2.

Statement I: If notice of non-payment by the drawee bank is not sent to the

maker or drawer, then the presumption or prima facie evidence of knowledge of
insufficiency of funds cannot arise Statement II: The presumption of knowledge
of insufficiency of funds or credit does not lie when the check is presented after
90 days from the date of the checkRequired to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
3.What is the possible maximum deposit insurance coverage if a depositor has
several valid single accounts and valid joint accounts in a closed bank?Required
to answer.Single choice.
(1 Point)
P1,000,000
P500,000
P750,000
P1,500,000
4.What is the minimum retention period of all records of customer identification
and transaction documents of their customers by a covered person under Anti-
Money Laundering Law?Required to answer.Single choice.
(1 Point)
At least 1 year from the date of transaction or from date of closure of the account
At least 3 years from the date of transaction or from date of closure of the account
At least 5 years from the date of transaction or from date of closure of the account
At least 10 years from the date of transaction or from date of closure of the account
5.It means the unpaid balance of money or its equivalent received by a bank in
the usual course of business and for which it has given or is obliged to give credit
to a commercial, checking, savings, time or thrift account, evidenced by a
passbook, certificate of deposit, or other evidence of deposit issued in
accordance with Bangko Sentral ng Pilipinas rules and regulations and other
applicable laws, together with such other obligations of a bankRequired to
answer.Single choice.
(1 Point)
Insured deposit
Insured bank
 Disputed claim
Deposit
6.What is the quantum of evidence required for conviction of criminal offense
involving violation of BP 22 for issuance of worthless checks?Required to
answer.Single choice.
(1 Point)
Probable cause or prima facie evidence
Clear and convincing evidence
Preponderance of evidence
Proof of beyond reasonable doubt
7.Statement I: B.P. 22 punishes the issuance of a bouncing check and not the
purpose for which it was issued or terms and conditions relating to its issuance
Statement II: The issue of lack of valuable consideration for the issuance of
checks which were later on dishonored for insufficient funds is immaterial to the
success of a prosecution under B.P. 22Required to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
8.Which of the following is not a predicate crime of Money Laundering Offense?
Required to answer.Single choice.
(1 Point)
Voyeurism
Smuggling
Extortion
Homicide
9.The following are predicate crimes that may authorize Anti-Money Laundering
Council to inquire bank accounts even without court order from Court of Appeals,
exceptRequired to answer.Single choice.
(1 Point)
Drug Trafficking
Hijacking
Carnapping
Kidnapping for Ransom
10.The maker’s knowledge of the insufficiency of his funds is presumed from the
dishonor of his check for insufficiency of funds, except: I. When the check is
presented after 90 days from the date of the check II. When the maker or drawer
pays the holder thereof the amount due thereon or makes arrangements for
payment in full by the drawee of such check within 5 banking days after receiving
notice that such check has not been paid by the draweeRequired to
answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
11.Statement I: It shall be unlawful for any official or employee of a banking
institution to disclose to any person any information concerning deposits
Statement II: The Secrecy of Bank Deposit Account does not prohibit attachment
or garnishment of bank accounts, which does not involve revealing specific
information of depositsRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
12.Under Republic Act No. 1405, the following instruments are considered
absolutely confidential in nature, exceptRequired to answer.Single choice.
(1 Point)
a. Savings deposit
b. Time Deposit
c. Current Account or Demand Account
d. Money market placement or Telegraphic Notes or Telegram notes
13.The following are predicate crimes that may authorize Anti-Money Laundering
Council to inquire bank accounts even without court order from Court of Appeals,
exceptRequired to answer.Single choice.
(1 Point)
a. Murder
b. Financing of Terrorism, Terrorism and conspiracy to commit terrorism
c. Destructive arson
 d. Plunder
14.Under Republic Act No. 1405 a.k.a. Philippine Peso Deposit Secrecy Law, the
bank deposits and investment in government bonds may be inquired into in the
following exceptional instances, exceptRequired to answer.Single choice.
(1 Point)
Upon written permission or consent in writing by the depositor
In cases of impeachment of the President, Vice President, members of the Supreme Court,
members of the Constitutional Commission (Commission on Elections, Civil Service Commission and
Commission on Audit) and the Ombudsman for culpable violation of the Constitution, treason,
bribery, graft and corruption, other high crimes or betrayal of public trust (Art. XI, Sec. 2, 1987
Philippine Constitution)
Upon order of a competent court in cases of bribery or dereliction of duty of public officials
In cases of tax evasion cases filed by BIR Commissioner against a taxpayer
15.What is the penalty for violation of BP 22 or Bouncing Checks Law?Required to
answer.Single choice.
(1 Point)
Imprisonment of not less than 60 days but not more than (2) years or Fine of not less than but
not more than double the amount of the check which fine shall in no case exceed Three Hundred
Thousand Pesos or both imprisonment and fine
Imprisonment of not less than 30 days but not more than (1) year or Fine of not less than but not
more than double the amount of the check which fine shall in no case exceed Two Hundred
Thousand Pesos or both imprisonment and fine
Imprisonment of not less than 90 days but not more than (3) years or Fine of not less than but
not more than double the amount of the check which fine shall in no case exceed Four Hundred
Thousand Pesos or both imprisonment and fine
Imprisonment of not less than 120 days but not more than (4) years or Fine of not less than but
not more than double the amount of the check which fine shall in no case exceed Five Hundred
Thousand Pesos or both imprisonment and fine
16.What is the quantum of evidence required to sue or file a criminal case for
criminal offense involving violation of BP 22 for issuance of worthless checks?
