RFBT

WEEK 14
Quizzer no. 2

SET B

1. Under R.A. 1405, in which of the following cases is the bank deposits considered
absolutely confidential?
A. When there is written permission or consent in writing by the depositor.
B. In cases of impeachment of the President, Vice President , members of the
Supreme Court, members of the Constitutional Commission (Commission on
Elections, Civil Service Commission and Commission on Audit) and the
Ombudsman for culpable violation of the Constitution, treason, bribery, graft
and corruption, other high crimes or betrayal of public trust.
C. When there is order by a competent court on cases of bribery or dereliction
of duty of public official.
D. In cases of income tax deficiency investigation conducted by BIR
Commissioner.

2. Godji is a depositor of BDO Bank. She has three (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 Php1,500,000. BDO Bank
became insolvent. Philippine Deposit Insurance Corporation closed the Bank.
Godji therefore is unable to withdraw from all of the accounts. She then filed her
claims with the Philippine Deposit Insurance Corporation. Which statement is
most accurate?
A. Godji can claim a total of Php500,000 for all the three (3) accounts.
B. Godji can only claim from one (1) account of Php250,000.
C. Godji can claim a total of Php750,000 from all the three (3) accounts.
D. Godji cannot claim anything from any of the deposit accounts.

3. Cecil is a depositor of BDO Bank. She has three (3) deposit accounts all under her
name. BDO Bank became insolvent. Philippine Deposit Insurance Corporation
closed the Bank. Cecil therefore is unable to withdraw from all of the accounts.
She then filed her claims with the Philippine Deposit Insurance Corporation.
Which statement is most accurate?
A. Cecil can claim the insurance from PDIC anytime
B. Cecil can claim within two years from the time PDIC took over the bank
C. Cecil can claim a separate insurance if she has a joint account with the
same bank
D. Cecil is not obligated to pay for the insurance premium with PDIC

SET B
4. Under R.A 6426 a.k.a Foreign Currency Deposit Act of the Philippines, all foreign
currency deposits are absolutely confidential and cannot be examined inquired or
looked into by any person, government official, bureau or office, whether judicial
or administrative or legislative, or any private or public entity. What is the only
exception provided by R.A 6246 which allows valid examination or inquiry of
foreign currency deposits?
A. When there is a written permission or consent in writing by the depositor.
B. In cases of impeachment of the President, Vice President, members of the
Supreme Court, members of the Constitutional Commission (Commission
on Elections, Civil service Commission and Commission on Audit) and the
Ombudsman for the culpable violation of the Constitution, treason, bribery,
graft and corruption other high crimes or betrayal of public trust.
C. When there is order by a competent court in cases of bribery or dereliction
of duty of public officials.
D. When there is order by a competent court in cases of plunder.

5. The Bank Secrecy Law prohibits disclosing any information about deposit records
of an individual without court order except -
A. In an examination to determine gross estate of a decedent.
B. In an investigation for violation of Anti-Graft and Corrupt Practices.
C. In an investigation by the Ombudsman.
D. In an impeachment proceeding.

6. I. Whenever an insured bank shall have been closed by the Monetary Board, or
upon expiration or revocation of a bank’s corporate term, payment of the
insured deposits on such closed bank shall be made by the PDIC as soon as
possible either (1) by cash or (2) by making available to each depositor a
transferred deposit in another insured bank in an amount equal to insured
deposit of such depositor.
II. The PDIC, in its discretion, may require proof of claims to be filed before
paying the insured deposits, and that in any case where the PDIC is not
satisfied as to the validity of a claim for an insured deposit, it may require final
determination of a court of competent jurisdiction before paying such claim.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

7. I. The PDIC upon payment of any depositor shall be subrogated to all rights of
the depositor against the closed bank to the extent of such payment.
II. All payments by the PDIC of insured deposits in closed banks partake of the
nature of public funds.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

8. It is the policy of the Government:

I. To give encouragement to the people to deposit their money in banking
institutions.
II. To discourage private hoarding.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

SET B
9. I. All deposits of whatever nature with banks or banking institutions in the
Philippines may not be examined, inquired or looked into by any person,
government official, bureau of office.
II. All deposits of whatever nature with banks or banking institutions in the
Philippines including investments in bonds issued by the Government of the
Philippines, its political subdivisions and its instrumentalities, are hereby
considered as of an absolutely confidential nature.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

10. All deposits of whatever nature with banks or banking institutions in the
Philippines may not be examined, inquired or looked into by any person,
government official, bureau of office except upon
A. Written permission of the depositor.
B. In case of impeachment.
C. Upon order of a competent court in cases of bribery or dereliction of duty of
public officials.
D. All of the above

11. Which of the following is not an element of criminal violation of Batas Pambansa
Bilang 22 for issuance of worthless checks?
A. There must be intent to commit fraud upon the issuance of worthless check.
B. There must be making, drawing, and issuance of any check to apply for
account or for value.
C. There must be knowledge of the maker, drawer, or issuer that at the time of
issue he does not have sufficient funds in or credit with the drawee bank for
the payment of the check in full upon its presentment.
D. There must be subsequent dishonor of the check by the drawee bank for
insufficiency of funds or creditor dishonor for the same reason had not the
drawer, without any valid cause, ordered the bank to stop payment.

