MLE

Question 1
1 / 1 pts
Which of the following is defined as a measure of the value of all goods and services produced by a
country’s residents and businesses. It estimates the value of the final products and services
manufactured by a country’s residents, regardless of the production location?
Inflation rate
CPI
Gross domestic product
Correct!
Gross national product

Question 2
1 / 1 pts
Which of the following is known as a severe worldwide economic depression that took place mostly
during the 1930s, beginning in the united states?
The great recession
The great economic depression
Correct!
The great depression
The great escape

Question 3
1 / 1 pts
Limited availability of a resource in comparison to limitless wants is otherwise known as
Enchanted kingdom
Correct!
Scarcity
Star city
Shortage

Question 4
1 / 1 pts
What are the two approaches in calculating the GDP (Gross Domestic Product) of an economy?
Real and nominal approach
Real and income approach
Correct!
Expenditure approach and income approach
Expenditure approach and nominal approach

Question 5
1 / 1 pts
Which of the following is not a factor of determining productivity?
Human Capital
Both Human Capital and Tehcnology
Correct!
None of the above.
 Technology

Question 6
1 / 1 pts
Which of the following is described as a GDP formula that takes the total income generated by the
goods and services produced?
Real GDP
Nominal GDP
Correct!
Income approach
Expenditure approach

Question 7
1 / 1 pts
Which of the following is not a major branch of economics?
None of the above.
Correct!
Keynesian Economics
Microeconomics
Macroeconomics

Question 8
1 / 1 pts
Which of the following is not a part of human capital?
Accounting Manager
Contractual Employee
Correct!
None of the choices
CEO

Question 9
1 / 1 pts
Which of the following is the formula for GDP using the income approach?
GDP = Total national income + Total taxes + Depreciation + Net foreign income factor
GDP = C + G + I + NX
GDP = C + G + I + X
Correct!
GDP = Total national income + Sales taxes + Depreciation + Net foreign income factor

Question 10
1 / 1 pts
What are the two types of GDP of an economy?
Expenditure and income GDP
Correct!
Real and nominal GDP
Real and income GDP
Expenditure and nominal GDP
Question 11
1 / 1 pts
Which of the following GDP uses constant prices from a base year in its computation?
GDP deflator
Correct!
Real GDP
Nominal GDP
Actual GDP

Question 12
1 / 1 pts
Which of the following is not true regarding the circular-flow diagram?
Households provide labor, capital and other production needs to firms in exchange for money.
There is continuity in the circular-flow diagram.
Correct!
Firms provide labor to households in exchange for money.
Firms provides goods and services to households in exchange for money.

Question 13
0 / 1 pts
The G in the formula for GDP using the expenditure approach means?
Governance
Correct Answer
Government
You Answered
Government spending
Great

Question 14
1 / 1 pts
Which of the following studies performance, structure, behavior and decision-making of an economy as
a whole?
Correct!
Macroeconomics
Keynesian economics
None of the above
Microeconomics

Question 15
1 / 1 pts
What is the real interest if there is an annual nominal interest of 5% and inflation of 2%?
2%
None of the choices
Correct!
3%
5%

Question 16
1 / 1 pts
Which of the following is described as sustained, long-term downturn in economic activity in one or
more economies?
Economic recession
Correct!
Economic depression
Recession
Depression

Question 17
1 / 1 pts
Which of the following is used to measure inflation?
GDP Deflator
None of the choices
Correct!
Both Producer Price Index and GDP Deflator
Producer Price Index

Question 18
1 / 1 pts
Productivity is the measure of
Work done per day
Work done per week
Work done by an economy
Correct!
Output per unit of input

Question 19
1 / 1 pts
The __________________ is a measure that examines the weighted average of prices of a basket of
consumer goods and services, such as transportation, food, and medical care.
Gross national product
Correct!
Consumer price index
Inflation rate
Gross domestic product

Question 20
1 / 1 pts
The X in the formula for GDP using the expenditure approach means?
eXTRA
Import
Correct!
Export
Internal

Question 21
1 / 1 pts
Which of the following is described as a slowdown in economic activity over the course of a normal
business cycle?
Economic depression
Depression
Correct!
Economic recession
Recession

Question 22
1 / 1 pts
The formula for the GDP deflator does not include which of the following?
Real GDP
Nominal GDP
None of the choices
Correct!
Actual GDP

Question 23
1 / 1 pts
Machinery and equipment belongs to which factor of productivity?
Correct!
Physical capital
None of the choices
Human capital
Technology

Question 24
1 / 1 pts
Which of the following is a correct definition of Economics?
The study of how animals and individuals make decisions about ways to use scarce resources to fulfill
wants and needs.
The study of how individuals but not societies make decisions about ways to use scarce resources to
fulfill wants and needs.
The study of how societies but not individuals make decisions about ways to use scarce resources to
fulfill wants and needs.
Correct!
The study of how individuals and societies make decisions about ways to use scarce resources to fulfill
wants and needs.

Question 25
1 / 1 pts
Which of the following would not increase productivity?
More skilled workers
Better technology
Investment in physical capital
Correct!
Downgrade in physical capital
Question 26
1 / 1 pts
Which of the following interest rates factors in inflation in the equation?
Actual interest
Correct!
Real interest
Effective interest
Nominal interest

Question 27
1 / 1 pts
Which of the following GDP uses the current market prices in its computation?
Actual GDP
Correct!
Nominal GDP
Real GDP
GDP deflator

Question 28
1 / 1 pts
Which of the following interests is also known as the stated rate?
Real interest
Effective interest
Actual interest
Correct!
Nominal interest

Question 29
0 / 1 pts
Which of the following is not a measure of productivity?
Labor productivity
GDP per capita
You Answered
Work done per day
Correct Answer
Work done by an economy

Question 30
1 / 1 pts
CPI is calculated by taking price changes for each item in the predetermined ___________ and averaging
them.
Basket of market
Basket of grapes
Correct!
Basket of goods
Basket of foods

Question 31
1 / 1 pts
Which of the following is described as the most commonly used GDP formula, which is based on the
money spent by various groups that participate in the economy?
Income approach
Real GDP
Correct!
Expenditure approach
Nominal GDP

Question 32
1 / 1 pts
Which of the following is defined as the monetary value in local currency of all final economic goods and
services within a country for a specific period of time.
Correct!
Gross domestic product
Inflation rate
Consumer price index
Gross national product

Question 33
1 / 1 pts
Additional trainings and seminars for the employee would most likely have what affect to productivity?
Decrease
No effect
Correct!
Increase
None of the choices

Question 34
1 / 1 pts
Analysis of the budgets of a multinational corporation would fall under?
None of the choices
Correct!
Microeconomics
Both Microeconomics and Macroeconomics
Macroeconomics

Question 35
1 / 1 pts
Which of the following studies economic interactions of a specific person, a single entity, or a company?
Correct!
Microeconomics
Economic development
Macroeconomics
None of the above

Question 36
1 / 1 pts
Consumer price index and producer price index differs in that
Producer price index is most frequently used as compared to consumer price index to identify periods
of inflation.
Consumer price index uses a market basket.
Correct!
None of the choices
Producer price index is from the perspective of the end consumers.

Next 8 questions:

Compute the nominal and real GDP for an economy that produces only sneakers and backpacks with the
following prices and quantities:

Sneakers - Q

Sneakers - P

Backpack - Q

Backpack - P

2017

10,000

$50.00

15,000

$20.00

2018

15,000

$55.00

20,000

$25.00

2020

20,000

$80.00

35,000
$50.00

2019

18,000

$65.00

30,000

$35.00

Question 37
1 / 1 pts
How much is the real GDP for 2018?
Correct!
$1,150,000
$2,220,000
$1,325,000
$800,000

Question 38
1 / 1 pts
How much is the nominal GDP for 2018?
$1,150,000
$2,220,000
Correct!
$1,325,000
$800,000

Question 39
1 / 1 pts
How much is the nominal GDP for 2020?
Correct!
$3,350,000
$1,700,000
$2,220,000
$1,500,000

Question 40
1 / 1 pts
How much is the nominal GDP for 2019?
$1,500,000
$1,700,000
Correct!
$2,220,000
 $3,350,000

Question 41
1 / 1 pts
How much is the real GDP for 2019?
$2,220,000
$1,700,000
Correct!
$1,500,000
$3,350,000

Question 42
1 / 1 pts
How much is the nominal GDP for 2017?
$1,325,000
Correct!
$800,000
$2,220,000
$1,150,000

Question 43
1 / 1 pts
How much is the real GDP for 2020?
$3,350,000
$2,220,000
Correct!
$1,700,000
$1,500,000

Question 44
1 / 1 pts
How much is the real GDP for 2017?
Correct!
$800,000
$1,150,000
$2,220,000
$1,325,000

Next 6 Questions:

Year

Market basket

Base year 2018

Base year 2019

Base year 2020

2018

PHP 1,000

?.

?.

2019

PHP 2,000

?,

?.

2020

PHP 2,500

?.

?.

Question 45
1 / 1 pts
Calculate the CPI for 2020 using 2018 as base year
Correct!
250
80
125
100

Question 46
1 / 1 pts
Calculate the CPI for 2019 using 2020 as base year
50
Correct!
80
250
40
Question 47
1 / 1 pts
Calculate the CPI for 2019 using 2018 as base year
100
40
50
Correct!
200

Question 48
1 / 1 pts
Calculate the CPI for 2018 using 2018 as base year
40
Correct!
100
50
80

Question 49
1 / 1 pts
Calculate the CPI for 2020 using 2019 as base year
100
80
250
Correct!
125

Question 50
1 / 1 pts
Calculate the CPI for 2018 using 2020 as base year
50
Correct!
40
250
80

MTME

Question 1
1 / 1 pts
Which of the following is described as a GDP formula that takes the total income generated by the
goods and services produced?

Correct!
Income approach
Real GDP
Expenditure approach
 Nominal GDP

Question 2
0 / 1 pts
Statement 1: Pawnshops usually require collateral for the amount provided.
Statement 2: Pawnshops usually charges interest in advance.