Required to answer.Single choice.
(1 Point)
Probable cause or prima facie evidence
Clear and convincing evidence
Preponderance of evidence
Proof of beyond reasonable doubt
17.What is the maximum period for payment by PDIC to depositors of their
claims from a closed bank in order not to make PDIC’s office liable for failure to
pay due to grave abuse of discretion, gross negligence, bad faith or malice?
Required to answer.Single choice.
(1 Point)
Within 3 months from the date of filing of deposit insurance claim to PDIC
Within 6 months from the date of filing of deposit insurance claim to PDIC
Within 1 year from the date of filing of deposit insurance claim to PDIC
Within 2 years from the date of filing of deposit insurance claim to PDIC
18.Which of the following is not a duty of a drawee bank under BP 22?Required
to answer.Single choice.
(1 Point)
If there are no sufficient funds in or credit with such a drawee bank regarding such check, such
fact shall always be explicitly stated in the notice of dishonor or refusal to be given by the drawee
bank
Notwithstanding receipt of an order to stop payment from the drawer of check, the drawee bank
shall state in the notice that there were no sufficient funds in or credit with such bank for the
payment in full of such check, if such be the fact
The drawee bank shall report the act of issuance of worthless check to AMLC even if the amount
does not exceed the quantitative threshold to be considered covered transaction
When refusing to pay the check to the holder thereof upon presentment, to cause to be written,
printed or stamped in plain language thereon, or attached thereto, the reason for drawee’s dishonor
or refusal to pay the same
19.The following are the exceptional cases when the BIR Commissioner may
inspect bank deposits, exceptRequired to answer.Single choice.
(1 Point)
When there is application of compromise liability by a taxpayer on the ground of financial
incapacity
To determine the gross estate for computation of estate tax’s liability
When a request for tax information of specific taxpayers made by a foreign tax authority
pursuant to a tax treaty under The Exchange of Information on Tax Matter Act of 2009
To determine the taxable income of politicians
20.Statement I: The receiver shall have the authority to facilitate and implement
the purchase of the assets of the closed bank and the assumption of its liabilities
by another insured bank, without need for approval of the liquidation court
Statement II: The assets gathered by the receiver shall be evaluated and verified
as to their existence, ownership, condition and other factors to determine their
realizable valueRequired to answer.Single choice.
(1 Point)
Only Statement I is true
 Only Statement II is true
Both are true
Both are false
21.Which of the following credits may not be escheated in favor of the state
under Unclaimed Balances Law?Required to answer.Single choice.
(1 Point)
Telegraphic note
Demand draft
Deposit
Money
22.An act penalizing the making or drawing and issuance of a check without
sufficient funds or creditRequired to answer.Single choice.
(1 Point)
Republic Act No. 22
Presidential Decree No. 22
Batas Pambansa Blg. 22
BSP Publication No. 22
23.Which of the following is not a predicate crime of Money Laundering Offense?
Required to answer.Single choice.
(1 Point)
Fencing
Swindling
Illegal recruitment
Bigamy
24.Statement I: Upon the designation of the PDIC as receiver of a closed bank, it
shall serve a notice of closure to the highest-ranking officer of the bank present
in the bank premises, or in the absence of such officer, post the notice of closure
in the bank premises or on its main entrance Statement II: The receiver shall have
authority to use reasonable force, including the authority to force open the
premises of the bank, and exercise such acts necessary to take actual physical
possession and custody of the bank and all its assets, records, documents and
take charge of its affairs upon the service of the notice of closureRequired to
answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
 Both are true
Both are false
25.Statement I: Where there are no sufficient funds in or credit with the drawee
bank, such fact shall always be explicitly stated in the notice of dishonor or
refusal, a mere oral notice or demand to pay would appear to be insufficient for
conviction under the law Statement II: The full payment of the amount appearing
in the check within 5 banking days from notice of dishonor is a complete
defenseRequired to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
26.Statement I: The crime under Art. 315 par 2 (d) of the Revised Penal Code is
mala in se. Statement II: The crime under Art. 315 par 2 (d) of the Revised Penal
Code requires mens rea.Required to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
27.S is the creditor of B. Upon demand, B failed to pay S; thus, the latter filed a
case against the former. B had a savings account with Sea Bank. Subsequently,
the court ordered that B’s account be garnished the amount of P100,000 to
satisfy the judgment in favor of S. B complained that the garnishment violated
the Secrecy of Bank Deposit Act. DecideRequired to answer.Single choice.
