Covered transaction refers to a a transaction in cash

173. “Covered transaction” refers to:
A. A transaction in cash or other equivalent monetary instrument exceeding Five Hundred Thousand Pesos (P500,000)
B. A transaction exceeding One Million Pesos (P1,000,000) in cases of jewelry dealers in precious metals and dealers in
precious stones
C. All of the above
D. None of the above
174. “Unlawful Activity” refers to any act or omission, or series or combination thereof, involving or having direct relation, to the
following, except”

175. (1) Covered institutions shall maintain accounts only in the true account owner or holder. The provisions of existing laws to the
contrary notwithstanding, anonymous accounts, accounts under fictitious names, incorrect name accounts and all other similar
accounts shall be ABSOLUTELY prohibited.
(2) When a covered institution acquires the business of another covered institution, either in whole or as a product portfolio, it is
NOT NECESSARY for the identity of all existing customers to be re-established: Provided, that all customer account records are
acquired with the business and due diligence inquiries do not raise any doubt as to whether or not the acquired business has
fully complied with all the requirements business has fully complied with all the requirements under the AMLA and these Rules.
NEW CENTRAL BANK ACT
176. The State’s central monetary authority charged with the responsibility of administering the monet ary, banking and credit system
of the country and is granted the power of supervision and examination over bank and non-bank financial institutions performing
quasi-banking functions, including savings and loan associations.
177. The following are roles of the BSP, except for:
A. Banker of the Government
B. Representation with the National Treasury
C. Representation with the ÌMF
D. Fiscal Operations
178. The following are BSP privileges and prohibitions, except for: 179. All noted and coins issued by the Bangko Sentral shall be fully guaranteed by the Government of the Republic of the Philippines
and shall be legal tender in the Philippines for all debts, both public and private.
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