False, False
Correct Answer
True, True
You Answered
True, False
False, True

Question 3
1 / 1 pts
Any corporation formed or organized for the purpose of administering any trust or holding property or
on deposit for the use, benefit, or behoof of the trustee.

Trust manager
Correct!
Trust companies
Trust investment
Trust fund

Question 4
1 / 1 pts
Consumer price index and producer price index differs in that

Producer price index is from the perspective of the end consumers.

Consumer price index uses a market basket.
Correct!
None of the choices
Producer price index is most frequently used as compared to consumer price index to identify periods
of inflation.

Question 5
1 / 1 pts
Which of the following is not a part of human capital?

Accounting manager
Correct!
None of the choices
Contractual employee
CEO

Question 6
1 / 1 pts
Dishoarding means

Correct!
bringing out hoarded money into use and thus constitutes a source of supply of loanable funds.
money accumulated by banks from various sources.
not providing sufficient funds for depreciation of equipment. It takes place when business concerns do
not feel inclined to put part of their earnings into the depreciation fund which is used for replacement of
existing capital equipment when it wears out.
Savings done by households and firms out of their incomes are the biggest source of loanable funds.

Question 7
1 / 1 pts
Which of the following studies performance, structure, behavior and decision-making of an economy as
a whole?

Keynesian Economics
Correct!
Macroeconomics
None of the choices
Microeconomics

Question 8
1 / 1 pts
Which of the following is defined as a financial institution that accepts deposits, offers checking account
services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and
savings accounts to individuals and small businesses in developed cities and urban areas.

Land bank
Thrift bank
Government bank
Correct!
Commercial bank

Question 9
1 / 1 pts
Which of the following is not a major branch of economics?

None of the choices

Correct!
Keynesian Economics
Microeconomics
Macroeconomics

Question 10
0 / 1 pts
Which of the following would not increase productivity?

You Answered
 Investment in physical capital
More skilled workers
Correct Answer
Downgrade in physical capital
Better technology

Question 11
1 / 1 pts
What are the two approaches in calculating the GDP (Gross Domestic Product) of an economy?

Correct!
Expenditure approach and income approach
Expenditure approach and nominal approach
Real and nominal approach
Real and income approach

Question 12
1 / 1 pts
Credit unions are

provides credit to small borrowers who are not qualified to obtain small loans from banks.
any enterprise which engages in the underwriting of securities of other corporations.
Correct!
savings institution formed by a group of people for the benefit of its members.
None of the choices

Question 13
1 / 1 pts
Brokers and dealers are different because (Kris)?

Dealers only assist in the transfer of ownership

Correct!
Dealers owns the security they sell
Dealers do not bear risk
None of the choices

Question 14
1 / 1 pts
Productivity is the measure of

Correct!
Output per unit of input
Work done per week
Work done by an economy
Work done per day

Question 15
1 / 1 pts
Which of the following is not a factor of determining productivity?

Technology
Correct!
None of the choices
Human capital
Both Human capital and technology

Question 16
1 / 1 pts
The X in the formula for GDP using the expenditure approach means?

Import
External
Correct!
Export
Extra

Question 17
1 / 1 pts
Which of the following is described as a slowdown in economic activity over the course of a normal
business cycle?

Economic depression
Recession
Correct!
Economic recession
Depression

Question 18
1 / 1 pts
Which of the following interests is also known as the stated rate?

Correct!
Nominal interest
Real interest
Effective interest
Actual interest

Question 19
1 / 1 pts
CPI is calculated by taking price changes for each item in the predetermined ___________ and averaging
them.

Basket of foods
Basket of grapes
Basket of market
Correct!
 Basket of goods

Question 20
1 / 1 pts
Additional trainings and seminars for the employee would most likely have what affect to productivity?

Correct!
Increase
no effect
Decrease
None of the choices

Question 21
1 / 1 pts
Which of the following is not a key macroeconomic variable?

Correct!
Government policies
Gross domestic product
Unemployment rate
Interest rates

Question 22
1 / 1 pts
Which of the following GDP uses constant prices from a base year in its computation?

Correct!
Real GDP
Actual GDP
Nominal GDP
GDP deflator

Question 23
1 / 1 pts
Which of the following describes collectively the financial markets, the participants, and the instruments
and securities that are traded in the said market?

Bangko Sentral ng Pilipinas

Correct!
None of the choices
Government
Financial institutions

Question 24
1 / 1 pts
Which of the following GDP uses the current market prices in its computation?

Correct!
 Nominal GDP
GDP deflator
Actual GDP
Real GDP

Question 25
1 / 1 pts
Which of the following is defined as a measure of the value of all goods and services produced by a
country’s residents and businesses. It estimates the value of the final products and services
manufactured by a country’s residents, regardless of the production location?

CPI
Gross domestic product
Correct!
Gross national product
Inflation rate

Question 26
1 / 1 pts
Which of the following government banks was primarily created to coordinate and manage trust funds?