(1 Point)
B is correct because in the process of garnishment, the information about his savings account is
divulge to the public
B is correct because the Bank Secrecy Law protects the disclosure of the existence of bank
accounts of depositors
B is not correct because peso deposits may be garnished, and Sea Bank can comply with the
order of garnishment without violating the Secrecy of Bank Deposit Act
B complaint is meritorious because peso deposits may not be garnished
28.Which of the following is punishable act under BP 22 also known as Bouncing
Checks Law? a. Any person who (a) makes or draws and issues any check to apply
on account or for value, (b) knowing at the time of issue that he does not have
sufficient funds in or credit with the drawee bank for the payment of such check
in full upon its presentment, (c) which check is subsequently dishonored by the
drawee bank for insufficiency of funds or credit or would have been dishonored
for the same reason had not the drawer, without any valid reason, ordered the
bank to stop payment b. Any person who, having sufficient funds in or credit with
the drawee bank when he makes or draws and issues a check, shall fail to keep
sufficient funds or to maintain a credit to cover the full amount of the check if
presented within a period of ninety (90) days from the date appearing thereon,
for which reason it is dishonored by the drawee bank c. Either A or B d. Both A
and BRequired to answer.Single choice.
(1 Point)
Any person who (a) makes or draws and issues any check to apply on account or for value, (b)
knowing at the time of issue that he does not have sufficient funds in or credit with the drawee bank
for the payment of such check in full upon its presentment, (c) which check is subsequently
dishonored by the drawee bank for insufficiency of funds or credit or would have been dishonored
for the same reason had not the drawer, without any valid reason, ordered the bank to stop payment
Any person who, having sufficient funds in or credit with the drawee bank when he makes or
draws and issues a check, shall fail to keep sufficient funds or to maintain a credit to cover the full
amount of the check if presented within a period of ninety (90) days from the date appearing
thereon, for which reason it is dishonored by the drawee bank
Either
Neither
29.It refers to a type of transaction that shall be reported by a covered person to
the Anti-Money Laundering Council because the transaction breaches the
quantitative threshold of reporting purposesRequired to answer.Single choice.
(1 Point)
Suspicious transaction
Reportable transaction
Exempted transaction
Covered transaction
30.Under Foreign Currency Deposit Act of the Philippines or R.A. No. 6426, what
is the only exception for the absolutely confidential nature of Foreign Currency
Bank Deposits?Required to answer.Single choice.
(1 Point)
Upon written permission or consent in writing by the depositor
In cases of impeachment of the President, Vice-President, members of the Supreme Court,
members of the Constitutional Commission (Commission on Elections, Civil Service Commission and
Commission on Audit) and the Ombudsman for culpable violation of the Constitution, treason,
bribery, graft and corruption, other high crimes or betrayal of public trust. (Art. XI, Sec. 2, 1987
Philippine Constitution)
Upon order of a competent court in cases of bribery or dereliction of duty of public officials
In cases where the money deposited or invested is the subject matter of the litigation
31.Statement I: What B.P. 22 punishes is the issuance of a bouncing check and
not the purpose for which the check was issued Statement II: What B.P. 22
punishes is the issuance of a bouncing check and not the non-payment of an
obligation, or the terms and conditions of its issuanceRequired to answer.Single
choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
32.Statement I: Whenever the Solicitor General be informed of such unclaimed
balances, he shall commence an action or actions in the name of the People of
the Republic of the Philippines in which shall be joined as parties the bank,
building and loan association or trust corporation, and all such creditors or
depositors Statement II: Upon the trial, the court must hear all parties who have
appeared therein, and if it be determined that such unclaimed balances in any
defendant bank, building and loan association, or trust corporation are
unclaimed, then the court shall render judgment in favor of the Government of
the Republic of the Philippines, declaring that said unclaimed balances have been
escheated to the Government of the Republic of the Philippines and
commanding said bank, building and loan association or trust corporation to
forthwith deposit the same with the Treasurer of the Philippines to credit of the
Government of the Republic of the PhilippinesRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
33.They include credits or deposits of money, bullion, security or other evidence
of indebtedness of any kind, and interest thereon with banks in favor of any
person known to be dead or who has not made further deposits or withdrawals
during the preceding ten (10) years or moreRequired to answer.Single choice.
(1 Point)
 Dormant accounts
Dead accounts
Unclaimed balances
Closed deposits
34.Which of the following is a predicate crime of Money Laundering Offense? a.
Violation of BP 22 a.k.a. Bouncing Check Law b. Violation of Electronic Commerce
Act of 2000 a.k.a. RA No. 8792 c. Violation of RA 112343 a.k.a. Revised
Corporation Code of the Philippines d. Violation of Data Privacy ActRequired to
answer.Single choice.
(1 Point)
Violation of BP 22 a.k.a. Bouncing Check Law
Violation of Electronic Commerce Act of 2000 a.k.a. RA No. 8792
Violation of RA No. 112343 a.k.a. Revised Corporation Code of the Philippines
Violation of Data Privacy Act a.k.a. RA No. 10173
35.As a general rule, which type of bank deposit may not be subject to
attachment, execution or garnishment?Required to answer.Single choice.
(1 Point)
Philippine Peso Bank Deposit
Foreign Currency Bank Deposit
Both
Neither
36.It means the amount due to any bonafide depositor for legitimate deposits in
an insured bank as of the date of closure but not to exceed P500,000Required to
answer.Single choice.
(1 Point)
Insured bank
Insured deposit
Disputed claim
Deposit
37.Which of the following is not part of minimum customer identification to be
required by a covered person from its client or customer?Required to
answer.Single choice.
(1 Point)
Name of customer, date and place of birth and Present and permanent address
Nationality of customer
Name of all relatives of customer
 Nature of work and name of employer
38.Statement I: The severity of the penalty for the the crime under Art. 315 par 2
(d) of the Revised Penal Code is dependent on the amount stated on the check.
