Podcast
Questions and Answers
What are the primary functions of the PDIC as stated in the text?
What are the primary functions of the PDIC as stated in the text?
- Providing loans to individuals
- Issuing corporate bonds
- Regulating the stock market
- Insuring deposits with covered institutions (correct)
According to the PDIC law, what is considered a deposit?
According to the PDIC law, what is considered a deposit?
- Unpaid balance of money received by a bank in the usual course of business (correct)
- Credit card debt owed to a bank
- Amounts owed to a bank for mortgage loans
- Unpaid balance of money received by a bank outside the Philippines
Which of the following obligations of a bank is NOT considered a deposit under the PDIC law?
Which of the following obligations of a bank is NOT considered a deposit under the PDIC law?
- Savings account balance
- Loan taken from another financial institution (correct)
- Checking account balance payable at an office outside the Philippines
- Time deposit amount
In the context of deposit insurance coverage, what is excluded from being considered a deposit according to the PDIC law?
In the context of deposit insurance coverage, what is excluded from being considered a deposit according to the PDIC law?
What does the PDIC law require regarding deposit liabilities of a bank?
What does the PDIC law require regarding deposit liabilities of a bank?
What evidence is required under the PDIC law to prove a deposit?
What evidence is required under the PDIC law to prove a deposit?
What happens to any excess in the insured amount of P500,000.00?
What happens to any excess in the insured amount of P500,000.00?
What obligation arises out of the Truth in Lending Act?
What obligation arises out of the Truth in Lending Act?
In what situation does the six-month period for claims not apply under PDIC regulations?
In what situation does the six-month period for claims not apply under PDIC regulations?
What does the Truth in Lending Act aim to prevent?
What does the Truth in Lending Act aim to prevent?
What is the consequence of an uninsured deposit obligation?
What is the consequence of an uninsured deposit obligation?
Under PDIC regulations, what should a creditor provide prior to extending credit according to the Truth in Lending Act?
Under PDIC regulations, what should a creditor provide prior to extending credit according to the Truth in Lending Act?
What type of accounts or transactions are excluded from deposit insurance coverage under the PDIC law?
What type of accounts or transactions are excluded from deposit insurance coverage under the PDIC law?
Which of the following is NOT an excluded deposit under the PDIC law?
Which of the following is NOT an excluded deposit under the PDIC law?
According to the PDIC law, which deposits may be insured if approved by the Board of Directors?
According to the PDIC law, which deposits may be insured if approved by the Board of Directors?
Which deposits are considered excluded from PDIC insurance due to their association with unsafe banking practices?
Which deposits are considered excluded from PDIC insurance due to their association with unsafe banking practices?
Under the PDIC law, what type of deposit liabilities are considered for insurance coverage if approved by the Board of Directors?
Under the PDIC law, what type of deposit liabilities are considered for insurance coverage if approved by the Board of Directors?
Which of the following is NOT a reason for exclusion from deposit insurance coverage under the PDIC law?
Which of the following is NOT a reason for exclusion from deposit insurance coverage under the PDIC law?
