FINMAN 2- FINAL

it is an agreement whereby one undertakes for a consideration to indemnify another against loss, damage or liability arising from an unknown or contingent event.

Insurance Code

Represented by a policy, in which an individual or entity
receives financial protection or reimbursement against
losses from an insurance company.

to protect someone or something against possible
damage or loss by paying an indemnity to cover the costs.

a person or company that underwrites an insurance
risk; the party in an insurance contract undertaking to pay compensation.

It is the price, typically expressed
as a monthly cost. The _____ is determined by the insurer based on your or your business's risk profile, which may include creditworthiness.

a person or organization covered by insurance; entity
or property covered under an insurance policy against insured perils.

the provision of a broad range of financial services such as deposits, loans, payment services, money transfers and insurance products to the poor and low-income households and their microenterprises.

It is important to note that Microfinance is NOT subsidized credit, NOT a dole-out, NOT salary or consumption loans, and a cure- all for poverty. (T or F)

Who is the clients of microfinance??

that the poor need sustained access to financial
services and products and this sustained access is a
primary issue over interest rates. (t or f)

that the poor have the capacity to repay their loans and
to save and,( t or f)

that macrofinance institutions can be operationally and
financially self-sufficient.(t or f)

Who are the probider of the microfinace services

2 types of approaches

where the microfinancial service is provided in the context of a group

where repayment and schedules rely solely on the individual (i.e. character, cash-flow, etc.)

Refers to a person or entity engaged in the business of lending money on personal property delivered as security for loans and shall be synonymous, and may be used interchangeably, with pawnbroker or pawnbrokerage.

shall refer to the borrower from a pawnshop.

shall refer to the pawnshop or pawnbroker.

is the personal property delivered by the pawner to the
pawnee as security for a loan.

is the pawnbrokers' receipt for a pawn. It is
neither a security nor a printed evidence of indebtedness.

Shall include only such personal property as may
actually be delivered to the control and possession of the pawnshop: Guns, knives and similar weapons whose reception in pawn is expressly prohibited by other laws or regulations shall not be included.

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 risks and benefits of the undertaking in accordance with the universally accepted cooperative principles.

Provide goods and services to its non members to enable them to attain increased income, savings, investments, productivity, and purchasing power, and promote among themselves equitable distribution of net surplus through maximum utilization of economies of scale, cost-sharing and risk-sharing; ( T or F)

Provide optimal social and economic benefits to its
members; (True or False)

Teach them efficient ways of doing things in a
cooperative manner ( True or False)

Propagate cooperative practices and new ideas in
business and management; T or F

Allow the lower income and less privileged groups to
increase their ownership in the wealth of the nation;
and; T or F

Cooperate with the government, other cooperatives
and people-oriented organizations to further the
attainment of any of the foregoing objectives. T or F

2 Kinds of Cooperative Members

Type of cooperative member that is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership as stated in the Cooperative Code and the cooperative by laws.

type of members that has no right to vote and be voted upon and is entitled only to such rights and privileges provided by the cooperative's by laws.

It is a multi-bank, multi-channel electronic payments
network that enables its members’ customers to transact not only at Automated Teller Machines (ATM) but also at point- of- sale (P.O.S.) terminals, the Internet and mobile phones.

when the BancNet operate?

Was the first operational of a shared ATM network in
the Philippines, and was formed by Equitable Bank,
Far East Bank & Trust Co., Philippine National Bank
and United Coconut Planters Bank.

It is a comprehensive web based solution which
includes transaction routing, management, settlement,
reconciliation, auditing and reporting solution that
caters to the delivery of multiple services using an
array of distribution channels within a single or multi-
institutional environment.

refers to money that is sent or transferred
to another party.

An enity where you can you transfer or sent your moneyto others

Is defined as contracts or agreements conducted without reference or recourse to the legal system to exchange cash in the present for promises of cash in the future.

Informal groups operate on the days which are convenient for their members. ( T or F)

Informal sector associations are not accepting any amount of regular savings, even the most modest sums which a saver can afford to set it aside.

