Bayan Muna demands investigation of ODA-funded projects
THE Bayan Muna party called for an immediate investigation of government projects funded by foreign loans. Rep. Teddy Casiño urged Congress, through the Congressional Oversight Committee on Foreign-Funded Projects to review projects financed by overseas development assistance (ODA) to uncover anomalies involving them. The call was made after the sudden cancellation by Arroyo of 11 projects belonging to this category.
The projects are the Angat Water Utilization and Aqueduct Improvement Project Phase 2 in Metro Manila worth `5.75 billion; Bataan Manila Pipeline Project, `7.2 billion; LRT line 2 Phase 2 Extension (Santolan to Masinag, Antipolo), `10.33 billion; LRT line 1 North Extension, `5.98 billion; Cyber-Education Project, `26.48 billion; Mainline Southrail Project Phase 1A, `15.30 billion; LRT 1 line 1 South Extension (Pasay to Bacoor, Cavite) `15.3 billion; New Communications, Navigation, Surveillance and Air Traffic Management Systems Development Project in North Luzon, `2.64 billion; Regionalization of Mental Health Services in Luzon Urban Beltway, `1.32 billion; Redevelopment of Tacloban Airport Development Project Phase II, `1.12 billion; and even the construction of classrooms for elementary and high school that totals `45.67M. In total, these projects amount to `104 billion.
Choose to be Rich Program
031108
Liquidate your credit card loans. Take stock of your unsecured credit card debt by filling in the chart below. In the margin reorganize the list in descending order of interest rate. Pay off the card with the highest Annual Percentage Rates (APR) first then proceed doewn the line.
Credit Card - Minimum Monthly Payment - Balance - Interest Rate -
Sad to say (or the reverse) I don't have a credit card...
I AM SO HAPPY AND GREATFUL NOW THAT…
031108
1. I don't have a credit card!
2. I am intelligent and full of tactics!
3. I am a millionaire!
4. I am going to Dubai by July!
Showing posts with label The Secret. Show all posts
Showing posts with label The Secret. Show all posts
Sunday, March 16, 2008
Jonas Burgos listed in the AFP Order of Battle
Jonas Burgos listed in the AFP Order of Battle
EDITHA Burgos, mother of missing activist Jonas Burgos recently said in an interview that a military secret report states that her son was listed in the Order of Battle (OB) of the AFP, which establishes the motive for his abduction by military agents. The OB is a military list of targeted enemies.
According to Mrs. Burgos, a soldier (who requested anonymity) belonging to the 56th IB of the Philippine Army based in Norzagaray, Bulacan disclosed that Jonas was suspected to be the head of the NPA Intelligence Department in the province of Bulacan and hid under the aliases Ka Raymond, Ka Ramon or Ka Simon.
Jonas has reportedly been in the AFP OB since Marso 17, 2007. The document also revealed that the military was behind his abduction in the Ever Gotesco in Quezon City in April. He underwent tactical investigation first before being reported "neutralized", a military term for "killed."
The military has also implicated Jonas' wife Marian, whose cousin has suffered harassment from persons who introduced themselves as members of the Commission on Human Rights who were trying to locate Jonas' wife and child.
Mrs. Burgos disclosed the information in the course of hearings at the Court of Appeals on her family’s petition for a writ of amparo. Mrs. Burgos has also brought the campaign to surface Jonas to the United States.
Choose to be Rich Work Book
031008
The Waste Watcher's Diet
Write down enough belt-tightening measures to yield at least $150 in savings each month (or as much as you can realistically save) then commit to shredding your budgetary flab. Your financial health depends on it.
I agree to cut back on For a monthly savings of
Total = $
Signed:
As of now I can't answer it yet Im still on the record keeping stage on to where my money goes specifically.
I AM SO HAPPY AND GREATFUL NOW THAT…
031008
1. I am disciplined on my money!
2. The food cart is nearly finished!
3. I am awaiting almost P10,000 by the month's end!
4. I will be at Dubai by July!
EDITHA Burgos, mother of missing activist Jonas Burgos recently said in an interview that a military secret report states that her son was listed in the Order of Battle (OB) of the AFP, which establishes the motive for his abduction by military agents. The OB is a military list of targeted enemies.
