Discover Your Understanding of GSIS
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Discover Your Understanding of GSIS

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Questions and Answers

Which government agency is responsible for the Social Security System in the Philippines?

  • Securities and Exchange Commission (SEC)
  • Cooperative Development Authority (CDA)
  • Department of Labor and Employment (DOLE)
  • Social Security System (SSS) (correct)

    • What is the main purpose of the Social Security System in the Philippines?

  • To provide business loans
  • To provide retirement benefits (correct)
  • To provide healthcare benefits
  • To provide housing loans

    • Which law established the Social Security System in 1954?

  • RA 11199
  • RA 8282
  • Book V of the Labor Code of the Philippines
  • RA 1161 (correct)

    • What is the maximum loan term for SSS housing loans for members aged 60 years at the time of application?

    <p>5 years</p> Signup and view all the answers

    Who is eligible for the Direct Housing Loan Facility for Workers' Organization Members?

    <p>Members of trade unions</p> Signup and view all the answers

    What is the minimum number of continuous contributions required for SSS housing loan eligibility?

    <p>24 months</p> Signup and view all the answers

    Can the spouse of an existing borrower qualify for an SSS housing loan?

    <p>Yes, if the loan of the existing borrower was obtained prior to the date of marriage and is not delinquent</p> Signup and view all the answers

    Which government agency is responsible for providing social housing programs for low-income groups?

    <p>National Housing Authority (NHA)</p> Signup and view all the answers

    Which organization is focused on providing housing loans and financing for low-income families and informal settlers?

    <p>Social Housing Finance Corporation (SHFC)</p> Signup and view all the answers

    What is the primary focus of the Government Service Insurance System (GSIS) in terms of benefits for its government-worker members?

    <p>Compulsory life insurance</p> Signup and view all the answers

    What is the purpose of the Ginhawa for All Housing Account Restructuring and Condonation Program offered by GSIS?

    <p>To waive penalties and reduce interest on housing accounts</p> Signup and view all the answers

    Under the Ginhawa For All Lease with Option to Buy (GFAL LWOB) Program, who is given priority to lease the housing units?

    <p>Current occupants of the housing units</p> Signup and view all the answers

    What is the main function of the National Home Mortgage Finance Corporation (NHMFC)?

    <p>To increase the availability of affordable housing finance</p> Signup and view all the answers

    What is the primary investment offered by the Home Development Mutual Fund (HDMF)?

    <p>Mutual provident savings system</p> Signup and view all the answers

    Which of the following is an eligible purpose for an SSS housing loan?

    <p>To construct a new house</p> Signup and view all the answers

    Who is eligible to borrow an SSS housing loan?

    <p>A certified Overseas Filipino Worker</p> Signup and view all the answers

    What are the eligibility requirements for an OFW member to borrow an SSS housing loan?

    <p>Being below 60 years old</p> Signup and view all the answers

    What is the purpose of the House Repair/Improvement Loan?

    <p>To upgrade the aesthetic value of a home</p> Signup and view all the answers

    What are the allowable purposes for the House Repair/Improvement Loan?

    <p>Major repairs for dilapidated housing units</p> Signup and view all the answers

    What is the Assumption of Mortgage program of the SSS?

    <p>A program for assuming the balance of an existing SSS housing loan</p> Signup and view all the answers

    What are the eligibility requirements for the Assumption of Mortgage program?

    <p>Having an existing SSS housing loan</p> Signup and view all the answers

    Which government agency implements the Community Mortgage Program (CMP)?

    <p>Social Housing Finance Corporation (SHFC)</p> Signup and view all the answers

    What is the primary objective of the Community Mortgage Program (CMP)?

    <p>To assist residents of blighted or depressed areas to own the lots they occupy</p> Signup and view all the answers

    Which program aims to provide low-income families in key urban areas affordable houses?

    <p>Abot Kaya Pabahay Fund – Development Loan Program (AKPF-DLP)</p> Signup and view all the answers

    What is the budget allocated for the High Density Housing (HDH) program?

    <p>P50 billion for five (5) years</p> Signup and view all the answers

    Which program follows the Sharia Law to provide appropriate financial aid to Filipino Muslims?

    <p>Islamic Financing Program (IFP)</p> Signup and view all the answers

    Who is responsible for community profiling to ensure eligible candidates receive housing assistance under the Islamic Financing Program (IFP)?

    <p>Local municipality</p> Signup and view all the answers

    What is the loanable amount for the Lot Acquisition package under the Islamic Financing Program (IFP)?

    <p>PhP 100,000</p> Signup and view all the answers

    What is the monthly amortization for the House Construction package under the Islamic Financing Program (IFP)?

    <p>PhP 1,500.00</p> Signup and view all the answers

    What is the total package amount for the Islamic Financing Program (IFP)?

    <p>PhP 250,000</p> Signup and view all the answers

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