Statement II: The crime under Art. 315 par 2 (d) of the Revised Penal Code can be
defeated by good faith.Required to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
39.In the management and/or conversion of the assets of the closed bank, the
receiver shall have the authority to I. Conduct a physical or ocular inspection of
the properties owned by, or mortgaged to, the closed bank, to determine their
existence and present condition II. Determine the disposal price of assets in
accordance with generally accepted valuation principles, standards and
practicesRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
40.They refer to money or funds place with a bank that can be withdrawn on the
depositor’s order or demandRequired to answer.Single choice.
(1 Point)
Deposits
Trust funds
Money market placements
Deposit substitutes
41.The following are required to be reported to the Anti-Money Laundering
Council (AMLC) as they are covered transactions, exceptRequired to
answer.Single choice.
(1 Point)
Any transaction in cash or other equivalent monetary instrument involving a total amount in
excess of P500,000 within 1 banking day
Jewelry dealers in precious stones, who, as a business, trade in precious stones, for transactions
in excess of P1,000,000
 The Land Registration Authority and all its Registries of Deeds to submit to the AMLC, reports on
all real estate transactions involving an amount in excess of P500,000 within 15 days from the date of
registration of the transaction, in a form to be prescribed by the AMLC
None of the above
42.What is the minimum number of days for maintaining a balance in the
checking account to cover the check he issued for the drawer to be exempted
from conviction for violation of BP 22?Required to answer.Single choice.
(1 Point)
A period of at least 90 days from the maturity date of check
A period of at least 120 days from the maturity date of check
A period of at least 150 days from the maturity date of check
A period of at least 180 days from the maturity date of check
43.Which of the following is not an element of violation of BP 22 for issuance of
worthless check or no sufficient fund (NSF) check?Required to answer.Single
choice.
(1 Point)
There must be knowledge of the maker, drawer, or issuer that at the time of issue, he does not
have sufficient funds in or credit with the drawee bank for the payment of the check in full upon its
presentment
There must be criminal intent to defraud on the part of the drawer of the check
There must be subsequent dishonor of the check by the drawee bank for insufficiency of funds
or creditor dishonor for the same reason had not the drawer, without any valid cause, ordered the
bank to stop payment
There must be making, drawing, and issuance of any check to apply for account or for value
44.What is the prima facie evidence of the knowledge of insufficiency of funds or
credit by the maker or drawer of a check?Required to answer.Single choice.
(1 Point)
The making, drawing and issuance of a check payment of which is refused by the drawee
because of insufficient funds in or credit with such bank, when presented within (120) days from the
date of the check
The making, drawing and issuance of a check payment of which is refused by the drawee
because of insufficient funds in or credit with such bank, when presented within (90) days from the
date of the check
The making, drawing and issuance of a check payment of which is refused by the drawee
because of insufficient funds in or credit with such bank, when presented within (60) days from the
date of the check
The making, drawing and issuance of a check payment of which is refused by the drawee
because of insufficient funds in or credit with such bank, when presented within (30) days from the
date of the check
45.It refers to a type of transaction that shall still be reported by a covered person
to the Anti-Money Laundering Council even if the transaction does not breach
the quantitative threshold for reporting purposes by reason of the unusual nature
of the transactionRequired to answer.Single choice.
(1 Point)
Suspicious transaction
Reportable transaction
Exempted transaction
Covered transaction
46.Which of the following is insured by PDIC?Required to answer.Single choice.
(1 Point)
Investment in bonds issued by government
Investment in stocks of a private corporation
Trust account
Demand or Checking account
47.Statement I: Whenever upon examination by the PDIC into the condition of
any insured bank, it shall be disclosed that an insured bank or its directors or
agents have committed, are committing or about to commit unsafe or unsound
practices in conducting the business of the bank, or have violated, are violating or
about to violate any provisions of any law or regulation to which the insured
bank is subject, the Board of Directors shall submit the report of the examination
to the Monetary Board to secure corrective action thereon Statement II: Each
insured bank shall keep and maintain a true and accurate record or statement of
its daily deposit transactions consistent with the standards set by the Bangko
Sentral ng Pilipinas and the PDICRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
48.As an exception to the general rule, which court has original jurisdiction to try
money laundering cases committed by public officers with salary grade of at least
26 and private persons in conspiracy with such public officers?Required to
answer.Single choice.
(1 Point)
Municipal trial court
 Court of Tax Appeals
Sandiganbayan
Regional Trial Court
49.Statement I: A joint account regardless of whether the conjunction ‘and’, ‘or’,
‘and/or’ is used, shall be insured separately from any individually-owned deposit
account Statement II: That 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 likewise be subject to the maximum
insured deposit of P500,000Required to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
50.Statement I: Covered institutions shall establish and record the true identity of
its clients based on official documents Statement II: All records of all transactions
of covered institutions shall be maintained and safely stored for 5 years from the
date of transactionsRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
51.What is the mode of payment by PDIC of claims of depositors from a closed
bank?Required to answer.Single choice.