According to Mrs. Burgos, a soldier (who requested anonymity) belonging to the 56th IB of the Philippine Army based in Norzagaray, Bulacan disclosed that Jonas was suspected to be the head of the NPA Intelligence Department in the province of Bulacan and hid under the aliases Ka Raymond, Ka Ramon or Ka Simon.
Jonas has reportedly been in the AFP OB since Marso 17, 2007. The document also revealed that the military was behind his abduction in the Ever Gotesco in Quezon City in April. He underwent tactical investigation first before being reported "neutralized", a military term for "killed."
The military has also implicated Jonas' wife Marian, whose cousin has suffered harassment from persons who introduced themselves as members of the Commission on Human Rights who were trying to locate Jonas' wife and child.
Mrs. Burgos disclosed the information in the course of hearings at the Court of Appeals on her family’s petition for a writ of amparo. Mrs. Burgos has also brought the campaign to surface Jonas to the United States.
Choose to be Rich Work Book
031008
The Waste Watcher's Diet
Write down enough belt-tightening measures to yield at least $150 in savings each month (or as much as you can realistically save) then commit to shredding your budgetary flab. Your financial health depends on it.
I agree to cut back on For a monthly savings of
Total = $
Signed:
As of now I can't answer it yet Im still on the record keeping stage on to where my money goes specifically.
I AM SO HAPPY AND GREATFUL NOW THAT…
031008
1. I am disciplined on my money!
2. The food cart is nearly finished!
3. I am awaiting almost P10,000 by the month's end!
4. I will be at Dubai by July!
Moro groups file case on Sulu massacre at UN rights body
The Suara Bangsamoro and the Moro Islamic Liberation Front will file a case before the United Nations Human Rights Council on the massacre perpetrated by the Special Warfare Group ofPhilippine Navy and Light Reaction Company of the Philippine Army. The massacre, which took place at dawn of February 4 claimed the lives of eight civilians from Ipil, Maimbung, Sulu. The announcement was made after the AFP absolved the soldiers responsible for the massacre.
Suara national chair Amira Lidasan called the results of an AFP probe claiming the slaughter was a legitimate encounter with the Abu Sayyaf "incredible". An investigation had yet to be made but the AFP had been quick to conclude that the victims were either members or coddlers of the Abu Sayyaf. The AFP merely reiterated the same line when it released on February 28 the results of an alleged investigation conducted by the Judge Advocate General's Office of the Western Mindanao Command.
The findings of an investigation by the Commission on Human Rights (CHR) released earlier revealed that no real encounter took place in Maimbung that day and that none of the victims was an Abu Sayyaf member. The report detailed how government troops assaulted the island village of Maimbung and gunned down residents as they pleaded for their lives and shouted that they were civilians.
Two of the raiders were also killed and five others wounded when they mistook each other as enemies and traded shots, according to the CHR.
The one-sided AFP investigation came under severe criticism, prompting Lt. Gen. Nelson Allaga, chief of the Western Mindanao Command, to announce that the results of their probe were just preliminary and that the soldiers involved in the incident were not yet in the clear.
Suara national chair Amira Lidasan called the results of an AFP probe claiming the slaughter was a legitimate encounter with the Abu Sayyaf "incredible". An investigation had yet to be made but the AFP had been quick to conclude that the victims were either members or coddlers of the Abu Sayyaf. The AFP merely reiterated the same line when it released on February 28 the results of an alleged investigation conducted by the Judge Advocate General's Office of the Western Mindanao Command.
The findings of an investigation by the Commission on Human Rights (CHR) released earlier revealed that no real encounter took place in Maimbung that day and that none of the victims was an Abu Sayyaf member. The report detailed how government troops assaulted the island village of Maimbung and gunned down residents as they pleaded for their lives and shouted that they were civilians.
Two of the raiders were also killed and five others wounded when they mistook each other as enemies and traded shots, according to the CHR.
The one-sided AFP investigation came under severe criticism, prompting Lt. Gen. Nelson Allaga, chief of the Western Mindanao Command, to announce that the results of their probe were just preliminary and that the soldiers involved in the incident were not yet in the clear.
AFP misencounters in Bicol
SIX AFP soldiers died and two others were wounded in a misencounter between the 8th Scout Ranger Company and 3rd Scout Ranger Battalion in Irosin, Sorsogon on February 25.
To cover up the incident, the AFP issued a false report that a clash between the AFP and NPA had transpired and that two NPA fighters were killed and two M16 armalite rifles were recovered.
According to a report by the Celso Minguez Command of NPA-Sorsogon, a team of NPA snipers was on its way to the ambush site when they heard gunshots. Three government troops were hit in the first volley.
The snipers were quick to avoid being caught in the firefight when the second round of shooting ensued between the two military units. After the clash, the enemy soldiers secretly retrieved their casualties.
Choose to be Rich Work Book
(030808)
Debt Quiz: How Deeply Dug in Are You?
1. Do you pay your bills late? yes 2. Have you hidden a bill from your parents, gf/bf, spouse? yes
3. Have you neglected repairing the car/motor because of insufficient funds? yes
4. Is there family tension because of overspending? yes
5. Have you bought something recently that you didn't need and could'nt afford? no
6. Do you regularly spend more than your paycheck? yes
7. Have you been turned down for credit? no
8. Do you buy lottery tickets in the hopes of etting out from under? no
9. Have you put off saving money for a rainy day? yes
10. Does your total debt (mortgage excluded) exceed your rainy day reserve? yes
Score = 0 yes answer - Good for you! Your in control of your cash flow
1-5 yes range answers - you need to reduce your cost
6-10 yes answers - Watch out! You may be headed to a financial disaster!
My score = 7 yes answers - OUCH!
I AM SO HAPPY AND GREATFUL NOW THAT…
(030808)
1. I will be away from financial disaster!
2. Millions are on it's way!
3. I am disciplined and focused!
4. Success is mine!
To cover up the incident, the AFP issued a false report that a clash between the AFP and NPA had transpired and that two NPA fighters were killed and two M16 armalite rifles were recovered.
According to a report by the Celso Minguez Command of NPA-Sorsogon, a team of NPA snipers was on its way to the ambush site when they heard gunshots. Three government troops were hit in the first volley.
The snipers were quick to avoid being caught in the firefight when the second round of shooting ensued between the two military units. After the clash, the enemy soldiers secretly retrieved their casualties.
Choose to be Rich Work Book
(030808)
Debt Quiz: How Deeply Dug in Are You?
1. Do you pay your bills late? yes 2. Have you hidden a bill from your parents, gf/bf, spouse? yes
3. Have you neglected repairing the car/motor because of insufficient funds? yes
4. Is there family tension because of overspending? yes
5. Have you bought something recently that you didn't need and could'nt afford? no
6. Do you regularly spend more than your paycheck? yes
7. Have you been turned down for credit? no
8. Do you buy lottery tickets in the hopes of etting out from under? no
9. Have you put off saving money for a rainy day? yes
10. Does your total debt (mortgage excluded) exceed your rainy day reserve? yes
Score = 0 yes answer - Good for you! Your in control of your cash flow
1-5 yes range answers - you need to reduce your cost
6-10 yes answers - Watch out! You may be headed to a financial disaster!
My score = 7 yes answers - OUCH!
I AM SO HAPPY AND GREATFUL NOW THAT…
(030808)
1. I will be away from financial disaster!
2. Millions are on it's way!
3. I am disciplined and focused!
4. Success is mine!
Wednesday, March 12, 2008
Looming food crisis
HUNGER is set to worsen in the Philippines and other impoverished countries with a severe food crisis expected to hit this year.
According to economists, one of the factors contributing to soaring prices of basic food items is the proliferation of biofuels. The prices of corn, for instance, which is used in the manufacture of ethanol, increased by a staggering 88% in the world market—which has also triggered a domino effect on the prices of pork and chicken. Corn is a main ingredient in animal feeds.
Also affected by skyrocketing world market prices are coconut oil (96%), rice (54%), soybeans (85%) and wheat (148%). Prices of foods that use wheat and cooking oil (such as bread) are likewise projected to increase as a result. The effects of this crisis are expected to be felt in the Philippines by March.
Another factor is the spiralling price of crude oil that has now come to $103 per barrel, the highest recorded in the last 30 years.
Rapidly rising food prices are sure to worsen the already miserable conditions of the impoverished majority in the Philippines. National Statistical Coordination Board figures state that the proportion of poor Filipinos increased from 24.4% in 2003 to 26.9% in 2006. In fact, up to 80% of Filipinos live in abject poverty because of widespread unemployment and wages pegged at extremely low levels.
Choose to be Rich Work Book
(030708)
HOW WEALTHY ARE YOU?
Total Assets (Rich Dad Version) = P4,690.50
Total Expenses = P16,030+
ZERO WEALTH
Your Wealth (Assets/Expenses) = months
Total Passive Income = P
Note: Once your monthly passive income exceeds your monthly expenses, you're infinitely wealthy because your assets are working for you.
GOAL: TO PURCHASE ASSETS THAT GENERATE PASSIVE AND/OR PORTFOLIO INCOME IN EXCESS OF MONTHLY EXPENSES.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030708)
1. For the movie Goal! I AM REACHING NOW MY DREAMS! NOTHING AND NO ONE CAN STOP ME!
2. March is the month where I am focusng on riches!
3. Money is coming to me in huge amounts! THANKS FOR THE MILLIONS!
4. The youth mag will be a big hit!
According to economists, one of the factors contributing to soaring prices of basic food items is the proliferation of biofuels. The prices of corn, for instance, which is used in the manufacture of ethanol, increased by a staggering 88% in the world market—which has also triggered a domino effect on the prices of pork and chicken. Corn is a main ingredient in animal feeds.
Also affected by skyrocketing world market prices are coconut oil (96%), rice (54%), soybeans (85%) and wheat (148%). Prices of foods that use wheat and cooking oil (such as bread) are likewise projected to increase as a result. The effects of this crisis are expected to be felt in the Philippines by March.
Another factor is the spiralling price of crude oil that has now come to $103 per barrel, the highest recorded in the last 30 years.
Rapidly rising food prices are sure to worsen the already miserable conditions of the impoverished majority in the Philippines. National Statistical Coordination Board figures state that the proportion of poor Filipinos increased from 24.4% in 2003 to 26.9% in 2006. In fact, up to 80% of Filipinos live in abject poverty because of widespread unemployment and wages pegged at extremely low levels.
Choose to be Rich Work Book
(030708)
HOW WEALTHY ARE YOU?
Total Assets (Rich Dad Version) = P4,690.50
Total Expenses = P16,030+
ZERO WEALTH
Your Wealth (Assets/Expenses) = months
Total Passive Income = P
Note: Once your monthly passive income exceeds your monthly expenses, you're infinitely wealthy because your assets are working for you.
GOAL: TO PURCHASE ASSETS THAT GENERATE PASSIVE AND/OR PORTFOLIO INCOME IN EXCESS OF MONTHLY EXPENSES.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030708)
1. For the movie Goal! I AM REACHING NOW MY DREAMS! NOTHING AND NO ONE CAN STOP ME!
2. March is the month where I am focusng on riches!
3. Money is coming to me in huge amounts! THANKS FOR THE MILLIONS!
4. The youth mag will be a big hit!
New witness confirms bribery in ZTE
The direct involvement of Gloria and Mike Arroyo in the anomalous NBN-ZTE project is further being unravelled as the probe on the graft-ridden contract continues.
On February 26, a new witness named Dante Madriaga, former consultant to ZTE, testified before the Senate that it was the Filipino partners of ZTE led by former COMELEC Chair Benjamin Abalos who received bribes from the Chinese corporation and facilitated kickbacks for the Arroyo couple. One of the Filipino partners, Leo San Miguel, recruited Madriaga for the project.
San Miguel allegedly disclosed to Madriaga that the payoffs to the government officials were released in three tranches. The first, he stated, was $1 million given in August 2006 when negotiations for the contract began. The second tranche was $10 million after NEDA approved the contract in March 2007, half of which went to the Arroyo couple. The third installment was $30 million which was released soon after Gloria Arroyo witnessed the signing of the contract in Boao, China in April 2007. This amount was used to fund the Arroyo coalition's electoral campaign in 2007.
Because of huge kickbacks, the contract ballooned with more than $170 million allotted to bribery.
Madriaga also said that former Malacañang chief of staff Mike Defensor was also involved in the project, and his role was to protect and secure the Arroyo couple's share during the NBN-ZTE transactions.
Still another witness, who according to Sen. Panfilo Lacson has "direct information regarding the flow of money from ZTE", is expected to corroborate Madriaga's testimony.
Meanwhile, the Senate has rejected the Supreme Court's ruling on former NEDA chief Romulo Neri's appearance before the Senate. Neri, who was among the first to blow the whistle regarding the involvement of the president's husband in the anomalous deal invoked "executive privilege" to stop the Senate from forcing him to reveal his discussions with Gloria Arroyo on the now-scuttled ZTE deal. He earlier filed a petition with the Supreme Court seeking to define the parameters of "executive privilege," a provision that bans government officials from from $50 million to a whopping $329 milli on, disclosing conversations with the president.
In a compromise agreement proposed by the Supreme Court on March 4, Neri would be obliged to appear before Senate inquiries but the senators will be probihited from asking the following questions: 1) did the president follow up on the contract; 2) did Arroyo order Neri to proceed with the project even after he had reported about the bribery attempt; and 3) did Arroyo order NEDA to give priority to the ZTE contract.
Both the senators and legal experts said the privilege could not be used to cover up criminal acts, and that it was not proper to limit the scope of questions that the senators may ask witnesses.
Meanwhile, Malacañang recently scrapped Executive Order (EO) 464 as a result of mounting criticisms on the controversial provision. Arroyo was forced to nullify Memorandum Order (MO) 108 as well, which contains illegal provisions the Supreme Court discarded in 2007. Both EO 464 and MC 108 impose restrictions on the attendance of members of the executive branch in congressional and senate investigations. Despite the Palace move, however, the regime continues to evade hearings, prohibit government officials from testifying and weave a web of lies.
Choose to be Rich Work Book
(030608)
WHAT IS YOUR RETURN ON ASSETS?
Total Assets (Rich Dad version) A = P4,690.50
Total Passive and Portfolio Income B = 0 x12 = P0
Cash - On - Asset Return (Annualized Income B/Total Assets A) = 0%
GOAL: INCREASE YOUR CASH-ON-ASSET RETURN
I AM SO HAPPY AND GREATFUL NOW THAT…
030608
1. I am pro people...
2. My aura is good!
3. Everythings gonna be alright!
4. I am healthy and wealthy!
On February 26, a new witness named Dante Madriaga, former consultant to ZTE, testified before the Senate that it was the Filipino partners of ZTE led by former COMELEC Chair Benjamin Abalos who received bribes from the Chinese corporation and facilitated kickbacks for the Arroyo couple. One of the Filipino partners, Leo San Miguel, recruited Madriaga for the project.
San Miguel allegedly disclosed to Madriaga that the payoffs to the government officials were released in three tranches. The first, he stated, was $1 million given in August 2006 when negotiations for the contract began. The second tranche was $10 million after NEDA approved the contract in March 2007, half of which went to the Arroyo couple. The third installment was $30 million which was released soon after Gloria Arroyo witnessed the signing of the contract in Boao, China in April 2007. This amount was used to fund the Arroyo coalition's electoral campaign in 2007.
Because of huge kickbacks, the contract ballooned with more than $170 million allotted to bribery.
Madriaga also said that former Malacañang chief of staff Mike Defensor was also involved in the project, and his role was to protect and secure the Arroyo couple's share during the NBN-ZTE transactions.
Still another witness, who according to Sen. Panfilo Lacson has "direct information regarding the flow of money from ZTE", is expected to corroborate Madriaga's testimony.
Meanwhile, the Senate has rejected the Supreme Court's ruling on former NEDA chief Romulo Neri's appearance before the Senate. Neri, who was among the first to blow the whistle regarding the involvement of the president's husband in the anomalous deal invoked "executive privilege" to stop the Senate from forcing him to reveal his discussions with Gloria Arroyo on the now-scuttled ZTE deal. He earlier filed a petition with the Supreme Court seeking to define the parameters of "executive privilege," a provision that bans government officials from from $50 million to a whopping $329 milli on, disclosing conversations with the president.
In a compromise agreement proposed by the Supreme Court on March 4, Neri would be obliged to appear before Senate inquiries but the senators will be probihited from asking the following questions: 1) did the president follow up on the contract; 2) did Arroyo order Neri to proceed with the project even after he had reported about the bribery attempt; and 3) did Arroyo order NEDA to give priority to the ZTE contract.
Both the senators and legal experts said the privilege could not be used to cover up criminal acts, and that it was not proper to limit the scope of questions that the senators may ask witnesses.
Meanwhile, Malacañang recently scrapped Executive Order (EO) 464 as a result of mounting criticisms on the controversial provision. Arroyo was forced to nullify Memorandum Order (MO) 108 as well, which contains illegal provisions the Supreme Court discarded in 2007. Both EO 464 and MC 108 impose restrictions on the attendance of members of the executive branch in congressional and senate investigations. Despite the Palace move, however, the regime continues to evade hearings, prohibit government officials from testifying and weave a web of lies.
Choose to be Rich Work Book
(030608)
WHAT IS YOUR RETURN ON ASSETS?
Total Assets (Rich Dad version) A = P4,690.50
Total Passive and Portfolio Income B = 0 x12 = P0
Cash - On - Asset Return (Annualized Income B/Total Assets A) = 0%
GOAL: INCREASE YOUR CASH-ON-ASSET RETURN
I AM SO HAPPY AND GREATFUL NOW THAT…
030608
1. I am pro people...
2. My aura is good!
3. Everythings gonna be alright!
4. I am healthy and wealthy!
Arroyo's mad scramble to save herself
Gloria Arroyo is in a mad scramble to extricate herself from the quagmire she now finds herself in. In her desperation, she only succeeds in exposing her lies and underscoring her severe isolation from the people.
Gimmicks galore. Arroyo strains to display her handful of supporters even as the oust Arroyo movement expands. Among this handful are members of her cabinet and governors, congressmen, mayors and military and police officials on her payroll. All of them profit from the regime's multitiered corruption.
Arroyo and her minions have conducted a number of "solidarity walks," with one such "walk" held in Malacañang on February 19. On February 25, the 22nd anniversary of EDSA 1, all available military and police officers, among them AFP chief of staff Gen. Hermogenes Esperon and Philippine National Police (PNP) Director General Avelino Razon Jr. marched along EDSA from the People Power Monument to Camp Aguinaldo to show their alleged adherence to the chain of command.
To counter anti-Arroyo rallies joined by growing numbers of people, the Arroyo camp paid a number of barangay councils to organize a pro-Arroyo rally. A handful of fake and mercenary Arroyo supporters rallied at the Welcome Rotunda on February 28-29 simultaneous with the huge mass action then being held in Makati.
Fake witness, more lies. Arroyo has concocted various lies and slanders to damage the credibility of Rodolfo Noel "Jun" Lozada Jr. Among her maneuvers was the sudden appearance of Erwin Santos, a former employee of Lozada's at the Philippine Forest Corporation (Philforest). Amid tears, Santos accused Lozada of being responsible for anomalies at Philforest. Many people found Santos' testimony laughable, especially since it was Malacañang that obviously drew up his script. Santos was unable to hoodwink anyone, and was not even invited by the Senate to testify because of his incredible statements.
On February 12, agents of the National Bureau of Investigation raided Lozada's office at Philforest in Taguig City to dig up evidence and come up with a false story line from the seized papers.
Arroyo thought she could "shed light" on the NBN project by granting an interview over dzRH on February 23. But she ended up incriminating herself when she said that she approved the project even if she knew that the contract was "flawed." She allegedly found out about the "flaw" only on the eve of the contract signing and thus found it awkward to cancel the project outright. The next day, the regime realized that Arroyo's admission over the radio was a faux pas and has since been trying hard to deny that she ever made the statement.
Black propaganda. The regime has been spreading black propaganda in an effort to belittle the protests. It has insisted that the protests are confined to Metro Manila when mass actions are in fact widespread and have been attracting growing numbers both in the provinces and overseas.
The regime claims that conflicts are rife within the ouster movement when there is in fact an overriding unity against Arroyo within.
It likewise continues to spread lies about so-called plans by the New People's Army or the Abu Sayyaf bandit group to sow violence during rallies, when it is in fact the presence of battalions of military and police elements that indicates that the regime is ready to create havoc once Arroyo is in danger of losing her post.
Trembling in fear, sowing terror. Arroyo is deathly afraid of every witness against her who comes forward and has thus been mounting a campaign of harassment and repression.
She has ordered a tight watch against her regime's detractors, ordering the installation of a surveillance camera in front of La Salle where Lozada and his family have sought sanctuary. On February 28, Malacañang tried to spread panic among students of the Polytechnic University of the Philippines by phoning in a bomb threat on the day Lozada was scheduled to speak at a forum in the school. It failed to stop the students from massively showing their support for Lozada and manifesting their hatred for the regime.
