Prelim Exam: Cooperative Management! Quiz

45 Questions | By Anthzila | Updated: Mar 22, 2022 | Attempts: 14974

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Prelim Exam: Cooperative Management! Quiz - Quiz

Questions and Answers

1.

An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
- A.
  
  Government
- B.
  
  Cooperative
- C.
  
  Union
2.

Check the three basic interests of business.
- A.
  
  Ownership
- B.
  
  Manager
- C.
  
  Control
- D.
  
  Supervise
- E.
  
  Beneficiary
3.

Cooperatives are owned, managed, and patronized by _______.
- A.
  
  Members
- B.
  
  Manager
- C.
  
  Proprietor
4.

Cooperatives serve best when they answer the needs of the_______.
- A.
  
  Members
- B.
  
  Manager
- C.
  
  Proprietor
5.

Check the COOP PRINCIPLES & PRACTICES.
- A.
  
  Open and Voluntary Membership
- B.
  
  Democratic Member Control
- C.
  
  For Lending and Credit
6.

In Cooperatives, membership is forced.
- A.
  
  True
- B.
  
  False
7.

In cooperatives, the members are the owners of the business.
- A.
  
  True
- B.
  
  False
8.

Check the cooperative values.
- A.
  
  Self-help
- B.
  
  Self-responsibility
- C.
  
  Democracy
- D.
  
  Autocratic
- E.
  
  Business-minded
9.

One of the purposes of Cooperative is to encourage _________.
- A.
  
  Thrift and savings
- B.
  
  Borrow when there's no money
- C.
  
  Lending all the way
10.

A type of coop that caters to lending services.
- A.
  
  Credit Coop
- B.
  
  Consumers Coop
- C.
  
  Producers Coop
- D.
  
  Multi-purpose coop
11.

A type of coop that is formed by farmers to save money selling crops and other products of farmers.
- A.
  
  Credit Coop
- B.
  
  Consumers Coop
- C.
  
  Producers Coop
- D.
  
  Multi-purpose coop
12.

What is the primary capital of cooperatives?
- A.
  
  Member's share capital
- B.
  
  Savings
- C.
  
  Donations
13.

What are the two types of membership?
- A.
  
  Regular
- B.
  
  Permanent
- C.
  
  Associate
- D.
  
  Part time
14.

Death can be a reason to terminate a member in the coop.
- A.
  
  True
- B.
  
  False
15.

A member can continue to be a member even he does not patronize the Coop services.
- A.
  
  True
- B.
  
  False
16.

A member can be terminated if he is mentally ill.
- A.
  
  True
- B.
  
  False
17.

What are the duties of a Coop member?
- A.
  
  Attend general assembly
- B.
  
  Patronize products and services
- C.
  
  Always apply for a credit
- D.
  
  Withdraw the capital share
18.

What is the highest governing body of the Cooperative?
- A.
  
  General Assembly
- B.
  
  BOD
- C.
  
  Officers
19.

Who will preside the General Assembly?
- A.
  
  Officers
- B.
  
  Chairman
- C.
  
  Committees
20.

How many times the General Assembly must meet in a year?
- A.
  
  Only once a year
- B.
  
  Twice a year
- C.
  
  One, but BOD might call a special meeting
21.

The Board of Directors has the power to create new policies that can be implemented directly without the General Assembly's approval.
- A.
  
  True
- B.
  
  False
22.

BOD's number should be odd.
- A.
  
  True
- B.
  
  False
23.

What committee is responsible for the approval of the loans?
- A.
  
  Audit committee
- B.
  
  Credit committee
- C.
  
  Supevisory committee
24.

What committee is responsible for the checking and analysis of the financial reports?
- A.
  
  Credit committee
- B.
  
  Audit committee
- C.
  
  Supervisory committee
25.

Check the choices that hold true about the education committee.
- A.
  
  Responsible for auditing
- B.
  
  Calls the meeting
- C.
  
  Recruits new members
- D.
  
  Gives training and lecture about the coop