1.

It is a bank which creates or accepts demand deposits subject to

withdrawal by checks and primarily organized to carry on the
business of accepting drafts and issuing letters of credit,
discounting and negotiating promissory notes, receiving deposits,
buying and selling foreign exchange and gold and silver bullion
and lending money against the borrower’s security in property.
a. Rural bank;
b. Thrift bank;
c. Universal bank;
d. Commercial bank.

2. No. 1 - The Ombudsman may inquire into the bank deposit of a

public officer whose case is pending criminal investigation in
the Ombudsman even if there is no actual case filed in court.
No. 2 - A writ of garnishment directed to a bank deposit is
prohibited by law.
a. Both are false.
b. Both are true.
c. No. 1 is false; No. 2 is true.
d. No. 1 is true; No. 2 is false

3. Jose and his wife, Perla, opened and maintained the following
accounts with Allied Bank Recto. (a) Savings deposit – P300,000;
(b) Demand deposit – P400,000; (c) Time deposit - P350,000.
They also have the same deposits with the same amount in Allied
Bank Makati. If Allied bank becomes insolvent the Philippine
Deposit Insurance Corporation will be bound to be liable to the
spouses for its insurance liability equivalent to
a. Two deposits.
b. One deposit.
c. Six deposits.
d. Three deposits.

4. Which of the following is a proper defense against the

application of the "short-swing" profit rule?
a. That the sale or purchase was not the result of
information obtained by such owner, officer, director or
beneficial owner because of his or her position.
b. That one was no longer an officer at the time of either
the sale or purchase of the securities.
c. That the same was not sold or purchased within the
statutory three month period.
d. That the beneficial owner was not such both at the time
of the purchase and the sale.

5. Which among the following securities transactions require that

the securities be registered in order to be compliant with the
Securities Regulation Code?
a. A sale of capital stock of a corporation to its own
stockholders only where no fee is paid in connection with
the sale.
b. A bank selling its own securities.
c. An insurance company selling its own securities.
d. The transaction of a broker on the PSE pursuant to his
client's orders.