RFBT a.

Yes, even without the

stipulation
1. Which of the following is not a b. Yes, only if there is
characteristic of sale? stipulation
c. No, even if there is
a. Bilateral stipulation
b. Gratuitous d. No, unless there is
c. Consensual stipulation
d. Nominate
6. Ann borrowed P25,000 from
2. A characteristic of a Contract of Julie and delivered her ring to
Sale which involves exchange of Chace as security. If the
value accessory contract is made
orally it is a
a. Commutative
b. Nominate a. Chattel Mortgage
c. Consensual b. Pledge
d. Nominate c. Real Mortgage
d. Antichresis
3. Bilateral The debtor-mortgagor
may sell the mortgaged
property in third person 7. The buyer has a right to the
fruit of the thing from the time
a. If there is no prohibition in a. Thing is delivered
the contract. b. Contract is perfected
b. Even if there is a stipulation c. Obligation to deliver the
in the contract forbidding the thing arises
owner from selling it. d. Fruits are delivered
c. Only if he duly authorized by
the mortgagee in writing. 8. Connie transferred to Violeta a
d. Only if with the written parcel of land for a price of P
consent of the mortgagee. 100,000; P 30,000 to be paid in
cash and for the difference, she
will convey her car worth P
4. Which of the following may not 70,000. What kind of contract is
be object of a contract of sale? this?

a. Things having potential a. Lease contract

existence. b. Contract of sale
b. The sale of vain hope or c. Obligation of sale
expectancy. d. Barter
c. Future goods.
d. Answers not given 9. Sotto sells to Buena his 1988
Cougar car, and leaves Buena to
determine the price. Buena
5. A mortgaged his car to B for refuses to fix the price but took
P200,000. A failed to pay his the car for his use. Which of the
obligation. B sold it at public following statements is correct?
auction for P180,000. Can B
recover the deficiency?

1
 a. No sale because the price is b. Suspicious transaction
not fixed by the parties. c. Both a and b
b. There is a sale, Buena must d. At the election of covered
pay a reasonable price.
institution
c. No sale until a third person
fixed the price.
d. Sotto may go to a court and 13. It is a crime whereby the
ask for damages. proceeds of an unlawful activity
are transacted, thereby making
10. The corporation (PDIC) shall them appear to have originated
settle the claim (of insured from legitimate sources.
deposits within:
a. Kidnapping with ransom
a. 1 year b. Illegal gambling
c. Money loitering
b. 2 years
d. None of the above
c. 3 years
d. 6 months
14. Action for copyright infringement
11. Under Secrecy of Bank Deposits must be filed within ____ yrs
Act RA 1405, as amended; bank
deposits and investments in a. 1 yr
government bonds may be b. 2 yrs
examined, inquired, or looked c. 3 yrs
into under: d. 4 yrs

a. Upon written permission or

consent in writing by the 15. The basic requirement of
depositor trademark is
b. Investigation by the
Ombudsman under The a. Originality and
Ombudsman Act distinctiveness
c. Application for Compromise
of Tax Liability, b. Originality and visibility
Determination of Decedent’s
Estate, and Exchange of Tax c. Visibility and
Information under the distinctiveness
National Internal Revenue
d. None of them
Code (NIRC)
d. All of the above 16. How are rights to a mark
acquired?
12. Should the transaction be
a. Registration
determined to be both covered b. Prior use
transaction and suspicious c. Reservation with I{PO
transaction, the covered d. Actual use
institution shall be required to
report the same as
17. It is acquired from the moment of
a. Covered transaction creation.

