1. This is know as the New Central Bank Act.

a. RA 7653

b. RA 7753.

c. RA 9520.

d. RA 10142.

2. The following are mandated responsibilities of the BSP, except?

a. Savings

b. Money.

c. Banking.

d. Credit.

3. The capital of the Bangko Sentral shall be?

a. Fifty billion pesos

b. Sixty billion pesos.

c. One million pesos.

d. One zillion pesos.

4. Who shall provide policy directions in the areas of money, banking, and credit?

a. Government.

b. Public entity.

c. Private entity.

d. Bangko Sentral

5. What is the primary objective of the Bangko Sentral?

a. Promote and maintain monetary stability and the convertibility of the peso.

b. Provide policy directions in the areas of money, banking, and credit.

c. Shall have supervision over the operations of banks and exercise such regulatory powers.

d. To maintain price stability conducive to a balanced and sustainable growth of the economy

6. Where is the principal place of BSP?

a. Makati.

b. Metro Manila
c. Baguio City.

d. Minadanao.

7. The following are corporate powers of BSP, except?

a. Adopt, alter, and use a corporate seal which shall be judicially noticed.

b. To enter into contracts.

c. To sue and not be sued

d. To lease or own real and personal property.

8. The following are corporate powers of BSP, except?

a. Acquire assets and not incur liabilities

b. To sell or otherwise dispose of the same.

c. To sue and be sued.

d. To do and perform any and all things that may be necessary or proper to carry out the purposes of this
Act.

9. Who protects the interests of the Bangko Sentral?

a. Monetary Board

b. BSP.

c. Government.

d. Any of the above.

10. How many members compose the Monetary Board?

a. 6

b. 7

c. 8

d. 9

11. Who appoints the members of the Monetary Board?

a. President

b. Vice-President.

c. Secretary.

d. Senate President.
12. Who shall be the Chairman of the Monetary Board?

a. Governor of the Bangko Sentral

b. Member of the Cabinet.

c. Board members.

d. Any of them.

13. Whenever the designated Cabinet Member is unable to attend a meeting of the Board, who shall he
designate in his Department to attend as his alternate?

a. Undersecretary

b. Co-member.

c. Governor.

d. Proxy.

14. How many members of the Monetary shall come from private sector?

a. 2

b. 3

c. 4

d. 5

15. These members from private sector shall serve?

a. Part-time

b. Night shift

c. Day shift

d. Full-time

16. First three members shall have a term of atleast?

a. 5 yrs

b. 6 yrs

c. 7 yrs

d. 8 yrs

17. No member of the Monetary Board may be reappointed more than once.

a. False
b. Not true

c. True

d. It depends

18. The following are reasons for vacancy in the Monetary Board, except?

a. Vacation Leave

b. Death.

c. Resignation.

d. Removal of any member.

19. The following are qualifications of the Monetary Board, except?

a. At least be forty (40) years of age

b. At least be forty (35) years of age.

c. Natural-born citizens of the Philippines.

d. Unquestionable integrity.

20. The following are qualifications of the Monetary Board, except?

a. Of good moral character.

b. Shall hold any public office

c. Of known probity and patriotism.

d. With recognized competence in social and economic disciplines.

21. What is the required age of Governor of Monetary Board?

a. 40

b. 35

c. 30

d. 25

22. The following are disqualifications of the member of the Monetary Board, except?

a. From private sector

b. Director.

c. Officer.

d. Employee.
23. The President may remove any member of the Monetary Board for any of the following reasons,
except?

a. If the member is subsequently disqualified under the provisions of Section 18 of this Act

b. If he is physically or mentally incapacitated that he cannot properly discharge his duties and
responsibilities and such incapacity has lasted for more than six (6) months.

c. If the member is guilty of acts or operations which are of fraudulent.

d. If the member no longer possesses the qualifications specified in Section 8 of this Act.

24. How many time does the Monetary Board meet?

a. Monthly

b. Annually

c. Twice a year

d. Once a week

25. Who calls the meeting of the Board?

a. Governor.

b. 2 board members.

c. Cabinet member.

d. a & b

26. What constitutes a quorum?

a. 3 members

b. 4 members

c. 5 members

d. 6 members

27. Unless otherwise provided in this Act, all decisions of the Monetary Board shall require the
concurrence of at least how many members?

a. 2

b. 3

c. 4

d. 5
28. Who shall maintain and preserve a complete record of the proceedings and deliberations of the
Monetary Board?

a. BSP

b. Governor.

c. Cabinet members.

d. Board members.

