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FMGT 55 > FMGT 55 > Flashcards

FMGT 55 Flashcards

1
Q

It was the first state bank in the Philippines that was established on August 1, 1851 by the Board of Authorities (Junta de Autoridades) in Manila
.

A

Banco Espanol-Filipino de Isabel II

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2
Q

it was among the first bank that emerged in the early 19th century which was more of a loan association than a regular bank.

A

Rodriguez Bank

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3
Q

it was put up and it was the first agricultural bank.

A

Postal Savings Bank

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4
Q

It is the first mutual savings in the country. A unique combination of savings banks and pawnshop opened in 1982 was provided initial capital by the Obras Pias.

A

Monte de Piedad y Caja de Ahorros

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5
Q

It is the service performed by the financial institution known as a bank, which is primarily concerned with the safekeeping of funds through the acceptance of deposits of money, and the provision of credit through lending of money.

A

Banking

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6
Q

The first proper banks would have sprung up where?

A

Ancient Mesopotamia

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7
Q

the first ‘proper’ bank could be said to be this

A

Goldsmiths of London

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8
Q

The first bank to offer banknotes was the Bank of England. Bank notes were, initially what?

A

Promissory notes

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9
Q

These 20th century technology was still used up until today

A

ATM Machines and SWIFT Payments

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10
Q

in 1900, was passed by the First Philippine Commission placing all banks under the Bureau of Treasury.

A

Act no. 52

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11
Q

In 1939, was created to study the Philippine currency and banking system. The Commission recommended the reform of the monetary system, the formation of a central bank and the regulation of money and credit.

A

Philippine-American Finance Commission

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12
Q

In 1946, this charter was chosen as the model of the proposed central bank charter

A

Central Bank of Guatemala

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13
Q

In Aug. 1947, lt was formed to review the Commission’s report and prepare the necessary legislation for implementation.

A

Central Bank Council

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14
Q

When did President Manuel Roxas submitted to Congress a bill “Establishing the Central Bank of the Philippines, defining its powers in the administration of the monetary and banking system, amending pertinent provisions of the Administrative Code with respect to the currency and the Bureau of Banking, and for other purposes.

A

February 1948

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15
Q

This bill was signed into law as Republic Act No. 265 by President Elpidio Quirino.

A

The Central Bank Act

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16
Q

When did the Central Bank of the Philippines (CBP) was inaugurated and formally opened?

A

January 3, 1949

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17
Q

Who is the first governor of BSP?

A

Miguel Cuaderno Sr.

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18
Q

RA No. 265 was amended this presidential decree to make the CBP more responsive to changing economic conditions.

A

Presidential Decree No. 72

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19
Q

Further amendments were made with the issuance of this to improve and strengthen the financial system, among which was the increase in the capitalization of the CBP from P10 million to P10 billion.

A

PD No. 1771

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20
Q

When did Republic Act No. 7653 passed establishing the Bangko Sentral ng Pilipinas (BSP), replacing CBP as the country’s central monetary authority

A

July 3, 1993

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21
Q

This law was passed amending RA No. 7653. The charter amendments bolster the capability of the BSP to safeguard price stability and financial system stability.

A

Republic Act no. 11211

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22
Q

It is a type of digital “currency” created by a community of online users, is stored in electronic wallets (e-wallets), and generally transacted online.

A

Virtual Currency

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23
Q

it is a type of VC that uses cryptography – a method of storing and transmitting data in unreadable form so that only the intended receivers can read and process it.

A

Cryptocurrency

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24
Q

The first and most popular cryptocurrency to date is this which was introduced in 2009

A

Bitcoin

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25
Q

What are the 5 Core Principles of the Financial System?

A

Time has Value
Risk requires compensation
Information is the basis for decisions
Markets set prices and allocate resources
Stability improves welfare

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26
Q

It is a banking system that offers a wide range of banking and financial services (like insurance, development banking, investment banking, commercial banking, and other financial services)

A

Universal Bank

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27
Q

A financial institution that accepts deposits, offers current or checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.
Type answer here

A

Commercial Banks

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28
Q

RA 8791 aims to promote and maintain a stable and efficient banking and financial system that is globally competitive, dynamic and responsive to the demands of a developing economy. What law is this?

