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RBBS Flashcards

1
Q

a financial institution engaged in lending of funds obtained from deposits.

A

Bank

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2
Q

Like any other corporation, it is a __________________________, and its right to carry-on banking
business is a franchise and privilege dependent on a grant of corporate powers by the State.

A

Creature of Statute

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3
Q

defines a bank or a banking institution as an entity duly authorized by the Monetary Board of the Bangko Sentral ng Pilipinas to engage in the lending of funds obtained from the public through the deposits of any kind.

A

General Banking Act

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4
Q

It is one of the major functions of a commercial bank.

A

Deposit Taking

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5
Q

are the lifeblood of a bank; they are
the bank’s chief sources of funds.

A

Deposits

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6
Q

True or False: Deposits are utilized for lending and investing purposes as to gain far more yields therefrom.

A

True

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7
Q

True or False: The larger the volume of deposits, the more business and profits generated.

A

True

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8
Q

Engaging in banking activities at facilities away from the home office

A

Branch Banking

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9
Q

Primary Role of a Branch

A
  1. Deposit Generation
  2. Customer Service Delivery
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10
Q

How is the the organization chart of the branch?

A

Branch Head
the following 2 reports to the branch head:
- Branch cashier
- Branch Operation Head

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11
Q

What’s the primary functions of the branch head?

A

Sales

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12
Q

What’s the primary function of the branch cashier?

A

Operations

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13
Q

What’s the function of the branch operations head?

A

Control

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14
Q

Itis technically a contract (agreement) between the Bank and the depositor.

A

Deposit Account

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15
Q

True or False: Specifically, a deposit account is a loan
contract which creates a debtor-creditor relationship between the Bank and the depositor.

A

True

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16
Q

What are the elements of a bank deposit?

A
  1. Object
  2. Consent
  3. Consideration
17
Q

What does the element object means in a bank deposit?

A

Object= Money

  1. Physical delivery
    - Within bank premises
    - During banking hours
    - To an authorized agent of the bank
  2. Actual Receipt by the bank
    - Cash Deposits
    - Check Deposits
18
Q

True or False: It is a minimum of 6 days per banking week.

A

False. 5 days.

19
Q

True or False: During banking hours not less than 8 hours per day.

A

False. 6 hours.

20
Q

True or False: The following are authorized agent of the bank in the delivery of the money for bank deposits.

A
  1. Tellers
  2. President
  3. Cashier/ Asst. Cashier
21
Q

Actual counting to determine the amount deposited and accepted by the bank.

A

Cash deposits

22
Q

Regarded as items for collection.

A

Check deposits

23
Q

The voluntary offer of a person to make a deposit and the bank to accept the deposit

A

Consent

24
Q

True or False: By signing the signature cards or conformity to the bank’s rules and regulations, the depositor does not necessarily manifests in writing his consent.

A

False. The depositor MANIFESTS his consent.

25
Q

True or False: The bank deposit is the privilege to use and dispose the amount deposited.

A

True

26
Q

allows minors, without interference and assistance from their parents or guardians, to open savings or time deposits provided such minors.

A

PD 734

27
Q

For ATM Savings Account, the depositor must be at least what age?

A

15 years old

28
Q

It is not a legal disability; hence an
illiterate person may open and maintain a deposit account in his own name, provided that client

A

Illiteracy

29
Q

of the civil code permits the use of
pen names or stage names in opening accounts.

A

Article 379

30
Q

True or False: Lending is the lifeblood of the bank

A

False. It is deposits

31
Q

True or False: Article 379 of the civil code permits the use of pen names or stage names in opening accounts.

A

True.

32
Q
A

CBC (7 decks)

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