REVIEWER

Question 1

What is the title of Republic Act No. 9520?

a. Philippine Cooperative Code of 2008
b. Cooperative Code of the Philippines of
2004
c. Cooperative Law of the Philippines of
2006
d. Philippine Cooperative Law of 2010

Answer 1

a. Philippine Cooperative Code of 2008

Question 2

It 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, patronizing their products and
services and accepting a fair share of the
risks and benefits of the undertaking in
accordance
with universally accepted
cooperative principles.

a. Corporation
b. Cooperative
c. Joint Venture
d. Association

Answer 2

b. Cooperative

Question 3

Which of the following is not a cooperative principle?

a. Democratic Member Control
b. Autonomy and Independence
c. Involuntary and Close Membership
d. Concern for Community

Answer 3

c. Involuntary and Close Membership

Question 4

Which of the following is not a cooperative
principle?

a. Education, Training and Information
b. Cooperation among Cooperatives
c. Member Economic Participation
d. Taxability of Cooperatives

Answer 4

d. Taxability of Cooperatives

Question 5

This cooperative principle means that
Cooperatives are voluntary organizations,
open to all persons able to use their services
and willing to accept the responsibilities of
membership, without gender, social, racial,
cultural, political or religious discrimination.

a. Democratic Member Control
b. Voluntary and Open Membership
c. Autonomy and Independence
d. Concern for Community

Answer 5

b. Voluntary and Open Membershi

Question 6

It refers to the government agency
created by Cooperative Code entrusted with
the supervision and regulation of
cooperatives in the Philippines.

a. Securities and Exchange Commission
(SEC)
b. Bangko Sentral ng Pilipinas (BSP)
c. Cooperative Development Authority
(CDA)
d. Insurance Commission (IC)

Answer 6

c. Cooperative Development Authority
(CDA)

Question 7

It refers to a type of audit wherein the
cooperative assesses its social impact and
ethical performance vis-à-vis its stated
mission, vision, goals and code of social
responsibility for cooperatives to be established by the CDA in consultation with
the cooperative sector.

a. Social Audit
b. Performance Audit
c. Financial Statements Audit
d. Compliance Audit

Answer 7

a. Social Audit

Question 8

It refers to a type of audit on the
efficiency
and effectiveness
of
the
cooperative as a whole; its management and
officers; and its various responsibility centers
as basis for improving individual team or
overall performance and for objectively
informing the general membership on such
performance.

a. Social Audit
b. Performance Audit
c. Financial Statements Audit
d. Compliance Audit

Answer 8

b. Performance Audit

Question 9

It refers to a type of cooperative that is
undertaking activities which are related to its
main line of business or purpose.

a. Single-Line or Single-Purpose
Cooperative
b. Service Cooperative
c. Multi-Purpose Cooperative
d. Subsidiary Cooperative

Answer 9

a. Single-Line or Single-Purpose
Cooperative

Question 10

It is a type of cooperative that promotes cooperativism among its members and the
public through socially-oriented projects,
education and training, research and
communication, and other similar activities
to reach out to its intended beneficiaries.

a. Education Cooperative
b. Advocacy Cooperative
c. Training Cooperative
d. Learning Cooperative

Answer 10

b. Advocacy Cooperative

Question 11

It is a type of cooperative that promotes
and undertakes savings and lending services
among its members. It generates a common
pool of funds in order to provide financial
assistance to its members for productive and
provident purposes.

a. Insurance Cooperative
b. Credit Cooperative
c. Cooperative Bank
d. Financial service Cooperative

Answer 11

b. Credit Cooperative

Question 12

It is a type of cooperative that is
organized for the primary purpose of
engaging in savings and credit services and
other financial services.

a. Insurance Cooperative
b. Credit Cooperative
c. Cooperative Bank
d. Financial service Cooperative

Answer 12

d. Financial service Cooperative

Question 13

It is a type of cooperative the primary
purpose of which is to procure and distribute
commodities to members and non-members.