2
 a. Trademark 21. Which of the following is
b. Copyright considered as an actual delivery?
c. Patent
d. All of the above a. Execution and signing of the
deed of sale.
18. It is the commission referred in b. Delivery by the vendor of the
the Data Privacy Act. key of the warehouse where
the goods are stored.
A. NATIONAL PRIVACY c. Placing the title of the
COMMISSION ownership in the hands of
the buyer.
B. NATIONAL DATA PRIVACY
d. The goods sold are placed in
COUNCIL
the control and possession of
C. NATIONAL the vendee.
INFORMATIONPRIVACY
COMMISSION
22. The buyer has a right to the
D. NATIONAL TELECOMUNICATIONS fruit of the thing from the time
COMMISSION
a. Thing is delivered
19. RA 10173 does not apply to the b. Contract is perfected
following except c. Obligation to deliver the
thing arises
a. personal information controllers d. Fruits are delivered
b. the individual is or was an
officer or employee of the 23. Alco mortgaged his house and
government institution lot in Quezon City to Bon. May
Alco sell the house and lot to
c. the name of the individual on a Cab?
document prepared by the
individual in the course of a. No, otherwise the sale is
employment with the government void.
b. Yes, if there is no stipulation
d. the name of a corporation on a
forbidding the owner from
document prepared by the
selling the mortgaged
individual in the course of
property.
employment with the government
c. No, if there is a stipulation
20. The National Privacy forbidding the owner from
Commission shall ensure at all selling the mortgaged
times the confidentiality of any property.
_______information that comes to d. Yes, even if there is a
its knowledge and possession. stipulation forbidding the
owner from selling the
a. private and public mortgaged property
b. international

c. personal 24. A public officer is charged

d. data with violation of the anti-graft
and corrupt practices act before

3
 the Office of the Ombudsman. c. The thing pledged may
The Ombudsman requests a be placed in the
bank to disclose information possession of a third
regarding the accounts in the person.
name of the public officer’s d. To bind a third person, it
immediate family. What must be recorded in the
principle or ground may the Office of the Registration
bank invoke to resist such of Deeds.
inquiry? *
[Link] of the following is a
a. an inquiry into bank deposits common requisite for pledge,
cannot be had at the chattel mortgage and
preliminary investigation level. antichresis?
b. no inquiry into bank deposits
a. The amount of principal and
can be had in the absence of a
interest must be in writing
court order.
b. The property must be in the
c. no inquiry can be made possession of the creditor.
except into bank accounts of c. The bind third persons they
the person charged. must be duly recorded in the
office of the Register of
d. the office of the ombudsman Deeds.
has no power to inquire into d. It is constituted to secure the
bank deposits. fulfilment of a principal
obligation.

[Link] and mortgage are

accessory contracts. Which of
the following statements is
[Link] following are the requisites
false?
of pledge except
a. They are meant to secure
a. The disposal of the property
the fulfilment of a principal
by the pledgor
condition.
b. Absolute ownership of the
b. They cannot exist if the
property pledged.
principal obligation is void.
c. The thing pledged may be
c. They can exist by
placed in the possession of a
themselves.
third person.
d. They can secure fulfilment of
d. To bind a third person, it
rescissible obligation.
must be recorded in the
Office of the Registration of
Deeds. 29. The Bank Secrecy Law (RA
1405) prohibits disclosing any
[Link] following are the requisites information about deposit
of pledge except records of an individual without
court order except *
a. The disposal of the
property by the pledgor a. In an examination to determine
b. Absolute ownership of the gross estate of a decedent.
property pledged.

4
 b. In an investigation for violation b. Committee Board of the
of Anti-Graft and Corrupt Bangko Sentral
Practices. c. Bangko Sentral Monetary
Board
c. In an investigation by the d. Bangko Sentral Finance
Ombudsman. Board
d. In an impeachment 33. He shall act as the ex officio
proceeding. auditor of the Bangko Sentral,
empowered and authorized to
30. The following are excluded from
appoint a representative who
PDIC deposit insurance, whether
shall be the auditor of the
they are dominated,
Bangko Sentral.
documented, recorded or
booked as deposit by the bank, a. Certified Public Accountant\
Except: b. Chief Executive Officer of
the Bangko Sentral
a. Investment products such as
c. Chairman of the Commission
bonds, securities and trust
on Audit
accounts.
d. Deputy Governor
b Deposit accounts which are
unfunded, fictitious or 34. A commercial bank may own up
fraudulent to one hundred percent (100%)
of the equity in the following
c. Foreign currencies considered as except one:
part of BSP's International
reserves a. UNIVERSAL BANKS
b. RURAL BANKS
d. Deposit products constituting or c. THRIFT BANKS
emanating from unsafe and d. NON-FINANCIAL ALLIED
unsound banking practices. ENTERPRISE

