Banking Institutions

Question 1

the banks of all banks in the Philippines, responsible for the regulation, creation, and management of monetary supply in the country

Answer 1

Bangko Sentral ng Pilipinas

Question 2

3types of banking institutions

Answer 2

commerical banks
thrift banks
rural banks

Question 3

accepts deposits, savings, check deposits and time deposits

Answer 3

commercial banks

Question 4

they consolidate the savings deposits of their members into a fund from which their members can draw loans with interest

Answer 4

thrift banks

Question 5

this bank caters primarily to farmers and small business people mostly in rural areas

Answer 5

rural banks

Question 6

an organization of people legally bound by a charter to conduct business

Answer 6

corporations

Question 7

written applications to the government requesting permission to form a corporation

Answer 7

articles of incorporation

Question 8

is a voluntary organization of people who have agreed to pool their resources together to undertake an economic enterprise to meet their everyday needs

Answer 8

cooperatives

Question 9

types of cooperatives

Answer 9

credit cooperatives
consumer cooperative
producer cooperative
marketing cooperative
service cooperative

Question 10

voluntary associations of either employees, employers or independent workers to protect their interest and become an instrument of defense against exploitation and maltreatment

Answer 10

trade unions

Question 11

types of trade unions

Answer 11

craft unions
general unions
industrial unions
professional unions