Dela Cruz, Sammylyn R

1. What is the government instrumental created in 1963 by virtue of Republic Act 3591 to insure the
deposits of all banks entitled to the benefits of Insurance and considered as an attached agency of the
Department of Finance
C. Philippine Deposit Insurance Corporation (PDIC)
2. Under the amendment to PDIC Charter, may PDIC pay the insured deposits of a depositor without
netting out depositor loan obligation with the closed bank?
D. Yes even based on evidence of deposits and not on the closed bank's records alone.
3. May PDIC proceed directly to liquidation of a closed bank even without undergoing 90-day receiving
period?
C. Yes, because it would enhance the recovery rate for creditors of the bank.
4. Which of the following deposits is not insured by PDIC?

E. Telegraphic notes or Telegram notes

5. Which of the following is insured by PDIC?

A. Demand of Checking Account
6. Which of the following is insured by PDiC?
A. Savings Deposits
7. Which of the following deposits is not insured by PDIC?
C. Bank in Japan Bank Tokyo Branch
8. Which of the following deposits is insured by PDIC?
A. Deposits that are funded.
9. What is the possible maximum deposit insurance coverage if a depositor has several valid single
accounts in a closed bank?
B. P500, 000
10. What is the possible maximum deposit insurance coverage if a depositor has several valid single
accounts and joint accounts in a closed bank?
A. P1, 000,000
11. Angel Locsin has the following four deposit accounts in a closed bank BDO:
Angel Locsin, savings deposit BDO-Lipa City Branch P200, 000
Kim Domingo, for the account of Angel Locsin, Time Deposit BDO-Manila City Branch 100,000
Andrea Torres In trust for Angel Locsin, Savings Deposit-BDO Taguig City Branch 300,000
Angel Locsin's Business (Sole Proprietorship)-Checking Account-BDO Pasay City Branch 600,000
What is the maximum deposit coverage by PDIC in so far Angel Locsin is concerned?
C. P500, 000
Single Accounts of Angel

Savings Deposit 200,000

Checking Account 600,000

Time Deposit 100,000

Savings Deposit 300,000

1, 2000,000

12. Ellen Adarna has the following deposit account in a closed bank (BDO):
Ellen Adarna and Jhon Lloyd Cruz savings deposit-BDO Lipa City Branch P600, 000
Ellen Adarna and Tom Cruz time deposit-BDO Manila City Branch 800,000
Ellen Adarna and Mark Cruz checking account-BDO Pasay City Branch 900,000
What is the maximum deposit insurance coverage by PDIC in so Ellen Adarna is concerned?

Joints account of Ellen Insured Portion (500,000/2)

C. P500, 000
Savings Deposit 600,000 Saving Deposit 250,000
Time Deposit 800,000 Time Deposits 250,000
Checking Account 900,000 Checking Account 250,000
2,300,000 500,000

13. Kim Domingo has the following deposit accounts in a closed bank (BDO):
Kim Domingo’s Modeling business (Sole Proprietorship) Checking account- BDO Pasay City Branch
P300, 000
Kim Domingo Savings deposit- BDO Taguig City Branch 400,000
Kim Domingo and John Santos time deposit - BDO Manila City Branch 600,000
Kim Domingo and Rey Langit savings deposit - BDO Lipa City Branch 800,000
What is the maximum deposit insurance coverage by PDIC in so Kim Domingo is concerned?
A. P1, 000,000
14. Colleen Garcia has the following deposit accounts in a closed bank (BDO):
Colleen Garcia’s modeling business (Sole Proprietorship) Checking account- BDO Pasay City Branch P200,
000
Colleen Garcia Savings deposit- BDO Taguig City Branch 100,000
Colleen Garcia and Billy Crawford time deposit - BDO Manila City Branch 300,000
Colleen Garcia and Juan Pedro and Rex Juan and James Reid Saving deposit- BDO Lipa City Branch
600,000
What is the maximum deposit insurance coverage by PDIC in so Colleen Garcia is concerned?
D. P575, 000
15. Ana is a partner of ABC Partnership. She is also a stockholder of Ana Corporation; Ana has the
following deposit accounts in a closed bank (BDO):
Ana's business (Sole Proprietorship) Checking Account - BDO Pasig City Branch P350, 000
Ana's Saving Deposit BDO- Taguig City Branch 400,000
Ana and Bea and Carla and Dana Time Deposit - BDO Manila City Branch 600,000
Ana and ABC Partnership Checking Account - Pasay City Branch 500,000

