Midterms_BanFin_Quiz2

A depositor owns a joint account with two others totaling P750,000. How much of this account is insured by PDIC?

• P1,000,000

• P250,000

• P500,000

• P750,000

A businessman has several accounts under different business names in the same bank. How will PDIC insure these deposits?

• PDIC does not insure business accounts

• Only one account is insured

• All accounts are combined and insured up to P500,000

• PDIC insures each account separately

If a depositor has P200,000 in one bank and P100,000 in another PDIC-insured bank, how much total deposit insurance does the depositor have?

• P500,000

• P300,000

• P250,000

• P200,000

What types of accounts are covered by PDIC insurance?

• Only accounts in rural banks

• Only time deposits

• All deposit accounts, including savings, time deposits, and current accounts

• Only savings accounts

If a PDIC-insured bank closes due to bankruptcy, who is responsible for reimbursing the insured deposits?

• The Philippine Deposit Insurance Corporation (PDIC)

• The Philippine government

• The Bangko Sentral ng Pilipinas (BSP)

• The bank’s shareholders

Carlos has multiple accounts in the same bank totaling P300,000. How much of his deposits are insured by PDIC?

• P100,000

• P200,000

• P150,000

• P300,000

An overseas Filipino worker (OFW) has a foreign currency deposit of $4,000 in a PDIC-insured bank. Is this deposit insured by PDIC?

• PDIC does not insure deposits of OFWs

• Only a portion is insured

• No, only peso deposits are insured

• Yes, foreign currency deposits are insured

A depositor has P250,000 in a time deposit account. If the bank fails, what will PDIC do?

• Refer the depositor to the liquidation process for recovery

• Insure the amount up to P250,000

• Refund only half of the time deposit

• Reimburse the full amount immediately

In the event of a bank closure, how long does it typically take for PDIC to pay depositors their insured amounts?

• Within 3 months

• Within 6 months

• Within a year

• Within 7 days

If a depositor’s total deposit in a closed PDIC-insured bank exceeds P500,000, what will happen to the excess amount?

• PDIC guarantees full reimbursement for all amounts

• The excess will be refunded immediately by PDIC

• The excess amount will not be insured

• The depositor will automatically receive the excess