A board of directors b executive committee c general

Info icon This preview shows pages 17–20. Sign up to view the full content.

A. Board of Directors B. Executive Committee C. General Assembly D. Board of Members 82. Which of the following is a ground for involuntary dissolution of a cooperative through an order by a competent court after hearing? A. Insolvency B. Willful failure to operate on a cooperative basis C. Failure to meet the required number of members of the cooperative D. Having obtained its registration through fraud 83. What is the required vote for the merger of two or more cooperative into a single cooperative? A. At least ¾ of all the members with voting rights B. At least 2/3 of all the members with voting rights C. At least majority of all the members with voting rights D. At least 25% of all members with voting rights 84. What is the maximum par value of a share in a cooperative? A. P5 B. P100 C. P10 D. P1,000 Page 18
Image of page 17

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

85. What is the maximum limit on the share ownership of a member in a cooperative? A. 10% of the share capital of the cooperative B. 5% of the share capital of the cooperative C. 25% of the share capital of the cooperative D. 20% of the share capital of the cooperative 86. It refers to the fund which is the first priority in the distribution of the net surplus of the cooperative. It pertains to the fund to be used for the stability of the cooperative and to meet net losses in its operations. A. Retained earnings B. Reserve fund C. Education and training fund D. Optional fund 87. A cooperative is intended to be established with authorized capital stock of P100,000 and actual subscribed capital stock of P40,000. What is the minimum paid up capital of this proposed cooperative? A. P5,000 B. P10,000 C. P15,000 D. P25,000 Note: Cooperative Code fixed the minimum paid up capital at P15,000. Page 19
Image of page 18
PHILIPPINE DEPOSITOR INSURANCE CORPORATION LAW 88. Which of the following is not insured by Philippine Deposit Insurance Corporation? A. Certificate of time deposit B. Investment in government bonds C. Savings deposit D. Demand or checking account 89. What is the maximum period provided by law to depositors to file their claim before Philippine Deposit Insurance Corporation from its takeover of the closed bank? A. Two years B. Three years C. Four years D. Five years BANK SECRECY LAW 90. Under Republic Act No. 6426 also known as Foreign Currency Deposit Act of the Philippines, what is the only exception provided by such law from the absolute confidentiality of foreign currency deposit? A. Upon 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. Upon order of a competent court in cases of bribery or dereliction of duty of public officials. D. In cases where the money deposited or invested is the subject matter of the litigation. 91. Which of the following is not protected by Republic Act No. 1405 also known as Bank Secrecy Law?
Image of page 19

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 20
This is the end of the preview. Sign up to access the rest of the document.
  • Summer '18
  • Jane
  • Contract Law, Managing Partner, real estate mortgage

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern