Questions and Answers

 1. An autonomous association of persons united voluntarily to meet their

common economic, social, and cultural needs and aspirations through a jointly-
owned and democratically-controlled enterprise.
o A. Government
o B. Cooperative
o C. Union

 2. Check the three basic interests of business.

o A. Ownership
o B. Manager
o C. Control
o D. Supervise
o E. Beneficiary

 3. Cooperatives are owned, managed, and patronized by _______.

o A. Members
o B. Manager
o C. Proprietor

 4. Cooperatives serve best when they answer the needs of the_______.

o A. Members
o B. Manager
o C. Proprietor

 5. Check the COOP PRINCIPLES & PRACTICES.

o A. Open and Voluntary Membership
o B. Democratic Member Control
o C. For Lending and Credit

 6. In Cooperatives, membership is forced.

o A. True
o B. False
  

 7. In cooperatives, the members are the owners of the business.

o A. True
o B. False

 8. Check the cooperative values.

o A. Self-help
o B. Self-responsibility
o C. Democracy
o D. Autocratic
o E. Business-minded

 9. One of the purposes of Cooperative is to encourage _________.

o A. Thrift and savings
o B. Borrow when there's no money
o C. Lending all the way

 10. A type of coop that caters to lending services.

o A. Credit Coop
o B. Consumers Coop
o C. Producers Coop
o D. Multi-purpose coop

 11. A type of coop that is formed by farmers to save money selling crops and
other products of farmers.
o A. Credit Coop
o B. Consumers Coop
o C. Producers Coop
o D. Multi-purpose coop

 12. What is the primary capital of cooperatives?

o A. Member's share capital
o B. Savings
o C. Donations
  

 13. What are the two types of membership?

o A. Regular
o B. Permanent
o C. Associate
o D. Part time

 14. Death can be a reason to terminate a member in the coop.

o A. True
o B. False

 15. A member can continue to be a member even he does not patronize the Coop
services.
o A. True
o B. False

 16. A member can be terminated if he is mentally ill.

o A. True
o B. False

 17. What are the duties of a Coop member?

o A. Attend general assembly
o B. Patronize products and services
o C. Always apply for a credit
o D. Withdraw the capital share

 18. What is the highest governing body of the Cooperative?

o A. General Assembly
o B. BOD
o C. Officers

 19. Who will preside the General Assembly?

o A. Officers
 o B. Chairman
o C. Committees

 20. How many times the General Assembly must meet in a year?

o A. Only once a year
o B. Twice a year
o C. One, but BOD might call a special meeting

 21. The Board of Directors has the power to create new policies that can be
implemented directly without the General Assembly's approval.
o A. True
o B. False

 22. BOD's number should be odd.

o A. True
o B. False

 23. What committee is responsible for the approval of the loans?

o A. Audit committee
o B. Credit committee
o C. Supervisory committee

 24. What committee is responsible for the checking and analysis of the financial
reports?
o A. Credit committee
o B. Audit committee
o C. Supervisory committee

 25. Check the choices that hold true about the education committee.
o A. Responsible for auditing
o B. Calls the meeting
o C. Recruits new members
o D. Gives training and lecture about the coop