ARTS-PRTC CPA Review

(Academic Review & Training School, Inc)

4F Anelle Bldg., Biak na Bato St. cor PNR Road, Tabuco, Naga City
 0917 6361700; 054 811-1877  arts-prtc@gmail.com; f: Arts-Prtc Cpa Review

ATTY. MICHAEL B. BONGALONTA CPA,MICB,MBA,CTT,DBA, MRIS,MRITAX

ANTI-BOUNCING CHECK LAW 2023
9. Which government agency is responsible for
enforcing BP 22?
1. What is BP 22?
A. The Bureau of Internal Revenue
A. A law on bounced checks
B. The Department of Justice
B. A law on bank regulations
C. The Securities and Exchange Commission
C. A law on tax evasion
D. The Bangko Sentral ng Pilipinas
D. A law on immigration

10. Which of the following is a defense against a BP 22

2. Which of the following best describes BP 22?
charge?
A. A civil liability law
A. The issuer of the check had no knowledge of
B. A criminal liability law
insufficient funds
C. A tax law
B. The issuer of the check did not receive a notice of
D. An immigration law
dishonor
C. The issuer of the check settled the debt after
3. What is the penalty for violating BP 22? receiving a notice of dishonor
D. All of the above
A. Imprisonment for 3-6 months
B. Imprisonment for 6-12 months
C. Imprisonment for 1-3 years 11. What is the purpose of BP 22?
D. Imprisonment for 3-5 years
A. To punish people who write bad checks
B. To regulate banks
4. Which of the following is considered a violation of BP C. To collect taxes
22? D. To enforce immigration laws

A. Issuing a check that has been postdated

B. Issuing a check that is marked "for deposit only"
C. Issuing a check that has insuffcient funds
D. Issuing a check for a small amount
5. Who is liable for violations of BP 22?
A. The bank that issued the bounced check
B. The person who presented the bounced check for
payment
C. The person who wrote the bounced check
D. The person who received the bounced check
12. Which of the following is not a requirement for a
check to be covered by BP 22?
A. The check must be drawn on a Philippine bank
B. The check must be in Philippine pesos
C. The check must be issued in the Philippines
D. The check must be for a large amount
13. Which of the following is not a consequence of a BP
22 conviction?
A. Imprisonment

B. Fine
6. What is the "notice of dishonor?"
C. Community service
A. A notification to the bank that a check has bounced
B. A notification to the person who wrote the bounced D. Deportation
check
C. A notification to the person who received the
bounced check
14. What is the age limit for criminal liability under BP
D. A notification to the court that a check has bounced
22?

A. 15 years old
7. How long does the issuer of the bounced check have
B. 18 years old
to settle the debt after receiving a notice of dishonor?
C. 21 years old
A. 7 days D. There is no age limit
B. 10 days
C. 15 days
15. Which of the following is a requirement for a notice
D. 30 days
of dishonor to be valid?