(1 Point)
By cash
By making available to each depositor a transferred deposit in another insured bank in an
amount equal to insured deposit of such depositor
Neither
Either
52.Statement I: PDIC may require proof of claims to be filed before paying the
insured deposits Statement II: In any case, where PDIC is not satisfied as to the
viability of a claim for an insured deposit, it may require final determination of a
court of competent jurisdiction before paying such claimRequired to
answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
53.Statement I: If the account is held jointly by two or more natural persons, or by
two or more juridical persons or entities, the maximum insured deposit shall be
divided into as many equal shares as there are individuals, juridical persons or
entities, unless a different sharing is stipulated in the document of deposit
Statement II: If the account is held by a juridical person or entity jointly with one
or more natural persons, the maximum insured deposit shall be presumed to
belong entirely to such juridical person or entityRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
54.Statement I: Under Art. 315 par 2 (d) of the Revised Penal Code, the crime can
be committed by issuing a check in substitution of a previously issued promissory
note. Statement II: Under Art. 315 par 2 (d) of the Revised Penal Code, the crime
can be committed by issuing a check in as a guarantor not as a principal
debtorRequired to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
55.Statement I: The Philippine Deposit Insurance Corporation (PDIC) shall insure
the deposits of all banks Statement II: The PDIC shall promote and safeguard the
interests of the depositing public by providing insurance coverage on all insured
deposits and helping maintain a sound and stable banking systemRequired to
answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
 Both are false
56.Which of the following disclosures will be considered a violation of Philippine
peso deposit secrecy law?Required to answer.Single choice.
(1 Point)
Turn-over by authorized bank officials to the BIR Commissioner of the amount in bank accounts
as may be sufficient to satisfy the writ of garnishment issued to collect delinquent taxes
Reporting of unclaimed balances of a bank deposit to the Treasurer of the Philippines or Bureau
of Treasury by authorized bank officials
Disclosure by a bank officer or employee upon order of a competent court in connection with a
deposit in a closed bank that was used in the perpetration of anomalies
Using of insider information about the bank deposits by bank employees in order to determine
the credit rating or credit standing of their depositors for purpose of offering credit cards
57.Statement I: Under Art. 315 par 2 (d) of the Revised Penal Code, the crime can
be committed either by postdating a check or issuing a check in payment of an
obligation. Statement II: The full payment of the amount appearing in the check
within 3 days from notice of dishonor is a defense in a prosecution for Estafa
nuder Art. 315 par 2 (d) of the Revised Penal CodeRequired to answer.Single
choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
58.Statement I: Batas Pambansa Blg. 22 does not make a distinction as to
whether the bad check is issued in payment of an obligation or to merely
guarantee an obligation Statement: The essence of B.P. Blg. 22 is the issuance of
a check, not the non-payment of an obligationRequired to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
59.What is the penalty provided by R.A. No. 6426 for violation of confidentiality
of foreign currency deposit act of the Philippines?Required to answer.Single
choice.
(1 Point)
 Imprisonment of not less than 1 year nor more than 5 years or fine not less than P5,000 but not
more than P25,000 or both imprisonment and fine
Imprisonment of not less than 2 years nor more than 10 years or fine not less than P10,000 but
not more than P50,000 or both imprisonment and fine
Imprisonment of not less than 3 years nor more than 15 years or fine not less than P20,000 but
not more than P100,000 or both imprisonment and fine
Imprisonment of not less than 4 year nor more than 20 years or fine not less than P50,000 but
not more than P500,000 or both imprisonment and fine
60.Which of the following institutions is not covered by Act No. 3936 also known
as Unclaimed Balances Law?Required to answer.Single choice.
(1 Point)
Banks
Non-stock savings and loans association
Trust companies
Mutual building and loans association
61.Under Republic Act No. 1405, what is the nature of bank deposit and
investment in government bonds?Required to answer.Single choice.
(1 Point)
As a general rule, they are absolutely confidential in nature
As a general rule, they are generally subject to any type of inspection
They are exempted from any type of inquiry
None of the above
62.Statement I: Any person may be charged with and convicted of both the
offense of money laundering and the unlawful activity Statement II: Any
proceeding relating to the unlawful activity shall be given precedence over the
prosecution of the offense of money launderingRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
63.In case of bouncing check issued on behalf of an artificial being or juridical
person, who shall be criminally liable for imprisonment?Required to answer.Single
choice.
(1 Point)
Juridical person
Corporate officer who signed the bouncing check
 Either
Neither
64.Which of the following is not a suspicious transaction as described in the
AMLA?Required to answer.Single choice.
(1 Point)
Transaction that may be perceived that the client’s transaction is structured in order to avoid
being the subject of reporting requirements under AMLA
Transaction is any way related to an unlawful activity or any money laundering activity or offense
that is about to be committed, is being or has been committed
Transaction that deviates from the client’s transactions with the covered person
Transaction entered into in the ordinary course of business of the client
65.Statement I: The unclaimed balances, together with the increase and proceeds
thereof, shall be deposited with the Treasurer of the Philippines to the credit of
the Government of the Republic of the Philippines Statement II: All banks,
building and loan associations, and trust corporations shall forward to the
Treasurer of the Philippines a statement, under oath, of their respective managing
officers, of all credits and deposits held by them in favor of persons known to be
dead, or who have not made further deposits or withdrawals during the
preceding ten years or moreRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
66.P is unemployed; however, he is suspected to be a drug lord. P has never been
charged or convicted of any crime. He has several bank accounts and purchased
several houses and lots from B amounting to P100,000,000. After that, the
Register of Deeds reported his purchases to the Anti-Money Laundering Council
(AMLC). Upon request of the AMLC, Sea Bank disclosed to it P’s bank deposits.
