Chapter part 2

Question 1

under what authority does BSP issue currency

Answer 1

pursuant to SEC 50 RA 7653,the BSP shall have the sole power and authority to issue currency within the territory of the Philippines

Question 2

What does BSP issue

Answer 2

notes
coins
commemorative notes and coins

Question 3

It delivers new bsp banknotes and coins

Answer 3

security plant complex

Question 4

The annual volume or value of currency to be issued is projected by forecasting the currency demand for fresh notes and coins using

Answer 4

Linear regression forecasting method

Question 5

It oversees the forecasting model for currency demand to ensure that currency issue is consistent with monetary policy and adequate to meet the demand for notes and coins

Answer 5

Currency management committee

Question 6

Is there a limit to the amount of notes and coins that the bsp may issue

Answer 6

It shall not exceed the total assets of the bsp

Question 7

It is vested with police authority to investigate make arrest and conduct searches and seizures in accordance with the law during the course of anti-counterfeiting operations

Answer 7

The investigation division, cash department

Question 8

The bsp launch this giving higher financial rewards to persons who give information on counterfeiting activities leading to the arrest of suspects seizure or confiscation of counterfeit currencies and paraphernalia and the filing of appropriate charges in court to counterfeiters

Answer 8

Revised Reward System

Question 9

It conducts information campaigns on familiarization of genuine philippine acceptable foreign currencies counterfeit detection and bsp advocacies in the clean note policy

Answer 9

The Currency Analysis and Redemption Division, Cash Department

Question 10

In the coin design this is also a factor taken into consideration to boost coin acceptability

Answer 10

aesthetics

Question 11

It is the difference between the face value of the coin and the cause of minting

Answer 11

seigniorage

Question 12

Is the process of removing the monetary value of a legal tender currency through gradual process or operation of law

Answer 12

demonetization

Question 13

It means that when the currency is offered in payment of a debt, public or private, the same must be accepted

Answer 13

legal tender power

Question 14

Coins in denomination of 1, 5 and 10 peso shall be legal tender in amount not exceeding

Answer 14

1000

Question 15

Coins in denomination of 1, 5 and 25 sentimo shall be legal tender in amount not exceeding

Answer 15

100

Question 16

philippine coins

Answer 16

1 centimo
5
10
25
1 piso
5
10

Question 17

new generations of philippine coins

Answer 17

1 sentimo
5
25
1 piso
5
10
20

Question 18

who is in the 1 sentimo before

Answer 18

lapu lapu

Question 19

who is in the 5 sentimo before

Answer 19

melchora aquino

Question 20

who is in the 10 sentimo before

Answer 20

francisco baltazar

Question 21

who is in the 25 sentimo before

Answer 21

juan luna

Question 22

who is in the piso

Answer 22

jose rizal

Question 23

who is in the 5 piso

Answer 23

emilio aguinaldo

Question 24

who are in the 10 piso

Answer 24

apolinario mabini
andres bonifacio

Question 25

who is in the 20 piso

Answer 25

manuel quezon

Question 26

what are in the back of 1 sentimo to 20 piso

Answer 26

mangkono kapal kapal baging katmon waling waling tayabak kapa kapa nilad

Question 27

if it is considered.. for circulation shall not be recirculated but may be presented for exchange to or deposited with any bank

Answer 27

unfit

Question 28

if it is.. shall not ve recirculated nor deposited/exchanged, but may be presented or forwarded for determination of their redemption value to the cash department or the nearest bangko sentral regional office or branch

Answer 28

mutilated

Question 29

bsp issues this to primarily as an educational tool to familiarize cash handlers of different centrak banks

Answer 29

specimen notes