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May 2019 Exam Recap

1. The exam was composed of 100 theory questions evenly distributed among
the topics covered. Strictly speaking, the Test of Specification was not
followed but close enough.

2. Most of the questions are from multiple choice questions of the law review.

3. For the next batches, please prioritize the review of the 1,200+ CPAR Pre
week Compilation of Atty. Laco, iCPA #cpareviewstarter and the iCPA test

4. Topics of interest: Corporation Law, Cooperatives, Special Laws.

5. RFBT strategy is “padamihan ng nasagutan”

6. VIP Premium iCPA Customers: The reconstructed May 2019 exam is now
in your inbox.

150 - Hours RFBT Study Plan

Number of Date Date
TOPIC Hours Started Ended
(New) Cooperatives 30
Organization and registration 3
Administration 3
Responsibilities, rights, and privileges 3
Membership, rights, and obligations 3
Capital property of funds 3
Audit, inquiry and member’s right to examine 3
Allocation and distribution of funds 3
Types and categories of cooperatives 3
Merger and consolidation of cooperatives 3
Dissolution of cooperatives 3

(New) AMLA Law 13

Unlawful activities 3
Covered institutions and transactions 2
Suspicious transactions 2
Record keeping requirements 2
Powers of AMLC 2
Reporting requirements 2

(New) PDIC Law 6

Insurable deposits 2
Maximum liability 2
Requirements of claims 2

(New) Secrecy of Bank Deposits and Unclaimed Balances

Law 2

(New) Intellectual Property Law 6

Patents 2
Trademark 2
Copyright 2

Number of Date Date

TOPIC Hours Started Ended
(New) Data Privacy Act 10
Provisions and powers of the National Privacy Commission 2
Processing and security of personal information 2
Rights of the data subject 2
Accountability for transfer of information 2
Penalties for violation of law 2

(New) Electronic Commerce 6

General provisions 2
Legal recognition and communication of electronic data
messages and electronic documents 2
Electronic commerce in the carriage of goods and electronic
transactions 2
(New) Bouncing checks 8
Checks without insufficient funds 2
Evidence of knowledge of insufficient funds 2
Duty of drawable 2
Credit construed 2

Obligations 20
Sources 4
Kinds of obligations 4
Specific circumstances 4
Duties of obligor 4
Extinguishment of obligations 4

Contracts 27
Classification 3
Elements and stages 3
Freedom from contract vs. limitation 3
Persons Bound 3
Consent and its requisites 3
Object and cause of contracts 3
Formalities of contract 3
Reformation and interpretation of contracts 3
Defective contracts 3

Number of Date Date

TOPIC Hours Started Ended
Contract of Sales 10
Nature, forms, and requisites 3
Earnest money from option money 3
Rights and obligations of vendor and Vendee 3
Warranties to consumer laws 3
Instalment sales, right and remedies of parties 3

Negotiable instruments 12
Negotiability of instruments 2
Abnormal negotiable instruments 2
Incomplete but undelivered instruments 2
Incomplete but delivered instruments 2
Complete but undelivered instruments 2
Instruments with forged signatures 2

Corporation 34
Nature and classes of the corporation 2
Incorporation and organization of private corporation 2
Powers of a corporation 2
Board of Directors and Corporate Officers 2
Classes of stock 2
Powers, duties, rights, and obligations of stockholders 2
The majority and minority control 2
Bylaws 2
Meetings 2
Corporate reorganization 2
Non-stock corporation 2
Modes of dissolution and liquidation 2
Foreign corporations 2
Rights of foreign corporations 2
Suspension and revocation of the license
Kinds and availability of books 2
Securities Regulations Code 2

Partnership 10
Distinguish from corporation 1
Elements and kinds 1
Formalities required 1
Rules of management 1
Distribution of profits and losses 3
Sharing of losses and liabilities 1
Modes and retirement requirements 1
Limited partnership 1

Number of Date Date

TOPIC Hours Started Ended

Pledge, real and chattel mortgage 5

Requisites 1
Requirements to bind parties and third persons 1
Obligations and rights of pledgor and pledge 1
Obligations and rights of mortgagor and mortgagee effect of 1
pactum commissorium
Modes of extinguishment 1
(New) Securities Regulation Code
(New) Ease of Doing Business
(New) Code of Corporate Governance
(New) Securities Regulation Code, Rule 68
(New) SEC Circulars and Issuances