Atty.

Macmod, CPA

Banking Laws and Other Commercial Laws

1. The law that created the BSP is a) ____________which became effective in the year b)
___________ but the general law governing all banks is c) _____________ known as
d)____________ which became effective in the year e)_____________.

2. The primary objectives of the BSP is a) ______________________ and b)

______________________.

3. The governing body of BSP is a) ___________________, composed of b)

___________________ and c) ________________ shall come from private sector. The
d)_______ shall act as chairman of the MB.

4. a)________________ are entities engaged in the lending of funds obtained in the form of
b)______________. They must be c) ___________________ and their funds must be from
the public, or deposits of d)___________________.

5. a) ________________ the only bank that can exercise the powers of an investment house.
They have the highest capitalization, whereas b) _________________ have lower
capitalization but higher than thrift banks.

6. a) _________________ are savings and mortgage banks, private development banks, etc.

7. Banks primarily operating for rural developments are a) _________________ whereas

banks primarily created under the Cooperative Code are b) ________________.

8. The bank for central banks is a) ________________ an international organization based in

b) ________________ and its stockholders are c) _______________ and not d)
_______________.

9. Only a) ______________ and b) _______________ are the banks that can accept or create
demand deposits without the approval of BSP.

10. The SBL rule means a) ________________ which is currently limited to b)

______________; whereas the DOSRI rule means c) __________________ and its purpose
is to limit the credit accommodation granted by the bank to its officers/directors, etc.

11. The term a) ________________ means the grant of small loans to poor or b)
______________ for their c) ________________.

12. Minors under our banking laws can open a a) ______________ provided they are b)
_____________, c) ______________ and it should only be d) __________________

13. The Law that created PDIC is a)___________ with primary purpose of b)
__________________ that shall c) _________________ up to d)_______________ per
depositor which can be claimed by the depositor within e) ______________ from the
takeover of the f) ________________ after the bank is closed due to g) _____________ as
ordered by the h) ________________.

14. The law protecting bank deposits from unlawful inquiry is a)____________ otherwise
known as b)______________ and its purpose is to discourage c) ______________ and
prohibits the inquiry into all deposits of any banks without d) ___________________ or
e) _______________ or in certain cases as f) _________________ and g) _________________
even without court order.

15. Under the unclaimed balances law a) __________________ that have become b)
_______________ for a period of c) __________________ may be d) ________________ by
the government after proper e) ________________.
16. In a) _______________ the purpose is b) _________________ and the amount of
indebtedness is c) ____________________, whereas in d) _________________, the
purpose is e) _______________ and some creditors may f) ___________________.

17. In Voluntary Insolvency a) ________________ whereas in Involuntary insolvency b)

______________. The former is filed by the c) __________________ whereas the latter is
filed by d) ______________.

18. Filing of Bond is required in a) ___________________________, b) __________________ no

bond is required.

19. _________________ refers to inability to pay one’s debts as they fall due whereas
________________ pertains to the process of recovery and reorganization and is
especially applicable to a ______________ such as ________________ and
________________.

20. Corporate rehabilitations are now under the jurisdiction of _________________ but
originally under ___________________.

21. The 3 types of rehabilitation proceedings are _________________, ________________, and

__________________.

22. The creditor/s referred to above must be holding at least ___________ of the debtor’s
total liabilities.

23. The five important parties in a rehabilitation proceeding are _______________,

________________, ________________, ________________, and _________________.

24. ___________________ is the person appointed by the court to oversee the operations of
the debtor but the real management and control of debtor’s operation normally belongs
to ________________.

25. The petition for rehabilitation shall be dismissed by the court if ___________________ is
not submitted within _________________ days from the initial hearing.

26. R.A. 8792 is also known as ___________________ , introduced in the year

__________________.
27. The principal purpose of the law is to facilitate domestic and international
_________________, whether __________________ or ______________________.
28. _________________________ refers to information generated by ___________________,
___________________ or ______________________.
29. _________________________ refers to a system intended for electronic and similar
methods of communications and data processing.
30. ____________________ a distinctive mark, symbol or sound in electronic form
representing the identity of a person.
31. ______________________ a secret code which secures and defends sensitive information.
32. _____________________ a person who is the source of the electronic document.
33. _____________________ an online service or network or operator of electronic or similar
facilities.
34. ___________________ any device by which electronic data are recorded, sent and
received, etc.
35. _________________ or ________________________ and ____________________ under the
law carries a minimum fine of ___________________ and imprisonment up to
_________________.

