For evidentiary purposes, an electronic document does not satisfy the requirement of an
original document.
*
1/1
A. True
B. False
Inquiry and examination of bank deposits is also prohibited in impeachment cases.
*
0/1
A. True
B. False
Correct answer
B. False
BP 22 punishes the non-payment of debt.*
1/1
TRUE
FALSE
The prosecution of any offense or violation under the AMLA shall proceed dependent to
any proceeding relating to the unlawful activity.
*
1/1
A. True
B. False
A transaction in cash or other equivalent monetary instrument involving a total amount in
excess of Five Hundred Thousand Pesos (Php500,000.00) within one (1) banking day.
*
1/1
A. Covered Transaction
B. Suspicious Transaction
C. Multiple transaction
D. None of the above
An individual receiving remittances, but has no family members working in the country
from which the remittance is made is
*
1/1
A. Covered Transaction
B. Suspicious Transaction
C. Multiple transaction
D. None of the above
An inquiry of the bank deposit is allowed when the money deposited or invested is the
subject matter of the litigation.
*
1/1
A. True
B. False
The Anti-Money Laundering Council (AMLC) is headed by:*
1/1
A. BSP Governor
B. SEC Commissioner
C. Insurance Commissioner
D. None of the above
Depositors have three (3) years from PDIC’s takeover of the closed bank to file their
deposit insurance claims.
*
1/1
A. True
B. False
It refers to communication by whatever means of any advertising or marketing material
which is directed to particular individuals.
*
1/1
A. Direct marketing
B. Direct communication
C. Direct advertising
D. Direct infringement
An oral notice to the maker of a check is enough to convict him with violation of BP 22.*
1/1
TRUE
FALSE
Depositors who have outstanding obligations with the closed bank regardless of amount of
deposits are required to file claims.
*
0/1
A. True
B. False
Correct answer
A. True
In all cases, banks should refuse the opening of new accounts of relatives of those they refer
as politically exposed persons (PEP).
*
1/1
A. True
B. False
Philippine Deposit Insurance Corporation (PDIC) is a Government Owned and Controlled
Corporation (GOCC).
*
1/1
A. True
B. False
Juan Dela Cruz is a public servant and also a farmer owning and cultivating five hectares
cornland. For several years, he had been saving and depositing to the bank an amount of
Php250,000 semi-annually. On March 15, 2018, he made a deposit amounting to
Php550,000.*
0/1
A. The transaction should be reported as Covered Transaction.
B. The transaction should be reported as Suspicious Transaction.
C. The transaction should be reported as Covered and Suspicious Transaction.
D. The transaction is not reportable.
Correct answer
B. The transaction should be reported as Suspicious Transaction.
All deposit accounts by a depositor in a closed bank maintained in the same right and
capacity shall be accounted separately.
*
0/1
A. True
B. False
Correct answer
B. False
This principle provides that the Processing of Personal data shall be adequate, relevant,
suitable, necessary, and not excessive in relation to a declared and specified purpose.
*
1/1
A. Principle of Proportionality
B. Principle of Legitimate Purpose
C. Principle of Relevance
D. Principle of Reasonable Extent
This involves the initial placement or introduction of the illegal funds into the financial
system.*
1/1
A. Layering
B. Placement
C. Integration
D. None of the above
Which of the following is not a requisite for an invention to be patented?
*
0/1
A. Novelty
B. Inventive Step
C. Ornamentality
D. Industrial Applicability
Correct answer
C. Ornamentality
Which of the following marks can be registered?
*
0/1
A. Marks consisting of a name of a living individual
B. Marks consisting of a name of a living President
C. Marks consisting of a name of a deceased President during the life of his widow
D. Marks consisting of a name of a deceased individual during the life of his widow
Correct answer
D. Marks consisting of a name of a deceased individual during the life of his widow
The maximum deposit insurance coverage is P500,000 per depositor effective June 1, 2009.
*
1/1
A. True
B. False
The PDIC, as Receiver, has the authority to adjust the interest rate on unpaid interests on
deposits if such rate is deemed unreasonably higher compared to market rates.
*
1/1
A. True
B. False
BP 22 is a crime against public interest.*
1/1
TRUE
FALSE
This is crime a whereby the proceeds of an unlawful activity are transacted, thereby
making them appear to have originated from legitimate sources.
