Question 1 (1 point)

A stockholder who votes to approve an amendment to the articles of incorporation which restricts the right of any shareholder may exercise the right of appraisal

Question 1 options:

	True
	False

Question 2 (1 point)

A Bank may be incorporated as a One Person Corporation

Question 2 options:

	True
	False

Question 3 (1 point)

Who primarily presides in the shareholders' meeting

Question 3 options:

	Chairman
	Corporate Secretary
	Managing Director
	President

Question 4 (1 point)

A One Person Corporation is a corporation with a single shareholder

Question 4 options:

	True
	False

Question 5 (1 point)

A One Person Corporation may be converted to an Ordinary stock corporation

Question 5 options:

	True
	False

Question 6 (1 point)

A dissenting shareholder who votes against a proposed corporation action may exercise the right of appraisal within how many days from the time the vote was taken

Question 6 options:

	30
	20
	10
	15
	none of the given answers

Question 7 (1 point)

In general, the officers of the corporation are elected by the

Question 7 options:

	Board of Directors
	Officers of the corporation
	Shareholders
	None of the given answers

Question 8 (1 point)

Religious corporations are classified as

Question 8 options:

	Corporations Sole
	Close corporations
	none of the given answers
	Deadlock
	Non stock corporations

Question 9 (1 point)

The default quorum in shareholders' meetings consists of stockholders representing 2/3s of the outstanding capital stock of the corporation

Question 9 options:

	True
	False

Question 10 (1 point)

The ________ regulates the relations among shareholders of the corporation

Question 10 options:

	Articles of Incorporation
	Public Utility
	None of the given answers
	By Laws

Question 11 (1 point)

Where the single stockholder cannot prove that the property of the One Person Corporation is independent of the stockholder's personal property, the stockholder shall be jointly and severally liable for the debts and other liabilities of the One Person Corporation.

Question 11 options:

	True
	False

Question 12 (1 point)

If a corporation does not formally organize and commence its business within five (5) years from the date of its incorporation, its certificate of incorporation shall be deemed revoked 30 days from the end of the five (5)-year period

Question 12 options:

	True
	False

Question 13 (1 point)

The De La Salle - College of St. Benilde, as an educational institution can have 8 to 18 trustees

Question 13 options:

	True
	False

Question 14 (1 point)

Unlike regular corporations, the principles of piercing the corporate veil does not apply to One Person Corporations.

Question 14 options:

	True
	False

Question 15 (1 point)

Only a natural person may form a One Person Corporation

Question 15 options:

	True
	False

Question 16 (1 point)

An ordinary corporation cannot be converted into a One Person Corporation

Question 16 options:

	True
	False

Question 17 (1 point)

____________ are shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation through purchase, redemption, donation, or some other lawful means

Question 17 options:

	Founder's Shares
	Common Shares
	Preferred Shares
	Treasury Shares

Question 18 (1 point)

There is a minimum Authorized Capital Stock required for registering a corporation with the Securities and Exchange Commission

Question 18 options:

	True
	False

Question 19 (1 point)

A minimum authorized capital stock is required for one person corporations

Question 19 options:

	True
	False

Question 20 (1 point)

The Certificate of Stock may be issued without full payment of the stock subscription

Question 20 options:

	True
	False

Question 21 (1 point)

The Directors of an ordinary stock corporation have a term of 3 years

Question 21 options:

	True
	False

Question 22 (1 point)

A regular corporation (not an OPC) may have 2 incorporators

Question 22 options:

	True
	False

Question 23 (1 point)

The single shareholder cannot be the President of the OPC

Question 23 options:

	True
	False

Question 24 (1 point)

Treasury Shares are voted for by the president of the corporation

Question 24 options:

	True
	False

Question 25 (1 point)

A corporation sole may sell or mortgage its real property by

Question 25 options:

	An order for that purpose from the Regional Trial Court of the province where the property is situated
	A Certification by the head of the Church
	A vote of the trustees
	A vote of all the members of the religious organization

Question 26 (1 point)

The minimum qualification for a Director of the Corporation is

Question 26 options:

	A holder of stock/s registered in the corporation's books
	Resident of the Philippines
	At least 40 years of age
	Of good moral character
	Able to read and write

Question 27 (1 point)

The proposed articles of incorporation will be approved by the SEC when the primary purpose stated there in illegal

Question 27 options:

	True
	False

Question 28 (1 point)

A One Person Corporation is required to submit its corporate bylaws to the SEC

Question 28 options:

	True
	False

Question 29 (1 point)

All corporations registered under the Revised Corporation Code must bear the name "corp." or "corporation" at the end of its corporate name

Question 29 options:

	True
	False

Question 30 (1 point)

A corporation has perpetual existence except when there is a term provided in the articles of incorporation

Question 30 options:

	True
	False