Chapter 1: General Concepts and Principles

Question 1

This is the previous cooperative code before RA 9520.

Answer 1

RA 6938 or the Cooperative Code of the Philippines

Question 2

What is RA 9520 also known as?

Answer 2

Philippine Cooperative Code of 2008

Question 3

When was RA 9520 signed into law?

Answer 3

February 17, 2009

Question 4

True or False: When RA 9520 was signed into law, it also became effective.

Answer 4

False. It took effect 15 days after the completion of publication on newspapers and the Official Gazette

Question 5

When did RA 9520 become effective?

Answer 5

March 7, 2009

Question 6

How many days after the completion of publication on newspapers of general circulation and on the Official Gazette did RA 9520 became effective?

Answer 6

15 days

Question 7

The State recognizes the principle of ________ under the cooperative sector will initiate within its own organization.

Answer 7

Subsidiarity

Question 8

True or False: Not all cooperatives can set-up cooperative branch office and cooperative satellite office

Answer 8

False. All may set up.

Question 9

This is a business office outside the principal office where cooperative activities and business operation are undertaken as per approved cooperative development plan.

Answer 9

Branch Office

Question 10

What is PMES?

Answer 10

Pre-Membership Education Seminar

Question 11

What is CDA?

Answer 11

Cooperative Development Authority

Question 12

This is the official document issued by the CDA authorizing the establishment and operation of a cooperative branch.

Answer 12

Certificate of Authority

Question 13

How many months before transfer of branch or relocation shall notice to CDA be given?

Answer 13

3 months

Question 14

This is an autonomous and duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by making equitable contributions to the capital required.

Answer 14

Cooperative

Question 15

True or False: A cooperative is also a recognized mode of business organization.

Answer 15

True

Question 16

This refers to the conditions where members associate themselves to attain their common goals and objectives.

Answer 16

Bond of Membership

Question 17

What are the 4 bonds of membership?

Answer 17

Residential
Occupational
Associational
Institutional

Question 18

This is the excess payments made by members which shall not be contracted as profits from the. loans or goods and availed of.

Answer 18

Net surplus

Question 19

This is the amount constituting the patronage refund and interest on share capital of the members, the payment which has been deferred by the cooperative.

Answer 19

Revolving capital

Question 20

When are share certificates given to fully paid subscribers?

Answer 20

At the end of the calendar year when which they paid

Question 21

When a member has not yet fully paid her subscription, what does she receive?

Answer 21

Subscription agreement

Question 22

What are the cooperative principles? (7)

Answer 22

1. Voluntary and Open Membership
2. Democratic Member Control
3. Member Economic Participation
4. Autonomy and Independence
5. Education, Training, and Information
6. Cooperation Among Cooperatives
7. Concern for Community

Question 23

True or False: A member of a cooperative is always only a natural person.

Answer 23

False. It may be a natural or juridical person.

Question 24

This means the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations of cooperatives.

Answer 24

General Assembly

Question 25

This is the body entrusted with the management of the affairs of the cooperative under its articles of cooperation and bylaws.

Answer 25

Board of Directors

Question 26

This is any body entrusted with specific functions and responsibilities under the bylaws or resolution of the general assembly or the BOD.

Answer 26

Committee

Question 27

This is the operative act granting juridical personality to a proposed cooperative.

Answer 27

Registration

Question 28

What is the evidence of a cooperative's juridical personality?

Answer 28

Certificate of Registration

Question 29

This is the government agency in charge of the registration and regulation of cooperatives.

Answer 29

Cooperative Development Authority

Question 30

These are members from each sector, chapter, or district duly elected during the general assembly meeting approving the adoption of the representative assembly who will conduct the election of the sector, chapter, or district.

Answer 30

Election Deputies

Question 31

True or False: Election deputies are officers of the cooperative.

Answer 31

False.