*
1/1
A. Money Laundering
B. Terrorist Financing
C. Swindling
D. None of the above
The Bouncing Checks law considers whether or not malice and intent attended the issuance
of the check.*
1/1
TRUE
FALSE
Works of applied art has a term of protection of
*
0/1
A. Ten (10) years
B. Twenty-five (25) years
C. Thirty (30) years
D. Fifty (50) years
Correct answer
B. Twenty-five (25) years
The mere issuance of a worthless check would not make one liable for BP 22.*
0/1
TRUE
FALSE
Correct answer
TRUE
All deposits of whatever nature with banks or banking institutions in the Philippines are
considered as absolutely confidential in nature and may not be examined, inquired or
looked into by any person, government official, bureau or office.
*
1/1
A. True
B. False
Johann wrote a poem for his girlfriend Yna. Johanna bought a scented parchment paper and
wrote the 12-stanza poem by hand. Johann then sent the poem to Yna. Unfortunately,
things went sour between Johann and Yna and they eventually broke up. Yna, appreciating
the talent Johann poured in writing the poem, sold Johann's poem for profit. Johann got
mad, considering that the words were personal. Johann sued Yna for copyright
infringement. Is Yna liable for copyright infringement?
*
0/1
A. No. Yna is the owner of the physical manifestation of the poem.
B. No. Yna is the owner of the copyright.
C. Yes. Johann is the owner of the physical manifestation of the poem.
D. Yes. Johann is the owner of the copyright.
Correct answer
D. Yes. Johann is the owner of the copyright.
It refers to an individual whose personal information is processed.
*
1/1
A. Personal information provider
B. Personal information holder
C. Data subject
D. Data person
Multiple transactions with an amount not more than P500,000.00 each, but whose total
amount exceeds the threshold amount, are reportable as Covered Transaction.
*
0/1
A. True
B. False
Correct answer
A. True
The laundered funds are now incorporated back into the legitimate economy through the
purchase of properties, businesses and other investments.
*
1/1
A. Layering
B. Placement
C. Integration
D. None of the above
In BP 22 cases, court can order the arrest of a person who was charged when the later
failed to appear in court whenever required.*
1/1
TRUE
FALSE
Criminal liability attaches to the drawer of the check even if it was issued merely to
guarantee an obligation.*
1/1
TRUE
FALSE
This involves a series of financial transactions during which the dirty money is passed
through a series of procedures, putting layer upon layer of persons and financial activities
into the laundering process.
*
1/1
A. Layering
B. Placement
C. Integration
D. None of the above
It refers to a person or organization who controls the collection, holding, processing or use
of personal information, including a person or organization who instructs another person
or organization to collect, hold, process, use, transfer or disclose personal information on
his or her behalf.
*
0/1
A. Personal information collector
B. Personal information controller
C. Personal information manager
D. Personal information repository
Correct answer
B. Personal information controller
Parties to any electronic transaction shall be free to determine the type of level of
electronic data message or electronic document security needed.
*
1/1
A. True
B. False
Investments in bonds issued by the Government of the Philippines, its political
subdivisions and its instrumentalities are not included in the coverage of secrecy of bank
deposits.
*
1/1
A. True
B. False
AMLA requires that covered persons should establish, record and verify the true identity of
its clients based on official documents.
*
1/1
A. True
B. False
If the dishonored check was issued in payment of an existing obligation, the person can be
held liable for estafa.*
1/1
TRUE
FALSE
The secrecy of bank deposits includes safety deposit boxes.
*
0/1
A. True
B. False
Correct answer
B. False
BP 22 applies in cases where the dishonored checks were issued in the form of a deposit or
a guaranty.*
1/1
TRUE
FALSE
Any person may be charged with and convicted of both the offense of money laundering
and the unlawful activity.
*
1/1
A. True
B. False
A check bounces because there is not enough money or credit in a bank to cover its
amount.*
1/1
TRUE
FALSE
Disclosure of bank deposits is allowed if the depositor is charged with violation of the AntiMoney Laundering Law.
*
0/1
A. True
B. False
Correct answer
A. True
On 6 January 2017, an ambulant balut vendor made a deposit for an amount of
Php400,000. *
1/1
A. The transaction should be reported as Covered Transaction.
B. The transaction should be reported as Suspicious Transaction.
C. The transaction should be reported as Covered and Suspicious Transaction.
D. The transaction is not reportable.
FULL NAME (Last Name, First Name, MI)*
Cullanan, Roma Mae G.
