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RFBT > A Must Answer MCQs > Flashcards

A Must Answer MCQs Flashcards

1
Q

Cooperatives:
What is the

  1. Minimum Subscription?
  2. Minimum paid-up capital?
A

25%

25% of 25% or 15k which ever is higher

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2
Q

Coop

The amount that ca be distributed from Optional Fund is how many percentage?

A

7%

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3
Q

Corpo
T or F

  1. A director representing the majority can be removed oy if there is valod cause
  2. A director representing the minority can be removed only if there is a valid cause
A

F
T

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4
Q

Payment will void if the incapacity pertains to?

Debtor, creditor or both?

A

Debtor only

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5
Q

Corpo

The existense of a CORPORATION SOLE begins from?

A

Filing of the verified articles of incorporation

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6
Q

Which of the ff are now required tp be a resident of the PH?

Treas
Pres
Compliance Officer
Auditor

A

Treas

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7
Q

There is no watering of stocks in no par value

A

Oks

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8
Q

Corpo

Where is the meeting for:

  1. BOD
  2. Stockholders
A
  1. Anywhere in the universe
  2. Principal office, of if not possible, within municipality or city where the office is located
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9
Q

The number of stockholder for this type of Corporation shall not exceed 20

A

Close Corporation

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10
Q

Corpo

The following are considered Insiders

A

Director
Secretal
External Auditor

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11
Q

Deceptive Sales Act - Fraud

Unconscionable Sales Act - No Fraud

A
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12
Q

Home solicitation sales, when permitted, may be conducted between____ on each working day

A

9AM to 7PM

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13
Q

Express warranties on consumer products shall be operative from the?

A

Moment of sale

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14
Q

Under Gov Procurement Act, atleast how many pre bid conference shall be conducted for each procurement?

A

One

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15
Q

Negotiated procument may be restored to after howmany failed biddings?

A

Two

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16
Q

Direct Contracting is aka?

A

Selected

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17
Q

Under FRIA Suspension of payments applies only to?

A

Individual Debtors

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18
Q

FRIA
For Liquidation, whether voluntary or Involuntary, to be proper, the debts should be atleast?

A

50pk

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19
Q

The approval of the rehabilitation plan will require___ of the claims creditor

A

50%

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20
Q

FRIA
If no rehab plan is confirmed within period of ____, the court can convert to liquidation

A

1 year

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21
Q

Insurance
Risk Distributing Device

A

Distribite the risk of loss among as amny as possible to those who are subject to same kind of risk

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22
Q

Truth in Lending
Actions to recover the penalties under TIA may be brought within____ from the date of the violence occurence

A

1 year

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23
Q

When employee is permitted to work on his rest day, he shall be addtional compensation of atleast?

A

30% of his regular

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24
Q

An employee who has rendered at least one year of service shall be entitled to a yearly SIL of ___ days with pay

A

5

25
Q

Under SSS law, the minimum pension of members with 10 credited years pf service shall be

A

1200

26
Q

All retirement, death, and disability pensioners receiving monthly pensions in or after Jan 2017, shall receive an additional monthly benefit allowance amounting to?

A

1000

27
Q

FRIA

Penalty in case failure to disclose any info in violation of TIA

A

100 or twice amount of Finance Charged/max 2000 which ever is higher

28
Q

Delay will not exist from obligation?

A

Not to do
Negative Obligation

29
Q

Who is the injured party by assumption?

A

Creditor

30
Q

3 Obligation as to Plurality:

  1. Conjuctive
  2. Alternative
  3. Facultative. Who has right?

Explain

A
  1. Conjuctive - AND
  2. Alternative - OR
  3. Facultative - one prestation has been agreed upon but the obligor may render another Substitution. Right to substitute always belong to debtor
31
Q

When is demand necessary fpr debtor’s delay to exist?

A

When the obligation is unilateral one

32
Q

In case of doubt, in incidental circumstances of contract of commodatum, it shall be interpreted in favor of?

A

LEAST transmission of rights

33
Q

An agreement of the leasing for a term.more than 1 year shoud b3 i writing, otherwise, Unenforcable

Sale of Land by agent with authority but not in writing, VOID

A
34
Q

Pledge
Please provide 3 void stipulations

A
  1. Pledge not extinguished by the return of the thing pledged
  2. Automatic appropriation
  3. Recovery of deficiency in case proceeds from sale pf thing pledge is insufficient
35
Q

Which of the following are liable to the extent of separate asset?

Industrial Partner
Limited Partner

A

Industrial Only

36
Q

Partnership is as to number of patners NOT as to amount of Capital

A

Oks

37
Q

Define Quasi Partner

A

No longer partner of the business but has left his capital in the business as loan, thereby, receiving interest from such loan

38
Q

This partnership is created even without express agreement among partners

A

Partnership Prescription

39
Q

Which of the ff is necessecary power of corporation

Power to
Declare and distribite dividends
Enter into a merger or consolidation
To sue
Issue Checks

A

Issue checks

40
Q

De Jure and De Facto has Juridical Personality. Which one does not have?

A

Ostinsible Corporation
seeming or said to be true or real but very possibly not true or real.

41
Q

Which of the ff shares are allowed as NoPar Vale shares?

Common shares
Preferred shares

A

Common only

42
Q

Trust Companies - Not allowed to issue NO Par value shares

A

K

43
Q

What is the minimum ownership of Filipinos Educational Institution?

A

60%

44
Q

Right of first refusal

A

Contractual right of incumbent shareholders

45
Q

What type of dividends is Tresury shares declared as dividends?

A

Property Dividends

46
Q

Sibscribers allowed to:
Dividends
Vote
Inspect corporate books

What if deliquent already?

A

Still allowed to dividends only

47
Q

Which of the ff is valid consoderation of issuance of shares?

Future Services
Promissory Notes

A

Neither from the two!

48
Q

When shall public sale of delinquent stocks be held counted from the date of deliquency?

A

Not less than 30 days but not more than 60 days

49
Q

It refers to a private corporation created for charitable purposes

A

Eleemosynary

50
Q

What is the term of office of BOD of a stock corporaton?

A

1 year only

51
Q

What is the nimber of cooperators pr founders of Primary Cooperative?

A

15 or more natural persons

52
Q

What is the Max foreign investment or ownership in a cooperative?

A

O%

53
Q

Cooperative
Define as to power and responsibility

  1. General Assembly
  2. Board pr directors
A
  1. Excerise power stated on Coop Code, Article of Coop, ByLaws
  2. Responsible for strategic planning, direction setting, policy formulation
54
Q

What type of invesment maybe examined by AMLC even without consent of impeachable officer?

PH Deposit
Foreign Currency Deposit

A

PH Deposit only

55
Q

Duration of right of the ff:

  1. Copyright: Capi
  2. Patent: Patwo
  3. Trademark: T=?
A
  1. Pipti
  2. Patwo 20 years
  3. T = Ten years
56
Q

Type pf right provided to Copyright?

A

Moral right. NOT intellectual right

57
Q

What Law shall cover Dacion en Pago?

A

Law on Sales

58
Q

Legal life or duration of right of the following:

  1. Capiright
  2. Patent
  3. Trademark
A
  1. Pipti
  2. Patwo 20 years
  3. T=Ten years

RFBT (37 decks)

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