1.

A cooperative may be organized and registered by at least _____ person(s) for any or all of the
following purposes in article 6 of cooperative law.
a. 1
b. 5
c. 10
d. 15
2. The primary objectives of every cooperative are the following, except:
a. To amend its articles of cooperation in accordance with the provisions of this code
b. Provide maximum economic benefits to its members
c. Provide goods and services to its members
d. Propagate cooperative practices and new ideas in business and management
3. A cooperative which promotes thrift among its members and creates funds in order to grant
loan
a. Multipurpose
b. Credit
c. Service
d. Consumer
4. A cooperative which engages in the supply of production inputs to its members and markets
their products
a. Multipurpose
b. Credit
c. Marketing
d. Consumer
5. A cooperative which undertakes joint product whether agricultural or industrial
a. Multipurpose
b. Service
c. Producers
d. Marketing
6. A cooperative which combines two or more of the business activities of different types of
cooperatives
a. Consumer
b. Marketing
c. Multipurpose
d. Service
7. A cooperative which primary purpose is to procure and distribute commodities to members and
non-members.
a. Credit
b. Service
c. Producer
d. Consumer
8. A cooperative in which the members are primaries
a. Primary
b. Secondary
c. Tertiary
 d. Limited
9. A cooperative in which the members are secondary upward to one or more apex organization
a. Primary
b. Secondary
c. Tertiary
d. Limited
10. A cooperative in which the members are natural persons
a. Primary
b. Secondary
c. Tertiary
d. Limited
11. A cooperative member who is entitled to all the rights and privileges of membership
a. Primary
b. Secondary
c. Associate
d. Regular
12. A cooperative member who has no rights to vote nor to be voted upon
a. Primary
b. Secondary
c. Associate
d. Regular
13. A member of cooperative may withdraw his membership from the cooperative by giving ____
day notice to the board of directors
a. 30
b. 60
c. 90
d. 120
14. The following are the automatic termination of membership, except
a. Death
b. Insolvency
c. Dissolution
d. None of the above
15. A regular meeting shall be held _______ by the general assembly
a. Annually
b. periodically
c. Semi-annually
d. Monthly
16. Unless otherwise provided in the bylaws, a quorum shall consists of ____ of all the members
entitled to vote
a. 25%
b. 50%
c. 10%
d. 75%
17. Which of the following books shall be kept open to its members and representatives of the
authority?
a. Cooperative bylaws
b. Copy of the regulation of the SEC
c. Register of members and non-members
d. Minute of the meetings of all members
18. Cooperatives with accumulated reserves and undivided net savings of more than P10 Million
shall pay the following taxes at full rate, except
a. Income tax
b. Sales tax on sales to non-members
c. Sales tax on sales to members
d. Income tax on the amount allocated for interest on capitals
19. Cooperatives may derive their capital from any of the following
a. Share capital
b. Revolving capital
c. Loans
d. All of the above
20. Cooperatives shall be subject to audit
a. Semi-annually
b. Annually
c. Periodically
d. Monthly
21. Philippine Cooperative Code, also known as
a. RA 9520
b. Act 9520
c. RA 9250
d. Act 9250
22. Cooperative Code of the Philippines is signed into law on
a. February 17, 2008
b. February 17, 2010
c. February 17, 2009
d. February 17, 2007
23. A procedure wherein the cooperative assesses its social impact and ethical performance vis-à-vis
a. Cooperative audit
b. Social assessment
c. Financial Statement audit
d. Social audit
24. Audit on the efficiency and effectivity of the cooperative as a whole
a. Performance audit
b. Cooperative audit
c. Financial Statement audit
d. Social audit
25. Members should be, except
a. Legal age
 b. Filipino citizen
c. Continues to be a member for 3 years
d. Meets the minimum requirements
26. The person responsible for maintenance and safekeeping of books of accounts
a. Accountant
b. Board of Directors
c. President
d. Auditor
27. Annual reports should be filed ___ days from the close of the calendar year
a. 30
b. 60
c. 90
d. 120
28. Reserve fund
a. At least 10%
b. Not less than 3%
c. Not more than 7%
d. Not more than 10%
29. Education and training fund
a. At least 10%
b. Not less than 3%
c. Not more than 7%
d. Not more than 10%
30. Option fund
a. At least 10%
b. Not less than 3%
c. Not more than 7%
d. Not more than 10%
31. Community development fund
a. At least 10%
b. Not less than 3%
c. Not more than 7%
d. Not more than 10%
32. Cooperative which promotes and advocates cooperativism among its members
a. Consumer
b. Advocacy
c. Social
d. Multipurpose
33. Cooperative which engages in savings and credits
a. Financial service
b. Bank
c. Credit
d. Savings
34. Minimum paid-up share capital is
 a. P5,000
b. P10,000
c. P15,000
d. P20,000
35. Cooperative registered under this code shall have the following powers and capabilities, except
a. To sue and to be sued
b. Succession
c. Adopt bylaws
d. None of the above
36. A cooperative may be organized and registered for any or all of the following purposes, except
a. To encourage thrift and savings
b. To generate funds and extend credit to members
c. To develop expertise among its members
d. None of the above
37. A cooperative registered under this code shall have
a. Unlimited liability
b. Limited liability
c. Joint liability
d. Successive liability
38. ___ copies of each proposed articles of cooperative bylaws shall be submitted to the COA
a. 1
b. 2
c. 3
d. 4
39. No merger or consolidation shall be valid unless approved by ___ of all the members eligible to
vote
a. 1/3
b. 2/3
c. ¼
d. 2/4
40. Cooperative unions may have the following purposes, except
a. To represent its member organization
b. To develop cooperative movement in their respective jurisdictions
c. To promote thee knowledge of cooperative practices
d. None of the above
41. The ________ shall encourage the private sector to undertake the actual formation and
organization of cooperatives
a. State
b. People
c. Government
d. President
42. A cooperative is a duly registered association of persons, with a ______ bond of interests
a. Equal
b. Common
 c. Similar
d. Different
43. Every cooperative shall conduct its affairs in accordance with Filipino _______
a. Culture
b. Norm
c. Tradition
d. Principle
44. No cooperative or method or act thereof which complies with this code shall be deemed a
a. Copyright
b. Conspiracy
c. Patent
d. Benchmark
45. A cooperative shall exist for a period not exceeding
a. 25 years
b. 30 years
c. 60 years
d. 50 years
46. Authority issues a certificate of registration under its official
a. Name
b. Seal
c. Address
d. Instrument
47. The certificate of registration is issued by the cooperative development __________
a. Agency
b. Act
c. Authority
d. Law
48. A contract can be executed between cooperatives and ________
a. Private person
b. Individual
c. Group
d. Members
49. A _______ cooperative may merge into a single cooperative
a. Two
b. Five or more
c. 3 and more
d. 2 or more
50. It shall be composed of such members who are entitled to vote under the articles of cooperative
and bylaws
a. Partial assembly
b. General assembly
c. Meetings
d. Assembly