Law on Cooperatives

Question 1

The minimum number of natural persons required to organize a primary cooperative is:
A. 5
B. 10
C. 15
D. 20

Answer 1

C

Question 2

What seminar must be completed by a prospective member of a primary cooperative:
A. Pre-Membership Education Seminar
B. Pre-Membership Election Seminar
C. Post-Membership Education Seminar
D. Post-Membership Enrichm
ent Seminar

Answer 2

A

Question 3

Asingle-purpose cooperative may transform into a multi-purpose cooperative and may create subsidiaries only after at least:
A. 2 years of operation
B. 2 years from registration
C. 2 years from cooperation
D. 5 years from registration

Answer 3

A

Question 4

A cooperative duly registered shall have:
A. Comprehensive liability
B. Limited liability
C. Absolute liability
D. General liability

Answer 4

B

Question 5

A cooperative may register for a term not exceeding how many years?

A. 100
B. 50
C. 25
D. 20

Answer 5

B

Question 6

A cooperative may apply for extension of term but such extension cannot be made earlier than _ years prior to the original or subsequent expiry date/dates.
A. 5
В. 4
C. 3
D. 2

Answer 6

A

Question 7

The minimum subscription of the authorized capital stock of a cooperative is:
A. 10% of the ACS
B. 15% of the ACS
C. 25% of the ACS
D. 30% of the ACS

Answer 7

C

Question 8

The minimum paid-up share capital of a cooperative shall be 25% of the total subscription but not less than:

A. 3,500
В. 5,000
C.10,000
D.15,000

Answer 8

D

Question 9

CDA shall periodically assess the required paid-up share capital and may increase every _years.
A. 5
B. 4
C. 3
D. 2

Answer 9

A

Question 10

Al applications for registration shall be finally disposed of by the CDA within a period of 60 days from the filing thereof, otherwise the application is:
A. Deemed denied
B. Deemed approved
C. Considered pending until final resolution
D. Returned to the applicant

Answer 10

B

Question 11

Should the Office of the President fail to act on the appeal within the required period from the filing thereof, ti shall mean:
A. Remand of the application back to CDA
B. Conditional approval awaiting final signature
C. Approval of the application
D. Denial of the application

Answer 11

C

Question 12

Acertificate of registration issued by the CDA under its official seal shall be _ evidence that the cooperative therein mentioned is duly registered.
A. Disputable
B. Presumptive
C. Prima facie
D. Conclusive

Answer 12

D

Question 13

The articles of cooperation and bylaws of the cooperative may be amended by _. vote of al members with voting rights.
A. 2/3
B. 1/3
C. 1⁄2
D. 1⁄4

Answer 13

A

Question 14

Contracts executed between private persons and cooperatives prior to the registration of the cooperative shall be _
between the parties and upon registration of the cooperative.
A. Void
B. Voidable
C. Valid
D. Unenforceable

Answer 14

C

Question 15

Any registered cooperative may resolve to divide itself into 2 or more cooperatives by a resolution approved by a vote of _ of all the members with voting rights.
A. 3/4
B. 2/3
C. 1⁄2
D. 1⁄4

Answer 15

A

Question 16

Any registered cooperative may resolve to merge or consolidate with another cooperative by a resolution approved by a vote of _ of all the members with voting rights.
A. 3/4
B. 2/3
C. 1⁄2
D. 1⁄4

Answer 16

A

Question 17

Any merger or consolidation of cooperatives shall be effective upon:
A. The filing of the articles of merger and consolidation with the CDA
B. The election of the directors of the merged and consolidated cooperatives
C. The issuance of the certificate of merger and consolidation by the CDA
D. The date indicated in the articles of merger and consolidation

Answer 17

C

Question 18

It is a cooperative that promotes and undertakes savings and lending services among its members.
A. Consumers
B. Credit
C. Lending
D. Finance

Answer 18

B

Question 19

It is a cooperative the primary purpose of which is to procure and distribute commodities to members and non-members.
A. Producers
B. Credit
C. Procurement
D. Consumers