The National Privacy Commission is an agency attached to
*
1/1
A. Department of National Defense
B. Commission on Human Rights
C. Department of Information and Communications Technology
D. Department of Privacy
An electronic contract of sale of services was entered into between Patrick and Bob. Patrick
is a resident of Marikina with principal place of business in Quezon City while Bob is a
resident of Pasig with principal place of business in Mandaluyong. While Patrick was on
vacation at Cebu City, Bob sent a contract of sale to Patrick. Patrick, through his mobile
phone, opened the document at Cebu City. Where is the electronic contract of sale
received?
*
1/1
A. Marikina
B. Quezon City
C. Pasig
D. Cebu City
The covered institutions and their officers and employees shall be considered to have
violated the Bank Secrecy Law when reporting covered or suspicious transactions to the
AMLC.
*
0/1
A. True
B. False
Correct answer
A. True
All depositors of closed banks are required to file claims to PDIC.
*
0/1
A. True
B. False
A sale made by an agent to himself, directly or indirectly, without the permission of the
principal is ineffectual. *
1/1
1. TRUE
2. FALSE
In all cases, the ownership in the goods sold passes to the buyer upon their delivery to the
carrier.*
1/1
1. TRUE
2. FALSE
In all the forms of delivery, it is necessary that the act be coupled with the intention of
delivering the thing. *
1/1
1. TRUE
2. FALSE
Traditio brevi manu is mode of delivery which takes place by the mere consent or
agreement of the contracting parties as when the vendor merely points to the thing sold
which shall thereafter be at the control and disposal of the vendee. *
0/1
1. TRUE
2. FALSE
Correct answer
FALSE
A document of title is symbol of the goods covered by it, serving as evidence of transfer of
title and transfer of possession. *
1/1
1. TRUE
2. FALSE
The thing is lost when it perishes or goes out of commerce or disappears in such a way that
its existence is unknown or it cannot be recovered. *
1/1
1. TRUE
2. FALSE
A sale between husband and wife is valid in all cases. *
1/1
1. TRUE
2. FALSE
The fact that the ownership in the goods may have passed to the buyer would mean that
the seller has already fulfilled his duty to the buyer. *
1/1
1. TRUE
2. FALSE
If the thing sold is lost after perfection of the contract but before its delivery, the risk of loss
by fortuitous event without the seller’s fault is borne by the buyer. *
1/1
1. TRUE
2. FALSE
If the thing is lost by fortuitous event, the risk is borne always by the owner of the thing at
the time of the loss under the principle of res perit domino. *
1/1
1. TRUE
2. FALSE
Generally, the contracts entered into by a minor and other incapacitated persons are
voidable. *
1/1
1. TRUE
2. FALSE
The parties to the contract may agree when and on what conditions the ownership in the
subject of the contract shall pass to the buyer. *
1/1
1. TRUE
2. FALSE
An agreement may be entered into by the buyer and seller that the goods shall pass to the
buyer on delivery but that he may return said goods if they are unsatisfactory. *
0/1
1. TRUE
2. FALSE
Correct answer
TRUE
Where the thing is entirely lost at the time of perfection, the contract is inexistent and
void. *
1/1
1. TRUE
2. FALSE
Every person dealing in good faith and for valuable consideration with registered land may
safely rely upon what appears in the certificate of title and does not have to inquire
further. *
0/1
1. TRUE
2. FALSE
Correct answer
TRUE
Actual or manual delivery of an article sold is always essential to the passing of title
thereto. *
1/1
1. TRUE
2. FALSE
Traditio longa manu is a mode of legal delivery when the vendee has already the
possession of the thing sold by virtue of another title.*
1/1
1. TRUE
2. FALSE
Tradition is a derivative mode of acquiring ownership by virtue of which one who has the
right and intention to alienate a corporeal thing, transmits it by virtue of a just title to one
who accepts the same. *
1/1
1. TRUE
2. FALSE
The mere execution of the deed of sale in a public document is equivalent to the delivery of
the property, if from the deed the contrary does not appear or cannot clearly be inferred,
thus, prior physical delivery or possession is required.*
0/1
1. TRUE
2. FALSE
Correct answer
FALSE
A negotiable document of title is negotiable by delivery if the goods are deliverable to the
bearer, or when it is indorsed in blank. *
1/1
1. TRUE
2. FALSE
Traditio constitutum possessorium takes place when the vendor continues in possession of
