1.

It is an exception unless such security or purchase is necessary to prevent loss

upon a debt previously contracted in good faith?

a. specific exception c. mix exception

b. general exception d. extraordinary exception

2. It is an exception in which purchased or acquired for any other reason in the

course of its operation?

a. specific exception c. mix exception

b. general exception d. extraordinary exception

3. What section of the General Banking Act eliminates the said special and general
exceptions?

a. Section 9 c. Section 10
b. Section 8 d. Section 11

4. An institution granted the power to authorize a bank to purchase or acquire shares

of its own capital stock or accept its own shares as a security for loan?

a. Money Board c. Monetary Board

b. International Board d. National Board

5. The rules prescribed by the Monetary Board in the issuance of shares of stocks by
a bank?

a. The banks shall issue dividends among its depositors

b. The banks shall demand the breakdown of stocks
c. The bank shall receive annual interest in the stocks
d. The banks shall issue par value stocks only.

6. In what period that the stock purchased or acquired be sold or disposed of at

public or private sale?

a. 1 year c. within 1 month

b. within 6 years d. within 6 months

7. It is a kind of a bank which shall not make any loan or discount on the security of
shares of its own capital stock?

a. Commercial bank c. Universal Bank

b. Thrift Bank d. Rural Bank