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PDIC Law Quiz

Created by

@GrandTeal

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Questions and Answers

What is the purpose of the PDIC law?

To promote investment in the banking sector

To insure the deposits of all banks and provide permanent deposit insurance coverage for the depositing public (correct)

To provide financial assistance to struggling banks

To regulate the operations of all banks in the country

What is the maximum deposit insurance coverage provided by PDIC per depositor per bank?

PhP250,000

PhP750,000

PhP1,000,000

PhP500,000 (correct)

Apart from being a deposit insurer, what is another role of PDIC?

Legal Counsel for Banks

Co-Regulator of Banks (correct)

Financial Auditor for Banks

Investment Advisor for Banks

How does PDIC primarily build up the Deposit Insurance Fund (DIF)?

<p>Through assessments of banks at an annual flat rate of 1/5 of 1% of their total deposit liabilities</p> Signup and view all the answers

When was PDIC created?

<p>1963</p> Signup and view all the answers

Study Notes

Purpose of PDIC Law

To provide depositor protection and maintain financial stability by providing deposit insurance coverage to depositors

Deposit Insurance Coverage

Maximum deposit insurance coverage provided by PDIC per depositor per bank: up to ₱500,000

Roles of PDIC

Besides being a deposit insurer, PDIC also acts as a receiver or liquidator of banks

Building the Deposit Insurance Fund (DIF)

PDIC primarily builds up the DIF through premiums paid by participating banks

History of PDIC

PDIC was created on June 22, 1963

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Description

Test your knowledge of the PDIC Law with this quiz. Explore the purpose of the law, the main functions of PDIC, and key concepts related to deposit insurance coverage. Ideal for individuals seeking to enhance their understanding of financial regulations.