35. The Monetary Board may

require a bank, quasi-bank or
31. What is the amount of insured
trust entity to engage the
deposit?
services of an _____ to be
a. Minimum of P500,000, gross chosen by the bank, quasi-bank
or trust entity concerned from a
b. Maximum of P500,000, list of certified public
gross accountants acceptable to the
c. Maximum of P500,000, net Monetary Board.

d. Minimum of P500,000 net a. INDEPENDENT AUDITOR

b. INTERNAL AUDITOR
c. INDEPENDENT DIRECTOR
32. Who shall exercise the powers d. INTERLOCKING DIRECTOR
and functions of the Bangko
Sentral? 36. Banks are classified into the
following except:
a. Fiscal Board of the Bangko
Sentral a. COOPERATIVE BANKS

5
 b. URBAN BANKS 40. The Recto Law is applicable on:
c. UNIVERSAL BANKS a. Sale of car on a straight
d. COMMERCIAL BANKS term
b. Sale of house on
37. It shall refer to entities instalment were the
engaged in the borrowing of buyer constituted
funds through the issuance, mortgage on the house.
endorsement, or assignment c. Sale of car on instalment
with recourse or acceptance were the buyer
of deposit substitutes for constituted a mortgage
purposes of relending or on his truck
purchasing of receivables and d. None of the above.
other obligations.
[Link] the delivery takes place
a. QUASI-BANKS by the mere consent of
b. URBAN BANKS contracting parties as when the
c. MORTGAGE BANKS vendor merely points to the
d. COMMERCIAL BANKS thing sold which shall thereafter
38. It is a contract wherein a be at the control and disposal of
person binds to a creditor to the vendee if the thing sold
fulfill the obligation of the cannot be transferred to the
principal debtor in case the possession of the vendee at the
latter should fail to do so: time of sale, delivery is
effected:
a. Guaranty
b. Pactua Consisorius a. By tradition symbolica
c. Suretyship b. By tradition longa manu
d. d. None of the three. c. By tradition brevi manu
d. Answers not given
39. The written abandonment of
the pledge produces which the [Link]-ay sold his house to
of the following effects? Bibingka but continued to
posses it as a lessee of the
a. The principal obligation is purchaser.
extinguished.
b. The pledge remains unless a. Traditio longa manu
the thing pledged is b. Quasi-traditio
returned. c. Tradition constitutum
c. The pledge remains unless possessorium
the debtor/pledgor has d. Tradition brevi manu
accepted abandonment in
writing. [Link] sold his motorcycle to
d. The pledgee becomes a Narcisa. No date was fixed for
depositary until he gives the performance of their
back the possession of the respective obligations. The
thing pledged to the obligation of Barayoga is:
debtor/pledgor.

6
 a. To wait for Narcisa to pay d. Somewhat false
the price before he delivers
the motorcycle. 47. When the condition of a chattel
b. To deliver the motorcycle mortage is broken, who can
after Narcisa demands redeem?
delivery.
c. To rescind the contract a. Mortgagor
because the time of b. Person holding a subsequent
performance is not fixed. mortgage
d. To deliver the motorcycle as c. Subsequent attaching
soon as possible because the creditor
sale has been purchased. d. All of the above

[Link] of the following 48. Chattel is distinguished from

obligations of the vendor cannot pledge.
be waived?
a. The excess over the amount
a. To allow the buyer to due after foreclosure goes to
examine the goods sold. the debtor.
b. To transfer the ownership to b. The sale of the object in an
the buyer. auction distinguishes the
c. To pay the expenses of the obligation.
deed of sale. c. The delivery of the personal
d. To warrant the thing sold property is necessity.
d. The registration of the
45. A loan given is a commodatum. property in the Registry of
Except? Property is necessary.

a. If the ownership of the thing

loaned is retained by the 49. Element of a patent includes all
lender. of the following except
b. If the borrower has the a. Novelty
obligation to return the same
thing loaned. b. Inventive Step
c. If the loan is gratuitous and
c. Innovative Process
may be onerous.
d. If the thing loaned involves d. Industrial Applicability
something not consumable.

