Philippine Deposit Insurance Corporation

Answer No. Statement

B 1 It is a corporation which insures the deposits of all
banks which are entitled to the benefits of insurance.
A. DEPOSITS CORPORATION
B. PHILIPPINE DEPOSITS INSURANCE CORPORATION
C. STOCK CORPORATION
D. INSURANCE CORPORATION
C 2 How many members shall compose the Board of Directors?
A. 5 TO 15 MEMBERS
B. 6 MEMBERS
C. 7 MEMBERS
D. 5 MEMBERS
D 3 Who shall be the chairman of the board of directors?
A. GOVERNOR OF BSP
B. PRESIDENT OF THE CORPORATION
C. GOVERNOR OF THE PDIC
D. SECRETARY OF FINANCE
B 4 Who shall be the vice chairman of the board of directors?
A. GOVERNOR OF BSP
B. PRESIDENT OF THE CORPORATION
C. SECRETARY OF FINANCE
D. ANY MEMBER OTHER THAN THE ELECTED CHAIRMAN
A 5 Where shall the other members come from to be appointed by
the President of the Philippines as amended?
A. GOVERNANCE COMMISSION FOR GOVERNMENT-OWNED OR
-CONTROLLED CORPORATION
B. PRIVATE SECTOR
C. PUBLIC SECTOR
D. FROM THE MEMBERS OF THE BANGKO SENTRAL NG PILIPINAS
A 6 Who shall act as the chairman in the absence of the
chairman during a board meeting?
A. PRESIDENT OF THE CORPORATION
B. UNDERSECRETARY
C. DEPUTY GOVERNOR OF THE BANGKO SENTRAL NG PILIPINAS
D. ANYONE FROM THE OTHER MEMBERS
A 7 Who shall act as the chairman in the absence of the
chairman and the vice chairman during a board meeting as
amended?
A. ANYONE FROM THE MEMBERS DESIGNATED BY THEMSELVES
B. UNDERSECRETARY
C. DEPUTY GOVERNOR
D. PRESIDENT OF THE CORPORATION
D 8 Who shall determine the compensation, per diems,
allowances, incentives, and other benefits for board
members?
A. PRESIDENT OF THE PHILIPPINES
 B. MONETARY BOARD OF THE BANGKO SENTRAL
C. PHILIPPINE DEPOSIT INSURANCE CORPORATION
D. GOVERNANCE COMMISSION FOR GOVERNMENT-OWNED OR
-CONTROLLED CORPORATIONS
C 9 How many members constitute a quorum?
A. 3 MEMBERS
B. 5 MEMBERS
C. 4 MEMBERS
D. 2 MEMBERS
B 10 Who shall be the Chief Executive Officer of the Board of
Directors?
A. SECRETARY OF FINANCE
B. PRESIDENT OF THE CORPORATION
C. GOVERNOR OF THE BANGKO SENTRAL
D. ONE WHO HAS BEEN APPOINTED BY THE PRESIDENT OF THE
PHILIPPINES
C 11 It refers to movable, immovable, tangible, or intangible
resources or properties over which a bank has an
established or equitable interest, including the proceeds
of the sale of its bank and branch licenses subject to the
approval of the Bangko Sentral ng Pilipinas.
A. RESOURCES
B. CAPITAL
C. ASSETS
D. REVENUES
C 12 It refers to a claim or suit against the assets of a
closed bank, or for specific performance, or breach of
contract, or damages, of whatever nature or character,
whether for money or otherwise, liquidated or
unliquidated, fixed or contingent, matured or current,
denied by the receiver.
A. CLAIM
B. LIABILITIES
C. DISPUTED CLAIM
D. UNDISPUTED CLAIM
A 13 It refer to assets, in cash or in kind, to be turned over
to the dosed bank's stockholders of record, in proportion
to their interest in the closed bank as of date of
closure, after payment in full of liquidation costs, fees
and expenses, and the valid claims and surplus dividends
to all the creditors.
