Lesson 16.1 Banks

Question 1

It is the manipulation and control of money supply even credit conditions in the economy.

Answer 1

Monetary Policy

Question 2

They are the ones implementing the Monetary Policy. It has the function to balance the economy and are responsible for the smooth transfer of money within the economy, stability of money supply, and control of inflation.

Answer 2

Financial Institutions

Question 3

It is an institution for lending, borrowing, issuing, or managing money.

Answer 3

Bank

Question 4

It is the largest among the banks in terms of functions. They are those that accepts all kinds of deposits including savings.

Answer 4

Commercial Banks

Question 5

This is the unified system of different commercial banks for a more convenient and fast transaction service.

Answer 5

Universal Banking

Question 6

It is the 24/7 banking transactions, and the latest service in the online and mobile banking.

Answer 6

Automated Teller Machine (ATM)

Question 7

It aims to help farmers to have a capital.

Answer 7

Rural Bank

Question 8

It is the Republic Act that created the Rural Banks.

Answer 8

R. A. No. 720

Question 9

It is also known as savings bank. It encourages people to save portions of their income in banks.

Answer 9

Thrift Banks

Question 10

It gives loan and accepts deposit from members

Answer 10

Savings and Loan Association

Question 11

It accepts deposits that can be used by small and medium-scale businessmen

Answer 11

Private Development Act

Question 12

It is known as the Private Development Banks Act

Answer 12

R. A. 4093

Question 13

Ut encourages people to save and at the same time accepts pawned items as collateral for loans.

Answer 13

Savings and Mortgage Bank

Question 14

These are banks that take care of the properties and funds of people like minors who have no power to care for their properties. They also manage funds and properties of the church and other charitable institutions.

Answer 14

Trust Conpanies

Question 15

It was established to promote and implements its programs for socio-economic development of the country

Answer 15

Special Banks

Question 16

It became the main bank of the Philippines and has the aim to enforce land reform. It also helps businessmen and entrepreneurs who are need of capital

Answer 16

Land Bank of the Philippines

Question 17

It was how the (LBP) was created

Answer 17

R. A. 3844

Question 18

It gives financial help to promote different economic projects and programs in agriculture and industry

Answer 18

Development Bank of the Philippines

Question 19

It is the only bank in the Philippines that is authorised to offer Islamic banking. It is also licensed to do both commercial and investment banking services, similar to the Universal Bank

Answer 19

Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP)

Question 20

It is the Republic Act that created the Al-Amanah Islamic Investment Bank of the Philippines

Answer 20

R. A. No 6848

Question 21

It started its operation in December 1966 in Manila. It aims to provide economic and social support to the developing member countries through loans and technical support

Answer 21

Asian Development Bank (ADB)

Question 22

It was established to provide loans to the member countries

Answer 22

International Monetary Fund (IMF)

Question 23

It is the value of which is the equivalent of the average value of five currencies like US Dollar, Japanese Yen, French Franc and many more

Answer 23

Special Drawing Right (SDR)

Question 24

They both act as the Central Bank. They regulate and control the value of the currency or the borrowing country.

Answer 24

The IMF and the WB

Question 25

It was established in 1946 in Washington. Its original objective was to rebuild the economy of the countries that were destroyed in World War 2.

Answer 25

World Bank

Question 26

It is created to safeguard the interest and welfare of all government employees.

Answer 26

Government Service Insurance System (GSIS)

Question 27

It aim to provide support to all members that come from the private sectors.

Answer 27

Social Security System (SSS)

Question 28

It is the Republic Act that created the (SSS)

Answer 28

Republic Act No. 1992

Question 29

It was established to help the members have their own houses. It receives contributions from its members from government, private employees, and (OFWs).

Answer 29

Pag-IBIG (Pagtutulungan sa Kinabukasan – Ikaw, Bangko, Industriya at Gobyerno) Fund

Question 30

It was created throught the Presidential Degree No. 1267 on December 21, 1977 which aims to help individuals to own a house a lot through modes of installment.

Answer 30

National Home Mortgage Finance Corporation (NHMFC)

Question 31

It is one of the business ventures that serves as the middleman to all individuals who need financial help. It accepts anything of value as collateral to their loan.

Answer 31

Pawnshop

Question 32

It isnthe Bank of banks. It is a central institution design to bring about unified control of the financial system of the country.

Answer 32

Central Bank

Question 33

It was created through R. A. No. 265 on June 3, 1949. It is the country's monetary authority

Answer 33

Bangko Sentral ng Pilipinas

Question 34

It represents the interest rate charged by BSP to the bank debtor

Answer 34

Discount Rate

Question 35

It is the percentage of deposits to be kept in the banks as reserves.

Answer 35

Reserve Requirement

Question 36

The BSP sells bonds of the government known as Treasury Bills.

Answer 36

Open Market Operation

Question 37

It represents the debt of the government

Answer 37

Treasury Bills

Question 38

It is the sole power of the BSP mint money

Answer 38

Fiat Money Authority

Question 39

It is to encourage different banks to control the supply of money in the circulation

Answer 39

Moral Suasion

Question 40

It is the process of creating the form tat a huge amount of money obtained from serious crimes.

Answer 40

Money Laundering

Question 41

It defines money laundering as a criminal offense.

Answer 41

Anti-Money Laudering Act (AMLA)

Question 42

It is to combat money laundering.

Answer 42

Anti-Money Laundering Council (AMLC)

Question 43

It is the conversion of one currency to another.

Answer 43

Foreign Exchange

Question 44

It is the policy to control inflation

Answer 44

Tight Money Policy

Question 45

It was created through R.A. 7653

Answer 45

Central Monetary Authority