Question 11

X is a depositor of AAA Bank. She has 3 deposit accounts all under her name. One, in checking account,
one in saving account and another one in time deposit account. Each account has a balance of P250,000.
AAA Bank became insolvent. PDIC closed the Bank. X therefore is unable to withdraw from all of the
accounts. She then filed her claims with the PDIC. Which statement is most accurate?

X can only claim from 1 account of P250,000

X cannot claim anything from any of the deposit accounts

X can claim a total of P750,000 from all 3 accounts

X can claim a total of P500,000 for all 3 accounts

Question 12

The Bank Secrecy Law (RA 1405) prohibits disclosing any information about deposit records of an
individual without court order except-

In cases filed by the Ombudsman

in an investigation for violation of Anti-Graft and Corrupt Practices

In Plunder cases

In an examination to determine the gross estate of a decedent

UnansweredQuestion 13

0 / 1 pts

Which is not a suspicious transaction under the Anti-Money Laundering Law?

the transaction is in a way related to an unlawful activity such as kidnapping for ransom
 a transaction in cash or other equivalent monetary instrument involving a total amount in excess of
Five Hundred Thousand Pesos (P500,000) within one (1) banking day.

the client of the covered person is not properly identified

A teacher earning P25,000 a month is making P490,000 deposit monthly

IncorrectQuestion 14

0 / 1 pts

Statement 1- A single casino cash transaction involving an amount in excess of Five million pesos
(P5,000,000.00) is considered a covered transaction under the Anti-Money Laundering Law.

Statement 2- A single cash transaction of real estate developers or brokers involving an amount
in excess of Seven million five hundred thousand pesos (P7,500,000.00) or its equivalent in any other
currency is also considered as a covered transaction under the Anti-Money Laundering Law.

Both statements are false

Only Statement 2 is true

Both statements are true

Only Statement 1 is true

Question 15

The purpose of the “Tender Offer” Rule is to:

Ensure that the shareholders who would also want to sell their shareholdings will have the opportunity
for a better price

Ensure that minority shareholders in a publicly listed company are protected in the sense that they will
equally have the same opportunity as the majority shareholders in terms selling their shares

All of the choices

Ensure an even playing field for all shareholders of a company in term of opportunity to sell their
shareholdings
Question 16

Which of the following is an exception to the secrecy of bank deposits which are in the Philippine Pesos,
but NOT an exception to the secrecy of foreign currency deposits?

Upon PDIC and BSP inquiry into examination of deposit accounts in case there is a finding of unsafe or
unsound banking practice

Upon inquiry by the Commissioner of Internal Revenue in the event a taxpayer files an application to
compromise his tax liabilities on the ground of financial incapacity

Upon inquiry in cases of impeachment

Upon BSP inquiry into or examination of deposits or investments with any bank, when the inquiry or
examination is made in the course of the BSP’s periodic special examination of said bank to ensure
compliance with the AMLA

IncorrectQuestion 17

0 / 1 pts

The Anti-Money Laundering Law is a law that seeks to prevent money laundering activities by providing
for more transparency in the Philippine Financial System, hence the following institutions are covered by
the law, except:

None of the choices

jewelry dealers of precious stones

banks and any financial institution

casino operators

IncorrectQuestion 18

0 / 1 pts

All of the choices pertain to the powers of a commercial bank. Which one is the exception?

the power of an investment house

issuance of letters of credit

Both the power of an investment house and the power to invest in non-allied enterprises
 the power to invest in non-allied enterprises

IncorrectQuestion 19

0 / 1 pts

A receiver is appointed if the Monetary Board finds that a bank or quasi bank:

In both cases

is in the state of illiquidity or the bank fails or refuses to maintain a state of liquidity adequate to
protect its depositors and creditors

In neither of the two cases

is unable to pay its liabilities as they become due in the ordinary course of business

IncorrectQuestion 20

0 / 2 pts

Statement 1- BSP may order the closure of a bank even without prior hearing. It may rely on the report
of either the conservator, receiver or the head of the supervising and examining department.

Statement 2- The principle embodied in the first statement is called the “Close now-hear later doctrine.”

Both statements are true

Only Statement 2 is true

Both statements are false

Only Statement 1 is true