A. RESDIUAL ASSETS
B. CURRENT ASSETS
C. LIQUIDATING ASSETS
D. ASSET TURNOVER
B 14 The President of the Philippines may remove any appointive
member of the Board of Directors for any of the following
reasons, except one:
A. IF THE MEMBER NO LONGER POSSESSES THE QUALIFICATIONS
B. IF THE MEMBER IS PHYSICALLY OR MENTALLY INCAPACITATED
THAT HE OR SHE CANNOT PROPERLY DISCHARGE HIS OR HER
 DUTIES AND RESPONSIBILITIES, AND SUCH INCAPACITY HAS
LASTED FOR MORE THAN THREE (3) MONTHS
C. IF THE MEMBER DOES NOT MEET THE STANDARDS FOR
PERFORMANCE
D. IF THE MEMBER IS GUILTY OF ACTS OR OPERATIONS WHICH ARE
OF FRAUDULENT OR ILLEGAL CHARACTER OR WHICH ARE
MANIFESTLY OPPOSED TO THE AIMS AND INTERESTS OF THE
CORPORATION
B 15 Which of the following is not a qualification in the
appointment of the members?
A. HE OR SHE BE OF GOOD MORAL CHARACTER, OF UNQUESTIONABLE
INTEGRITY AND RESPONSIBILITY
B. HE OR SHE SHALL BE AT LEAST THIRTY-FIVE (35) YEARS OF
AGE, EXCEPT FOR THE CHAIRMAN OF THE BOARD WHO SHOULD AT
LEAST BE FORTY (40) YEARS OF AGE
C. HE OR SHE BE OF KNOWN PROBITY AND PATRIOTISM, AND WHO
IS OF RECOGNIZED COMPETENCE IN ECONOMICS, BANKING AND
FINANCE, LAW, MANAGEMENT ADMINISTRATION OR INSURANCE
D. FOR THE DURATION OF THEIR TENURE OR TERM OF OFFICE AND
FOR A PERIOD OF ONE (1) YEAR THEREAFTER, THE APPOINTIVE
MEMBERS OF THE BOARD SHALL BE DISQUALIFIED FROM HOLDING
ANY OFFICE, POSITION OR EMPLOYMENT IN ANY INSURED BATH.
C 16 The sum total of the salary, allowances, benefits and
other emoluments of the ______ shall be higher than the
compensation package of the next highest ranking executive
of the Corporation.
A. CHAIRMAN OF THE BOARD
B. PRESIDENT OF THE CORPORATION
C. GOVERNOR OF THE BANGKO SENTRAL NG PILIPINAS
D. SECRETARY OF FINANCE
D 17 Which of the following is not taken into consideration by
the risk-based assessment system?
A. QUALITY AND CONCENTRATION OF ASSETS
B. MANAGEMENT AND GOVERNANCE
C. LIQUIDITY POSITION
D. CATEGORIES AND CONCENTRATION OF LIABILITIES, BOTH THE
INSURED AND CONTINGENT ONLY
D 18 Which of the following is not shown in the statement of
affairs?
A. ESTIMATED REALIZABLE VALUE OF ASSETS
B. ESTIMATED LIABILITIES TO BE SETTLED
C. CLASSIFICATION OF CREDITS
D. ESTIMATED LIQUIDITY OF ASSETS
C 19 Which of the following does the Corporation, in
determining the appropriate resolution method for a bank,
not consider?
A. FAIR MARKET VALUE OF THE ASSETS OF THE BANK, ITS
FRANCHISE, AS WELL AS THE AMOUNT OF ITS LIABILITIES
B. INTEREST OF THE DEPOSITING PUBLIC
C. THE MONETARY BOARD SHALL PRESCRIBE THE GUIDELINES OR
CRITERIA FOR A BANK TO BE PLACED UNDER RESOLUTION
 D. AVAILABILITY OF A QUALIFIED INVESTOR
A 20 Which of the following is a mode of liquidation?
A. CONVENTIONAL LIQUIDATION
B. SALE OF ASSETS AND/OR ASSUMPTION OF LIABILITIES
C. CONVERTIONAL LIQUIDATION
D. GENERAL LIQUIDATON
D 21 Which of the following is incorrect concerned with the
dividend declaration of the corporation?
