Bukidnon Faith Christian School Inc.

Malingon, Bagontaas, Valencia City

REMOVAL EXAM
Grade 9 Paul & Stephen

Test I True or False

Write HAPPY if the statement is true and SAD if otherwise. Strictly no erasures. (2pts
each)
_______1. Money is given to sellers in exchange for their product or service. False
_______2. As a medium of exchange money retains its value over time. True
_______3. Before the invention of money, barter system was a widespread. True
_______4. An agency that implements monetary policy is the Department of Finance. False
_______5. In order to stabilize the overall level of output and price the money supply should be
controlled. True
_______6. The Monetary Board in the Philippines is composed of 10 members. True
_______7. The minimum interest rate set by the BSP for lending to banks is 15%. True
_______8. Monetary Policy controls the money supply. True
_______9. The individual who spend less than their income is called borrowers. True
_______10. Financial system is consist of Financial institutions such as financial markets and
financial intermediaries. False.
_______11. Bonds represents a share of ownership and a claim of corporations profit. False
_______12. Financial intermediaries are financial institutions through which savers can directly
provide funds to borrowers. False
_______13. The insurance Commissions primary aim is the depositors protection through
provision of insurance coverage to the depositing public. False
_______14. The SEC strives to maintain public confidence in Philippine banks. True
_______15. The maximum amount of insurance PDIC can give to the depositor for its deposits is
600,000 pesos. False
_______16. The World Bank is the only bank/institution that can lend money to the Philippines
to improve the fundamentals of its economy. False
_______17. Amado Tetangco Jr. is the Tagapangasiwa ng Bangko Sentral ng Pilipinas. False
_______18. There are 4 monetary tools used to control money supply. False
_______19. There are only 5 characteristics of money. False
_______20. Banks act as mechanisms that direct one persons saving into another persons
investment. True

Theres nothing wrong with being honest, as long as you have the heart to
say whats on your mind.
-ljchome