Anti-Money Laundering Law

 1. The law governing money laundering is a) _______________________ also known as
b) ________________ which took effect on c) __________________.
2. The law criminalizes a) ____________________ and considers it as a b)
______________, used as financial strategy especially by c) ______________.
3. The term a) _______________ covers all acts wherein b) ______________ are made to
appear as c) _________________.
4. The law provided for a) _______________ criminal acts, and the first five are
b)_____________, c)______________, d)______________, e) _____________ , f)
______________.
5. The law provided for the creation of a) __________ which will act as b)
_____________ with the principal duty of c) ___________________, and is composed
of d) __________ as chairman and as members e) __________________ and f)
______________.

6. The institutions or organizations mandated by the said law to report to AMLC are
a) ___________ b) _______________ and c) ________________.
7. The KYC Rule means a) ____________________ which requires the b) ___________ to
establish c) ____________________ based on d) ______________.
8. The transaction covered by the law is any transaction a) _________________ within b)
______________ or c) ______________ if involving d) ______________.
9. Failure of the a) _______________________ to report the above transactions or similar
acts covered by the law is punishable by b) _____________________ whereas breach
by confidentiality is punishable by c) _____________________.
10. The above law still prohibits the AMLC or any financial institution to divulge the
balance of a depositor’s bank account as prohibited by a) ___________________
unless b) _________________ or c) ___________________ or d)____________.

SECURITIES REGULATION CODE

1. The law regulating the selling of securities like shares of stocks is ________________
effective in the year _______________.
2. The government agency assigned to implement the law is __________________ headed
by the _________________ and ____________________; all appointed with a term of
_______________ and majority of them must be ___________________. It has jurisdiction
and supervision Over all ___________________, ___________________,, and
_____________________.
3.
4. _________________ are shares participation or interests in a corporation or in commercial
enterprise evidenced by a written instrument or certificate, written or electronic in
character.
5. ______________ refers to the obligor or creator of a security.
6. ______________ any person engaged in the business of buying and selling securities for
other person’s account.
7. ______________ any person engaged in the business of buying and selling securities for
his own account.
8. ______________ an organized market place that brings together buyers and sellers of
securities.
9. ______________ a general term that includes issues, or persons very close to the issuer
who has knowledge about the securities not available to outsiders.
10. ______________ a person who guarantees the distribution and sale of securities.

11. The law requires the _______________ of securities before they can be sold in public
except ______________ and __________________.
12. ______________ a director who is other than officer or employee of a corporation and
disqualified if he owns ________________ of the shares of the said corporation.
13. ______________ refers to the purchase of securities by an investor using the credit of the
broker to pay.
14. ______________ is the sale of security that is not yet owned by the seller.

15. ______________ a transaction where an investor sells a losing security to claim a capital
loss and within 30 days, repurchased it again for a bargain.

LAW ON INTELLECTUAL PROPERTIES

1. The law that governs Intellectual Properties is __________ which took effect on
__________. Intellectual property rights are for __________.
2. The law is divided into 5 parts consisting of __________, __________, __________,
__________, __________.
3. The government office tasked to implement the law is __________ headed by
__________ and __________. They must be __________, __________, __________. The
__________ must be a lawyer and __________ appointed for a term of __________
with one __________. The Office is under __________.
4. _______________ in any field of human activity is _______________ provided the 3
requisites are present ____________, _____________, ______________.
5. The term of patent is ______________ from _____________.
6. _______________ is the use of patented product without the authorization of the
patentees.
7. _______________ means any visible sign capable of distinguishing the goods, hence,
specifically called ____________; or service hence specifically called ____________
and shall have a life of ________________.
8. _______________ is the legal protection extended to the owner of the right in an
original work. It shall belong to the _______________ and shall last during his
_______________ plus ______________.
9. The 2 rights given to the authorities are _______________ and _________________.
10. Both _______________ and _______________ offer intellectual property protection but
the object of the first is ________________ whereas the second is for
________________.