Assignment Content

1. Question 1

All of the following are policies of Republic Act No. 10667 or otherwise known as Philippine
Competition Act, except:

1.

Penalize all forms of anti-competitive agreements, abuse of dominant position

and anti-competitive mergers and acquisitions.

2.

Prevent economic concentration which will control the production, distribution,

trade or industry that will unduly stifle competition, lessen, manipulate or
constrict the discipline of free market.

3.

The Act is meant to make the Philippine competition law in sync with similar
legislation of other countries, more importantly within the Association of South
East Asian Nations (ASEAN) region.

4.

Enhance economic efficiency and promote free and fair competition in trade,
industry and all commercial economic activities.

Feedback

Good work

2. Question 2

This refers to an entity that controls, or is controlled by, or is under common control with
another entity or entities, have common economic interests, and are not otherwise able to
decide or act independently of each other, shall not be considered competitors.
section 14 Anti-competitive ageeement
1.

Parent – associate doctrine.

2.

Single economic entity doctrine.

 3.

Parent – subsidiary doctrine.

4.

Answer not given.

Feedback

That's not correct

3. Question 3

A standstill period must not exceed:

1.

One hundred (100) days from the date of effectivity.

2.

One hundred fifty (150) days from the date of effectivity.

3.

Answer not given.

4.

One hundred twenty (120) days from the date of effectivity.

Feedback

Good work

4. Question 4

This refers to any type or form of undertaking, collective recommendation, independent or

concerted action or practice, whether formal or informal:

1.

Abuse of dominant position.

 2.

Anti-competitive conduct.

3.

Answer not given.

4.

Anti-competitive agreement.

Feedback

That's not correct

5. Question 5

If the court finds the petition for rehabilitation to be sufficient in form and substance, it shall,
within five (5) working days from the filing of the petition, issue a:

1.

Commencement Decision.

2.

Commencement Exercises.

3.

Stay or Suspension Order.

4.

Commencement Order.

Feedback

Good work

6. Question 6
 Any creditor or group of creditors with a claim of, or aggregate of whose claim is PhP1M or at
least 25% of the outstanding capital stock, whichever is higher, can initiate a voluntary court-
supervised rehabilitation proceedings.

1.

This statement is true.

2.

Answer not given.

3.

This statement is false.

Feedback

Good work

7. Question 7

The Philippine Competition Act has limited retroactive effect:

1. have no

This statement is true.

2.

This statement is neither true nor false.

3.

This statement is false.

Feedback

Good work

8. Question 8

This refers to fixing price at an auction or in any form of bidding including cover bidding, bid
suppression, bid rotation and market allocation and other analogous practices of bid
manipulation:
 1.

Bid rigging.

2.

Limiting production.

3.

Price fixing.

4.

Market sharing.

Feedback

Good work

9. Question 9

This refers to the joining of two (2) or more entities to form a new entity:

1.

Merger.

2.

Acquisition.

3.

Consolidation.

4.

Answer not given.

Feedback

That's not correct

10. Question 10
 This refers to that may be agreed upon by the parties pending negotiation and finalization of the
out-of-court or informal restructuring/workout agreement or Rehabilitation Plan contemplated
herein shall be effective and enforceable not only against the contracting parties but also against
the other creditors:

1.

Sandstill period.

2.

Standstill period.

3.

Answer not given.

4.

Jurassic period.

Feedback

Good work

11. Question 11

This refers to any duly licensed bank or quasi-bank that is potentially or actually subject to
conservatorship, receivership or liquidation proceedings under the New Central Bank Act
(Republic Act No. 7653) or successor legislation:

1.

Banko Sentral ng Pilipinas.

2.

Cooperatives.

3.

Quasi-Banks.

4.
 Banks.

Feedback

Good work

12. Question 12

Any creditor or group of creditors with a claim of, or aggregate of whose claim is PhP1M or at
least 25% of the outstanding capital stock, whichever is higher, can initiate a involuntary court-
supervised rehabilitation proceedings.

1.

This statement is false.

2.

Answer not given.

3.

This statement is true.

Feedback

Good work

13. Question 13

Statement I: Pre-negotiated rehabilitation proceedings can be instituted by the insolvent debtor

alone without any endorsement from anyone. Statement II: In a voluntary court-supervised
rehabilitation proceedings, any of the partners may initiate the same.

1.

Statement I is false, statement II is true.

2.

Statement I is true, statement II is false.

3.

Both statements are true.

 4.

Both statements are false.

Feedback

Good work

14. Question 14

This refers to the setting, limiting, or controlling production, markets, technical development, or
investment:

1.

Market sharing.

2.

Price fixing.

3.

Bid rigging.

4.

Limiting production.

Feedback

Good work

15. Question 15

Which of the following is not a minimum requirement for an Out-of-Court or Informal

Restructuring Agreements and Rehabilitation Plans?

1.