A

The General Banking Law

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29
Q

What are the 8 topics under RA 8791

A
  1. Authority of the Central Bank
  2. Organization, Management and Administration of Banks, Quasi-Banks and Trust Entities
  3. Deposits, Loans and Other Operations
  4. Placement Under Conservatorship
  5. Cessation of Banking Business
  6. Laws Governing Other Types of Banks
  7. Foreign Banks
  8. Trust Operations
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30
Q

What are the 7 personal products and services under commercial bank?

A

Deposit accounts
Loan account
Credit Cards
Debit and Prepaid Cards
Pesonet at Instapay
Remittances
Properties

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31
Q

Besides personal, what are the other products and services under commercial bank?

A

Corporate and investment

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32
Q

What are the 2 Universal Bank Products & Services?

A

As an investment house
To invest in non-allied enterprises

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33
Q

What includes Thrift Banks?

A

Savings Banks
Mortgage Banks
Private and Development Banks
Stock Savings and Loan Associations

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34
Q

Established to promote and accelerate socio-economic development of the Autonomous Region of Muslim Mindanao by performing banking and financial investment operations and by establishing and participating in agricultural, commercial and industrial venture based on the Islamic concept of banking

A

Islamic Bank

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35
Q

These are branches, subsidiaries or affiliates of foreign banks which are authorized to transact offshore banking in the country. It deals with banking transactions in foreign currencies involving receipts of funds principally from foreign external sources and the use of such funds.

A

Offshore Banking Units

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36
Q

Serve primarily as thrift institutions drawing funds from household and individual savers and investing such funds, together with its capital in bonds or in loans secured by bonds real estate mortgages and other forms of security

A

Savings Banks

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37
Q

Specialized in the extension of small loans for agriculture purposes as well as for retail traders. All of these are privately owned. They received equity counterparts, loans and technical assistance from the Central.

A

Rural Banks

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38
Q

What are the 10 Non-Banking Financial Institutions?

A

Investment houses
Financial companies
Security dealers
Investment companies
Fund managers
Lending investors
Pawnshops
Venture capital
Thrift and mutual buildings
Loan associations
Non-stock savings and loans association

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39
Q

It can range from a large financial institution with a highly visible brand name and an international presence to a small organization with a local presence.

A

Banking Institution

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40
Q

What are the three common traits of high performing tasks?

A

Outperformers build Resilience
Outperformers control Cost
Outperformers are customer-centric

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41
Q

What are the 10 attributes of Banks?

A

•Deals with money
•Provides Loans
• Identity
•Withdrawal and payment facilities
•Internet Services
•Business
• Increasing Functionality
• Branches at different locations
• Bank can be a company or an individual providing services
• Commercialization

42
Q

What are the two types of banks as to ownership?

A

Privately Owned Banks and Publicly Owned Banks

43
Q

What are the two types of banks as to incorporation?

A

Domestic and Foreign

44
Q

What are the two types of banks as to structure?

A

Stock Corporation and Non-Stock Corporation

45
Q

These are financial institutions that help their customers by providing savings and deposit services

A

Banking Services

46
Q

It helps to mobilize savings and investment in productive activities. In return, they assure investors against their life or some particular asset at the time of need.

A

Insurance Services

47
Q

financial institutions help in capital stock like plant, machinery, tools and equipment

A

Capital Formation

48
Q

Almost all financial institutions have an investment advisory desk that helps customers, investors, and businesses to select the best investment option available in the market

A

Investment Advice

49
Q

These institutions provide their investors access to several investment options available in the market, ranging from stock bonds to hedge funds and private equity investment

A

Brokerage Services

50
Q

though their various kinds of investment plans, financial institutions help individuals plan their retirement.