Subsequently, P was charged in court for violation of the Anti-Money Laundering
Law. Did Sea Bank violate the Secrecy of Bank Deposit Act in disclosing P’s bank
account to the AMLC?Required to answer.Single choice.
(1 Point)
No. Sea Bank did not violate the Secrecy of Bank Deposit Act because it is one of the obligation
of banks to disclose bank accounts if public interest requires it
Yes. Sea Bank violated the Secrecy of Bank Deposit Act since it is absolutely prohibited from
disclosing bank accounts
 Yes. Sea Bank violated the Secrecy of Bank Deposit Act since it can disclose bank accounts only
upon the request of the Supreme Court
No. Sea Bank did not violate the Secrecy of Bank Deposit Act. A bank is obliged to report to the
AMLC covered and suspicious transactions
67.One method of preventing money laundering is customer identification. The
following are the rules with regard to Customer Identification exceptRequired to
answer.Single choice.
(1 Point)
Covered institutions shall establish the true identify of clients based on official documents
Maintain a system of verifying true identity of clients
Peso and foreign currency non-checking numbered accounts are allowed
Anonymous accounts, those under fictitious names and similar accounts are not prohibited
68.Statement I: Under B.P. 22, only a full payment at the time of its presentment
or during the five-day period could exonerate one from criminal liability, and that
subsequent payments can only affect the civil, but not the criminal liability
Statement II: The full payment of the amount appearing in the check within 5
banking days from notice of dishonor is a partial defenseRequired to
answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
69.Unless changed by the Anti-Money Laundering Council, what is the period for
reporting all covered transactions or suspicious transactions by a covered person
to Anti-Money Laundering Council?Required to answer.Single choice.
(1 Point)
Within a period of (5) five working days from the occurrence thereof
Within a period of (5) five calendar days from the occurrence thereof
Within a period of (15) fifteen working days from the occurrence thereof
Within a period of (15) fifteen calendar days from the occurrence thereof
70.As a general rule, what is the threshold amount of the bank deposit to be
required to file deposit insurance claims to PDIC?Required to answer.Single
choice.
(1 Point)
Balance of more than P100
Balance of more than P1,000
 Balance of more than P10,000
Balance of more than P100,000
71.Statement I: All payments by the PDIC of insured deposits in closed banks
partake of the nature of public funds Statement II: The PDIC, in its discretion, may
require proof of claims to be filed before paying the insured deposits, and that in
any case where the PDIC is not satisfied as to the validity of a claim from an
insured deposit, it may require final determination of a court of competent
jurisdiction before paying such claimRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
72.How shall the AMLC make decision in the discharge of its functions?Required
to answer.Single choice.
(1 Point)
By majority vote of the three
By 1/3 vote of the three
By unanimous vote of the three
Any of the above
73.X has the following deposit accounts in a closed bank (BPI): X Bakery Business
(Sole Proprietorship) Checking Account – BPI-Mandaluyong Branch P300,000 X
Savings Deposit – BPI-Taguig City Branch P400,000 X and Y Time Deposit – BPI-
Pasig Branch P600,000 X and Z Savings Deposit – BPI-Quezon City Branch
P800,000 What is the maximum deposit insurance coverage by PDIC in so far as X
is concerned?Required to answer.Single choice.
(1 Point)
a. P1,000,000
b. P1,200,000
c. P500,000
d. P800,000
74.Which of the following is declared to be the policy of the Government under
Republic Act No. 1405 a.k.a. Philippine Peso Deposit Secrecy Law? I. To give
encouragement to the people to deposit their money in banking institutions II.
To discourage private hoardingRequired to answer.Single choice.
(1 Point)
 Only Statement I
Only Statement II
Both Statements I and II
Neither Statements I nor II
75.Which is false about Foreign Currency Deposit Act also known as R.A. No.
6426?Required to answer.Single choice.
(1 Point)
The foreign currency deposits maintained abroad by Filipino citizens are not covered by the
provisions of this act
Depository banks which have been qualified by the Monetary Board to function under expanded
foreign currency deposit system are exempt in maintaining the fifteen percent (15%) foreign currency
cover for their liabilities in the form of foreign currency deposit with BSP
Foreign currency deposits are of absolutely confidential nature, except upon the written
permission of the depositor
Foreign currency deposits are subject to attachment, garnishment, or any other order or process
of the court
76.Which of the following is not considered offense punishable as money
laundering?Required to answer.Single choice.
(1 Point)
Transacting known proceeds of any unlawful activity
Converting, transferring, disposing of, acquiring, possessing, moving or using known proceeds of
any unlawful activity
Concealing, disguising the true nature, source, location, movement, or ownership of known
proceeds of any unlawful activity
Knowledge of proceeds of any unlawful activity
77.X has the following deposit accounts in a closed bank (BPI): X and Y Savings
Deposit – BPI-Quezon City Branch P600,000 X and B Time Deposit – BPI-Taguig
City Branch P800,000 X and F Checking Account – BPI-Mandaluyong Branch
P900,000 What is the maximum deposit insurance coverage by PDIC in so far as X
is concerned?Required to answer.Single choice.