A. THE CORPORATION SHALL REMIT DIVIDENDS TO THE NATIONAL
GOVERNMENT ONLY IF THE TARGET DIF LEVEL FOR THE
APPLICABLE YEAR HAS BEEN REACHED.
B. THE DIVIDEND RATE SHALL BE AT LEAST FIFTY PERCENT (50%)
OF THE INCOME FROM OTHER SOURCES ONLY
C. PAYMENT OF SURPLUS DIVIDENDS SHALL BE APPLICABLE TO
BANKS WITHOUT A COURT-APPROVED FINAL ASSET DISTRIBUTION
PLAN
D. FOR PURPOSES OF COMPUTING THE AMOUNT OF DIVIDENDS TO BE
DECLARED AND REMITTED TO THE NATIONAL GOVERNMENT, ALL
ASSESSMENT COLLECTIONS SHALL BE CONSIDERED AS INCOME
C 22 It refers to a bank placed under liquidation by the
Monetary Board.
A. OPEN BANK
B. LIQUIDATING BANK
C. CLOSED BANK
D. DEBTOR
B 23 The Corporation shall not pay deposit insurance for the
following accounts or transactions, except one:
A. INVESTMENT PRODUCTS SUCH AS BONDS AND SECURITIES, TRUST
ACCOUNTS, AND OTHER SIMILAR INSTRUMENTS
B. DEPOSIT ACCOUNTS OR TRANSACTIONS WHICH ARE FORTUITOUS
OR FRAUDULENT AS DETERMINED BY THE CORPORATION
C. DEPOSITS THAT ARE DETERMINED TO BE THE PROCEEDS OF AN
UNLAWFUL ACTIVITY
D. DEPOSIT ACCOUNTS OR TRANSACTIONS CONSTITUTING, AND/OR
EMANATING FROM, UNSAFE AND UNSOUND BANKING PRACTICE/S,
AS DETERMINED BY THE CORPORATION
A 24 Who can only restrain the actions of the corporation
concerning deposits that is final and executor?
A. SUPREME COURT
B. COURT OF APPEALS
C. LOWER COURTS
D. REGIONAL TRIAL COURT
C 25 It refers the unpaid balance of money or its equivalent
received by a bank in the usual course of business.
A. INVESTMENT
B. SAVINGS
C. DEPOSIT
D. DEPOSIT SUBSTITUTE
D 26 It refers to any individual or entity with a valid claim
against the assets of the closed bank.
A. DEBTOR
 B. CORPORATION
C. BANK
D. CREDITOR
B 27 It refers to a transaction where an insured bank purchases
any or all assets and assumes any or all liabilities of
another bank under resolution or liquidation.
A. LIQUIDATION
B. PURCHASE OF ASSETS AND ASSUMPTION OF LIABILITIES
C. CONVERSION OF ASSETS
D. PAYMENT OF LIABILITIES
C 28 What is the penalty imposed to any director, officer,
employee or agent of a bank for his willful refusal to
submit reports as required by law, rules and regulations?
A. IMPRISONMENT OF NOT LESS THAN THREE (3) YEARS BUT NOT
MORE THAN TEN (10) YEARS OR A FINE OF NOT LESS THAN ONE
HUNDRED THOUSAND PESOS (P100,000.00) BUT NOT MORE THAN
FIVE MILLION PESOS (P5,000,000.00)
B. IMPRISONMENT OF NOT LESS THAN TWELVE (12) YEARS BUT NOT
MORE THAN FOURTEEN (14) YEARS
C. IMPRISONMENT OF NOT LESS THAN SIX (6) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS OR A FINE OF NOT LESS THAN
FIFTY THOUSAND PESOS (P50,000.00) BUT NOT MORE THAN TEN
MILLION PESOS (P10,000,000.00)
D. IMPRISONMENT OF NOT LESS THAN TWELVE (12) MONTHS BUT
NOT MORE THAN FIFTEEN (15) YEARS OR A FINE OF NOT LESS
THAN TWENTY THOUSAND PESOS (P20,000.00) BUT NOT MORE
THAN ONE MILLION PESOS (P1,000,000.00)
C 29 What is the penalty imposed to any director, officer,
employee or agent of a bank for his unjustified refusal to
permit examination and audit of the deposit records or the
affairs of the institution?