Al-amanah Islamic Investment Bank of the Philippines

None of the choices
Philippine National Bank
Correct!
Development Bank of the Philippines

Question 27
1 / 1 pts
Statement 1: Foreign participants refers to the participants from the rest of the world such as
households, government, financial and non-financial firms, and central bank. They exchange goods and
services within national boundaries. International trade and international finance are parts of
globalization.
Statement 2: consumers are generally described as that group receiving income, majority of which
typically come from wages and salaries. Such income is spent on goods and services and a part is saved.
Gross savings are equal to current expenditure less current income.

True, True
False, True
True, False
Correct!
False, False

Question 28
1 / 1 pts
Which of the following is not a financial institution?

Bank of the Philippine Islands

 Philippine National Bank
Correct!
Maynilad
Banco de Oro

Question 29
1 / 1 pts
Which of the following is not included as other non-bank financial institution?

Fund managers
Correct!
Corporations
None of the choices
Lending investor

Question 30
1 / 1 pts
Which of the following is defined as a type of financial institution that specializes in offering savings
accounts and originating home mortgages for consumers mostly in rural areas.

Commercial bank
Correct!
Thrift bank
Government bank
Land bank

Question 31
1 / 1 pts
What are the two types of GDP of an economy?

Correct!
Real and nominal GDP
Expenditure and income GDP
Expenditure and nominal GDP
Real and income GDP

Question 32
0 / 1 pts
Which of the following is not a measure of productivity?

Correct Answer
Work done by an economy
GDP per capita
Labor productivity
You Answered
Work done per day

Question 33
1 / 1 pts
Which of the following studies economic interactions of a specific person, a single entity, or a company?

Correct!
Microeconomics
Economic development
None of the choices
Macroeconomics

Question 34
1 / 1 pts
Which of the following is defined as the monetary value in local currency of all final economic goods and
services within a country for a specific period of time.

Correct!
Gross domestic product
Gross national product
Consumer price index
Inflation rate

Question 35
1 / 1 pts
The formula for the GDP deflator does not include which of the following?

Real GDP
Nominal GDP
None of the choices
Correct!
Actual GDP

Question 36
1 / 1 pts
All of the following except one is a source of demand of loanable funds

None of the choices

Correct!
Saving
Hoarding
Investment

Question 37
1 / 1 pts
Which of the following is described as sustained, long-term downturn in economic activity in one or
more economies?

Recession
Economic recession
Correct!
 Economic depression
Depression

Question 38
1 / 1 pts
Which of the following is not a government bank?

Al-amanah Islamic Investment Bank of the Philippines

Development Bank of the Philippines
Correct!
None of the choices
Philippine National Bank

Question 39
1 / 1 pts
Which of the following is not true regarding the circular-flow diagram?

Households provide labor, capital and other production needs to firms in exchange for money.
Correct!
Firms provide labor to households in exchange for money.
Firms provides goods and services to households in exchange for money.
There is continuity in the circular-flow diagram.

Question 40
1 / 1 pts
Machinery and equipment belongs to which factor of productivity?

Human capital
None of the choices
Correct!
Physical capital
Technology

Question 41
0 / 1 pts
The G in the formula for GDP using the expenditure approach means?

Governance
great
You Answered
Government spending
Correct Answer
Government

Question 42
1 / 1 pts
Which of the following is known as a severe worldwide economic depression that took place mostly
during the 1930s, beginning in the united states?
Correct!
The great depression
The great economic depression
The great escape
The great recession

Question 43
1 / 1 pts
Investment house refers to

None of the choices

savings institution formed by a group of people for the benefit of its members.
Correct!
any enterprise which engages in the underwriting of securities of other corporations.
provides credit to small borrowers who are not qualified to obtain small loans from banks.

Question 44
1 / 1 pts
Which of the following banks is created primarily to finance the acquisition and distribution of
agricultural estates for division and resell the same to small landholders?

Development Bank of the Philippines

Al-amanah Islamic Investment Bank of the Philippines
Correct!
Land bank of the Philippines
Philippine National Bank

Question 45
1 / 1 pts
The __________________ is a measure that examines the weighted average of prices of a basket of
consumer goods and services, such as transportation, food, and medical care.

Gross national product

Correct!
Consumer price index
Inflation rate
Gross domestic product

Question 46
1 / 1 pts
Which of the following is a correct definition of Economics?

The study of how individuals but not societies make decisions about ways to use scarce resources to
fulfill wants and needs.
The study of how societies but not individuals make decisions about ways to use scarce resources to
fulfill wants and needs.
 The study of how animals and individuals make decisions about ways to use scarce resources to fulfill
wants and needs.
Correct!
The study of how individuals and societies make decisions about ways to use scarce resources to fulfill
wants and needs.

Question 47
1 / 1 pts
_________ is a contract, represented by a policy, in which an individual or entity receives financial
protection or reimbursement against losses from an insurance company.

Underwriting
Correct!
Insurance
Broking
Dealing

Question 48
1 / 1 pts
__________ is the act or process of guaranteeing the distribution and sale of securities of any kind
issued by another corporation.