The creditor must agree to the out-of-court or informal restructuring/workout

agreement or Rehabilitation Plan.

2.
 It must be approved by creditors holding at least eighty-five percent (85%) of the
total liabilities, secured and unsecured, of the debtor.

3.

It must be approved by creditors representing at least sixty-seven percent (67%)

of the secured obligations of the debtor.

4.

It must be approved by creditors representing at least seventy-five percent (75%)

of the unsecured obligations of the debtor.

Feedback

Good work

16. Question 16

All of the following is qualification of a rehabilitation receiver, except:

1.

Has the requisite knowledge of insolvency and other relevant commercial laws,
rules and procedures, as well as the relevant training and/or experience that may
be necessary to enable him to properly discharge the duties and obligations of a
rehabilitation receiver.

2. not at least but 6 months

A citizen of the Philippines or a resident of the Philippines for at least one (1) year
immediately preceding his nomination.

3.

Answer not given.

4.

Of good moral character and with acknowledged integrity, impartiality and

independence.

Feedback

Good work
 17. Question 17

An existing business structure, conduct, practice or any act that may be in violation of the Act
shall be subject to penalties only if it is not cured or is continuing upon the expiration of three
(3) years after the effectivity of the act.

1.
expiration of two (2) years
This statement is neither true nor false.

2.

This statement is false.

3.

This statement is true.

Feedback

Good work

18. Question 18

This refers to proceedings in FRIA where all persons are affected by it and shall be considered as
acquired upon publication of the notice of the commencement of the proceedings in any
newspaper of general circulation in the Philippines.

1.

In personam.

2.

Real proceedings.

3.

In rem.

4.

Rem.

Feedback
 That's not correct

19. Question 19

This refers to a natural person who is a resident and citizen of the Philippines that has become
insolvent:

1.

Corporate debtor.

2.

Partnership debtor.

3.

Insolvent debtor.

4.

Individual debtor.

Feedback

Good work

20. Question 20

Two or more entities are competitor when:

1.

They offer "goods or services that are sufficiently interchangeable or

substitutable" in the same geographic area (i.e., they operate in the same relevant
market).

2.

Belong to different economic entities.

3.

One controls the Board of Directors of the other / others.

 4.

Answer not given.

Feedback

That's not correct

21. Question 21

All except refers to a debtor under the FRIA:

1.

Answer not given.

2.

A partnership duly registered with the Securities and Exchange Commission

(SEC).

3.

A sole proprietorship duly registered with the Department of Trade and Industry
(DTI).

4.

An individual debtor who has become insolvent.

Feedback

Good work

22. Question 22

This refers to restricting competition as to price, or components thereof, or other terms of trade:

1.

Limiting production.

2.

Bid rigging.
 3.

Price fixing.

4.

Market sharing.

Feedback

Good work

23. Question 23

This refers to a position of economic strength that an entity or entities hold which makes it
capable of controlling the relevant market independently from any or a combination of the
following: competitors, customers, suppliers, or consumers:

1.

Superior position.

2.

Dominant position.

3.

Domination.

4.

Answer not given.

Feedback

Good work

24. Question 24

In an "Anti-Competitive Agreements" the law prescribes a particular form:

1.

This statement is true.

 2.

This statement neither true nor false.

3.

This statement is false.

Feedback

That's not correct

25. Question 25

It refers to a plan by which the financial well-being and viability of an insolvent debtor can be
restored using various means including, but not limited to, debt forgiveness, debt rescheduling,
reorganization or quasi-reorganization, dacion en pago, debt-equity conversion and sale of the
business (or parts of it) as a going concern, or setting-up of new business entity as prescribed in
Section 62 hereof, or other similar arrangements as may be approved by the court or creditors:

1.

Rehabilitation plan.

2.

Receivership plan.

3.

Rejuvenation plan.

4.

Leche flan.

Feedback

Good work

26. Question 26

This refers to dividing or sharing the market, whether by volume of sales or purchases, territory,
type of goods or services, buyers or sellers or any other means:
 1.

Bid rigging.

2.

Market sharing.

3.

Price fixing.

4.

Limiting production.

Feedback

Good work

27. Question 27

The Philippine Competition Commission has been created as an independent quasi-judicial body
to implement the national competition policy and attain the objectives and purposes of the Act.
It is headed by a Chairperson and:

1.

Three (3) Commissioners.

2.

Two (2) Commissioners.

3.

Four (4) Commissioners.

4.

Five (5) Commissioners.

Feedback

Good work
28. Question 28

Statement I: The rehabilitation receiver shall refer to the person or persons, natural or juridical,
appointed as such by the court pursuant to this Act and which shall be entrusted with such
powers and duties as set forth herein. Statement II: When appointed, the management
committee shall take the place of the management and the governing body of the debtor and
assume their rights and responsibilities.

1.

Only statement II is true.

2.

Both statements are true.

3.

Only statement I is true.

4.

Both statements are false.

Feedback

Good work