A

Pension Fund Services

51
Q

Financial organizations manages the client’s assets, invest them in the best option available in the market, and take care of its safekeeping

A

Trust Fund Keeping

52
Q

Like the Central Bank, it helps regulate the money supply in the economy to maintain stability and control inflation

A

Financial Institutions

53
Q

In this role of financial institutions,Financial institutions help small and medium-scale enterprises set up themselves in their initial business days. They provide long-term as well as short-term funds to these companies.

A

Financing the Small and Medium Scale Enterprises

54
Q

In this role of financial institutions, The government regulates financial institutions on a national level. They act as a government agent and help grow the nation’s economy.

A

Act as a government agent for economic growth

55
Q

What section in the General Banking Law is when, The Monetary Board may prescribe rules and regulations on the types of stock a bank may issue, including the terms thereof and rights appurtenant thereto to determine compliance with laws and regulations governing capital and equity structure of banks; Provided, That banks shall issue par value stocks only

A

Section 9. Issuance of stocks

56
Q

What section in the General Banking Law is when, No bank shall purchase or acquire shares of its own capital stock or accept its own shares as a security for a loan, except when authorized by the Monetary Board: Provided, That in every case the stock so purchased or acquired shall, within six (6) months from the time of its purchase or acquisition, be sold or disposed of at a public or private sale.

A

Section 10. Treasury Stocks

57
Q

What section in the General Banking Law is when, Foreign individuals and non-bank corporations may own or control up to forty percent (40%) of the voting stock of a domestic bank. This rule shall apply to Filipinos and domestic non-bank corporations.

A

Section 11. Foreign stockholdings

58
Q

What section in the General Banking Law is when, Stockholdings of individuals related to each other within the fourth degree of consanguinity or affinity, legitimate or common-law, shall be considered family groups or related interests and must be fully disclosed in all transactions by such corporations or related groups of persons with the bank.

A

Section 12. Stockholdings of Family Groups of Related Interests

59
Q

What section in the General Banking Law is when, Two or more corporations owned or controlled by the same family group or same group of persons shall be considered related interests and must be fully disclosed in all transactions by such corporations or related group of persons with the bank.

A

Section 13. Corporate Stockholdings

60
Q

What section in the General Banking Law is when, The Securities and Exchange Commission shall no register the articles of incorporation of any bank, or any amendment thereto, unless accompanied by a certificate of authority issued by the Monetary Board, under it seal. Such certificate shall not be issued unless the Monetary Board is satisfied from the evidence submitted to it.

A

Section 14. Certificate of Authority to Register

61
Q

It shall primarily provide financial, banking and credit services to cooperatives and their members, although it may provide the same services to non-members or the general public.

A

Cooperative Banks

62
Q

These are of colonial mints and were the earliest coins brought in by the galleons from Mexico and other Spanish colonies.

A

Cobs or macuquinas

63
Q

These were circulated extensively not only in the Philippines but the world from over 1732-1772. Treasured for its beauty of design, the coin features twin crowned globes representing Spanish rule over the Old and the New World, hence the name “two worlds”.

A

Spanish dos Mundos

64
Q

A crude bronze or copper coin worth about one centavo, was the first coin struck in the country.

A

Barrilla

65
Q

What period is when the Philippine Republic of 1898 under General Emilio Aguinaldo issued its own coins and paper currency backed by country’s natural resources. At the Malolos Arsenal, two-types of copper centavo coins were struck. One peso and five peso revolutionary notes printed as Republika Filipina Papel Moneda de Un peso and Cinco pesos were freely circulated.

A

Revolutionary Period

66
Q

What period is with the coming of Americans in 1898, modern banking, currency, and credit system were instituted making the Philippines one of the most prosperous countries in East Asia

A

American Period

67
Q

The outbreak of World war II caused serious disturbances in the Philippine Monetary System. Two kinds of notes circulated in the country during this period. The Japanese Occupation Forces issued war notes in high denominations. These war notes had no back up reserves, thus, Filipinos dubbed it as “Mickey Mouse” money.

A

The Japanese Occupation

68
Q

In 1995, a new set of coins and notes was issued In 2009, the Bangko Sentral ng Pilipinas announced that it launched a massive redesign for current banknotes and coins to further enhance security features and improve durability.