12. What is the prima facie evidence that the drawer of issuer of check has knowledge
that check he issued has insufficient fund?
A. The making, drawing and issuance of a check payment of which is refused
by the drawee because of insufficient funds in or credit with such bank, when
presented within ninety (90) days from the date of the check.
B. The making, drawing and issuance of a check payment of which is refused
by the drawee because of insufficient funds in or credit with such bank, when
presented within sixty (60) days from the date of the check.
C. The making, drawing and issuance of a check payment of which is refused
by the drawee because of insufficient funds in or credit with such bank, when
presented within thirty (30) days from the date of the check.
D. The making, drawing and issuance of a check payment of which is refused
by the drawee because of insufficient funds in or credit with such bank, when
presented within twenty (20) days from the date of the check.

13. What is the evidence or defense that may be used by the issuer of a worthless
check to destroy the prima facie evidence that he has knowledge of insufficiency
of fund of the check?
A. The maker or drawer pays the holder thereof the amount due thereon, or
makes arrangements for payment in full by the drawee of such check within
(5) banking days after receiving notice that such check has not been paid by
the drawee.
B. The maker or drawer pays the holder thereof the amount due thereon, or
makes arrangements for payment in full by the drawee of such check within

SET B
 (10) banking days after receiving notice that such check has not been paid by
the drawee.
C. The maker or drawer pays the holder thereof the amount due thereon, or
makes arrangements for payment in full by the drawee of such check within
(15) banking days after receiving notice that such check has not been paid by
the drawee.
D. The maker or drawer pays the holder thereof the amount due thereon, or
makes arrangements for payment in full by the drawee of such check within
(3) banking days after receiving notice that such check has not been paid by
the drawee.

14. Which of the following is not insured by Philippine Deposit Insurance Corporation?
A. Certificate of time deposit
B. Savings deposit
C. Investment in government bonds
D. Demand or checking account

16. A depositor has three separate join accounts with P2M balance, respectively, in
the same bank which is closed by BSP. How much is the maximum insured
amount by PDIC from these deposits concerning this particular depositor only?
A. P 1,500,000
B. P 750,000
C. P 500,000
D. P 250,000

17. Which depositors are exempted from filling their claims with PDIC and therefore
entitled to immediate/early payment of deposit insurance claim from PDIC?
A. Depositors with valid deposit accounts with balances of Php 400,000 and
below provided they have no obligations with the closed bank and have
complete and updated address in the bank records or have updated these
through the Mailing Address Update Form (MAUF) issued by the PDIC.
B. Depositors with valid deposit accounts with balances of Php200,000 and
below provided they have no obligations with the closed bank and have
complete band updated address in the bank records or have updated these
through the Mailing Address Update Form (MAUF) issued by the PDIC.
C. Depositors with valid deposit accounts with balances of Php300,000 and
below provided they have no obligations with the closed bank and have
complete and updated addresses in the bank records or have updated has
through the Mailing Address Update Form (MAUF) issued by the PDIC.
D. Depositors with valid deposit accounts with balances of Php100,000 and
below provided they have no obligations with the closed bank and have
complete and updated addresses in the bank records or have updated these
through the Mailing Address Update Form (MAUF) issued by the PDIC.

18. Under R.A. 1405, which of the following is not covered by the Bank Secrecy Law?
A. Investment in bonds issued by the Government of the Philippines, its political
subdivisions and its instrumentalities.
B. Vestment in time deposit
C. Investment in bonds issued by publicly traded corporations.
D. Savings deposits and demand deposits

19. What is the period of payment for claims for insured deposits by PDIC to insured
depositors of a closed bank?
A. Within 6 months from the date of filing of claims
B. Within 12 months from the date of filing of claims
C. Within 18 months from the date of filing of claims
D. Within 24 months from the date of filing of claims

SET B
 20. Mr. Angelito Ramos maintained the following deposits at ABC Bank:
Name of Depositor Type of Deposit Balance
Angelito Ramos
(maintained in the Head Office (HO) Savings Deposit P100,000
Angelito Ramos
(maintained in the HO) Time Deposit P500,000
Angelito Ramos
(maintained in Branch 1) Demand Deposit P100,000
Angelito Ramos
(maintained in Branch 2) Time Deposit P200,000
Angelito Ramos and XYZ Corp
(maintained in HO) Demand Deposit P500,000