Ana and Ana Corporation Checking Account- BDO Makati City Branch
200,000
Ana’s loan payable to BDO- Quezon City Branch (100,000)
What is the maximum deposit insurance coverage by PDIC in so far as Ana is concerned?
B. P625, 000
16. A maintained the following deposits at BPI Bank:
600,000 - Savings deposit in the name of A and/or B
200,000 - Time deposit in the name of ABC Partnership
300,000 - Current account in the name of A
How much can A personally recover from PDIC if BPI was liquidated by BSP?
C.P550,000
17. In case of joint account between juridical person and a natural person, who shall be entitled to the
maximum insured deposit of 500,000 in such joint account?
A. Juridical Person

18. What is the perspective period for depositors to file their deposit insurance claims to PDIC from date
of takeover by PDIC of closed bank?

A. within 2 years from PDIC's takeover of the closed bank.

19. As a general rule, what is the threshold amount of the bank to be required to file deposit insurance
claims to PDIC?
A. Balance more than 100,000
20. The followings are who are required to file the deposit insurance claims to PDIC in order to recover
their claims from a closed bank, except

F. Depositors with accopunt balamces of less than Php100, 000 whp have updated addresses in the bank
recorde or who have updated their addresses through the Mailing Address Update Form (MAUF) issued
by the PDIC

21. What is the mode of payment by PDIC of claims of depositors from closed bank?

D. Both A and B
22. What is the maximum period for payment by PDIC to depositors of their claims from a closed bank in
order not to make PDIC's officer liable for failure to pay due to grave abuse of discretion, gross
negligence, bad faith or malice?
C. within 6 months from the date of filling of deposit insurance claim to PDIC
23. What is the effect of payment by PDIC if insured deposits to depositors?
B. PDIC shall be legally subrogated to all rights depositor against the closed bank to the extent of such
payment
24. Under Republic Act No.1405, what is the nature of bank deposits and investment in government
bonds?
A. As a general rule, they are absolutely confidential in nature.

25. Under Republic Act No.1405, the following instruments are considered absolutely confidential in
nature, except
E. Money market placement or Telegraphic Notes or Telegram now
26. They refer to money or funds placed with a bank that can be withdrawn on the depositor's order or
demand
A. Deposits

Solution in 13-16

13.

SOLO ACCOUNT OF KIM DOMINGO JOINT ACCOUNT OF KIM DOMINGO

Checking Account 300, 000 Time Deposits 600, 000

Savings Deposit 400, 000 Savings Deposits 800, 000
600, 000 1, 400, 000
Insured Deposits 500, 000
= 500, 000 + 500, 000= 1, 000, 000 Insured Deposits
Time Deposits 500, 000 / 2= 250, 000
A. 1, 000, 000 answer Savings Deposits 500, 000 / 2= 250, 000
500, 000
14.
SOLO ACCOUNTS OF COLLEENS JOINT ACCOUNTS OF COLLEENS

Checking Accounts 200, 000 Time Deposits 300, 000

Savings Deposits 100, 000 Savings Deposit 600, 000
Insured 300, 000 900, 00

Insured Deposits
Time Deposits 300, 000 / 2 = 150, 000
300, 000 + 275, 000 = 575, 000 Savings Deposits 500, 000 / 4= 125, 000
275, 000
D. 575, 000 Answers

15. SOLO ACCOUNTS OF ANA JOINT ACCOUNTS OF ANA

CHECKING ACCOUNTS 350, 000 TIME DEPOSITS 600, 000

SAVINGS DEPOSITS 400, 000 CHECKING ACCOUNT 500, 000
750, 000 CHECKING ACCOUNT 200, 000
INSURED DEPOSITS 500, 000 1, 300, 000
INSURED DEPOSITS
TIME DEPOSITS 500, 000 / 4 = 125, 000
CHECKING ACCOUNT 0
CHECKING ACCOUNT 0
= 125, 000
500, 000 + 125, 000 = 625, 000
B. 625, 000

16.
SOLO ACCOUNTS OF (A) JOINT ACCOUNTS OF (A)

CURRENT ACCOUNT OF A 300, 000 SAVINGS DEPOSITS 600, 000

TIME DEPOSITS 200, 000

INSURES DEPOSITS
SAVINGS DEPOSITS 500, 000/2= 250, 000
TIME DEPOISTS 0
= 250, 000
300, 000 + 250, 000 = 550, 000
C. 550, 000 ANSWERS