Assessment
Question 1
Which of the following does not necessarily characterize a cooperative?
A. Autonomy
B. Common bond of interest
C. Voluntary involvement
D. Absence of capital
Question 2
A cooperative whose members are natural persons is called
A. Primary
B. Natural
C. Parent
D. De jure
Question 3
Which of the following is not a qualification for membership to a primary cooperative?
A. Natural born resident citizen
B. Of legal age
C. Common bond of interest
D. Actually residing or working in the intended area of operation.
Question 4
A single-purpose cooperative may transform into a multi-purpose cooperative only after at
least how many years of operations?
A. 2
B. 3
C. 4
D. 5
Question 5
Multi-purpose cooperatives must have a minimum paid-up capital of
A. P15,000
B. P50,000
C. P100,000
D. P250,000
Question 6
Duly registered cooperatives shall have what extent of liability?
A. Unlimited
B. Limited
C. None at all
D. To the extent fixed by its by-laws
Question 7
Cooperatives have maximum legal life of 50 years. This period may be extended for periods
not exceeding 50 years in any single instance by an amendment of the articles of
cooperation. However, no extension can be made earlier than ______ prior to the original
or subsequent expiry date unless there are justifiable reasons for an earlier extension.
A. 3 years
B. 5 years
C. 7 years
D. 10 years
Question 8
The preferred share capital of a cooperative shall not exceed what percent of its total
authorized share capital?
A. 5%
B. 10%
C. 20%
D. 25%
Question 9
No member shall own more than what percent of the subscribed share capital of a
cooperative?
A. 5%
B. 10%
C. 15%
D. 20%
Question 10
When does a cooperative acquire juridical personality?
A. From the formation of all its members
B. From the transfer of funds to the cooperatives
C. From the issuance of certificate of registration by the CDA
D. From the assumption of offices by its directors
Question 11
Which type of cooperative has the primary purpose of procuring and distributing
commodities to its members and non-members?
A. Credit
B. Consumers
C. Service
D. Producers
Question 12
This type of cooperative undertakes joint production whether agricultural or industrial.
A. Producers
B. Multi-purpose
C. Consumers
D. Marketing
Question 13
This type of cooperative is organized for the primary purpose of engaging in savings and
credit services and other financial services.
A. Cooperative bank
B. Financial service cooperative
C. Lending cooperative
D. Commercial cooperative
Question 14
A laboratory cooperative is one organized by
A. Scientists
B. People of scientific background
C. Minors
D. Researchers
Question 15
What type of cooperative member has no right to vote or be voted upon and shall only be
entitled to any such rights and privileges as the bylaws may provide?
A. Regular member
B. Associate member
C. Loyal member
D. Disloyal member