A. It must be in writing
8. What is the maximum amount of damages that can
B. It must be sent by mail or personal delivery
be awarded to the victim of a bounced check?
C. It must be received by the issuer of the check
A. Double the amount of the check D. All of the above
B. Triple the amount of the check
C. Quadruple the amount of the check
16. Which of the following is not a defense against a
D. Quintuple the amount of the check
BP 22 charge?
A. The person who wrote the check did not sign it
B. The person who presented the check for payment
altered it
C. The check was stolen from the issuer
D. The issuer of the check did not intend to defraud
anyone
17. What is the standard of proof in a BP 22 case?
A. Beyond a reasonable doubt
B. Clear and convincing evidence
C. Preponderance of evidence
D. Probable cause
18. Which of the following is not a requirement for a
bounced check to be covered by BP 22?
A. The check was issued to a person or entity
B. The check was issued in exchange for something of
value
C. The check was issued for a lawful purpose
D. The check was issued by a government agency
19. Which of the following is a consequence of a BP 22
conviction?
A. The issuer of the bounced check is blacklisted by
banks
B. The issuer of the bounced check is prohibited from
engaging in business
C. The issuer of the bounced check is required to pay a
bond
D. The issuer of the bounced check is subject to
enhanced penalties for subsequent violations
20. Which of the following is not a factor in
determining the penalty for a BP 22 conviction?
A. The amount of the bounced check
B. The length of time the issuer took to settle the debt
C. The issuer's criminal record
D. The issuer's financial capacity
21. What is the maximum penalty for a BP 22
conviction?
A. Imprisonment for 3-6 months and fine of up to
double the amount of the bounced check
B. Imprisonment for 6-12 months and fine of up to
triple the amount of the bounced check
C. Imprisonment for 1-3 years and fine of up to
quadruple the amount of the bounced check
D. Imprisonment for 3-5 years and fine of up to
quintuple the amount of the bounced check
22. What is the difference between BP 22 and estafa?
A. BP 22 is a civil liability law, while estafa is a criminal
liability law
B. BP 22 is a criminal liability law, while estafa is a civil
liability law
C. BP 22 covers bounced checks, while estafa covers
fraud in general
D. BP 22 covers fraud in general, while estafa covers
bounced checks
23. Which of the following is not a requirement for a
check to be valid under BP 22?
A. The check must be signed
B. The check must be dated
C. The check must be issued to a person or entity
D. The check must be for a large amount
24. Which of the following is a requirement for a notice
of dishonor to be valid?
A. It must be sent by email
B. It must be sent by fax
C. It must be sent by registered mail
D. It must be sent by courier
25. Which of the following is not a requirement for a
BP 22 conviction?
A. The check must have been presented for payment
within 90 days
B. The issuer of the check must have had no
knowledge of insufficient funds
C. The issuer of the check must have refused to settle
the debt after receiving a notice of dishonor
D. The check must have been issued in good faith
26. What is the purpose of the Anti-Bouncing Check
Law?
A. To legalize bounced checks
B. To regulate the use of checks
C. To punish people who issue bad checks
D. To protect banks from fraudulent checks
27. What is the significance of the phrase "account
closed" in a notice of dishonor?
A. It means the issuer of the check has no funds in
their account
B. It means the issuer of the check has closed their
account
C. It means the check is fraudulent
D. It means the check is postdated
28. What is a "postdated check?"
A. A check that is issued for a future date
B. A check that is marked "for deposit only"
C. A check that has insufficient funds
D. A check that is drawn on a foreign bank
29. Which of the following is not a requirement for a
notice of dishonor to be valid?
A. It must be sent to the address on the check
B. It must be sent within 24 hours of the bounced
check
C. It must be sent by registered mail
D. It must be received by the issuer of the check
30. Which of the following is not a defense against a
BP 22 charge?
A. The issuer of the check was a victim of fraud
B. The person who presented the check for payment
committed fraud
C. The check was destroyed before it could be
presented for payment
D. The issuer of the check did not intend to defraud
anyone
31. Which of the following is a requirement for a check
to be valid under BP 22?
A. It must be issued by a government agency
B. It must be for a small amount
C. It must be for a lawful purpose
D. It must be issued in foreign currency
32. Which of the following is not a consequence of a BP
22 violation?
A. The issuer of the bounced check may lose their
license or permit to operate a business
B. The issuer of the bounced check may be subject to
enhanced penalties for subsequent violations
C. The issuer of the bounced check may have their
passport revoked
D. The issuer of the bounced check may be blacklisted
by banks
33. Which of the following is not a requirement for a
check to be valid under BP 22?
A. The check must be issued to a specific person or
entity
B. The check must be for a specific amount
C. The check must be signed by the issuer
D. The check must have an expiration date
34. Which of the following is a factor in determining
the penalty for a BP 22 conviction?
A. The amount of the bounced check
B. The issuer's reputation in the community
C. The financial status of the victim
D. The gravity of the offense
35. What is the difference between BP 22 and estafa?
A. BP 22 covers bounced checks, while estafa covers
fraud in general
B. BP 22 covers fraud in general, while estafa covers
bounced checks
C. BP 22 is a civil liability law, while estafa is a criminal
liability law
D. BP 22 is a criminal liability law, while estafa is a civil
liability law
36. Which of the following is a defense against a BP 22
charge?
A. The issuer of the check did not receive a notice of
dishonor
B. The issuer of the check is a senior citizen
C. The issuer of the check had a valid reason for
issuing a bad check
D. The issuer of the check is a government employee
37. Which of the following is not a requirement for a
notice of dishonor to be valid?
A. It must be sent by registered mail
B. It must be in writing
C. It must be received by the issuer of the check
