Name of Student: Taghap, Jeanife M. Date: September 1, 2014 MONETARY POLICIES AND CENTRAL BANKING QUIZ NO. 2 Instructions: Please fill in your answers in this Quiz Sheet, save the file as “MPCB Quiz No. 2” and submit a soft copy to my e-mail address: vjruado@yahoo with the e-mail’s subject as “MPCB Quiz No. 2”on or before 1:30PM today, September 1, 2014, Monday. Please follow instructions carefully. 1.) Of the five members of the Bangko Sentral Monetary Board who shall come from the private sector, how many members first appointed under the provision of Article II Section 6 (c) of The New Central Bank Act shall have a term of three (3) years? ANSWER: The five (5) members will first appointed under the provision Article II Section 6 and the three members shall have a term of six (6) years, and the other two is three (3) years. 2.) What is the minimum age requirement for you to qualify as the Governor of the Bangko Sentral Monetary Board? ANSWER: The minimum age requirement for me to qualify as the Governor of the Banko Sentral Monetary Board at least is forty (40) years of age. 3.) Besides the age requirement, what are the other five (5) qualifications for you to be able to be a member of the Bangko Sentral Monetary Board? ANSWERS: These are the other requirements to be qualified as a member of the Bangko Sentral Monetary Board; a.) Good Moral Character b.) Unquestionable Integrity c.) Known probity and patriotism d.)With recognized competence in social and e.) economic disciplines. 4.) What is the Republic Act Number of The New Central Bank Act? ANSWER: Republic Act No. 7653 is the new Central Bank Act as of today. 5.) What is the minimum age requirement for you to qualify as a member of the Bangko Sentral Monetary Board? ANSWER: The minimum age requirement for me to be qualifying as a member of the Bangko Sentral Monetary Board is I’m at least thirty-five (35) years of age. 6.) What do you call the independent central monetary authority which shall be maintained by the State and shall function and operate as an independent and accountable body corporate in the discharge of its mandated responsibilities concerning money, banking and credit? ANSWER: It is called as Declaration of Policy under the Article 1, Section 1. 7.) How many members comprises the Bangko Sentral Monetary Board? ANSWER: Composed of seven (7) members that appointed by the President of the Philippines. 8.) The Bangko Sentral Monetary Board shall issue rules and regulations it considers necessary for the effective discharge of the responsibilities and exercise of the powers vested upon the Monetary Board and the Bangko Sentral. The rules and regulations issued shall be reported to the President and the Congress within how many days from the date of their issuance? ANSWER: The rules and regulations issued shall be reported to the President and the Congress within fifteen (15) days from the date their issuance. 9.) If the designated Cabinet Member is unable to attend a meeting of the Board, who shall attend as his alternate? ANSWER: If the designated Cabinet Member is unable to attend a meeting of the Board he must designate an Undersecretary in his department to attend and as his alternate. 10.) Where is the principal place of business of the Bangko Sentral ng Pilipinas? ANSWER: The principal place of business of the Bangko Sentral ng Pilipinas is in Metro Manila. 11.) The President of the Philippines may remove any member of the Bangko Sentral Monetary Board for four (4) reasons. Please enumerate them. ANSWERS: These are the following reasons; a.) If the member is subsequently disqualified under the provisions of Section 8 of this Act. b.) If he is physically or mentally incapacity that he cannot properly discharge his duties and responsibility. c.) If the member is guilty on acts or operations w/c are of fraudulent or illegal character or w/c are manifestly opposed to the aims and interest of the Bangko Sentral; or d.) If the member is no longer possess the qualifications specified in Section 8 of this Act. 12.) The Bangko Sentral ng Pilipinas Monetary Board shall meet at least how many times a week? ANSWER: The Monetary Board shall meet at least once a week. 13.) How much shall be the capital of the Bangko Sentral ng Pilipinas? ANSWER: The capital of the Bangko Sentral ng Pilipinas must be fifty billion pesos (50,000,000,000.00). 14.) How much capital of the Bangko Sentral ng Pilipinas shall be paid for by the Government within a period of two (2) years from the effectivity of The New Central Bank? ANSWER: The BSP shall be paid of ten billion pesos (10,000,000,000.00) with in a period of two (2) years. 15.)What is the primary objective of the Bangko Sentral ng Pilipinas? ANSWER: The primary objective of the Bangko Sentral ng Pilipinas is to maintain price stability conducive to a balanced and sustainable growth of the economy. 16.) The presence of how many members of the Board shall constitute a quorum (provided that in all cases the Governor or his duly designated alternate shall be among those present members)? ANSWER: There must be four (4) members that shall constitute a quorum. 17.) How much capital of the Bangko Sentral ng Pilipinas shall be fully paid for by the Government upon the affectivity of The New Central Bank Act? ANSWER: The capital that must fully paid by the government is ten billion pesos (10,000,000,000.00) upon the affectivity of the New Central Bank Act.
Posted on: Mon, 01 Sep 2014 05:08:48 +0000
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