29. Complete record of the proceedings includes the following, except?

a. Notes

b. Tapes.

c. Transcripts of the stenographic notes.

d. Microfilm of tapes and transcripts.

30. Who is the chief executive officer of the Bangko Sentral?

a. President.

b. Governor

c. Cabinet member.

d. Deputy Governor.

31. The following are the powers and duties of the Governor, except?

a. Does not prepare the agenda for the meetings of the Monetary Board

b. Execute and administer the policies and measures approved by the Monetary Board.

c. Direct and supervise the operations and internal administration of the Bangko Sentral.

d. Exercise such other powers as may be vested in him by the Monetary Board.

32. Who is the the principal representative of the Monetary Board and of the Bangko Sentral?

a. Governor

b. Member.

c. Cabinet member.

d. Board member.

33. Who appoints not more than three (3) Deputy Governors who shall perform duties as may be
assigned to them by the Governor and the Board?
a. Governor

b. Member.

c. Cabinet member.

d. Board member.

34. Personnel of the Bangko Sentral are hereby prohibited from?

a. Being an officer, director, lawyer or agent, employee, consultant or stockholder.

b. Directly or indirectly requesting or receiving any gift, present or pecuniary or material benefit for
himself.

c. Revealing in any manner, except under orders of the court.

d. a, b & c

35. Who revoke the actions of the previous management and board of directors of the bank or quasi-
bank?

a. Deputy.

b. Cabinet member.

c. Governor.

d. Conservator

36. Who shall terminate the conservatorship when it is satisfied that the institution can continue to
operate on its own?

a. Governor.

b. Monetary Board

c. Cabinet member.

d. Deputy.

37. For a quasi-bank, any person of recognized competence in banking or finance may be designed as?

a. Conservator.

b. Governor.

c. Receiver

d. Banker.

38. The unit of monetary value in the Philippines is?

a. Peso
b. Yen

c. Dollars

d. Cents

39. The unit of monetary value in the Philippines is represented by?

a. P

b. ¥

c. $

d. ¢

40. It means all those liabilities of the Bangko Sentral are subject to payment in legal tender upon
demand by the presentation of checks.

a. Deposit.

b. Demand deposit

c. Demand.

d. Cash deposit.

41. In order to maintain the international stability and convertibility of the Philippine peso, the Bangko
Sentral shall maintain?

a. International reserves

b. Intentional reserves.

c. Reserve fund.

d. Monetary bank.

42. What is/are the composition of international reserve?

a. Gold

b. Assets in foreign currencies

c. Demand and time deposits in central banks

d. All of the above.

43. What are the actions when the international stability of the peso is threatened, except?

a. Submit to the Governor the nature and causes of the existing or imminent decline

b. Take such remedial measures .

d. Submit the remedial measures already taken or to be taken by the Monetary Board.

44. The Bangko Sentral may engage in foreign exchange transactions with the following, except?

a. Banking institutions operating in the Philippines.

b. The Government, its political subdivisions and instrumentalities.

c. Foreign or international financial institutions.

d. Local governments and their instrumentalities

46. Who shall determine the exchange rate policy of the country?

a. Governor.

b. Monetary Board

c. BSP.

d. Cabinet Members.

47. Who may authorize the Bangko Sentral to grant loans to and receive loans from foreign banks?

a. Governor.

b. Cabinet Members.

c. Monetary Board

d. BSP.

48. The following are authorized types of operations of the Bangko Sentral, except?

a. Storing or perishable goods

b. Commercial credits.

c. Production credits.

d. Othe credits.

49. Who shall act as a banker of the Government?

a. Bangko Sentral

b. Monetary Board.

c. Banker.

d. Cabinet members.
50. All references to the Central Bank of the Philippines in any law or special charters shall be deemed to
refer to the Bangko Sentral.

a. False

b. True

c. Not true

d. Depends

ANSWERS:

1. A

2. A

3. A

4. D

5. D

6. B

7. C

8. A

9. A

10. B

11. A

12. A

13. A

14. D

15. D

16. B

17. C

18. A

19. A

20. B
21. A

22. A

23. A

24. D

25. D

26. B

27. C

28. A

29. A

30. B

31. A

32. A

33. A

34. D

35. D

36. B

37. C

38. A

39. A

40. B

41. A

42. A

43. A

44. D

45. D

46. B

47. C

48. A
49. A

50. B