CHAPTER 17

FINANCIAL SYSTEM REGULATORS - PART II

Answers to Review Questions

SEC

1. Refer to page 272, 2nd and 3rd paragraphs.

2. Refer to page 276, 1st paragraph.

3. “Securities” are shares, participation or interest in a corporation or in a

commercial enterprise or profit-making venture and evidenced by a
certificate, contract, instruments, whether written or electronic in
character.

4. Refer to page 278, Section 9.1.

5. Refer to page 279, Section 10.1.

6. Refer to page 281, Section 16.

IC

7. The basic mandate of the Insurance Commission is to regulate the

insurance, pre-need and HMO industries in accordance with the
provisions of the Insurance Code, as amended, Pre-Need Code of the
Philippines and Executive Order No. 192.

8. The major departments assigned or deputized to discharge the functions

and responsibilities of the Insurance Commission are
i. Financial Examination
ii. Technical Services
iii. Legal Services
iv. Management Support Services

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Comprehensive Multiple Choice Questions

1. D
2. B
3. A
4. D
5. D
6. B
7. D
8. D
9. C
10. D
11. B
12. D
13. C
14. C
15. D

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