(1 Point)
a. P1,000,000
b. P1,200,000
c. P500,000
d. P800,000
78.What is the prescriptive period for depositors to file their deposit insurance
claims to PDIC from date of takeover by PDIC of a closed bank?Required to
answer.Single choice.
(1 Point)
Within 1 year from PDIC’s takeover of the closed bank
Within 2 years from PDIC’s takeover of the closed bank
Within 3 years from PDIC’s takeover of the closed bank
Within 4 years from PDIC’s takeover of the closed bank
79.Which of the following statements about prosecution of money laundering
offenses is false?Required to answer.Single choice.
(1 Point)
The prosecution of money laundering and the unlawful activity shall proceed independently such
that any person may be charged with and convicted of both money laundering and the unlawful
activity
The elements of money laundering are separate and distinct from the element of the unlawful
activity
The elements of the unlawful activity, including the identity of the perpetrators and the details of
the commission of the unlawful activity, need not be established by proof beyond reasonable doubt
in the case for money laundering
None of the above
80.Which of the following deposits is not insured by PDIC?Required to
answer.Single choice.
(1 Point)
Certificate of Time Deposit in Philippine National Bank Makati Branch
Bank Deposit in Japan Bank Tokyo Branch
Savings Deposit in Metrobank Manila Branch
Special Savings in Bank of Philippine Islands Taguig Branch
81.Unlawful activity refers to any act or omission or series or combination thereof
involving or having direct relation to the followingRequired to answer.Single
choice.
(1 Point)
Kidnapping for ransom under the Revised Penal Code
The Comprehensive Dangerous Drugs Act of 2002 (RA 9165)
The Anti-Graft and Corrupt Practices Act
All of the above
82.What is the quantum of evidence required for awarding of civil damages for
issuance of worthless checks?Required to answer.Single choice.
(1 Point)
Probable cause or prima facie evidence
Clear and convincing evidence
Preponderance of evidence
Proof of beyond reasonable doubt
83.Statement I: Under Art. 315 par 2 (d) of the Revised Penal Code, the crime can
be committed by issuing a check in as proof or evidence of indebtedness and not
as a in payment of an obligation. Statement II: Under Art. 315 par 2 (d) of the
Revised Penal Code, the crime can be committed by if the check is issued by a
forger.Required to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
84.This principle means that no administrative, criminal or civil proceedings shall
lie against any person for having made a covered transaction report in the
regular performance of his duties in good faith, whether or not such reporting
results in any criminal prosecution under the AMLA or any other Philippine
lawRequired to answer.Single choice.
(1 Point)
Immunity from suit
Tax exemption
Safe harbor provision
Privity of interest
85.The composition of the Anti-Money Laundering Council are the following
exceptRequired to answer.Single choice.
(1 Point)
Governor of the Bangko Sentral ng Pilipinas
Chairman of the Commission on Audit
Chairman of the Securities and Exchange Commission
Commissioner of the Insurance Commission
86.Statement I: It shall not be the duty of the drawee of any check, when refusing
to pay the same to the holder thereof upon presentment, to cause to be written,
printed, or stamped in plain language thereon, or attached thereto, the reason
for drawee’s dishonor or refusal to pay the same Statement II: When there are no
sufficient funds in or credit with such drawee bank, such fact shall always be
explicitly stated in the notice of dishonor or refusalRequired to answer.Single
choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
87.Which of the following is not a predicate crime of Money Laundering Offense?
a. Fraudulent practices and other violations of the Securities Regulation Code b.
Forgeries and Counterfeiting c. Violations of Intellectual Property Code d.
RebellionRequired to answer.Single choice.
(1 Point)
Fraudulent practices and other violations of the Securities Regulation Code
Forgeries and Counterfeiting
Violations of Intellectual Property Code
Rebellion or Coup d'etat
88.Statement I: Whenever a bank is ordered closed by the Monetary Board, the
PDIC shall be designated as receiver and it shall proceed with the takeover and
liquidation of the closed bank Statement II: The receiver is authorized to adopt
and implement, without need of consent of the stockholders, board of directors,
creditors or depositors of the closed bank, any or a combination of (1)
conventional liquidation; and (2) purchase of assets and/or assumption of
liabilities; as modes of liquidationRequired to answer.Single choice.
(1 Point)
Only Statement I is true
Only Statement II is true
Both are true
Both are false
89.Under the amendment of PDIC Charter, may PDIC pay the insured deposits of
a depositor without netting out depositor’s loan obligation with the closed bank?
Required to answer.Single choice.
(1 Point)
Yes, but only using the closed bank’s records alone
Yes, even based on evidence of deposits and not on the closed bank’s recorded loan
No, because it will violate of the right to due process of the bank
 No, because it will violate the principles of legal compensation
90.Which of the following is not a suspicious transaction as described in the
AMLA?Required to answer.Single choice.
(1 Point)
Transaction in which the client is properly identified
Transaction in which the amount involved is not commensurate with the business or financial
capacity of the client
Transaction that has no underlying legal or trade obligation, purpose or economic justification
Transaction that deviates from the profile of the client
91.Which of the following inquiries will be considered a violation of Philippine
Peso deposit secrecy law?Required to answer.Single choice.