A. IMPRISONMENT OF NOT LESS THAN THREE (3) YEARS BUT NOT
MORE THAN TEN (10) YEARS OR A FINE OF NOT LESS THAN ONE
HUNDRED THOUSAND PESOS (P100,000.00) BUT NOT MORE THAN
FIVE MILLION PESOS (P5,000,000.00)
B. IMPRISONMENT OF NOT LESS THAN TWELVE (12) YEARS BUT NOT
MORE THAN FOURTEEN (14) YEARS
C. IMPRISONMENT OF NOT LESS THAN SIX (6) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS OR A FINE OF NOT LESS THAN
FIFTY THOUSAND PESOS (P50,000.00) BUT NOT MORE THAN TEN
MILLION PESOS (P10,000,000.00)
D. IMPRISONMENT OF NOT LESS THAN TEN (10) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS, OR A FINE OF NOT LESS THAN
FIVE HUNDRED THOUSAND PESOS (P500,000.00) BUT NOT MORE
THAN TEN MILLION PESOS (P10,000,000.00
A 30 What is the penalty imposed to any person for his refusal
to turn over possession or custody of the asset and record
of the closed bank to the receiver, notwithstanding any
agreement to the contrary?
A. IMPRISONMENT OF NOT LESS THAN SIX (6) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS OR A FINE OF NOT LESS THAN
 FIFTY THOUSAND PESOS (P50,000.00) BUT NOT MORE THAN TEN
MILLION PESOS (P10,000,000.00)
B. IMPRISONMENT OF NOT LESS THAN TEN (10) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS, OR A FINE OF NOT LESS THAN
FIVE HUNDRED THOUSAND PESOS (P500,000.00) BUT NOT MORE
THAN TEN MILLION PESOS (P10,000,000.00)
C. IMPRISONMENT OF NOT LESS THAN FIFTEEN (15) YEARS, BUT
NOT MORE THAN SEVENTEEN (17) YEARS
D. IMPRISONMENT OF NOT LESS THAN TWELVE (12) YEARS BUT NOT
MORE THAN FOURTEEN (14) YEARS
A 31 What is the penalty imposed any bank officer who certifies
to the validity of the deposit liabilities which is
subsequently verified to be fictitious and/or fraudulent?
A. IMPRISONMENT OF NOT LESS THAN TEN (10) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS, OR A FINE OF NOT LESS THAN
FIVE HUNDRED THOUSAND PESOS (P500,000.00) BUT NOT MORE
THAN TEN MILLION PESOS (P10,000,000.00)
B. IMPRISONMENT OF NOT LESS THAN TWELVE (12) YEARS BUT NOT
MORE THAN FOURTEEN (14) YEARS
C. IMPRISONMENT OF NOT LESS THAN FIFTEEN (15) YEARS, BUT
NOT MORE THAN SEVENTEEN (17) YEARS
D. IMPRISONMENT OF NOT LESS THAN EIGHTEEN (18) YEARS BUT
NOT MORE THAN TWENTY (20) YEARS
B 32 What is the penalty imposed to any person who
participates, or attempts to participate, in a scheme to
defraud a bank?
A. IMPRISONMENT OF NOT LESS THAN EIGHTEEN (18) YEARS BUT
NOT MORE THAN TWENTY (20) YEARS
B. IMPRISONMENT OF NOT LESS THAN TWELVE (12) YEARS BUT NOT
MORE THAN FOURTEEN (14) YEARS
C. IMPRISONMENT OF NOT LESS THAN TEN (10) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS, OR A FINE OF NOT LESS THAN
FIVE HUNDRED THOUSAND PESOS (P500,000.00) BUT NOT MORE
THAN TEN MILLION PESOS (P10,000,000.00)
D. IMPRISONMENT OF NOT LESS THAN SIX (6) YEARS BUT NOT
MORE THAN TWELVE (12) YEARS OR A FINE OF NOT LESS THAN
FIFTY THOUSAND PESOS (P50,000.00) BUT NOT MORE THAN TEN
MILLION PESOS (P10,000,000.00)
B 33 It refers to the claim recognized by the receiver or
allowed by the liquidation court.
