A that for a period of three days he has failed after

Info icon This preview shows pages 5–8. Sign up to view the full content.

View Full Document Right Arrow Icon
A. That for a period of three days, he has failed, after demand, to pay any moneys deposited with him or received by him in a fiduciary capacity. B. That he has while in state of solvency, made an payment, gift, grant, sale, conveyance or transfer of his estate, property, rights or credit. C. That being a merchant or tradesman, he has generally defaulted in the payment of his current obligations for a period of five days. D. That he has made any assignment, gift, sale, conveyance or transfer of his estate, property, rights or credits with intent to hinder or delay the liquidation or defraud his creditor. 23. It refers to a corporate rehabilitation proceedings initiated by the insolvent juridical person by filing it in court. A. Voluntary court-supervised rehabilitation proceedings B. Involuntary court-supervised rehabilitation proceedings
Image of page 5

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

View Full Document Right Arrow Icon
C. Informal rehabilitation proceedings D. Prenegotiated rehabilitation proceedings Page 6 24. What is the minimum claim of creditors or group of creditors in order to file a petition for involuntary court-supervised rehabilitation proceedings of an insolvent corporation? A. Any creditor or group of creditors with a claim of. or the aggregate of whose claims is, at least P1,000,000 or at 25% of the subscribed capital stock, whichever is higher. B. Any creditor or group of creditors with a claim of. or the aggregate of whose claims is, at least ten P10,000,000 or at least 50% of the subscribed capital stock, whichever is higher. C. Any creditor or group of creditors with a claim of. or the aggregate of whose claims is, at least One billion pesos or at least 40% of the subscribed capital stock, whichever is higher. D. Any creditor or group of creditors with a claim of. or the aggregate of whose claims is, at least One hundred million pesos or at least 10% of the subscribed capital stock, whichever is higher. ANTI MONEY LAUNDERING COUNCIL 25. Which of the following is a covered person, therefore, required to report to AMLC reportable or suspicious transactions? A. Educational institution B. Casinos C. Mining companies D. Transportation companies 26. Anti-Money Laundering Council refers to the financial intelligence unit of the Republic of the Philippines which is the government agency tasked to implement the AMLA. Which of the following statements regarding the composition of AMLC is incorrect? A. The chairperson of AMLC is the BSP governor. B. The Insurance Commissioner is a member of AMLC. C. The SEC Chairperson is a member of AMLC. D. The BIR Commissioner is a member of AMLC. COOPERATIVE 27. What is the maximum ownership of Foreigners in a cooperative in the Philippines? A. None B. 40% C. 60% D. 100%
Image of page 6
Page 7 INTELLECTUAL PROPERTY 28. It refers to an intellectual property granted or issued by IPO which gives an exclusive right to an inventor of a product, process or an improvement of a product or process which is new, inventive and useful to exclude others from making, using, or selling the product of his invention during the life of the intangible asset.
Image of page 7

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

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

{[ 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