A

New Generation Currency Series

69
Q

What are the 8 security features indicated on the front side of a banknote?

A

• embossed prints
• serial number (in variable sized figures)
• security fibers
• watermark
• see-through mark (“Pilipino” spelled in Baybayin, letters, used before the arrival of the Spanish.)
• concealed value
• security thread
• optically variable device (only on 500 and 1000 peso notes)

70
Q

What is the foreign exchange rate of US dollar to peso?

A

58 pesos

71
Q

Since the Philippines is rich in gold, this was used in the Pre-Hispanic Era to be used as a medium of exchange

A

Barter Rings

72
Q

It is the first local form of coinage in the Pre-Hispanic Era

A

Piloncitos

73
Q

What is the foreign exchange rate of Japan Yen to Peso?

A

0.4 pesos

74
Q

What is the foreign exchange rate of UK Pound to Peso?

A

65 pesos

75
Q

What is the foreign exchange rate of Hongkong Dollar to Peso?

A

7 pesos

76
Q

What is the foreign exchange rate of Switzerland Franc to Peso?

A

58 pesos

77
Q

What is the foreign exchange rate of Canada Dollar to Peso?

A

43 pesos

78
Q

What is the foreign exchange rate of Singapore Dollar to Peso?

A

41 pesos

79
Q

What is the foreign exchange rate of Australia Dollar to Peso?

A

37 pesos

80
Q

What is the foreign exchange rate of Bahrain Dinar to Peso?

A

156 pesos

81
Q

What is the foreign exchange rate of Saudi Arabia Riyal to Peso?

A

16 pesos

82
Q

What is the foreign exchange rate of Brunei Dollar to Peso?

A

41 pesos

83
Q

What is the foreign exchange rate of Indonesia Rupiah to Peso?

A

0.004 pesos

84
Q

What is the foreign exchange rate of Thailand Baht to Peso?

A

2 pesos

85
Q

What is the foreign exchange rate of UAE Dirham to Peso?

A

16 pesos

86
Q

What is the foreign exchange rate of European Monetary Union Euro to Peso?

A

57 pesos

87
Q

What is the foreign exchange rate of Korean Won to Peso?

A

0.04

88
Q

What is the foreign exchange rate of China Yuan to Peso?

A

8 pesos

89
Q

What is the foreign exchange rate of Argentina Peso to Philippine Peso?

A

0.4 pesos

90
Q

What is the foreign exchange rate of Brazil Real to Peso?

A

11 pesos

91
Q

What is the foreign exchange rate of Denmark Kroner to Peso?

A

8 pesos

92
Q

What is the foreign exchange rate of India Rupee to Peso?

A

1

93
Q

What is the foreign exchange rate of Malaysia Ringgit to Peso?

A

12 pesos

94
Q

What is the foreign exchange rate of Mexico New Peso to Philippine Peso?

A

3 pesos

95
Q

What is the foreign exchange rate of New Zealand Dollar to Peso?

A

34 pesos

96
Q

What is the foreign exchange rate of Norway Kroner to Peso?

A

6 pesos

97
Q

these are essential to the effective functioning of financial systems worldwide. They provide the channels through which funds are transferred among banks and other institutions to discharge payment obligations arising from economic and financial transactions across the entire economy.

A

Payment Systems

98
Q

a fully collateralized facility established to maintain the smooth and efficient operation of the payments system in order to avoid interbank payments gridlock in the settlement process within PhilPaSS business hours.

A

Intraday Liquidity Facility (ILF)

99
Q

Another collateralized facility which aims to assist bank experiencing unexpected or higher than usual volume of inward check transactions. The governing policies and procedures are provided under BSP Circular 681 in order to provide additional liquidity for banks encountering liquidity problems due to check clearing losses as well as protect the BSP against settlement exposures.

A

Overdraft Credit Line (OCL)

100
Q

What are the types of Banks?

A

Universal Banks
Commercial Banks
Savings Banks
Thrift Banks
Rural Banks
Islamic Banks

FMGT 55 (3 decks)

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