Insurance
Dealing
Broking
Correct!
Underwriting

Question 49
1 / 1 pts
Which of the following is created through R.A. 6848?

Development Bank of the Philippines

Bangko Sentral ng Pilipinas
Philippine National Bank
Correct!
Al-amanah Islamic Investment Bank of the Philippines

Question 50
1 / 1 pts
Statement 1: Budget deficits might increase the demand for loanable funds.
Statement 2: Investment tax credits that would generally lower the cost of borrowing money will
increase the supply for loanable funds.

False, True
Correct!
True, False
True, True
 False, False

Question 51
1 / 1 pts
Which of the following is described as the most commonly used GDP formula, which is based on the
money spent by various groups that participate in the economy?

Real GDP
Income approach
Nominal GDP
Correct!
Expenditure approach

Question 52
1 / 1 pts
Which of the following is not a financial system participant?

Government
Foreign participants
Correct!
None of the choices
Manufacturing companies

Question 53
1 / 1 pts
Which of the following is the biggest source of loanable funds?

Bank money
Dishoarding
Disinvestment
Correct!
Savings

Question 54
1 / 1 pts
Which of the following interest rates factors in inflation in the equation?

Effective interest
Nominal interest
Correct!
Real interest
Actual interest

Question 55
1 / 1 pts
Which of the following is the formula for GDP using the income approach?

Correct!
 GDP = Total national income + Sales taxes + Depreciation + Net foreign income factor
GDP = Total national income + Total taxes + Depreciation + Net foreign income factor
GDP = C + G + I + X
GDP = C + G + I + NX

Question 56
0 / 1 pts
The graph of the market for loanable funds will show which of the following?

You Answered
Interest rate as the Y-axis.
Price as the Y-axis.
Quantity as the X-axis.
Correct Answer
Real interest rate as the Y-axis.

Question 57
1 / 1 pts
What is the real interest if there is an annual nominal interest of 5% and inflation of 2%?

5%
2%
Correct!
3%
None of the choices

Question 58
0 / 1 pts
Which of the following is not true about securities brokers and dealers?

You Answered
None of the choices
Dealers and brokers play an important role in the Philippine stock market.
Dealers bear risk in the trading of securities.
Correct Answer
A private citizen can directly trade in PSE without interacting with brokers and/or dealers.

Question 59
1 / 1 pts
In the general sense of the market for loanable funds

Correct!
The lower the interest rate the higher the demand for loanable funds.
The higher the interest rate, the higher the demand for loanable funds.
The lower the interest rate the higher the supply for loanable funds.
The higher the interest rate, the lower the supply for loanable funds.

Question 60
1 / 1 pts
Which of the following is used to measure inflation?

GDP deflator
Correct!
Both Producer Price Index and GDP Deflator
None of the choices
Producer price index

Question 61
1 / 1 pts
Limited availability of a resource in comparison to limitless wants is otherwise known as

Star city
Enchanted kingdom
Shortage
Correct!
Scarcity

Question 62
1 / 1 pts
Businesses such as trading, manufacturing, extractive industries, construction and genetic industries
belongs to which class of financial system participant?

Financial intermediaries
Households/consumers
Government
Correct!
Non-financial institution

Next 8 questions:

The typical household in the nation of Jacksonia buys 4 loaves of bread, 3 pounds of cream cheese, and
8 books each week. The prices of these goods in years 2018, 2019, and 2020 are given in the table
below:

YEAR

Price of a loaf of bread

Price of a pound of cream cheese

Price of a book

2018

$1
$3

$10

2019

$2

$6

$20

2020

$3

$6

$25

Correct Answer

Question 63
1 / 1 pts
Calculate the CPI in 2019 using 2018 as base year

247
186
Correct!
200
100

Question 64
1 / 1 pts
Calculate the CPI in 2019 using 2020 as base year

100
50
Correct!
81
40

Question 65
1 / 1 pts
Calculate the CPI in 2018 using 2020 as base year
 81
100
Correct!
40
50

Question 66
1 / 1 pts
Calculate the CPI in 2020 using 2019 as base year

Correct!
124
200
50
100 units

Question 67
1 / 1 pts
Calculate the inflation rate between 2018 and 2019

10%
1
1%
Correct!
100%

Question 68
1 / 1 pts
Calculate the inflation rate between 2019 and 2020

Correct!
24%
0.24%
2.4%
2.4%

Question 69
1 / 1 pts
Calculate the CPI in 2018 using 2019 as base year

Correct!
50
100
200
124

Question 70
1 / 1 pts
Calculate the CPI in 2020 using 2018 as base year

Correct!
247
186
200
100

FLE

Question 1
1 / 1 pts
Which is false about the Foreign Currency Deposit Act?

Depositary banks which have been qualified by the Monetary Board to function under expanded
foreign currency deposit system are exempt in maintaining the fifteen percent foreign currency cover
for their liabilities in the form of foreign currency deposit with the BSP.
Correct!
Foreign currency deposits are subject to attachment, garnishment, or any other order or process of the
court.
Foreign currency deposits are of absolutely confidential in nature, except upon the written permission
of the depositor.
The foreign currency deposits maintained abroad by Filipino citizens are not covered by the provisions
of this act.