46. If the chattel mortgage is 50. Apart from economic rights,

constituted for the purchase of the author of a copyright also
personal property payable In has moral rights which he may
installments, no deficiency transfer by way of assignment.
judgement can be asked and The term of these moral rights
any agreement to the contrary shall last
shall be void
a. During the author’s lifetime
a. True and for 50 years after his death.
b. False
c. Somewhat true b. Forever.

7
 c. 50 years from the time Which statement is most
the author created his work. accurate?
d. During the author’s
lifetime.
a) Y can use the painting for
his use because this is not a
51. T, an associate attorney in XYZ copyrightable material;
Law Office, wrote a newspaper
publisher a letter disputing a b) X can sue Y for
columnist’s claim about an infringement because artistic
incident in the attorney’s works are protected from the
family. T used the law firm’s moment of creation;
letterhead and its computer in
preparing the letter. T also c) Works of art need to be
requested the firm’s copyrighted also to get
messenger to deliver the letter protection under the law;
to the publisher. Who owns the
copyright to the letter? d) Y can use the drawing
even though not copyrighted
because it is already a public
a. T, since he is the original property having been published
creator of the contents of
already.
the letter.
b. Both T and the publisher, 53. When shall an invention not be
one wrote the letter to the considered new?
other who has possession of
it. a. if consists of the ideas of
others without acknowledging
c. The law office since it was the author
an employee and he wrote it
on the firm’s letterhead. b. if it forms part of a prior art
d. The publisher to whom the c. if it has the same style
letter was sent.
d. if it resembles another
invention
52. X’s painting of Madonna and
54. To whom shall the patent
Child was used by her mother to
belong in case the employee
print some personalized gift
made the invention in the course
wrapper. As part of her mother’s
of his employment contract?
efforts to raise funds for Bantay
Bata, the mother of X sold the a. the employee, if the
wrapper to friends. Y, an inventive activity is not
entrepreneur, liked the painting part of his regular duties
in the wrapper and made many even if the employee uses
copies and sold the same the time, facilities and
through National Bookstore. materials of the employer.

8
 b. the employer, if the way to achieve substantially the
invention is the result of same result.
the performance of his
a. doctrine of equivalents
contractual duties.
b. doctrine of equality
c. the employee, if the
inventive activity is part c. doctrine of infringement
of his regular duties even
if the employee uses the d. breach of contract
time, facilities, and 57. It means any visible sign
materials capable of distinguishing the
d. the employer, if the goods or services of an
invention results in his enterprise and shall include a
performance and there is no stamped or marked container of
agreement to the contrary. goods.

55. How many years is the term of a. collective mark

the patent? b. mark
a. 7 years from the filing date of c. trademark
the application without any
possibility of renewal. d. service marK

b. 5 years from the filing 58. How does ownership of a

date of the application which is trademark be acquired?
renewable for not more than 2 A. REGISTRATION MADE VALIDLY
consecutive periods of 5 years IN
each. ACCORDANCE WITH THE
PROVISIONS OF THE INTELLECTUAL
c. twenty (20) years from the PROPERTY CODE.
filing date of the application. B. PROCESSING THE DOCUMENTS
NEEDED
d. twenty (20) years from the C. ACTUAL USE BY THE
filing date of the application MANUFACTURER
without any possibility of D. PROCESSING OF FROMAL
renewal. REQUIREMENTS
a. registration made validly in
accordance with the provisions
56. It provides that an infringement of the intellectual property
also takes place when a device code.
appropriates a prior invention by b. processing the documents
incorporating its innovative needed
concept and although with some
modification and change, c. actual use by the
performs substantially the same manufacturer

9
 d. processing of formal end and probable effect of
requirements deceiving the public.

59. How many years is the duration a. unreasonable competition

of the certificate of registration of
b. unfair competition
marks?
c. infringement competition
a. ten (10) years and is
renewable d. partial competition
b. fifteen (15) years and 63. What is the rule on copyright
renewable regarding the works of joint
authorship?
c. twenty (20) years
a. the co-authors shall be
d. five (5) years
the original owners of
60. It means the name or designation the copyright and in the
identifying or distinguishing an absence of agreement,
enterprise, also known as their rights shall be
business identity governed by the rules on
co-ownership.
a. patent
b. the main author shall
b. trademark
acquire the ownership of
c. tradename thecopyright.