For the small store owner, these informal lenders provide a ______of temporary capital when business is slow or when there’s a need to invest in extraordinary goods or services that can make a quick profit, never mind the higher interest rate.

a person who – or an entity that – charges
borrowers interest above an established legal rate.

is a long, sharp blade that can be fixed to the end of
a rifle and used as a weapon.

Republic Act No. 2664

The term ______ shall include all military personnel who served with the military forces of the Philippines during the revolution against Spain, the Spanish American War, World War I, World War II, and the Korean conflict.

what year it was convieved, the reparations agreement, as part of the peace treaty had been signed with Japan.

the compensation for war damage paid by a
defeated state.

when the Vetaran Bank establish

is a private commercial bank owned by World War II veterans and their descendants

is the agency of the Philippine government under the Department of National Defense

AFPRSBS was pursuant to?

The AFP Retirement and Separation Benefits System
is called

the AFPRSBS was created and duly organized under and by virtue of

when the AFPRSBS was promulgated?

Whay yeat the AFPRSBS formally started it operation?

what order issued by Office of the president supplement executive order to ablolish the AFPRSBS?

when was the AFPRSBS abolished?

it offer financial services that are not provided by banking institutions.

they do facilitate alternative financial services, such as
investment (both collective and individual), risk pooling,
financial consulting, brokering, money transmission, and
check cashing

is a financial institution that does not have a full banking license and cannot accept deposits from the public.

means borrowing funds from twenty or more personal or corporate lenders at any one time,....

are stock corporations engaged in the underwriting of
securities of other corporations on a guaranteed basis

major role is capital formation, engaging in portfolio
management, stockbrokerage, financial consultancy and
lending operations

are corporations or general partnerships extending credit facilities to consumers and to industrial, commercial or agricultural enterprises and leasing movable properties.

are issuers of securities primarily engaged in the business of investing or trading in securities

2 types of Investment Companies

buys and sells shares of stock of another, or acquires
securities for profit.

develop, promote and assist small and medium scales
enterprises through debt and equity financing

whay are the Banking Operations/Products?

This refers to interest- or non-interest-bearing deposits
which are withdrawable upon demand thru available bank channels.

This account will enable Filipinos, especially the unserved and underserved, to receive and make payments, as well as have a facility for store of value.

It will have the basic functionalities that will characterize ease, accessibility, convenience, and reasonable cost for both banks and customers.

Types of Savings Deposits

it is a money, property, or other material goods given to
another party in exchange for future repayment of the loan value or principal amount, along with interest or finance charges.

it may be for a specific, one-time amount or can be
available as an open-ended line of credit up to a specified limit or ceiling amount.

Is used for regular and frequent money transactions like
paying bills, tuition, and rent.

Government agencies and commercial banks in the
Philippines require this type of bank account for repayment of personal loans or housing loans through post-dated checks.

Businesses and non-profit organizations also use it to
manage their cash flow efficiently

is a type of savings/investment account that
promises the investor a fixed rate of interest.

In return, the investor agrees not to withdraw or access
their funds for a fixed period of time.

In a fixed deposit investment, interest is only paid at the
very end of the investment period

a thin rectangular slab of plastic issued by
a financial company, that lets cardholders borrow funds
with which to pay for goods and services.

impose the condition that cardholders pay
back the borrowed money, plus interest, as well as any
additional agreed-upon charges.

Issuers customarily pre-set borrowing limits, based on an individual's credit rating.

Is an electronic banking outlet that allows customers to
complete basic transactions without the aid of a branch
representative or teller.

are used for a variety of applications, though
most commonly are used for credit cards and other
payment cards.

is a prepaid card onto which an employer
loads an employee's wages or salary each payday.

are an alternative to direct deposit or paper
checks.

Use of computers and telecommunications to enable
banking transactions to be done by telephone or computer rather than through human interaction.

Its features include electronic funds transfer for retail
purchases, automatic teller machines (ATMs), and
automatic payroll deposits and bill payments.

is a form of banking in which funds are
transferred through an exchange of electronic signals
rather than through an exchange of cash, checks, or other types of paper documents.

Transfers of funds occur between financial institutions
such as banks and credit unions. They also occur between financial institutions and commercial institutions such as stores

What are the E-Bank services?

