1.

) All departments, bureaus, offices and agencies of the government, that pursuant to law require
or accept the filing of documents, require that documents be created, or retained and/or submitted,
issue permits, licenses or certificates of registration or approval, or provide for the method and
manner of payment or settlement of fees and other obligations to the government, shall do the
following EXCEPT:

a.) accept the creation, filing or retention of such documents in the form of electronic data
messages or electronic documents
b.) issue permits, licenses, or approval in the form of electronic data messages or electronic
documents
c.) require and/or accept payments, and issue receipts acknowledging such payments,
through systems using electronic data messages or electronic documents
d.) reject payments that in the form of data message

Suggested Answer: D
Source: Section 27 of Republic Act No. 8792

PART IV
ELECTRONIC TRANSACTIONS IN GOVERNMENT

SEC. 27. Government Use of Electronic Data Messages, Electronic Documents and Electronic Signatures. -
Notwithstanding any law to the contrary, within two (2) years from the date of the effectivity of this Act, all
departments, bureaus, offices and agencies of the government, as well as all government-owned and-controlled
corporations, that pursuant to law require or accept the filing of documents, require that documents be created, or
retained and/or submitted, issue permits, licenses or certificates of registration or approval, or provide for the method
and manner of payment or settlement of fees and other obligations to the government, shall -

(a) accept the creation, filing or retention of such documents in the form of electronic data
messages or electronic documents;
(b) issue permits, licenses, or approval in the form of electronic data messages or electronic
documents;
(c) require and/or accept payments, and issue receipts acknowledging such payments,
through systems using electronic data messages or electronic documents; or
(d) transact the government business and/or perform governmental functions using electronic
data messages or electronic documents,

2.) Where the law requires a document to be in writing, that requirement is met by an
electronic document if

a.) the said electronic document maintains its integrity and reliability and can be
authenticated so as to be usable for subsequent reference
b.) The electronic document has been changed and altered, apart from the addition of any
endorsement and any authorized change, or any change which arises in the special course
of communication, storage and display
c.) That document is not capable of being displayed to the person to whom it is to be
presented
 d.) There exists a reliable assurance as to the integrity of the document from the time
when it was first generated in its original form

Suggested Answer: A
Source: Section 7 of Republic Act No. 8792
Sec. 7. Legal Recognition of Electronic Documents. – Electronic documents shall have the
legal effect, validity or enforceability as any other document or legal writing, and -
(a) Where the law requires a document to be in writing, that requirement is met by an
electronic document if the said electronic document maintains its integrity and reliability and can
be authenticated so as to be usable for subsequent reference, in that -
(i) The electronic document has remained complete and unaltered, apart from the addition of any
endorsement and any authorized change, or any change which arises in the normal course of
communication, storage and display; and
(ii) The electronic document is reliable in the light of the purpose for which it was generated and in
the light of all the relevant circumstances.

3.) The Corporation, in coordination with the Bangko Sentral ng Pilipinas, may commence the
resolution of a bank under this section upon:

a.) Failure of prompt corrective action as declared by the Monetary Board

b.) Failure to keep and maintain a true and accurate record or statement of its daily
deposit transactions consistent with the standards set by the Bangko Sentral ng Pilipinas
and the Corporation.
c.) Failure to make or publish any such report of condition within such time, as the Board
of Directors may require
d.) Failure to pay the assessment it is required to pay

Suggested Answer: A
Source: Section 11 of Republic Act No. 3591, as amended

A new section entitled Section 11 of the same Act is hereby inserted between Sections 10 and 12 which shall read as
follows:

“BANK RESOLUTION”
“SEC. 11. (a) The Corporation, in coordination with the Bangko Sentral ng Pilipinas, may commence the resolution
of a bank under this section upon:
“(1) Failure of prompt corrective action as declared by the Monetary Board; or
“(2) Request by a bank to be placed under resolution.
“The Corporation shall inform the hank of its eligibility for entry into resolution.

4.) In determining the appropriate resolution method for a bank, the Corporation shall consider the
following EXCEPT:

a.) Fair market value of the assets of the bank, its franchise, as well as the amount of its
liabilities
 b.) Availability of a qualified investor
c.) Management and administration of the bank’s assets, liabilities and records
d.) Interest of the depositing public.

Suggested Answer: C
Source: Section 11 of Republic Act No. 3591, as amended

“(f) In determining the appropriate resolution method for a bank, the Corporation shall consider the:
“(1) Fair market value of the assets of the bank, its franchise, as well as the amount of its liabilities;
“(2) Availability of a qualified investor;
“(3) Least cost to the DIF; and
“(4) Interest of the depositing public.”

5.) All notes, debentures, bonds, or such obligations issued by the Corporation shall be exempt
from taxation both as to principal and interest, and shall be fully guaranteed by the Government of
the Republic of the Philippines. Such guarantee, shall in no case exceed __________ the DIF as
of date of the debt issuance.

a.) 3 times
b.) 2 times
c.) 4 times
d.) 5 times

Suggested Answer: B
Source: Section 19 of RA 3591 accordingly renumbered as Section 24

Section 19 of the same Act is accordingly renumbered as Section 24 and is hereby amended to read as follows:
“ISSUANCE OF BONDS, DEBENTURES
AND OTHER OBLIGATIONS
“SEC. 24. With the approval of the President of the Philippines, upon the recommendation of the Department of
Finance, the Corporation is authorized to issue bonds, debentures, and other obligations, both local or foreign, as
may be necessary for purposes of providing liquidity for settlement of insured deposits in closed banks, to facilitate
the implementation of bank resolution under Section 11 of this Act, as well as for financial assistance as provided
herein: Provided, That the Board of Directors shall determine the interest rates, maturity and other requirements of
said obligations: Provided, further, That the Corporation may provide for appropriate reserves for the redemption or
retirement of said obligation.
“All notes, debentures, bonds, or such obligations issued by the Corporation shall be exempt from taxation both as to
principal and interest, and shall be fully guaranteed by the Government of the Republic of the Philippines. Such
guarantee, which in no case shall exceed two times the DIF as of date of the debt issuance, shall be expressed on the
face thereof.”

6.) Within a period of ___________ from a bank’s entry into resolution, the Corporation, through
the affirmative vote of at least __________ members of the PDIC Board, shall determine whether
the bank may be resolved through the purchase of all its assets and assumption of all its liabilities,
or merger or consolidation with, or its acquisition, by a qualified investor.

a.) 90 days, 5
b.) 60 days, 3
c.) 180 days, 5
 d.) 15 days, 5

Suggested Answer: C
Source: Section 10 renumbered as Section 11 by RA 10846

“(e) Within a period of one hundred eighty (180) days from a bank’s entry into resolution, the Corporation, through
the affirmative vote of at least five (5) members of the PDIC Board, shall determine whether the bank may be resolved
through the purchase of all its assets and assumption of all its liabilities, or merger or consolidation with, or its
acquisition, by a qualified investor.