d. brand c. the co-authors shall

acquire equa l ownership
61. Which of the following is an over the work.
example of an infringement?
d. the co-authors shall
a. usage of any reproduction of a exercise the copyright to
registered mark without the an extent required for the
consent of the owner exhibition of the work in
b. the use of the mark for any manner.
emergency purposes

c. using the registered mark in 64. What is the term of protection

good faith regarding photographic
d. using the mark in upon the works?
approval of the owner a. fifty (50) years from
62. It is defined as the passing off or publication of the work and, if
attempting to pass off upon the unpublished, fifty (50) years
public the goods or business of from the making.
one person as the goods or b. forty (40) years from
business of another with the publication of the work and, if

10
 unpublished, fifty (50) years reserving the ownership of the
from the making. subject property despite delivery
thereof to the prospective buyer,
c. forty (40) years from
binds himself to sell the said
publication of the work and, if
property exclusively to the
unpublished, forty (40)years
prospective buyer upon fulfillment
from the making.
of the condition agreed upon, that
d. thirty (30) years from is, full payment of the purchase
publication of the work and, if price
unpublished, thirty (30)years
a. Absolute sale
from the making.
b. Conditional sale
65. What is the calculation of
the term of protection c. Contract to sell
subsequent to the death of the
d. Agency to sell
author?
[Link] a seller sells things as being
a. from the date of his death or of
of a particular kind, the buyer not
publication
knowing whether the seller’s
b. five (5) days following death representations are true or false, but
relying on them as true; or as
c. after ten (10)days
otherwise stated, where the buyer
d. from the publication itself has not seen the article sold and
relies on the description given to
66. Is a continuing offer or contract him by the seller, or has seen the
by which the owner stipulates goods, but the want of identity is
with another that the latter shall not apparent on inspection
have the right to buy the
property at a fixed price within a a. sale or return
certain time, or under, or in b. sale on approval
compliance with, certain terms c. sale by sample
and conditions, or which gives to d. sale by description
the owner of the property the
right to sell or demand a sale? 69. The following are the obligations of
the vendor, except:
a. option
a. To transfer the ownership of
b. earnest the thing sold at the time of
c. absolute meeting of the minds

d. conditional b. To deliver the thing

c. To warrant the object sold

against eviction and hidden
[Link] is a bilateral contract whereby the defects
prospective seller, while expressly

11
 d. To take care of the object D’s loan. IS the contract of
sold pending delivery mortgage valid?

70. S sold to a in a deed of sale his a. No because D must be the

parcel of land, afterwards, S sold owner of the mortgaged land.
the same kand to B in another b. Yes provided G will deliver the
land to C.
deed of sale who was aware of
c. Yes because third persons who
the sale to A. B, thereafter, took are not parties to the principal
possession thereof and registered obligation may secure the
the sale in his name. The parcel latter by pledging or
of land shall belong to: mortgaging their own property.
d. No because G is no privy to
A. A, because he has the the contract of loan.
oldest title
73. D borrowed P20,000 from C. To
B.B, because the sale to him secure the fulfillment of loan, D
was in deed of sale mortgaged a land owned by
ailing father. Which of the
C.B, because he was the first following statements is correct?
possessor of the land The contract of mortgage is valid
because future property may be
D. B, because he first pledged or mortgaged.
registered the sale in his
favor a. The contract of loan is null
and void because the
71. The delivery consists in the contract of mortgage is null
owner’s continuous possession of and void.
the property he had already sold b. The contract of mortgage will
to another person but his present become valid upon the death
possession is no longer of an of D’s father.
owner but under another c. The contract of mortgage is
null and void because the
capacity, like that of a lessee.
mortgagor must be the owner
of the property mortgaged at
the time it is constituted but
A. Legal formalities the contract of loan remains
to be valid.
B. Symbolical tradition d. The contract of mortgage is
valid because future property
C. Traditio brevi manu may be pledged or
[Link] constitutum mortgaged.
possessorium

74. It is a stipulation whereby the

72. D borrowed P1,000,000 from C. thing pledged or mortgaged shall
G a third person, mortgaged his automatically become the
land to secure the fulfillment of property of the creditor in the

