Académique Documents
Professionnel Documents
Culture Documents
Question 2
What is the amount of insured deposit?
A. Minimum of P500,000, gross
B. Maximum of P500,000, gross
C. Maximum of P500,000, net
D. Minimum of P500,000 net
Answer: C. The insured deposit is net of any obligation of the depositor to the insured bank as of the date
of closure, but not to exceed P500,000.
Question 3
True/False. Joint accounts shall be insured separately from any individually-owned deposit account.
Answer: True.
Question 4
What is the total insured deposit of Juan dela Cruz?
A. P500,000
B. P750,000
C. P1,000,000
D. P1,250,000
Answer: C. For the single/individual account = P500,000; for the AND joint account = P250,000 (P500,000
maximum/2); for the OR joint account = P250,000 (P500,000 maximum/2)
Question 5
What is the total uninsured deposit of Juan dela Cruz?
A. P100,000
B. P250,000
C. P500,000
D. P600,000
Answer: B. For the single account = excess of P100,000; for the AND joint account = no excess; for the
OR joint account = excess of P150,000 (P300,000/2)
Question 6
What is the total insured deposit of Maria dela Cruz?
A. Zero
B. P250,000
C. P500,000
D. None of the choices
Answer: B. P500,000/2
Question 7
What is the total insured deposit of Pedro dela Cruz?
A. Zero
B. P250,000
C. P400,000
D. P500,000
Question 8
What is the total uninsured deposit of Pedro dela Cruz?
A. Zero
B. P100,000
C. P150,000
D. P250,000
Question 9
What is the total of insured deposit of Juan dela Cruz?
A. P500,000
B. P1,000,000
C. P1,150,000
D. None of the choices
Answer: B. The joint accounts will be insured separately from the individual account. However, the share
of Juan dela Cruz in the joint accounts shall not exceed P500,000 total (which has been reached already
in Case 1 Question 4). This means that the additional P150,000 share (P450,000/3) will become
uninsured deposit.
Question 10
What is the total of insured deposit of Pedro dela Cruz?
A. P250,000
B. P400,000
C. P500,000
D. P600,000
Answer: D. Share in joint OR account = P250,000 (maximum of P500,000/2); share in 3-way joint OR
account = P150,000 (P450,000/3)
Question 11
The portion of the deposit not insured shall
A. Be forfeited in favor of the bank
B. Be forfeited in favor of the Government
C. Become a claim against the asset of the closed bank
D. Be written off immediately by the depositor
Answer: C
Question 12
Deposits in which of the following banks are insured by the PDIC?
I. Commercial banks
II. Savings and mortgage banks
III. Private development banks
IV. Cooperative banks
V. Savings and loan associations
A. All except IV
B. All except V
C. All except IV and V
D. All banks enumerated above
Answer: D.
Question 13
True/False. Foreign currency deposits are also insured by the PDIC.
Answer: True. This is pursuant to RA No. 6426 and Central Bank Circular No. 1389.
Question 14
The PDIC will not pay deposit insurance on the following accounts or transactions. Which is the
exception?
A. Investments in bonds
B. Deposit products emanating from unsafe and unsound banking practices
C. Deposits from unlawful proceeds
D. Deposits in foreign currency
Answer: D.
Question 15
True/False. Deposits in different banks are added together for the purpose of the P500,000 maximum.
True/False. Deposits in different branches of the same bank are insured separately.
A. False, True
B. True, False
C. False, False
D. True, True
Answer: C. Deposits in different banks are separately insured. Deposits in different branches of the same
bank are considered as deposits in one bank.
Question 16
To file for claims on the insured deposits, which of the following is/are not required?
A. Original evidence of deposits such as savings passbook
B. Claim form
C. For all depositors, photocopy of birth certificate and valid ID of the parent
D. 1 valid original photo-bearing ID with clear signature of depositor
Question 17
Depositors with valid deposit accounts with balances of ___________________ are not required to
file claims, provided they meet other qualifications, as required.
A. P100,000 and below
B. P150,000 and below
C. P200,000 and below
D. P250,000 and below
Answer: A.
Question 18
A joint demand deposit account in the name of Juan dela Cruz and ABC Corporation in the amount
of P500,000 was held in Bank 1. What is the insured deposit of Juan dela Cruz?
A. Zero
B. P250,000
C. P500,000
D. P100,000
Answer: A. The deposit is presumed to belong entirely to ABC Corporation, the juridical person or entity in
the joint account. Source.