the property sold not as owner but in some other capacity. *
1/1
1. TRUE
2. FALSE
Under the law, the seller must deliver the goods to the buyer. *
0/1
1. TRUE
2. FALSE
Correct answer
FALSE
A vendor who continued to effect sales and deliveries to the vendee even without promptly
getting paid is considered to have sold on credit. *
1/1
1. TRUE
2. FALSE
Where necessaries are sold and delivered to minor, the intervention of the parent or
guardian is required before he pay a reasonable price. *
0/1
1. TRUE
2. FALSE
Correct answer
FALSE
A non-negotiable document of title cannot be negotiated, and cannot also be transferred or
assigned by delivery.*
1/1
1. TRUE
2. FALSE
Delivery is not necessary to enable the vendee to enjoy and make use of the property
purchased.*
1/1
1. TRUE
2. FALSE
Husband and wife are prohibited from making donations to each other during the marriage
except moderate gifts on the occasion of any family rejoicing. *
1/1
1. TRUE
2. FALSE
Tradition can be made both with corporeal things and incorporeal things. *
1/1
1. TRUE
2. FALSE
Delivery of the thing together with the payment of the price, marks the consummation of
the contract of sale. *
1/1
1. TRUE
2. FALSE
Sale of real estate effected by minors who have already passed the ages of puberty and
adolescence and are now in the adult age, when they pretended to have already reached
their majority, while in fact they have not, is valid. *
1/1
1. TRUE
2. FALSE
The limits of the agent's authority shall not be considered exceeded should it have been
performed in a manner more advantageous to the principal than that specified by him.
*
1/1
True
False
In agency, there is fiduciary relationship between two persons because it is based on
utmost trust and confidence.
*
1/1
True
False
The general rule is that a guardian cannot purchase the property of a person under
guardianship. However, he may do so at a public auction when done through his agent.
*
1/1
True
False
The agent, if authorized to borrow money, he can be the lender, but generally he cannot be
the borrower if he is authorized to lend.
*
1/1
True
False
When two or more principals have granted a power of attorney for a common transaction,
any one of them may revoke the same without the consent of the others.
*
1/1
True
False
Every agent is bound to render an account of his transactions and to deliver to the principal
whatever he may have received by virtue of the agency, even though it may not be owning
to the principal.
*
1/1
True
False
Anything done by the agent, without knowledge of the death of the principal or of any other
cause which extinguishes the agency, is valid and shall be fully effective with respect to
third persons who may have contracted with him in good faith.
*
1/1
True
False
An agency cannot be revoked if a bilateral contract depends upon it, or if it is the means of
fulfilling an obligation already contracted, or if a partner is appointed manager of a
partnership in the, contract of partnership and his removal from the management is
unjustifiable.
*
1/1
True
False
If the agent is prohibited from appointing a sub-agent, any act executed by the latter is
unenforceable on the part of the principal.
*
0/1
True
False
Correct answer
False
If the agent dies, the heirs must notify the principal immediately, and must continue the
objective of the agency until it is accomplished or until the principal appoints a new agent.
*
1/1
True
False
To lease real property to another person, the authority of the agent must be in a special
power of attorney, if the lease is for one year.
*
0/1
True
False
Correct answer
False
The principal may revoke the agency at will, and compel the agent to return the document
evidencing the agency. Such revocation may be express or implied.
*
1/1
True
False
If the agent acted in the name of the principal, but without authority, the contract is
unenforceable subject to ratification.
*
0/1
True
False
Correct answer
True
The agent is responsible for the acts of his sub-agent, if he (agent) was not given the power
to appoint one and he is not also prohibited from appointing one.
*
1/1
True
False
FULL NAME (Last Name, First Name, MI)*
Cullanan, Roma Mae
To make customary gifts for charity, the authority of-the agent must be a special power of
attorney.
*
0/1
True
False
Correct answer
False
Personal properties that can be mortgaged under the Chattel Mortgage Law*
1/1
A. shares of stock
B. ungathered fruits or products
C. interest in business
D. all of the above
Pledge is a consensual contract which is perfected from the time the thing pledged is placed