Question 2
1 / 1 pts
It refers to a crime committed by any person who knowing that any monetary instrument or property
represents, involves, or relates to the proceeds of any unlawful activity, transacts, converts, transfers,
disposes of, moves, acquires, possesses or uses said monetary instruments or proceeds of any unlawful
activity.

Forgery
Estafa
Bribery
Correct!
Money Laundering

Question 3
1 / 1 pts
Which of the following inquiries will be considered a violation of Philippine Peso deposit secrecy law?

Periodic inquiry or special examination of bank deposits by BSP to ensure compliance with the Anti-
Money Laundering Law.
Correct!
Inquiry of bank deposits by DOJ Secretary for the purpose of persecution of the members of the
opposing political party.
Inquiry of bank deposits by PDIC when there is finding of unsafe or unsound banking practices.
 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.

Question 4
1 / 1 pts
What is the possible maximum deposit insurance coverage if a depositor has several valid single
accounts and valid joint accounts in a closed bank?

P 500T
P 750T
Correct!
P 1M
P 1.5M

Question 5
1 / 1 pts
Which type of bank deposit of an impeachable officer may be examined by impeachment court without
consent of the impeachable officer?

Correct!
Philippine Peso Bank Deposit
Foreign Currency Bank Deposit
Neither Foreign Currency Bank Deposit nor Philippine Peso Bank Deposit
Both Foreign Currency Bank Deposit and Philippine Peso Bank Deposit

Question 6
1 / 1 pts
Which of the following is a predicate crime of Money Laundering Offense?

Rape
Correct!
Smuggling
Act of Lasciviousness
Sexual harassment

Question 7
1 / 1 pts
Which of the following is a predicate crime of Money Laundering Offense?

Correct!
Jueteng and masiao
Trespassing
Sedition
Libel

Question 8
1 / 1 pts
As a general rule, what is the threshold amount of the bank deposit to be required to file deposit
insurance claims to PDIC?

Correct!
Balance of more than P100,000
Balance of more than P1,000
Balance of more than P100
Balance of more than P10,000

Question 9
1 / 1 pts
How shall the AMLC make decision in the discharge of its functions?

By 1/3 vote of the three

Correct!
By unanimous vote of the three
By majority vote of the three
Any of the choices

Question 10
1 / 1 pts
Under the Foreign Currency Deposit Act of the Philippines or R.A 6426, what is the only exception for
the absolutely confidential nature of Foreign Currency Bank Deposits?

Correct!
Upon written permission or consent in writing by the depositor.
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.
In cases of impeachment of the President, Vice-president, members of the Supreme Court, members of
the Constitutional Commission and the Ombudsman for culpable violation of the Constitution, treason,
bribery, graft and corruption, other high crimes or betrayal of public trust.

Question 11
1 / 1 pts
What is the possible maximum deposit insurance coverage if a depositor has several valid single
accounts in a closed bank?

P 750T
P 1M
P 1.5M
Correct!
P 500T

Question 12
1 / 1 pts
Which of the following is insured by PDIC?

Trust account
Correct!
Demand or checking account
Investment in bonds issued by the government
Investment in stocks of a private corporation

Question 13
1 / 1 pts
Which court has the jurisdiction to issue a freeze order on bank accounts upon verified ex parte petition
by the AMLC and after determination that probable cause exists that any monetary instrument or
property is in any way related to an unlawful activity?

Court of tax appeals

Municipal trial court
Regional trial court
Correct!
Court of appeals

Question 14
1 / 1 pts
What is the government instrumentality created in 1963 by virtue of Republic Act 3591 to insure
deposits of all banks which are entitled to the benefits of insurance and considered as an attached
agency of the Department of Finance?

Landbank of the Philippines

Correct!
Philippine Deposit Insurance Corporation
Development Bank of the Philippines
Bangko Sentral ng Pilipinas

Question 15
1 / 1 pts
Which of the following disclosures will be considered a violation of Philippine peso deposit secrecy law?

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.
Reporting of unclaimed balances of a bank deposit to the Treasurer of the Philippines or Bureau of
Treasury by authorized bank officials.
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.
Correct!
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 purposes of offering credit cards.

Question 16
1 / 1 pts
Which of the following is a predicate crime of Money Laundering Offense?

Correct!
 Violation of Electronic Commerce Act of 2000 a.k.a RA No. 8792
Violation of BP 22 a.k.a Bouncing Checks Law
Violation of BP 68 a.k.a. Corporation Code of the Philippines
Violation of Data Privacy Act

Question 17
1 / 1 pts
Which of the following is not a predicate crime of Money Laundering Offense?

