B 26 What cooperative is composed of natural persons as

members?

NATURAL

PRIMARY

REGULAR

UNION

A 27 An associate who meets the following shall be considered a

regular member.

PATRONIZES THE COOPERATIVE FOR 2 YEARS

MEETS ALL THE MEMBERSHIP REQUIREMENTS

COMPLETE AT LEAST A MAXIMUM OF THE MEMBERSHIP

REQUIREMENTS

PATRONIZES THE COOPERATIVE FOR AT LEAST 2 YEARS

C 28 Membership in a cooperative may be terminated by vote of

the majority for any of the following cases, except:

WHEN A MEMBER HAS NOT PATRONIZED ANY OF THE SERVICES OF

THE COOPERATIVE FOR AN UNREASONABLE PERIOD OF TIME

WHEN A MEMBER HAS ACTED IN VIOLATION OF THE BYLAWS

WHEN A MEMBER HAS FREQUENTLY FAILED TO COMPLY TO HIS

OBLIGATIONS

FOR ANY ACT OR OMISSION INJURIOUS OR PREJUDICIAL TO THE

WELFARE OF THE COOPERATIVE

D 29 Which of the following may not be considered valid grounds

for the termination or membership?

INSANITY OF A MEMBER IN A PRIMARY COOPERATIVE

INSOLVENCY OF A MEMBER IN A SECONDARY COOPERATIVE

DEATH OF A MEMBER IN A PRIMARY COOPERATIVE

DEATH OF A MEMBER IN A TERTIARY COOPERATIVE

D 30 Who has the highest policy-making body of a cooperative?

REPRESENTATIVE ASSEMBLY
B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

COOPERATIVE DEVELOPMENT AUTHORITY

COOPERATIVE UNION

GENERAL ASSEMBLY

D 31 The Authority may suspend or revoke, after due notice and

hearing the certificate of registration of a cooperative
on any of the following grounds, except:

EXISTING FOR ILLEGAL PURPOSE

HAVING OBTAINED ITS REGISTRATION BY FRAUD

WILFUL FAILURE TO OPERATE ON A COOPERATIVE BASIS

VIOLATION OF ANY LAW, REGULATION OR PROVISION OF ITS

BYLAWS

C 32 Which of the following is not one of the capital sources

of cooperatives?

LOANS AND BORROWINGS

REVOLVING CAPITAL

INCOME FROM OPERATIONS

GRANTS FROM ANY LOCAL OR FOREIGN INSTITUTION

B 33 What is the percentage limit on the share capital of a

member in a cooperative?

FIFTEEN PERCENT

TEN PERCENT

TWENTY FIVE PERCENT

THERE IS NO LIMIT ON THE SHARE CAPITAL HOLDINGS

B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

C 34 Which is not a part of the statutory fund?

COMMUNITY DEVELOPMENT FUND

EDUCATION AND TRAINING FUND

PATRONAGE REFUND

OPTIONAL FUND

A 35 It is a fund, for which at least 3% of the net surplus is

allocated.

COMMUNITY DEVELOPMENT FUND

EDUCATION AND TRAINING FUND

PATRONAGE REFUND

OPTIONAL FUND

A 36 What is the percentage allocated to the Optional Fund?

NOT EXCEEDING 7%

NOT EXCEEDING 10%

AT LEAST 3%

THE REMAINING NET SURPLUS

A 37 What is the percentage allocated to the education and

Training Fund from the net surplus?

9%

AT LEAST 10%

12%

THE REMAINING NET SURPLUS

B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

A 38 From what fund shall a non-member patron receive his

patronage refund?

GENERAL FUND

PATRONAGE REFUND

OPTIONAL FUND

INTEREST ON SHARE CAPITAL

C 39 The order of dissolution of cooperatives where creditors

are affected starts with:

CLAIM OF CREDITORS

NUMBER OF MEMBERS

ASSETS AND LIABILITIES

NATURE AND EXTEND OF THE INTERESTS OF THE MEMBERS

D 40 Which of the following grounds lead to the involuntary

dissolution of a cooperative by the order of a competent
court?

DEATH OF A MEMBER

EXISTING FOR AN ILLEGAL PURPOSE

FAILURE TO OPERATE ON A COOPERATIVE BASIS

INSOLVENCY

D 41 The board of directors shall issue revolving capital

certificates with the following, except:

AMOUNT

SERIAL NUMBER
B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

RATE OF INTEREST

DATE OF ISSUANCE OF REGISTRATION

A 42 It refers to the body entrusted with specific functions

and liabilities under the Bylaws or resolution of the
general assembly or board of directors.

COMMITTEE

REPRESENTATIVE ASSEMBLY

BOARD OF DIRECTORS

OFFICERS OF THE COOPERATIVE

D 43 It is cooperative whose purpose is to procure and

distribute commodities to members and non-members.

MARKETING

DAIRY

PRODUCERS

CONSUMERS

C 44 It is a fund set aside for futures use for land and

building to members and non-members.

RESERVE FUND

PATRONAGE REFUND

OPTIONAL FUND

GENERAL FUND

B 45 What is the government agency in charge of the

registration and regulation of cooperatives?
B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

SEC

CDA

BIR

PICPA

D 46 It means the operative act granting juridical personality

to a proposed cooperative evidenced by a certificate of
registration.

CDA

BYLAWS

UNIVERSALLY ACCEPTED PRINCIPLES

REGISTRATION

A 47 Which is an aim of cooperatives?

TO PROVIDE OPTIMUM SOCIAL AND ECONOMIC BENEFITS TO ITS

MEMBERS

TO INSURE AGAINST LOSSES OF THE MEMBERS

TO ENCOURAGE AMONG MEMBERS SYSTEMATIC PRODUCTION AND

MARKETING

TO DEVELOP EXPERTISE AND SKILLS AMONG ITS MEMBERS

D 48 It means allowing a delegate of a cooperative to represent

or vote in behalf of another delegate of the same
cooperative.

VOTING SYSTEM

VOTING
B 26 What cooperative is composed of natural persons as
members?

NATURAL

PRIMARY

REGULAR

UNION

VOTING INCENTIVES

VOTING BY PROXY

D 49 In case of these cooperatives, a quorum consists of 5% of

all the members entitled to vote.

SPECIAL COOPERATIVES

COOPERATIVE BANKS

LABORATORY COOPERATIVES

ELECTRIC COOPERATIVES

B 50 It is a cooperative, whose quorum is one-half plus one of

all the members in good standing.

LABORATORY COOPERATIVE

COOPERATIVE BANK

FISHERMEN COOPERATIVE

ELECTRIC COOPERATIVE