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Pdic 20 Questions

1. The document contains 20 multiple choice questions about the Philippine Deposit Insurance Corporation (PDIC). 2. The questions cover topics such as what deposits are insured by PDIC, maximum insurance coverage amounts, types of accounts covered, entities covered, and exclusions from coverage. 3. Key details tested include that deposits in different banks are added for insurance purposes, while deposits in different branches of the same bank are insured separately. Individuals can receive up to 500,000 PHP total coverage across single and joint accounts.

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jeams vidal
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7K views

Pdic 20 Questions

1. The document contains 20 multiple choice questions about the Philippine Deposit Insurance Corporation (PDIC). 2. The questions cover topics such as what deposits are insured by PDIC, maximum insurance coverage amounts, types of accounts covered, entities covered, and exclusions from coverage. 3. Key details tested include that deposits in different banks are added for insurance purposes, while deposits in different branches of the same bank are insured separately. Individuals can receive up to 500,000 PHP total coverage across single and joint accounts.

Uploaded by

jeams vidal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PDIC 20 QUESTIONS

1. Statement 1: Deposits in different banks are added together for the purpose of the P500,000
maximum.
Statement 2: Deposits in different branches of the same bank are insured separately.
A. Both statements are false
B. Both statements are true
C. Only statement 1 is correct
D. Only statement 2 is correct
A.

2. Statement 1: The PDIC is an attached agency of the Department of Finance.

Statement 2: A depositor with single accounts and joint accounts may have insured
deposits of up to Php 1,000,000.
A. Both statements are false
B. Both statements are true
C. Only statement 1 is correct
D. Only statement 2 is correct
B.
3. What is the amount of insured deposit?

A. Minimum of P500,000, gross


B. Maximum of P500,000, gross
C. Maximum of P500,000, net
D. Minimum of P500,000 net
C

4. Juan dela Cruz has the following deposits in Bank 1:


– Individual account in his name: P600,000 savings deposit
– Joint account in his name and Maria dela Cruz: P500,000 time deposit
– Joint account in his name or Pedro dela Cruz: P800,000 demand deposit
What is the total insured deposit of Juan dela Cruz?
A. P500,000
B. P750,000
C. P1,000,000
D. P1,250,000
C

5. What is the total insured deposit of Maria dela Cruz?

A. Zero
B. P250,000
C. P500,000
D. None of the choices

B
6. What is the total insured deposit of Pedro dela Cruz?
A. Zero
B. P250,000
C. P400,000
D. P500,000
B
7. The following are not covered by PDIC deposit insurance except:
I. Investment products
II. Deposit accounts which are unfunded, fictitious or fraudulent
III. Deposit products emanating from unsafe and unsound banking practices
IV. Deposit that are determined to be proceeds of an unlawful activity

A. I only
B. III only
C. II and III
D. None of the above
D
8. The following are covered by PDIC deposit insurance except:
I. Savings
II. Single accounts
III. Investments products
IV. Time deposits
A. I
B. III
C. I and II
D. All of the above
B

9. Statement 1. Depositor Protection is to strengthen the mandatory deposit insurance


coverage system and to protect it from illegal schemes and machinations.

Statement 2. Financial stability is to promote and safeguard the interest of the depositing
public by way of providing permanent and continuing insurance coverage on all insurance
deposits.

A. Both statements are true


B. Both statements are false
C. Only statement 1 is correct
D. Only statement 2 is correct
B

10. Statement 1: Joint accounts held in the names of a juridical entity and a natural person shall
be presumed to belong solely to the natural person.

Statement 2: A deposit insurance is essentially the assured amount a bank depositor gets
in the case that the bank can fulfill its obligation.

A. Both statements are true.


B. Both statements are false
C. Only statement 1 is correct
D. Only statement 2 is correct
B

11. Statement 1: PDIC is a government instrumentality created in 1963 by virtue of RA 3591.

Statement 2: Deposit products constituting or emanating from unsafe and unsound


banking practices is excluded from PDIC deposit insurance.

A. Both statements are false


B. Both statements are true
C. Only statement 1 is correct
D. Only statement 2 is correct
B

12. The latest amendments to RA 3591 are contained in RA 10846 signed into law on
_____________.

A. May 23, 2017


B. May 23, 2016
C. April 23, 2016
D. April 23, 2017
B

13. The following are the depositors Type, Except :


A. Savings
B. Special savings
C. Demand/Checking
D. Depositors protection
D
14. It is an individually-owned accounts or accounts held under one name, either as natural
person or judicial entity.
A. Single accounts
B. Natural person
C. Judicial entity
D. Account "By" , "in trust for"
A

15. The following are excluded from PDIC deposit insurance, whether they are dominated,
documented, recorded or booked as deposit by the bank, Except:
A. Investment products such as bonds, securities and trust accounts.
B. Deposit accounts which are unfunded, fictitious or fraudulent
C. Foreign currencies considered as part of BSP's International reserves
D. Deposit products constituting or emanating from unsafe and unsound banking
practices.
C
16. Deposits in which of the following banks are insured by the PDIC?
I. Commercial banks
II. Savings and mortgage banks
III. Domestic branches of foreign banks
IV. Cooperative banks
V. Savings and loan associations
A. All except IV
B. All except V
C. All except IV and V
D. All banks enumerated above
D
17. It is a government instrumentality created in 1963 by virtue of Republic Act 3591 to
insure the deposits of all banks which are entitled to the benefits of insurance

A. MDIC
B. ITF
C. PDIC
D. FAO
C.

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