D. It must be sent within 5 days of the bounced check
38. What is the purpose of BP 22?
A. To regulate the use of checks
B. To legalize bounced checks
C. To collect taxes
D. To punish people who issue bad checks
39. Which of the following is not a consequence of a BP
22 conviction?
A. The issuer of the bounced check may be required to
pay attorney's fees
B. The issuer of the bounced check may be required to
pay moral damages
C. The issuer of the bounced check may be required to
pay exemplary damages
D. The issuer of the bounced check may be required to
pay for the victim's medical expenses
40. What is the difference between civil liability and
criminal liability under BP 22?
A. Civil liability covers fines, while criminal liability
covers imprisonment
B. Civil liability covers imprisonment, while criminal
liability covers fines
C. Civil liability covers damages, while criminal liability
covers penalties
D. Civil liability covers penalties, while criminal liability
covers damages
41. Which of the following is not a requirement for a
notice of dishonor to be valid?
A. It must include the reason for dishonor
B. It must include the name of the bank where the
check was presented
C. It must include the date and time of presentation
D. It must include the name of the person who
presented the check
42. What is the maximum amount of interest that can
be charged on a bounced check under BP 22?
A. 6% per annum
B. 12% per annum
C. 18% per annum
D. 24% per annum
43. Which of the following is not a defense against a
BP 22 charge?
A. The issuer of the check had a valid reason for
issuing a postdated check
B. The issuer of the check had no knowledge of
insufficient funds
C. The issuer of the check settled the debt before the
deadline
D. The issuer of the check did not receive a notice of
dishonor
44. Which of the following is not a requirement for a
check to be valid under BP 22?
A. The check must be issued by a private individual
B. The check must be dated
C. The check must be signed by the issuer
D. The check must be in Philippine pesos
45. Which of the following is not a consequence of a BP
22 conviction?
A. The issuer of the bounced check may be required to
undergo counseling
B. The issuer of the bounced check may be required to
perform community service
C. The issuer of the bounced check may be required to
pay restitution
D. The issuer of the bounced check may be prohibited
from engaging in business
46. Which of the following is a requirement for a check
to be valid under BP 22?
A. The check must be marked "for deposit only"
B. The check must be signed by the person who
presented it for payment
C. The check must be presented for payment within 30
days
D. The check must be issued for a lawful purpose
47. Which of the following is not an element of a BP 22
violation?
A. The issuance of a check
B. The presentation of a check for payment
C. The refusal to settle the debt after receiving a notice
of dishonor
D. The presentation of a check with insufficient funds
48. Which of the following is not a consequence of a BP
22 conviction?
A. The issuer of the bounced check may be required to
pay exemplary damages
B. The issuer of the bounced check may be required to
pay moral damages
C. The issuer of the bounced check may be required to
pay for the victim's lost profits
D. The issuer of the bounced check may be required to
pay attorney's fees
49. Which of the following is a requirement for a notice
of dishonor to be valid?
A. It must include the name of the bank where the
check was presented
B. It must include the name of the person who wrote
the check
C. It must be sent by email
D. It must be received within 10 days of the bounced
check
50. Which of the following is not a defense against a
BP 22 charge?
A. The person who presented the check for payment
committed fraud
B. The issuer of the check has a standing loan with the
bank
C. The check was destroyed before it could be
presented for payment
D. The issuer of the check had no intention of issuing a
bad check
51. Which of the following is not a requirement for a
notice of dishonor to be valid?
A. It must be sent by registered mail
B. It must be sent within 5 days of the bounced check
C. It must include the reason for dishonor
D. It must be received by the issuer of the check
52. Which of the following is not a consequence of a BP
22 conviction?
A. The issuer of the bounced check may be required to
post a bond
B. The issuer of the bounced check may be required to
pay liquidated damages
C. The issuer of the bounced check may be blacklisted
by banks
D. The issuer of the bounced check may be required to
pay for the victim's travel expenses
53. Which of the following is a defense against a BP 22
charge?
A. The issuer of the check is a government employee
B. The issuer of the check had no intention of issuing a
bad check
C. The person who presented the check for payment
altered it
D. The issuer of the check settled the debt before the
deadline
54. Which of the following is not a requirement for a
check to be valid under BP 22?
A. The check must be dated

B. The check must be issued in triplicate

C. The check must be in Philippine pesos

D. The check must be signed by the issuer

55. Which of the following is not a consequence of a BP

22 conviction?

A. The issuer of the bounced check may be required to

pay consequential damages

B. The issuer of the bounced check may be required to

pay attorney's fees

C. The issuer of the bounced check may be required to

pay for the victim's medical expenses

D. The issuer of the bounced check may be required to

pay moral damages

56. Which of the following is not a requirement for a

notice of dishonor to be valid?

A. It must be received by the issuer of the check

B. It must be in writing

C. It must include the name of the bank where the

check was presented

D. It must be sent by courier

57. Which of the following is a requirement for a check

to be valid under BP 22?

A. The check must be issued by a foreign bank

B. The check must be postdated
C. The check must be issued to a fictitious name
D. The check must be for a real debt

58. Which of the following is not a consequence of a BP

22 conviction?

A. The issuer of the bounced check may be required to

attend a seminar on business ethics

B. The issuer of the bounced check may be required to

undergo psychosocial counseling

C. The issuer of the bounced check may be required to

perform community service

D. The issuer of the bounced check may be required to

pay the victim's lost profits