A banking facility provided to the customers
through which the customers are able to perform a number of monetary and non-monetary transactions, using the internet, through the bank’s website or application.

Almost all the banks have designed their mobile applications with which you can perform transactions at your fingertips. For this, four things are required – a smartphone, internet, mobile application, and mobile banking service enabled in your bank account.

one of the most common and initial service, provided under e- banking. It is not just a machine with which you can withdraw cash as and when required, but it also allows you to check your account status, transfer fund, deposit fund, changes mobile number, change Debit Card PIN, i.e. Personal Identification Number.

are used in our day to day life so as to perform end number of transactions. also linked to the customer’s bank account and so the customer only needs to swipe the card, in order to make payment at Point of Sale (POS) outlets, online shopping, ATM withdrawal. In this way, the amount is deducted from the customer’s account directly.

is also a payment card which the banks issue to the customers on their request, after checking their credit score and history. It enables the cardholder to borrow funds upto the pre-approved limit and make payment. The limit is granted by the banks which issue the card. The cardholder promises to repay the amount within a
stipulated time, with some charges, for the used of.

refers to the point, in terms of date, time and place (retail outlet) where the customer makes a payment, using a plastic card, for the purchase made or services received.

When money is transferred electronically from one bank to another, it is called as electronic fund transfer. It covers direct debit, direct deposits, wire transfers and more.

The quality of being honest and having strong moral principles; moral uprightness.

is an intentionally deceptive action designed to provide the perpetrator with an unlawful gain or to deny a right to a victim

can be carried out by one individual,
multiple individuals or a business firm as a whole.

It is a slang for a check that cannot be
processed because the account holder has nonsufficient funds (NSF) available for use.

what section state that ; Any person who makes or draws and issues any check to apply on account or for value, knowing at the time of issue that he does not have sufficient funds in or credit with the drawee bank for the payment of such check in full upon its presentment.

The person issued the check with the knowledge that it has insufficient funds

What is the punishment for issuing bounced checks?

how much is the fine for issuing bounced check?

What is Republic Act. No.1405?

An act prohibiting disclosure of or inquiry into, deposits with any banking institution and providing penalty therefore.

what section state that , It is hereby declared to be the policy of the Government to give encouragement to the people to deposit their money in banking institutions and to discourage private hoarding so that the same may be properly utilized by banks in authorized loans to assist in the economic development of the country.

what section state that, All deposits of whatever nature with banks or banking institutions in the Philippines including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are hereby considered
as of an absolutely confidential in nature and may not be examined, inquired or looked into by any person, government official, bureau or office except

which section state that, It is unlawful for any official or employee of a banking institution to disclose to any person other than those mentioned in Section two hereof any information concerning said deposits.

Any violation of this law will subject offender upon conviction, to an imprisonment of not more than 5 years or a fine of not more than 20,000 pesos or both, in the discretion of the court.

What is Republic Act. No. 3591 ?

There is hereby created a Philippine Deposit Insurance
Corporation hereinafter referred to as “Corporation” which shall insure, as provided, the deposits of all banks which are entitled to the benefits of insurance under this Act, and which shall have the powers hereinafter granted.

It is hereby declared to be the policy of the State to strengthen the mandatory deposit insurance coverage system to generate, preserve, maintain faith and confidence in the country’s banking system, and protect it from illegal schemes and machinations.

How much the PDIC provides a maximum deposit insurance coverage ?

PDIC provides a maximum deposit insurance coverage of Php 500,000 per depositor per bank.

when was the Anti-Money Laundering act signed?

when the Anti-money laundering act took effect?

is a crime whereby the proceeds of an
unlawful activity as defined in the AMLA are transacted or attempted to be transacted to make them appear to have originated from legitimate sources.

is converted to clean money.

It is hereby declared the policy of the State to protect and preserve the integrity and confidentiality of bank accounts and to ensure that the
Philippines shall not be used as a money laundering site for the proceeds of any unlawful activity.

Consistent with its foreign policy, the State shall extend
cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed.

PURPOSE of RA 3591

what is the penalty of money laundering