12
 event of non-payment of the debt a. Accessory- it cannot exist
within the term fixed. without a principal obligation

b. Indivisible- it creates a
a. Pactum credatium
lien on the whole or all of the
b. Pactum commissorium
properties mortgaged, which
c. Pactum debitarium
lien continues until the
d. Pactum crematorium
obligation is secures has been
75. What is the remedy of the fully paid.
pledger if without fault of the
pledgee, there is danger, c. Inseparable- it subjects
destruction, impairment, or the property upon which it is
diminution of the thing pledge? imposed, whoever the
possessor may be, to the
a. He may demand the
return of the thing upon fulfillment of the obligation for
offering another in pledge whose security it was
constituted
b. He may cause the same
to be sold at public sale d. Real contract- It is
perfected by the delivery of
c. All of the above the thing mortgaged
d. None of the above 78. It is a type of foreclosure made
76. If the proceeds of the sale of the through the filling of a petition in
thing pledged in conventional court under Rule 68 of Rules of
pledge is less than the amount of Court and availed of when the
the obligation, which of the deed of real estate mortgage
following statements is true? does not provide for special
power of attorney (SPA)
a. The debtor-pledgor shall authorizing the mortgage-creditor
always pay for the deficiency to foreclosure it extra-judicially.
b. The creditor-pledgee a. Legal foreclosure
cannot recover the deficiency
even if stipulated b. Conventional foreclosure
c. The creditor-pledgee can c. Judicial foreclosure
recover deficiency only if
stipulated d. Extra-judicial foreclosure

d. The debtor-pledgor shall 79. It is a conditional sale of personal

pay for the deficiency if property as security for a
stipulatedI, II, and III payment of a debt, or the
77. The following are the important performance of some other
characteristics of contract of real obligation specified therein, the
estate mortagage, except condition being that the sale shall
be void upon the seller paying to
the purchaser a sum of money or

13
 doing some other act named. If 82. It is a contract whereby the
the condition is performed creditor acquires the right to
according to its terms the receive the fruits of an
mortgage and sale immediately immovable of his debtor, with the
become void, and the mortgagee obligation to apply them to the
is thereby divested of his title. payment of the interest, if owing,
and thereafter to the principal of
a. Chattel Mortgage
his credit.
b. Pledge
a. pledge
c. Real Estate
b. Chattel Mortgage
d. Antichresis
c. Real Mortgage
80. In case the proceeds of the sale
d. Antichresis
from judicial or extra-judicial
foreclosure of Real Estate
Mortgage is lower than the
83. A sworn statement attesting to
principal obligation and costs,
the fact that the chattel
which is true?
mortgage is made for the
a. The mortgagee may recover purpose of securing the
the deficiency in the absence obligation specified in the
of stipulation to the contrary conditions thereof, and for no
other purpose, and that the
b. The mortgagor shall not pay
obligation is just and valid, and
the deficiency in the absence
one not entered into for the
of stipulation to the contrary
purpose of fraud.
c. The mortgagee shall always
a. Affidavit of good moral
recover the deficiency
character
d. The mortgagor shall always
b. Affidavit of merit
pay the deficiency
c. Affidavit of good faith

d. Affidavit of trust
81. The following may become an
object of a chattel mortgage,
except
84. Refers to a Kind of Commodatum
a. Personal property where the bailor may demand the
thing at will?
b. Movable property
a. Precarium
c. Intangible property
b. Contract of Loan
d. Real or immovable property
c. Ordinary Commodatum

14
 d. Simple Loan 88. X needs a size of 10 of model 101
of Leather Shoes regularly
available to the public for her
85. Refers to a Contract whereby one boyfriend Z, but the same is out
of the parties delivers to another of stock so she placed an order
money or other consumable thing for one. On the other hand, Z
with the understanding that the placed an order for size No. 8,
same amount of the same kind
colored violet, (something not
and quality shall be paid?
ordinarily made by the company)
a. Mutuum to be given to X. Which is
b. Precarium correct?
c. Contract of Deposit
d. Commodatum
A. Both are contracts of sale
86. A loan given is a commodatum. B. Both are contracts for a piece of
Except? work
C. First is a contract of sale second
a. If the ownership of the thing is a contract for a piece of work
loaned is retained by the lender. D. First is a contract for a piece of
b. If the borrower has the work, second is a contract of
obligation to return the same sale
thing loaned.
c. If the loan is gratuitous and 89. If immovable property should
may be onerous. have been sold to different
d. If the thing loaned involves vendees, the ownership shall be
something not consumable. transferred to the person