in the possession of the creditor, or of a third person by common agreement.*
0/1
True
False
Correct answer
False
Real property mortgaged*
1/1
A. generally, is not possessed by the creditor.
B. cannot be acquired by the creditor, even if he is in possession for 30 years by prescription.
C. mortgagee cannot appropriate the property for himself, even if stipulated.
D. all of the above
Other:
A stipulation forbidding the owner from alienating the immovable mortgage is valid.*
1/1
True
False
A stipulation in a contract of mortgage stipulating an upset price, at which the property
may be sold is void.*
1/1
True
False
The subject matter of pledge and real mortgage is real property.*
0/1
True
False
Correct answer
False
The insurable interest of the mortgagor is the value of the property: while the mortgagee is
to the amount of the credit.*
1/1
True
False
Real mortgage*
1/1
A. may guarantee future debts.
B. objects is immovable property.
C. is a accessory contract
D. all of the above
D1 , D2 and D3 borrowed from C P300,000, and as a security, they mortgaged their
undivided agricultural land to C. Subsequently, D1 paid C P100,000. Is the mortgage on
D1's share of the land extinguished?*
1/1
A. Yes, because the obligation of D1 on the debt is only P100,000.
B. Yes, the obligation of the debtors is joint, D1 is answerable only for P 100,000.
C. No, because the obligation is solidary, payment in part shall not extinguish the obligation secured
by the mortgage.
D. No, because mortgages are considered indivisible, payment in part shall not extinguish the
mortgage.
FULL NAME (Last Name, First Name, MI)*
Cullanan, Roma Mae G.
A contract of pledge and real mortgage is both real contracts.*
0/1
True
False
Correct answer
False
A thing pledged*
0/1
A. even if stipulated, cannot be appropriated if debt is not paid.
B. is indivisible even among successors in interest.
C. may guarantee the debts of another person.
D. may secure all kinds of obligation, be they pure or subject to a suspensive or resolutory
condition.
E. all of the above
Correct answer
E. all of the above
In chattel mortgage, and in sale con pacto de retro, the title to the subject matter of the
contract is transferred to the other party.*
0/1
True
False
Correct answer
False
Pledge is the same as chattel mortgage because the subject matter in both contracts are
personal property.*
1/1
True
False
D borrowed from B P10,000. D offered his ring by way of pledge. It was expressly
stipulated that upon non-payment of the debt on time, the ring would belong to B. This
forfeiture clause, which has traditionally not been allowed, is called*
1/1
A. Pacto de retro
B. Pacto comisorio
C. Commodatum
D. Mutuum
E. None of the above
In real estate mortgage, the mortgagor can sell the mortgaged property*
1/1
A. With the consent of the mortgagee in writing
B. Even without the consent of the mortgagee
C. Only with the consent of the mortgagee in writing or orally
D. None of the above
The registration in the Chattel Mortgage Register is essential for the validity of a contract of
chattel mortgage.*
1/1
True
False
If subsequent to the perfection of the pledge, the thing pledged is in the possession of the
pledgor or owner, there is a prima facie presumption that the same has been returned by
the pledgee. extinguishing the contract of pledge.*
1/1
True
False
Real estate mortgage*
1/1
A. has for its object movables as well as immovables.
B. is perfected the moment the contract is registered with the Registry of Property.
C. is inseparable because the mortgage directly and immediately subjects the property upon which
it is imposed, whoever the possessor may be, to the fulfillment of the obligation for whose security
it was constituted.
D. entitles the mortgagee to the fruits of the thing mortgaged.
Effect of sale on the thing pledged if it is less than the principal obligation.*
1/1
A. Creditor cannot recover the deficiency.
B. Creditor can recover the deficiency.
C. Creditor cannot recover the deficiency even if there is stipulation.
D. Creditor can recover the deficiency if there is stipulation.
Registration in the Registry of Property is necessary for the validity of a real mortgage.*
0/1
True
False
Correct answer
False
Three of the following are considered elements of contract of pledge and mortgage, what is
the exception?*
1/1
A. Accessory contract
B. Pledgor or mortgagor must be the absolute owner.
C. Thing pledged may be appropriated if debtor cannot pay.
D. Pledgor or mortgagor must have a free disposal of the thing pledged.
If the immovable mortgaged is sold, and the amount realized is less than the mortgage debt,
the buyer of the mortgaged property is liable to pay the deficiency, if any.*
0/1
True
False
Correct answer
False
D pledged his ring to C for P 10,000. D failed to pay his obligation on time. C sold it at public
auction for P8,000.*
1/1
A. C can recover the deficiency even without stipulation.
B. C cannot recover the deficiency even if there is stipulation.
C. C cannot recover the deficiency.
D. C can recover the deficiency.
Any stipulation authorizing the pledgee to appropriate the thing pledged is void and
without effect.*
1/1
True
False