Smuggling
Extortion
Correct!
Homicide
Voyeurism

Question 18
1 / 1 pts
Which of the following is not true regarding Act No. 3936

past experience has shown that the cost of publication required by law, the increase of which has been
substantial the past few years, is more than the aggregate amount of the unclaimed balances to be
escheated, the average amount of which is small;
the law also provides for the publication of summons and a notice upon the commencement of the
prescribed judicial proceedings for the escheat of unclaimed balances;
Correct!
None of the choices
Act No. 3936 requires the publication of a sworn statement of unclaimed balances in banks once a
week of three consecutive weeks in at least two newspapers of general circulation in the locality where
the banks are situated, if there be any, and if there is none, in the City of Manila, one in English and one
in Spanish, the cost of which shall be paid by the Bureau of Treasury, which shall be reimbursed out of
the escheated funds;

Question 19
0 / 1 pts
Under the amendment to PDIC Charter, may PDIC pay the insured deposits of a depositor without
netting out depositor’s loan obligation with the closed bank?

No because it will violate the principles of legal compensation.

Correct Answer
No because it will violate the right to due process of the bank.
Yes, but only using the closed bank’s records alone.
You Answered
Yes, even based on evidence of deposits and not on the closed bank’s records alone.

Question 20
1 / 1 pts
Which of the following is not considered as an offense punishable as money laundering?
 Concealing, disguising the true nature, source, location, movement, or ownership of known proceeds
of any unlawful activity.
Converting, transferring, disposing of, acquiring, possessing, moving, or using known proceeds of any
unlawful activity.
Transacting known proceeds of any unlawful activity.
Correct!
Mere knowledge of proceeds of any unlawful activity.

Question 21
1 / 1 pts
As a general rule, which type of bank deposit may not be subject to attachment, execution or
garnishment?

Correct!
Foreign Currency Bank Deposit
Neither Philippine Peso Bank Deposit nor Foreign Currency Bank Deposit
Both Philippine Peso Bank Deposit and Foreign Currency Bank Deposit
Philippine Peso Bank Deposit

Question 22
1 / 1 pts
Which of the following deposits is insured by PDIC?

Deposit accounts constituting or emanating from unsafe or unsound business practices

Deposit accounts that are fictitious or fraudulent
Deposit accounts that are determined to be proceeds from an unlawful activity as defined in AMLA
Correct!
Deposit accounts that are funded.

Question 23
1 / 1 pts
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 withdrawal during the preceding ten years or more

Dormant accounts
Closed deposits
Correct!
Unclaimed balances
Dead accounts

Question 24
1 / 1 pts
It refers to a type of transaction that shall still be reported by a covered person to the AMLC even if the
transaction does not breach the quantitative threshold for reporting purposes by reason of the unusual
nature of the transaction.

Covered transaction
Correct!
Suspicious transaction
Exempted transaction
Reportable transaction

Question 25
1 / 1 pts
Which of the following is not a predicate crime of Money Laundering Offense?

Illegal recruitment
Swindling
Correct!
Adultery
Fencing

Question 26
1 / 1 pts
Which of the following institutions is not covered by Act No. 3936?

Mutual building and loan association

Correct!
Remittance companies
Trust companies
Banks

Question 27
1 / 1 pts
As a general rule, which court has original jurisdiction to try money laundering cases committed by
private individuals?

Municipal trial court

Sandiganbayan
Correct!
Regional trial court
Court of tax appeals

Question 28
1 / 1 pts
Under Republic Act No. 1405, the following instruments are considered absolutely confidential in
nature, except

Savings deposit
Current account
Correct!
Money market placement
Investment in government bonds

Question 29
1 / 1 pts
As a general rule, what is the quantitative threshold for any transaction in cash or other equivalent of a
covered person such as financial institutions to be considered reportable transaction to the AMLC?

Correct!
A transaction with amount exceeding P500,000
A transaction with amount exceeding P1,000,000
A transaction with amount exceeding P100,000
A transaction with amount exceeding P5,000,000

Question 30
1 / 1 pts
What is the minimum retention period of all records of customer identification and transaction
documents of their customers by a covered person under AMLA?

At least 3 years from the date of the transaction

At least 1 year from the date of the transaction
At least 10 years from the date of the transaction
Correct!
At least 5 years from the date of the transaction

Question 31
1 / 1 pts
Which of the following is not part of the AMLC?

Correct!
BIR Commissioner
BSP Governor
SEC Chairperson
Insurance Commissioner

Question 32
1 / 1 pts
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?

Correct!
Within 2 years from PDIC’s takeover of the closed bank
Within 4 years from PDIC’s takeover of the closed bank
Within 3 years from PDIC’s takeover of the closed bank
Within 1 year from PDIC’s takeover of the closed bank

Question 33
1 / 1 pts
Angel Locsin has the following four deposit accounts in a closed bank:
Angel Locsin P200,000
Kim Domingo for the account of Angel Locsin 100,000
Andrea Torres In Trust For Angel Locsin 300,000
Angel Locsin’s Business (Sole Propritorship) 600,000
What is the maximum deposit insurance coverage by PDIC in so far as Angel Locsin is concerned?

P 1M
Correct!
P 500T
P 800T
P 1.2M

Question 34
1 / 1 pts
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 for reporting purposes.

Exempted transaction
Suspicious transaction
Correct!
Covered transaction
Reportable transaction

Question 35
1 / 1 pts
Which of the following is not a suspicious transaction and therefore shall not be reported to the AMLC?