A. CLAIM
B. VALID CLAIM
C. LIQUIDATION CLAIM
D. DISPUTED CLAIM
D 34 It means a deposit in an insured bank made available to a
depositor by the Corporation as payment of insured deposit
of such depositor in a closed bank and assumed by another
insured bank.
A. VALID DEPOSIT
B. DISPUTED DEPOSIT
C. UNDISPUTED DEPOSIT
 D. TRANSFER DEPOSIT
A 35 It include all documents, titles, papers and electronic
data of the closed bank, including those pertaining to
deposit accounts of and with the closed bank, its assets,
transactions and corporate affairs.
A. RECORDS
B. BOOKS
C. FINANCIAL STATEMENTS
D. DOCUMENTS
C 36 With the approval of the ____ and upon the recommendation
of the ____ the Corporation is authorized to issue bonds,
debentures, and other obligations, both local or foreign,
as may be necessary for purposes of providing liquidity
for settlement of insured deposits in closed banks.
A. PRESIDENT OF THE CORPORATION; BANGKO SENTRAL
B. SECRETARY OF FINANCE; PHILIPPINE DEPOSIT INSURANCE
CORPORATION
C. GOVERNOR OF THE BANGKO SENTRAL; PHILIPPINE DEPOSIT
INSURANCE CORPORATION
D. PRESIDENT OF THE PHILIPPINES; DEPARTMENT OF FINANCE
B 37 Which of the following is incorrect concerning the
issuance of bonds debentures and other obligations?
A. ALL NOTES, DEBENTURES, BONDS, OR SUCH OBLIGATIONS
ISSUED BY THE CORPORATION SHALL BE EXEMPT FROM TAXATION
BOTH AS TO PRINCIPAL AND INTEREST, AND SHALL BE FULLY
GUARANTEED BY THE GOVERNMENT OF THE REPUBLIC OF THE
PHILIPPINES
B. THE CORPORATION MAY ISSUE NOTES, DEBENTURES, BONDS, OR
OTHER DEBT INSTRUMENTS WITH THE APPROVAL OF THE
PRESIDENT OF THE PHILIPPINES, AS LONG AS THESE SHALL
NOT BE GUARANTEED BY THE NATIONAL GOVERNMENT
C. THE BOARD OF DIRECTORS SHALL HAVE THE POWER TO
PRESCRIBE THE TERMS AND CONDITIONS, RULES AND
REGULATIONS FOR THE ISSUANCE, REISSUANCE, SERVICING,
PLACEMENT AND REDEMPTION OF THE BONDS
D. THE GUARANTEE OF EXEMPTION FROM TAXATION, SHALL NOT
EXCEED TWO TIMES THE DIF AS OF DATE OF THE DEBT
ISSUANCE, SHALL BE EXPRESSED ON THE FACE THEREOF
D 38 The penalty of imprisonment of not less than fifteen (15)
years, but not more than seventeen (17) years shall be
imposed to which of the following?