A. Who have first taken possession

87. Ben pledged his watch to V.Y. in good faith
Domingo Agencia for P5,000. On B. Who presents the oldest title in
due date, Ben failed to redeem good faith
his watch. The pawnshop sold C. Who in good faith first recorded
the watch at a public auction to it in the Registry of Property
the highest bidder at P4,000. D. Who have paid in good
faith the purchase price in full
a. The pawnshop can recover the
deficiency of P1,000 from Ben 90. Using the preceding number, if
[Link] pawnshop cannot recover movable property, it shall belong
the deficiency of P1,000 unless to the person
there is a stipulation.
c. The pawnshop cannot recover A. Who have paid in good the
the deficiency of P1,000 even purchase price in full
if there is a stipulation. B. Who in good faith first
[Link] pawnshop can recover the recorded it in the Registry of
deficiency of P1,000 even Property
without a stipulation C. Who presents the oldest title in
good faith
D. Who have first taken
possession in good faith

15
 A. Sale of credit

91. Action to seek a corresponding B. Young animal not yet conceived

reduction in price by reason of at the time of perfection
some vices or defects in the
thing purchased C. Land which the seller expects to
buy
A. Accion quanti minoris
B. Accion reinvidicatoria D. Future inheritance
C. Accion pauliana 95. I. Option money is considered as
D. Redhibilitory action
part of the purchase price while
92. The redhibitory action based on earnest money is not.
the faults or defects of animals
II. The Maceda Law refers to the
must be brought within
sale of personal property by
A. 30 days from delivery to the installments while the Recto Law
vendee refers to the sale of real property
B. 40 days from delivery to the by installments.
vendee
C. 45 days from delivery to the
vendee
D. 6 months from delivery to the A. First statement is true, second
vendee statement is false.

B. First statement is false, second

93. X stole a fountain pen from P and
statement is true.
sold it to Z Merchandise, a “store for
pens”, which paid for it in good faith, C. Both statements are true.
not knowing it was stolen. The “store”
then sold it to C, a student. Which is D. Both statements are false
correct?

96. It includes the conduct of

A. C cannot be considered as the examination to determine
owner because the original
compliance with laws and
seller (X) is not the real owner.
B. P may recover the fountain pen regulations if the circumstances
from C without reimbursement so warrant as determined by the
because he is the legal owner. Monetary Board.
C. C became the owner because
he purchased the pen from a
merchant store
A. EXAMINATION
D. C became the owner regardless
of whether the seller is a store B. OBSERVATION
for pens or not because C
bought it in good faith. [Link]

94. Which of the following cannot be D. SUPERVISION

the object of a contract of sale?

16
97. What is the primary objective of dealers are concerned for
the Bangko Sentral? purposes of reporting to Anti-
Money Laundering Council?
A. To uplift the quality of life of
the people and develop the A. A transaction exceeding
economy P100,000

B. To maintain price stability B. A transaction exceeding

conducive to a balanced and P500,000
sustainable growth of the
C. A transaction exceeding
economy
P1,000,000
C. Provide policy directions in the
D. A transaction exceeding
areas of money, banking, and
P5,000,00
credit

D. Supervision over the

operations of banks and 100. Which of the following is not a
exercise such regulatory power function of National Privacy
Commission?

a. ensure compliance of personal

98. The following are not covered by
information controllers
PDIC deposit insurance except:
b. compel or petition any entity,
I. Investment products
government agency or
II. Deposit accounts which are instrumentality to abide by its
unfunded, fictitious or orders or take action on a matter
fraudulent affecting data privacy

III. Deposit products emanating c. publish on a regular basis a

from unsafe and unsound guide to all laws relating to data
banking practices piracy

IV. Deposit that are determined d. ensure compliance of public

to be proceeds of an unlawful information controllers
activity

A. I only

B. III only

C. II and III

D. None of the above

99. What is the amount of covered

transaction in so far as jewelry

17