Transaction is any way related to unlawful activity or any money laundering activity or offense that is
about to be committed is being or has been committed.
Correct!
Transaction entered into in the ordinary course of business of the client.
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 that deviates from the client’s transactions with the covered person.

Question 36
1 / 1 pts
What is the penalty provided by law for violation of RA 1405?

Imprisonment of not more than one year or fine of not more than P2,000 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.
Correct!
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 twenty years or fine of not more than P2,000,000 or both
imprisonment and fine.

Question 37
1 / 1 pts
Which of the following deposits is not insured by PDIC?

Savings Deposit in Metrobank Manila Branch

Certificate of time deposit in Philippine National Bank Makati Branch
Correct!
Bank Deposit in Japan Bank Tokyo Branch
Special Savings in Bank of Philippine Islands Taguig Branch

Question 38
1 / 1 pts
It refers to the financial intelligence unit of the Republic of the Philippines which is entrusted with the
implementation of Anti-Money Laundering Law?

Insurance Commission
Securities and Exchange Commission
Correct!
Anti-Money Laundering Council
Monetary Board of the BSP

Question 39
1 / 1 pts
Which government agency has the authority to reactivate an unclaimed balance account?

Bureau of Customs
Bureau of Unclaimed Balance
Bureau of Internal Revenue
Correct!
Bureau of Treasury

Question 40
1 / 1 pts
Under Republic Act No. 1405, what is the nature of bank deposit and investment in government bonds?

They are exempted from any type of inquiry.

Correct!
As a general rule, they are absolutely confidential in nature.
None of the choices
As a general rule, they are generally subject to any type of inspection.

Question 41
1 / 1 pts
What is the validity of the initial freeze order immediately issued upon verified ex parte petition by the
AMLC?

Correct!
Period of 20 days
Period of 30 days
Period of 10 days
 Period of 60 days

Question 42
1 / 1 pts
What is the mode of payment by PDIC of claims of depositors from a closed bank?

By making available to each depositor a transferred deposit in another insured bank in an amount
equal to insured deposit of such depositor
Correct!
Either by cash or by making available to each depositor a transferred deposit in another insured bank in
an amount equal to insured deposit of such depositor
By cash
By checks, promissory note or bill of exchange

Question 43
1 / 1 pts
Which of the following is not a minimum customer identification to be required by a covered person
from its client or customer?

Correct!
Name of all relatives of customer
Nature of work and name of employer
Nationality of the customer
Name of customer, date and place of birth and present and permanent address

Question 44
1 / 1 pts
They refer to money or funds placed with a bank that can be withdrawn on the depositor’s order or
demand.

Money market placements

Trust funds
Correct!
Deposits
Deposit substitutes

Question 45
1 / 1 pts
Which of the following is not a suspicious transaction and therefore shall not be reported to the AMLC?

Transaction in which the amount involved is not commensurate with the business or financial capacity
of the client.
Correct!
Transaction in which the client is properly identified.
Transaction the has no underlying legal or trade obligation, purpose or economic justification.
Transaction that deviates from the profile of the client.

Question 46
1 / 1 pts
What is the objective of the Anti-Money Laundering Law?

Correct!
All of these
To ensure that the Philippines shall not be used as a money laundering site for the proceeds of any
unlawful activity
Consistent with its foreign policy, to extend cooperation in transnational investigations and
prosecutions of persons involved in any money laundering activities wherever committed
To protect the integrity and confidentiality of bank accounts

Question 47
1 / 1 pts
What petition may be filed by the Office of Solicitor General in behalf of the Republic of the Philippines
in order to forfeit unclaimed balances of a person who, dying intestate and leaving no heir entitled to his
estate?

Petition for mandamus

Petition for quo warranto
Petition for certiorari
Correct!
Petition for escheat

Question 48
1 / 1 pts
Unless changed by the AMLC, what is the period for reporting all covered transactions or suspicious
transactions by a covered person to AMLC?

Within 5 calendar days from the occurrence thereof

Correct!
Within 5 working days from the occurrence thereof
Within 15 working days from the occurrence thereof
Within 15 calendar days from the occurrence thereof

Question 49
1 / 1 pts
Which of the following is not a covered person and therefore is not required to report covered
transaction or suspicious transactions to AMLC?

Mutual funds or open-end companies, close-end investment, investment companies or issuers and
other similar entities
Securities dealers, brokers, salesmen, investment houses and other similar persons managing securities
or rendering services such as investment agents.
Correct!
Educational institutions or hospitals or restaurants.
Other entities administering or otherwise dealing in commodities, or financial derivatives based
thereon, valuable objects, cash substitutes, and other similar monetary instruments or properties
supervised and regulated by the SEC.
Question 50
1 / 1 pts
Which is of the following is not a covered person and therefore is not required to report covered
transaction or suspicious transactions to AMLC?

Insurance agents, brokers or professional reinsurers

Correct!
Convenience stores, grocery stores or supermarkets
Insurance companies or pre-need companies
Holding company, holding company system or mutual benefit association