a. Marketing Cooperative
b. Producers Cooperative
c. Consumers Cooperative
d. Client Cooperative

Answer 13

c. Consumers Cooperative

Question 14

It is a type of cooperative that combines
two (2) or more of the business activities of
these different types of cooperatives.

a. Multi-purpose Cooperative
b. Single-line Cooperative
c. Dual-purpose Cooperative
d. No-purpose Cooperative

Answer 14

a. Multi-purpose Cooperative

Question 15

It is a type of cooperative the members of
which are natural persons.

a. Primary Cooperative
b. Secondary Cooperative
c. Tertiary Cooperative
d. Intermediate Cooperative

Answer 15

a. Primary Cooperative

Question 16

It is a type of cooperative that engages in
medical and dental care, hospitalization,
transportation, insurance, housing, labor,
electric light and power, communication,
professional and other services.

a. Consumers Cooperative
b. Producers Cooperative
c. Credit Cooperative
d. Service Cooperative

Answer 16

d. Service Cooperative

Question 17

It is a type of cooperative organized for
the primary purpose of undertaking power
generations, utilizing renewable energy
sources, including hybrid systems, acquisition
and operation of subtransmission or
distribution to its household members.

a. Electric Cooperative
b. Insurance Cooperative
c. Water Service Cooperative
d. Dairy Cooperative

Answer 17

a. Electric Cooperative

Question 18

It is a type of cooperative organized to
assist or provide access to housing for the
benefit of its regular members who actively
participate in the savings program for
housing. It is co-owned and controlled by its
members.

a. Transport Cooperative
b. Housing Cooperative
c. Workers Cooperative
d. Fishermen Cooperative

Answer 18

b. Housing Cooperative

Question 19

It is a type of cooperative organized by
workers, including the self-employed, who
are at same time the members and owners
of the enterprise. Its principal purpose is to
provide
employment
and
business
opportunities to its members and manage it
in accordance with cooperative principles

a. Transport Cooperative
b. Housing Cooperative
c. Workers Cooperative
d. Fishermen Cooperative

Answer 19

c. Workers Cooperative

Question 20

It is a type of cooperative whose
members are engaged in the production of
fresh milk which may be processed and/or
marketed as dairy products.

a. Dairy Cooperative
b. Meat Cooperative
c. Vegetable Cooperative
d. Fruits Cooperative

Answer 20

a. Dairy Cooperative

Question 21

The following are the purposes of a
cooperative, except

a. To encourage thrift and savings
mobilization among the members

b. To generate funds and extend credit
to the members for productive and
provident purposes

c. To encourage among members
systematic production and marketing

d. To promote monopoly and restraint of
trade

Answer 21

d. To promote monopoly and restraint of
trade

Question 22

Which of the following is a purpose of a cooperative?

a. To promote and advance the
economic, social and
educational status of the
members

b. To discriminate against
non-members of a cooperative

c. To discourage self-help or
self-employment as an engine for
economic growth and poverty
alleviation

d. To provide goods and services and
other requirements to the
non-members

Answer 22

a. To promote and advance the
economic, social and
educational status of the
members

Question 23

Which of the following is the purpose of a cooperative?

a. To encourage thrift and savings
mobilization among the members

b. To maximize the control of wealthy
people of businesses

c. To acquire land for
development as condominium
projects for commercial
purposes

d. To advocate strike, rally and
boycott

Answer 23

a. To encourage thrift and savings
mobilization among the members

Question 24

Which of the following is not a purpose of a cooperative?

a. To promote and advance the
economic, social and educational
status of the members

b. To encourage and promote
self-help or self-employment as an
engine for economic growth and
poverty alleviation

c. To generate funds and extend credit
to the members for productive and
provident purposes;

d. To create monopoly or business
considered as restraint of trade

Answer 24

d. To create monopoly or business
considered as restraint of trade

Question 25

Which of the following is an objective of a cooperative? a. To provide goods and services to its members to enable them to attain increased income, savings, investments, productivity, and purchasing power,and promote among themselves equitable distribution of net surplus through maximumutilization of economies of scale, cost-sharing and risk-sharing b. To teach members of inefficient ways of doing things in a cooperative manner c. To allow the higher income and more privileged groups to increase their ownership in the wealth of the nation d. To provide minimal social and economic benefits to its members