A. ANY PERSON FOR HIS REFUSAL TO DISCLOSE INFORMATION,
RECORDS OR DATA PERTAINING TO THE BANK ACCOUNTS OF A
CLOSED BANK TO THE RECEIVER
B. ANY BANK OFFICER WHO CERTIFIES TO THE VALIDITY OF THE
DEPOSIT LIABILITIES WHICH IS SUBSEQUENTLY VERIFIED TO
BE FICTITIOUS AND/OR FRAUDULENT
C. ANY DEPOSITOR WHO FILES A FICTITIOUS AND/OR FRAUDULENT
CLAIM FOR DEPOSIT INSURANCE
D. A DIRECTOR OR OFFICER OF THE BANK WHO PARTICIPATES, OR
ATTEMPTS TO PARTICIPATE, IN A SCHEME TO DEFRAUD A BANK
C 39 The penalty of imprisonment of not less than ten (10)
years but not more than twelve (12) years, or a fine of
not less than Five hundred thousand pesos (P500,000.00)
but not more than Ten million pesos (P10,000,000.00), or
both, at the discretion of the court, shall be imposed
upon:
A. ANY BANK OFFICER WHO CERTIFIES TO THE VALIDITY OF THE
DEPOSIT LIABILITIES WHICH IS SUBSEQUENTLY VERIFIED TO
BE NOT FRAUDULENT
B. A DIRECTOR OR OFFICER OF THE BANK WHO PARTICIPATES, OR
ATTEMPTS TO PARTICIPATE, IN A SCHEME TO DEFRAUD A BANK
C. Any depositor who files a fictitious and/or fraudulent
claim for deposit insurance
D. ANY PERSON FOR HIS REFUSAL TO DISCLOSE INFORMATION,
CLOSED BANK TO THE PRESIDENT OF THE PHILIPPINES
D 40 It means the Board of Directors of the Corporation.
A. MONETARY BOARD
B. BOARD MEMBERS
C. BOARD OF TRUSTEES
D. BOARD OF DIRECTORS
B 41 It means any bank the deposits of which are insured.
A. INSURED CREDITOR
B. INSURED BANK
C. INSURED PARTY
D. INSURED DEPOSIT
C 42 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 Five hundred thousand pesos.
A. INSURED DEPOSITOR
B. INSURED BANK
C. INSURED DEPOSIT
D. INSURED PARTY
B 43 It refers to the Regional Trial Court (RTC) of general
jurisdiction where the petition for assistance in the
liquidation of a closed bank is filed and given due
course.
A. COURT
B. LIQUIDATION COURT
C. JURISDICTION COURT
D. LOWER COURT
A 44 It refers to the payment of insured deposits.
A. PAYOUT
B. PAYMENT
C. COMPENSATION
D. DEPOSIT PAYMENT
A 45 Which of the following is a report of financial condition
of a closed bank?
A. STATEMENT OF AFFAIRS
B. STATEMENT OF FINANCIAL PERFORMANCE
C. STATEMENT OF LIQUIDATION
D. STATEMENT OF BANKRUPTCY
D 46 Which of the following is a dividend computed at the legal
rate of interest from the date of takeover to cut-off date
of the distribution plan, and shall be paid, in cash or in
kind, to creditors of the closed bank?
A. CASH DIVIDEND
B. LEGAL DIVIDEND
C. DIVIDEND INCOME
D. SURPLUS DIVIDEND
B 47 An asset distribution plan may be ____ when it pertains to
the distribution of a portion or some of the assets of the
closed bank.
A. FULL
B. PARTIAL
C. PORTIONAL
D. FINAL
C 48 An asset distribution plan may be ___ when it pertains to
the distribution of all the assets of the dosed bank.
A. FULL
B. PORTIONAL
C. FINAL
D. PARTIAL
A 49 Which of the following is synonymous and interchangeable
and shall include banks, commercial banks, savings banks,
mortgage banks, rural banks, development banks,
cooperative banks, stock savings and loan associations and
branches and agencies in the Philippines of foreign banks
and all other corporations authorized to perform banking
functions in the Philippines?
A. BANK AND BANKING INSTITUTION
B. BANK AND QUASI-BANK
C. FINANCIAL INSTITUTION AND BANKING INSTITUTION
D. BANKS AND PHILIPPINE DEPOSIT INSURANCE CORPORATION
B 50 Whenever a bank is ordered closed by the ____, the
Corporation shall be designated as receiver and it shall
proceed with the takeover and liquidation of the closed
bank.
A. BOARD OF DIRECTORS
B. MONETARY BOARD
C. PDIC BOARD
D. PRESIDENT OF THE PHILIPPINES