ABC Bank was liquidated by the Bangko Sentral ng Pilipinas due to financial
reverses. How much is the UNINSURED deposit of Angelito Ramos?
A. P400,000 C. P100,000
B. P500,000 D. P900,000

21. Evelyn has two separate bank accounts with P2M and P3M balance, respectively,
in the same bank which is closed by BSP. Aside from that, Evelyn has a single
joint account with Arlene in the same bank with a balance of 1M. How much is the
maximum insured amount by PDIC from these deposits concerning Evelyn only?
A. P 1,500,000
B. P 750,000
C. P 500,000
D. P 1,250,000

22. Which of the following statements regarding BP 22 is FALSE?

A. Prosecution in a BP 22 case must establish that a written notice of dishonor
was actually received by the maker or drawer of the dishonored check.
B. A drawer of a dishonored check may be convicted under BP 22 even if he had
issued the dishonored check for payment of pre-existing obligation.
C. There may be criminal and civil penalties in BP 22
D. The constitutional guarantee that no person shall be imprisoned for non-
payment of debt was held to be a valid defense of a drawer or maker who
issued a dishonored check upon its presentation for payment.

23. The government agency granted the power to conduct an independent special
examination of banks and inquire into or examine deposit accounts of ailing banks
in the event there is finding of unsafe and unsound banking practice is
___________.
A. Bangko Sentral ng Pilipinas
B. Anti-Money Laundering Council
C. Philippine Deposit insurance Commission
D. Securities and Exchange Commission

24. The Bank Secrecy Law prohibits any person from disclosing to any person any
information, relative to the funds or properties belonging to the depositor in the
custody of the bank. Which of the following acts is not an exception to this rule?
A. Oral permission or consent by the depositor.
B. Upon order of the Commissioner of Internal Revenue in an application for
compromise of tax liability or determination a decedent’s gross estate.
C. Upon order of the court in cases of estafa and falsification of official
documents committed by public officials.

SET B
 D. Upon a subpoena issued by the Ombudsman concerning its fact finding
investigation relative to the information provided

25. I. Philippine Deposit Insurance Corporation (PDIC) shall insure the deposits of all
banks are entitled to the benefits of insurance.
II. The PDIC shall promote and safeguard the interests of the depositing public
by providing insurance coverage on all insured deposits and helping maintain a
sound and stable banking system.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

26. This is the amount due to any bonafide depositor for legitimate deposits in an
insured bank as of the date of closure but not to exceed Five hundred thousand
pesos (P500,000,000).
A. Insured deposit
B. Insured bank
C. Disputed claim
D. Deposit

27. I. A joint account regardless of whether the conjunction ‘and’ ’or’ ’and/or’ is
used, shall be insured separately from any individually-owned deposit
account.
II. That the aggregate of the interest of each co-owner over several joint
accounts, whether owned by the same of different combinations of
individuals, juridical persons or entities, shall likewise be subject to the
maximum insured deposit of Five hundred thousand pesos (P500,000.00).
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false.

28. I. If the account is held jointly by two or more natural persons, or by two or more
juridical persons or entities, the maximum insured deposit shall be divided into as
many equal shares as there are individuals, juridical person or entities, unless a
different sharing is stipulated in the document of deposit.
II. If the account is held by a juridical person or entity jointly with one or more
natural persons, the maximum insured deposit shall be presumed to belong
entirely to such juridical person or entity.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

29. This balance includes credits or deposits of money, bullion, security or other
evidence of indebtedness of any kind, and interest thereon with banks, buildings
and loan associations, and trust corporations, as hereinafter defined, in favor of
any person known to be dead or who has not made further deposits or
withdrawals during the preceding ten years or more.
A. Claimed balances
B. Unclaimed balances
C. Prescribed balances
D. Liquidated balances

SET B
30. I. The unclaimed balance, together with the increase and proceeds thereof,
shall be deposited with the Treasurer of the Philippines to the credit of the
Government of the Republic of the Philippines.
II. All banks, building and loan associations, and trust corporations shall forward
to the Treasurer of the Philippines a statement, under oath, of their respective
managing officers, of all credits and deposits held by them in favor of persons
known to be dead, or who have not made further deposits or withdrawals during
the preceding ten years or more.
A. Only I is true
B. Only II is true
C. Both are true
D. Both are false

31. Refers to the judicial process in which the State, by virtue of its sovereignty,
steps in and claims abandoned, left vacant, or unclaimed property, without there
being an interest person having a legal claim thereto.
A. Escheat proceedings
B. Power of taxation
C. Eminent domain
D. Power of succession

32. What is the prescriptive period allowed by law to depositors to file their claims for
insured deposits with PDCI?
A. 2 years from PDIC’s take over
B. 1 year from PDIC’s take over
C. 3 years from PDIC’s take over
D. 4 years from PDIC’s take over

SET B