COOPERATIVES

Question 1

Minimum number of natural persons required to organize a primary cooperative

Answer 1

15 persons

Question 2

What seminar must be completed by a prospective member of a primary cooperative?

Answer 2

Pre-Membership Education Seminar

Question 3

A single-purpose cooperative may transform into a multi-purpose cooperative and may create subsidiaries only after at least ________ of operation

Answer 3

2 years

Question 4

A cooperative may register for a term not exceeding how many years?

Answer 4

50 years

Question 5

A cooperative may apply fr extension of term but such extension cannot be made earlier than ____ years prior to the original or subsequent expiry date/s

Answer 5

5

Question 6

The minimum subscription of the authorized capital stock of a cooperative is?

Answer 6

25% of the ACS

Question 7

The minimum paid-up share capital of a cooperative shall be 25% of the total subscription but not less than:

Answer 7

15,000

Question 8

CDA shall periodaically assess the required paid-up share capital and may increase every ____ years

Answer 8

5

Question 9

All applications for registration shall be finally disposed by the CDA within a period of _____ days from the filing therof, otherwise the application is deemed approved

Answer 9

60

Question 10

A certificate of registration issued by the CDA under its official seal shall be __________ evidence that the cooperative therein mentioned is duly registred

Answer 10

Conclusive

Question 11

The articles of cooperation and by laws of the cooperative may be amended by ____ vote of all members with voting rights

Answer 11

2/3

Question 12

Any registered cooperative may resolve to divide itself into 2 or more cooperatives by a resolution approved by a vote of ____ of all members with voting rights

Answer 12

3/4

Question 12

Any registered cooperative may resolve to merge or consolidate with another cooperative by a resolution approved by a vote of ____ of all members with voting rights

Answer 12

3/4

Question 13

Any merger or consolidation of cooperatives shall be effective upon:

Answer 13

The issuance of the certificate of merger and consolidation by the CDA

Question 14

It is a cooperative that promotes and undertakes savings and lending services among its members

Answer 14

Credit

Question 15

It is a cooperative in which the primary purpose is to procure and distribute commodities to members and non-members

Answer 15

Consumers

Question 16

It is a cooperative that undertakes joint procedures whether agricultural or industrial

Answer 16

Producers

Question 17

It is a cooperative which is engaged in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication, professional and other services.

Answer 17

Service

Question 18

It is a cooperative which combines 2 or more of the business activities of the different types of cooperatives

Answer 18

Multipurpose

Question 19

It is a cooperative which promotes and advocates cooperativism

Answer 19

Advocacy

Question 20

It is a cooperative which is organized by marginal farmers majority of which are agrarian reform beneficiaries

Answer 20

Agrarian Reform

Question 21

It is cooperative which is organized for the primary purpose of providing a wide range of financial services to cooperatives and their members

Answer 21

Cooperative Bank

Question 22

It is a cooperative whose members are engaged in the production of fresh milk which may be processed and/or marketed as dairy products

Answer 22

Dairy

Question 23

It is a cooperative organized for the primary purpose of owning and operating licensed educational institutions

Answer 23

Education

Question 24

It is a cooperative which is organized for the primary purpose of undertaking power generations, utilizing renewable energy sources, including hybrid systems, acquisition and operation of subtransmission or distribution to its household members

Answer 24

Electric

Question 25

It is a cooperative which is organized for the primary purpose of engaging in savings and credit services and other financial services

Answer 25

Financial Services

Question 26

It is a cooperative which is organized to own, operate and manage water systems for the provision and distribution of portable water for its members and their households

Answer 26

Water Service

Question 27

A Housing Cooperative is ____ by its members

Answer 27

Co-owned and controlled

Question 28

A cooperative in which the members are natural persons

Answer 28

Primary

Question 29

2 kinds of membership in a cooperative

Answer 29

Regular and Associate

Question 30

An associate who meets the minimum requirements of regular membership continues to patronize the cooperative for ____ years, and signifies his/her intention to remain a member shall be considered a regular member

Answer 30

2

Question 31

A cooperative organized by minors shall be considered a _____ cooperative

Answer 31

Laboratory

Question 32

3 Exclusive Powers of General Assembly which CANNOT be delegated

Answer 32

1. To determine and approve amendments to the articles of cooperation 2. To elect or appoint the members of the board of directors and remove them for a cause 3. To approve developmental plans of the cooperative

Question 33

Only for the purposes of prompt and intelligent decision making, the GA may by a ______ vote of all its members with voting rights, delegate some of its powers to a smaller body of the cooperative

Answer 33

3/4

Question 34

If not so fixed, the annual meeting of the GA must be held within how many days after the close of fiscal year?

Answer 34

90 days

Question 35

Notice in writing for a special meeting of the GA must be sent ______ prior to the meeting to all members entitled to vote

Answer 35

One week

Question 36

Quorum in cooperative banks

Answer 36

1/2 plus 1

Question 37

Quorum in cooperative banks in which to amend the Articles and the By laws

Answer 37

3/4

Question 38

Quorum in Electric Cooperatives

Answer 38

5% of all members entitled to vote, unless the by laws provides otherwise

Question 39

Quorum in Cooperatives (In General)

Answer 39

at least 25 % of all the members entitled to vote

Question 40

Cooperatives BOD Composition

Answer 40

not less than 5 but not more than 15 elected by the GA

Question 41

Terms of Cooperatives BOD

Answer 41

2 years