Answer 25

a. To provide goods and services to its members to enable them to attain increased income, savings, investments, productivity, and purchasing power,and promote among themselves equitable distribution of net surplus through maximumutilization of economies of scale, cost-sharing and risk-sharing

Question 26

The following are the functions of a Federation of Cooperatives, except a. To carry on any cooperative enterprise that complements augments, or supplements but does not conflict, complete with, nor supplant the business or economic activities of its member cooperatives. b. To carry on, encourage, and assist educational and advisory work relating to its member cooperatives. c. To render services designed to encourage simplicity, efficiency, and economy in the conduct of the business of its member cooperatives and to facilitate the implementation of their bookkeeping, accounting, and other systems and procedures. d. To print, publish, and circulate any newspaper or other publication in the interest of its member cooperatives and enterprises. e. To coordinate and facilitate the activities of its member cooperatives. f. To develop the cooperative movement in their respective jurisdictions.

Answer 26

f. To develop the cooperative movement in their respective jurisdictions.

Question 27

The following are the purposes of Cooperative Unions, except a. To represent its member organizations. b. To acquire, analyze, and disseminate, economic, statistical, and other information relating to its members and to all types of cooperatives within its area of operation. c. To sponsor studies in the economic, legal, financial, social and other phases of cooperation, and publish the results thereof. d. To develop the cooperative movement in their respective jurisdictions. e. To advise the appropriate authorities on all questions relating to cooperatives. f. To raise funds through membership fees, dues and contributions, donations, and subsidies from local and foreign sources whether private or government. g. To enter into joint ventures with national or international cooperatives of other countries in the manufacture and sale of products and/or services in the Philippines and abroad.

Answer 27

g. To enter into joint ventures with national or international cooperatives of other countries in the manufacture and sale of products and/or services in the Philippines and abroad.

Question 28

Which of the following statements is true if a cooperative complies with the provisions of Philippine Cooperative Code of 2008? a. Such cooperative shall be deemed a conspiracy or combination in restraint of trade. b. Such cooperative shall be implied an illegal monopoly. c. Such cooperative shall be considered an attempt to lessen competition or to fix price arbitrarily. d. None of the above

Answer 28

d. None of the above

Question 29

The following are the qualifications of organizers or cooperators of a prospective cooperative, except a. They are 15 or more natural persons. b. They are all Filipino citizens. c. They are actually residing or working in the intended area of operation. d. They have a common bond of interest. e. They must be incapacitated persons

Answer 29

e. They must be incapacitated persons

Question 30

What is the number of cooperators or founders of a primary cooperative? a. 15 or more natural persons b. Not less than 5 but not more than 15 natural persons c. 5 but not more than 10 natural persons d. 10 or more natural persons

Answer 30

a. 15 or more natural persons

Question 31

What is the maximum foreign investment or ownership in a cooperative? a. 100% b. 40% c. 30% d. 0%

Answer 31

d. 0%

Question 32

It shall refer to a cooperative duly recognized by the Authority, formed and managed principally by minors and is affiliated with another registered cooperative which is called the guardian cooperative. a. Laboratory Cooperative b. Guardian Cooperative c. Student Cooperative d. Youth Cooperative

Answer 32

a. Laboratory Cooperative

Question 33

The following are the purposes of laboratory cooperative, except a. To serve as a training ground for its members to prepare them for membership in regular cooperatives b. To teach the value of thrift and saving mobilization among its members c. To instill cooperative values, principles, financial discipline and leadership skills among its members d. To promote and advance Filipino social and cultural values, ecological awareness and sustainabledevelopment. e. To accumulate or to raise fund for the setting of guardian cooperative

Answer 33

e. To accumulate or to raise fund for the setting of guardian cooperative