Answer 19

D

Question 20

It is a cooperative that undertakes joint production whether agricultural or industrial.
A. Producers
B. Consumers
C. Farmers
D. Agro-industrial

Answer 20

A

Question 21

It is a cooperative which is engaged in medical and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication, professional and other services.
A. Service
B. Health
C. Labor
D. Professional

Answer 21

A

Question 22

It is a cooperative which combines 2 or more of the business activities of the different types of cooperatives
A. Bi-purpose
В. Tri-purpose
C. Multipurpose
D. Complex

Answer 22

C

Question 23

It is a cooperative which promotes and advocates cooperativism.
A. Social
B. Advocacy
C. Promotional
D. NGO

Answer 23

B

Question 24

It is a cooperative which is organized by marginal farmers majority of which are agrarian reform beneficiaries.
A. Agrarian Reform
B. Agricultural
C. Farmers
D. Advocacy

Answer 24

A

Question 25

It is a cooperative which is organized for the primary purpose of providing a wide range of financial services to cooperatives and their members. A. Financial B. Credit C. Cooperative bank D. Lending

Answer 25

C

Question 26

It is a cooperative whose members are engaged in the production of fresh milk which may be processed and/or marketed as dairy products. A. Dairy C. Poultry B. Farmer D. Agricultural

Answer 26

A

Question 27

It is a cooperative organized for the primary purpose of owning and operating licensed educational institutions. А. Training B. Vocational C. Academic D. Education

Answer 27

D

Question 28

It is a cooperative which si organized for the primary purpose of undertaking power generations, utilizino, renewable energy sources, including hybrid systems, acquisition and operation of subtransmission or distribution to its house old members. A. Energy B. Electric C. Utility D. Light

Answer 28

B

Question 29

It is a cooperative which is organized for the primary purpose of engaging in savings and credit services and other financial services. A. Financial services B. Credit C. Cooperative bank D. Lending

Answer 29

A

Question 30

It is a cooperative which is organized to own, operate and manage water systems for the provision and distribution of potable water for its members and their households. A. Water service B. Aquatic C. Utility D. Resource

Answer 30

A

Question 31

A Housing Cooperative is _ by its members. A. Co-owned only B. Controlled only C. Co-owned and controlled D. Supervised

Answer 31

C

Question 32

It is a cooperative the members of which are natural persons. A. Primary B. Secondary C. Tertiary D. Natural

Answer 32

A

Question 33

It represents the interest and welfare of al types of cooperatives at the provincial, city, regional and national levels. A. Federation B. Managing cooperative C. Cooperative union D. Association

Answer 33

C

Question 34

The kinds of membership in a cooperative are: A. Regular and associate B. Regular and special C. Ordinary and extra-ordinary D. Class A and Class B

Answer 34

A

Question 35

An associate who meets the minimum requirements of regular membership, continues to patronize het cooperative for _ years, and signifies his/her intention to remain a member shall be considered a regular member. A. 1 B. 2 . C. 3 D. 4

Answer 35

B

Question 36

Acooperative organized by minors shall be considered a..._ cooperative. A. Minor В. Youth C. Young D. Laboratory

Answer 36

D

Question 37

What is a delegable power of the GA? A. To approve contracts entered into by the cooperative B. To determine and approve amendments to the articles of cooperation C. To elect or appoint the members of the board of directors and remove them for cause D. To approve developmental plans of the cooperative

Answer 37

A

Question 38

Only for purposes of prompt and intelligent decision-making, the GA may by a _ vote of all its members with voting rights, delegate some of its powers to a smaller body of the cooperative. А. 3/4 B. 2/3 C. 1⁄2 D. 1/4

Answer 38

A

Question 39

If not so fixed, the annual regular meeting of the GA must be held within how many days after the close of each fiscal year? A. 30 B. 90 C. 60 D. 45

Answer 39

B

Question 40

Notice in writing calling for a special meeting of the GA must be s e n t prior to the meeting to al members entitled to vote. A. 5 days В. 10 days C. One week D. One month

Answer 40

C