Question51

Cybersecurity concerns continue to confront financial institutions domestically and internationally.

Select one:

True

False

Question52

Closed-end funds repurchase (redeem) the shares they sold.

Select one:

True

False

Question53

An affiliate is an entity linked directly or indirectly to a bank by means of ownership, control or power to vote of at least 30 per cent of the outstanding voting stock.

Select one:

True

False

Question54

It conducts research on insurance issues and participates in legislative discussions.

Answer:

Question55

The BSP examines the books of every bank once every 12 months, and at such other times as the Monetary Board may deem expedient. An interval of at least 12 months is required between annual examinations.

Select one:

True

False

Question56

This process is beneficial to the mortgage originators that want to focus on origination or servicing of mortgages and not on financing them.

Answer:

Question57

Erring directors and officers will be included in the list of persons disqualified by the Monetary Board from holding any position in any bank or financial institution.

Select one:

True

False

Question58

ThePDICmay also examine banks, with the prior approval of the Monetary Board, to determine whether they are engaging in unsafe and unsound banking practices.

Select one:

True

False

Question59

An applicant for any insurance coverage will not undergo any screening process.

Select one:

True

False

Question60

Mutual funds are required to provide a prospectus with information about their objectives and its management.

Select one:

True

False

Question62

The National Association of Insurance Commissioners (NAIC) facilitates cooperation among the various state agencies whenever an issue is a national concern.

Select one:

True

False

Question63

The SEC does not require that a majority of the directors be independent.

Select one:

True

False

Question64

This type of insurance provides income for the heirs of the deceased.

Answer:

Question65

Insurance premiums and fees collected from other services by insurance companies are invested in order to pay insurance claims.

Select one:

True

False

Question66

Mutual Funds are commonly classified as stock mutual funds, bond mutual funds, or money market mutual funds, depending on the types of securities in which they invest.

Select one:

True

False

Question67

It acts as an intermediary between a corporation issuing securities and investors by providing various services.

Answer:

Question68

Investors who purchased shares of closed-end funds can sell the shares on a stock exchange in the secondary market.

Select one:

True

False

Question69

A mutual fund is usually run by an investment company whose owners are different from shareholders in the mutual funds.

Select one:

True

False