The amount allocated to the optional, land and building and any other

necessary fund of the cooperative shall not be more than ___ of the net
surplus.
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A. 10%
B. 7%

C. 15%
D. 20%

What seminar must be completed by a prospective member of a primary

cooperative? *
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A. Pre-Membership Education Seminar

B. Pre-Membership Election Seminar

C. Post-Membership Education Seminar
D. Post-Membership Enrichment Seminar

Who authorizes which to raise a revolving capital of the cooperative? *

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A. General assembly; board of directors

B. Board of directors; general assembly

C. Board of directors; executive committee
D. General assembly; executive committee
The kinds of membership in a cooperative are *
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A. Regular and associate

B. Regular and special

C. Ordinary and extra-ordinary
D. Class A and Class B

Notice in writing calling for a special meeting of the GA must be sent _____
prior to the meeting to all members entitled to vote. *
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A. 5 days
B. 10 days
C. One week

D. One month

The minimum number of natural persons required to organize a primary

cooperative is: *
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A. 5
B. 10
C. 15

D. 20
A cooperative duly registered shall have: *
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A. Comprehensive liability
B. Limited liability

C. Absolute liability
D. General liability

A single-purpose cooperative may transform into a multi-purpose

cooperative and may create subsidiaries only after at least: *
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A. 2 years of operation

B. 2 years from registration

C. 2 years from cooperation
D. 5 years from registration

No additional compensation other than per diems shall be paid to a director

of a cooperative during _____ of existence of any cooperative. *
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A. First year

B. First 2 years
C. First 3 years
D. First 5 years
Contracts executed between private persons and cooperatives prior to the
registration of the cooperative shall be _____ between the parties. *
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A. Void
B. Voidable
C. Valid

D. Unenforceable

A cooperative may register for a term not exceeding how many years? *
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A. 100
B. 50

C. 25
D. 20

The share capital of a primary cooperative shall be a par value fixed to any
figure not more than: *
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A. P500
B. P1,000

C. P5,000
C. P10,000
The amount allocated to the education and training fund of the cooperative
shall not be more than _____ of the net surplus. *
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A. 10%

B. 15%
C. 20%
D. 25%