(1 Point)
a. Periodic inquiry or special examination of bank deposits by BSP to ensure compliance with
Anti-Money Laundering Law
b. Inquiry of bank deposits by DOJ Secretary for the purpose of persecution of the members of
the opposing political party.
c. Inquiry of bank deposits by BIR Commissioner in relation to an application for compromise of
taxable liability or determination of a decedent’s gross estate under National Internal Revenue Code
d. Inquiry or bank deposits by PDIC when there is finding of unsafe or unsound banking practices
92.It occurs whenever a deposit account with an outstanding balance of more
than the statutory maximum amount of insured deposit maintained under the
name of natural or juridical persons is broken down and transferred into 2 or
more accounts in the name/s of natural or juridical persons or entities who have
no beneficial ownership on transferred deposits in their names within 120 days
immediately preceding or during a declared bank holiday, or immediately
preceding a closure order issued by the Monetary Board of the Bangko Sentral
ng Pilipinas for the purpose of availing of the maximum deposit insurance
coverageRequired to answer.Single choice.
(1 Point)
Splitting of deposits
Division of deposits
Separation of deposits
Partition of deposits
93.Which act is covered by Republic Act No. 1405 a.k.a. Philippine Peso Deposit
Secrecy Law?Required to answer.Single choice.
(1 Point)
 Disclosing the amount of deposit of a judgment debtor to the court sheriff who is executing a
garnishment order against him
Disclosing the name of the drawer of a check to the payee
Disclosing the amount of deposit of a taxpayer to a duly authorized BIR examiner who is
examining his income tax liability
Disclosing the amount of deposit exceeding P500,000 in one banking day to Anti-Money
Laundering Council
94.What is the possible maximum deposit insurance coverage if a depositor has
several valid single accounts in a closed bank?Required to answer.Single choice.
(1 Point)
P1,000,000
P500,000
P750,000
P1,500,000
95.Which type of a bank deposit of impeachable officer may be examined by
impeachment court without consent of the impeachable officer?Required to
answer.Single choice.
(1 Point)
Philippine Peso Bank Deposit
Foreign Currency Bank Deposit
Both
Neither
96.What is the effect of payment by PDIC of insured deposits to depositors?
Required to answer.Single choice.
(1 Point)
PDIC may recover from the assets of the closed in so far as the payment made by PDIC is
beneficial to depositors
PDIC may not recover from the assets of the closed bank if the payment is without the
knowledge or against the will of the closed bank
PDIC shall be legally subrogated to all rights of depositor against the closed bank to the extent
of such payment
PDIC may only recover from the assets of the closed bank if the payment is with the consent of
the closed bank
97.Which of the following is not considered offense punishable as money
laundering? a. Attempting or conspiring to commit money laundering offenses
punishable by Anti-Money Laundering Law b. Aiding, abetting, assisting or
counseling the commissions of money laundering offenses punishable by Anti-
Money Laundering Law c. Performing or failing to perform any acts as a result of
which facilitates the commission of money laundering offenses punishable by
Anti-Money Laundering Law d. Mere employment in a covered institution
required to report suspicious or reportable transactions to Anti-Money
Laundering CouncilRequired to answer.Single choice.
(1 Point)
Attempting or conspiring to commit money laundering offenses punishable by Anti-Money
Laundering Law
Aiding, abetting, assisting or counseling the commissions of money laundering offenses
punishable by Anti-Money Laundering Law
Performing or failing to perform any acts as a result of which facilitates the commission of
money laundering offenses punishable by Anti-Money Laundering Law
Employment in a covered institution required to report suspicious or reportable transactions to
Anti-Money Laundering Council
98.Statement I: Under B.P. 22, the prosecution must prove not only that the
accused issued a check that was subsequently dishonored, but it must also
establish that the accused was actually notified that the check was dishonored
and that he or she failed, within five (5) banking days from receipt of the notice,
to pay the holder of the check the amount due thereon or to make arrangements
for its payment Statement II: The notice of dishonor of check, which must in
writing, may be sent to the drawer or maker by the drawee-bank, the holder of
the check, or the offended party either by personal delivery or by registered
mailRequired to answer.Single choice.
(1 Point)
Only I is true
Only II is true
Both are true
Both are false
99.S, a reporter, while having a bank transaction, overheard a bank teller
informing a co-employee that B, the municipal mayor, has just P10,000 in his
bank account and that his next check might probably bounce. S included this
information in his newspaper report. Thus, B filed a complaint against S for
violation of the Secrecy of Bank Deposits Act. DecideRequired to answer.Single
choice.
(1 Point)
S is liable because bank deposits are absolutely confidential
 S is not liable because he was in good faith when he overheard the remark of the bank teller to a
co-employee
S is liable because bank deposits must not be examined, inquired or looked into by any person
S, who merely overheard the remark of the bank teller to a co-employee and writing the same in
his newspaper report is neither the inquiry nor disclosure contemplated by law
100.What is the penalty provided by law for violation of Republic Act No. 1405
a.k.a. Philippine Peso Deposit Secrecy Law?Required to answer.Single choice.
(1 Point)
Imprisonment of not more than five years or fine of not more than P20,000 or both
imprisonment and fine
Imprisonment of not more than ten years or fine of not more than P200,000 or both
imprisonment and fine
Imprisonment of not more than twenty years or fine of not more than P2,000,000 or both
imprisonment and fine
Imprisonment of not more than twenty years or fine of not more than P2,000 or both
imprisonment and fine