There has been an overkill of military and police deployments during rallies, especially last February 29. Makati was declared a "no fly zone" that day to prevent the media from capturing in pictures or on video the actual size of the rally. Convoys of rallyists from the province were likewise blocked.
On the day of the huge rally, Arroyo was so terrified that she locked herself inside Camp Crame for three hours and put high-ranking military and police officers and members of her cabinet under strict surveillance. She left Crame only when the rallyists started to go home.
On March 4, she ordered the arrest of nine activists who staged a rally in the middle of one of her sorties in Laguna.
On the night of March 6, police forces violently dispersed more than 1,000 workers from Southern Tagalog who were rallying in front of the DOLE office in Intramuros, Manila. According to initial reports, three rallyists were arrested, 13 wounded and six missing after the bloody dispersal.
Worsening crisis.
Meanwhile, the International Crisis Group (ICG), a Belgium-based organization that analyzes crisis situations worldwide cited the growing presence of military forces in Metro Manila as an indicator of worsening crisis in the Philippines. The regime has justified the militarization of the national capital region by citing alleged assassination plots against Arroyo. The heightened military presence is in fact a reaction to intensifying anti-Arroyo protests in Metro Manila.
Choose to be Rich Work Book
(030508)
HOW MUCH DO YOU SPEND ON DOODADS?
Total Doodad Amount P66,520
Total Assets (Banker Version) P71,210.5
Doodad percentage of total assets (doodad total/total assets) 93.41%
GOAL: KEEP YOUR DOODADS UNDER 33% OF TOTAL ASSETS. THE LOWER THE PERCENTAGE, THE FASTER YOUR ASSETS WILL GROW.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030508)
1. I am on my way to millions!
2. The youth mag is a success!
3. I am calm and cool!
4. I am in total control!
Gimmicks galore. Arroyo strains to display her handful of supporters even as the oust Arroyo movement expands. Among this handful are members of her cabinet and governors, congressmen, mayors and military and police officials on her payroll. All of them profit from the regime's multitiered corruption.
Arroyo and her minions have conducted a number of "solidarity walks," with one such "walk" held in Malacañang on February 19. On February 25, the 22nd anniversary of EDSA 1, all available military and police officers, among them AFP chief of staff Gen. Hermogenes Esperon and Philippine National Police (PNP) Director General Avelino Razon Jr. marched along EDSA from the People Power Monument to Camp Aguinaldo to show their alleged adherence to the chain of command.
To counter anti-Arroyo rallies joined by growing numbers of people, the Arroyo camp paid a number of barangay councils to organize a pro-Arroyo rally. A handful of fake and mercenary Arroyo supporters rallied at the Welcome Rotunda on February 28-29 simultaneous with the huge mass action then being held in Makati.
Fake witness, more lies. Arroyo has concocted various lies and slanders to damage the credibility of Rodolfo Noel "Jun" Lozada Jr. Among her maneuvers was the sudden appearance of Erwin Santos, a former employee of Lozada's at the Philippine Forest Corporation (Philforest). Amid tears, Santos accused Lozada of being responsible for anomalies at Philforest. Many people found Santos' testimony laughable, especially since it was Malacañang that obviously drew up his script. Santos was unable to hoodwink anyone, and was not even invited by the Senate to testify because of his incredible statements.
On February 12, agents of the National Bureau of Investigation raided Lozada's office at Philforest in Taguig City to dig up evidence and come up with a false story line from the seized papers.
Arroyo thought she could "shed light" on the NBN project by granting an interview over dzRH on February 23. But she ended up incriminating herself when she said that she approved the project even if she knew that the contract was "flawed." She allegedly found out about the "flaw" only on the eve of the contract signing and thus found it awkward to cancel the project outright. The next day, the regime realized that Arroyo's admission over the radio was a faux pas and has since been trying hard to deny that she ever made the statement.
Black propaganda. The regime has been spreading black propaganda in an effort to belittle the protests. It has insisted that the protests are confined to Metro Manila when mass actions are in fact widespread and have been attracting growing numbers both in the provinces and overseas.
The regime claims that conflicts are rife within the ouster movement when there is in fact an overriding unity against Arroyo within.
It likewise continues to spread lies about so-called plans by the New People's Army or the Abu Sayyaf bandit group to sow violence during rallies, when it is in fact the presence of battalions of military and police elements that indicates that the regime is ready to create havoc once Arroyo is in danger of losing her post.
