Group 1-5's Quzbowl

Question 1

What is the term for the illegal production of currency with the intent to deceive?

Answer 1

● Answer: Counterfeiting

Question 2

Which device is commonly used to detect counterfeit currency by exposing UV-reactive security features?

Answer 2

● Answer: UV Light Detector

Question 3

Name the thin metallic strip embedded in paper currency to deter counterfeiting.

Answer 3

● Answer: Security Thread

Question 4

What is the name of the hidden image visible when a bill is held up to light, often used as a security feature?

Answer 4

● Answer: Watermark

Question 5

Which polymer-based feature is often used in newer banknotes to replace paper and make counterfeiting more difficult?

Answer 5

● Answer: Transparent Windows

Question 6

What is the name of the 3D holographic feature that appears on some modern banknotes to prevent counterfeiting?

Answer 6

● Answer: Hologram

Question 7

What is the name of the central authority responsible for issuing currency and combating counterfeiting in the Philippines?

Answer 7

● Answer: Bangko Sentral ng Pilipinas (BSP)

Question 8

What color-shifting feature is found in the Philippine 500 and 1,000 peso bills?

Answer 8

● Answer: Optically Variable Ink (OVI)

Question 9

Which Philippine law penalizes the production and use of counterfeit currency?

Answer 9

● Answer: Republic Act No. 10951

Question 10

What security feature involves micro-sized text that is difficult to replicate and is present on Philippine banknotes?

Answer 10

● Answer: Microprinting

Question 11

1. Levels of Inflation:

Answer 11

• Creeping, chronic, walking, running, galloping, hyperinflation, stagflation

Question 12

2. Countries that have experienced Hyperinflation:

Answer 12

• Venezuela, Hungary, Syria, Poland, etc

Question 13

3. Give one commodity:

Answer 13

• Rice, oil, meat, corn

Question 14

4. Key objectives of monetary policy:

Answer 14

• Full employment, price stability, economic growth

Question 15

5. standard tools to implement monetary policy:

Answer 15

• Interest rate, open market operations, bank reserve requirements

Question 16

6. Inflation target:

Answer 16

2-4%

Question 17

7. What monetary policy perceives the inflation forecast to exceed the target?

Answer 17

• Contractionary monetary policy

Question 18

8. This happens when inflation and unemployment has a positive relationship with each other.

Answer 18

• Stagflation

Question 19

9. It measures or actions taken by the central bank to regulate money supplying in the economy.

Answer 19

• Monetary policy

Question 20

10. Causes of inflation:

Answer 20

• Demand pull inflation and cost push inflation

Question 21

The Governor shall be the _____ of the Bangko Sentral.
a. Chief executive officer
b. President
c. Leader
d. Member

Answer 21

a. Chief executive officer

Question 22

The members of the Monetary Board must be natural-born citizens of the Philippines, at least _____ years of age.
a. thirty (30)
b. thirty-five (35)
c. forty (40)
d. forty-five (45)

Answer 22

b. thirty-five (35)

Question 23

What are the three core functions of BSP?

Answer 23

1. Price Stability
2. Financial Stability or Stable Banking System
3. Efficient Payments and Settlement System

Question 24

In the absence of the Governor, a ____ designated by the Governor shall act as chief executive of the Bangko Sentral and shall exercise the powers and perform the duties of the Governor.

a. Board Member
b. Secretary
c. Deputy Governor
d. Vice Governor

Answer 24

c. Deputy Governor

Question 25

What are the core values of BSP?

Answer 25

1. Excellence 2. Patriotism 3. Integrity 4. Solidarity 5. Accountability

Question 26

These represent the strong will, resolve, and monetary and financial tools that the central bank uses in discharging its mandates. a. outstretched wings and tail feathers b. three golden stars c. head and eyes face east d. talons

Answer 26

d. talons

Question 27

These represent the pillars of central banking, as well as the BSP's commitment to promote and sustain a high quality of life for all Filipinos. a. three golden stars b. corporate text c. talons d. outstretched wings and tail feathers

Answer 27

a. three golden stars

Question 28

When was the Central Bank of the Philippines changed into Bangko Sentral ng Pilipinas? a. January 3, 1949 b. July 13, 1993 c. July 3, 1993 d. January 3, 1993

Answer 28

c. July 3, 1993

Question 29

Who is responsible for carrying out the duties and functions of the Bangko Sentral ng Pilipinas (BSP)? a. Governor b. Monetary Board c. Deputy Governor d. President of the Philippines

Answer 29

b. Monetary Board

Question 30

Identify the names of the BSP members

Answer 30

1. Ralph G. Recto 2. Benjamin E. Diokno 3. Walter C. Wassmer 4. Rosalia V. De Leon 5. Jose L. Querubin 6. Romeo L. Bernardo 7. Eli M. Remolona, Jr.

Question 31

1. *USA (USD)*: 1 USD

Answer 31

≈ 56.80 PHP.

Question 32

2. *Singapore (SGD)*: 1 SGD

Answer 32

≈ 41.50 PHP.

Question 33

3. *Japan (JPY)*: 1 JPY

Answer 33

≈ 0.38 PHP.

Question 34

4. *China (CNY)*: 1 CNY

Answer 34

≈ 7.70 PHP.

Question 35

5. *Europe (EUR)*: 1 EUR

Answer 35

≈ 61.40 PHP.

Question 36

6. *Russia (RUB)*: 1 RUB

Answer 36

≈ 0.55 PHP.

Question 37

7. *Cambodia (KHR)*: 1 KHR

Answer 37

≈ 0.013 PHP.

Question 38

8. *Mexico (MXN)*: 1 MXN

Answer 38

≈ 3.20 PHP.

Question 39

9. *Brazil (BRL)*: 1 BRL

Answer 39

≈ 11.40 PHP.

Question 40

10. *Australia (AUD)*: 1 AUD

Answer 40

≈ 36.90 PHP.