal by the insured

Six (6) months from the discovery of the discrepancy

10.

Statement I:	Examination, inquiry, or looking into deposits and investments in Philippine government bonds by persons, government officials, bureaus, or offices is a prohibited act.
Statement II:	Disclosure by banking institutions' officials or employees to unauthorized persons regarding information about covered deposits and investments is a prohibited act.

Statement I is false

Both statements are true

Both statements are false

Statement II is false

11.

Statement I:	Foreign currency deposits, which are governed by the Foreign Currency Deposit Act are covered by laws on confidentiality.
Statement II:	Funds placed in a bank not in the nature of a deposit by public individuals or entities are covered by laws on confidentiality.

Both statements are false

Statement I is false

Statement II is false

Both statements are true

12. The following are the exceptions to the Bank Secrecy Law, except:

Unexplained wealth under Sec. 8 of the Anti-Graft and Corrupt Practices Act

The CIR can inquire into the bank accounts of a taxpayer who has filed an application for tax clearance

BSP inquiry or examination in the course of its periodic or special examination of the bank

Inquiry by the Anti-Money Laundering Council after obtaining a court order, when there is probable cause that the deposits or investments involved are in any way related to an unlawful activity or a money laundering offense

13.

Statement I:	In the garnishment of deposits to insure satisfaction of a judgment, there is no real inquiry, and if the existence of the deposit is disclosed, the disclosure is purely incidental to the execution process.
Statement II:	The prohibition against examination of or inquiry into a bank deposit under Republic Act 1405 precludes its being garnished to insure satisfaction of a judgment.

Statement II is false

Both statements are false

Both statements are true

Statement I is false

14. A creditor shall furnish to each person a clear statement in writing the following information, except:

The total amount to be financed

The cash price or delivered price of the property or service actually acquired.

The charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit

The amounts, if any, to be credited as down payment and/or trade in

15.

Statement I:	Jewelry dealers in precious metals, who, as a business, trade in precious metals, for transactions in excess of Php2,000,000 are covered by the Anti-Money Laundering Act.
Statement II:	Securities dealers, brokers, salesmen, investment houses and other similar entities managing securities or rendering services as investment agent, advisor, or consultant are covered by the Anti-Money Laundering Act.

Statement I is false

Both statements are true

Statement II is false

Both statements are false