Trembling in fear, sowing terror. Arroyo is deathly afraid of every witness against her who comes forward and has thus been mounting a campaign of harassment and repression.
She has ordered a tight watch against her regime's detractors, ordering the installation of a surveillance camera in front of La Salle where Lozada and his family have sought sanctuary. On February 28, Malacañang tried to spread panic among students of the Polytechnic University of the Philippines by phoning in a bomb threat on the day Lozada was scheduled to speak at a forum in the school. It failed to stop the students from massively showing their support for Lozada and manifesting their hatred for the regime.
There has been an overkill of military and police deployments during rallies, especially last February 29. Makati was declared a "no fly zone" that day to prevent the media from capturing in pictures or on video the actual size of the rally. Convoys of rallyists from the province were likewise blocked.
On the day of the huge rally, Arroyo was so terrified that she locked herself inside Camp Crame for three hours and put high-ranking military and police officers and members of her cabinet under strict surveillance. She left Crame only when the rallyists started to go home.
On March 4, she ordered the arrest of nine activists who staged a rally in the middle of one of her sorties in Laguna.
On the night of March 6, police forces violently dispersed more than 1,000 workers from Southern Tagalog who were rallying in front of the DOLE office in Intramuros, Manila. According to initial reports, three rallyists were arrested, 13 wounded and six missing after the bloody dispersal.
Worsening crisis.
Meanwhile, the International Crisis Group (ICG), a Belgium-based organization that analyzes crisis situations worldwide cited the growing presence of military forces in Metro Manila as an indicator of worsening crisis in the Philippines. The regime has justified the militarization of the national capital region by citing alleged assassination plots against Arroyo. The heightened military presence is in fact a reaction to intensifying anti-Arroyo protests in Metro Manila.
Choose to be Rich Work Book
(030508)
HOW MUCH DO YOU SPEND ON DOODADS?
Total Doodad Amount P66,520
Total Assets (Banker Version) P71,210.5
Doodad percentage of total assets (doodad total/total assets) 93.41%
GOAL: KEEP YOUR DOODADS UNDER 33% OF TOTAL ASSETS. THE LOWER THE PERCENTAGE, THE FASTER YOUR ASSETS WILL GROW.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030508)
1. I am on my way to millions!
2. The youth mag is a success!
3. I am calm and cool!
4. I am in total control!
Anti-Arroyo protests gain momentum
The movement to oust Gloria Arroyo has gained momentum. Successive mass actions and gatherings by various groups and sectors are being launched after a successful rally in Makati on February 15. The anti-Arroyo alliance continues to expand, with its actions and statements becoming more militant.
The youth have a significant participation, especially students from various schools in Metro Manila. According to the latest Pulse Asia survey, three out of four Metro Manila residents believe in Jun Lozada and 76% expressed distrust for Arroyo and her chief minions. Sixty-nine percent (69%) of residents said they approved of protest actions to remove all leading officials involved in the NBN-ZTE anomaly, with one-fourth of them ready to join rallies to oust Arroyo.
Huge Makati demonstration
More than 75,000 people gathered in what was dubbed an inter-faith rally in Makati City on February 29—the biggest number so far since 2005 demanding Gloria Arroyo's resignation or ouster. The rally brought together various religious groups, schools, progressive United Opposition, Jesus is Lord Movement, Makati Business Club and other business groups, Black and White Movement and the Catholic Educators Association of the Philippines, among others.
The rally was marked by te attendance of personalities like former presidents Corazon Aquino and Joseph Estrada, former vice president Teofisto Guingona and a number of senators, former government officials and big businessmen like Manuel Pangilinan of PLDT.
The Communist Party of the Philippines and Comrade Jose Maria Sison, chair of the International League of Peoples' Struggles issued separate statements hailing the successful protest action. Sison said that a new people power uprising may erupt once 100,000-500,000 people gather to oust Arroyo.
Tens of thousands of people succeeded in gathering in Makati despite efforts by the police and military to block protesters. Checkpoints mushroomed along all entry points to Metro Manila to bar rallyists from Southern Tagalog and Central Luzon.
Eleven jeepneyloads of rallyists from Southern Tagalog were stopped in San Cristobal, Calamba and Cabuyao, Laguna, aside from Kilusang Mayo Uno members who were blocked in San Pedro, Laguna. Hundreds of students from Dela Salle University-Dasmariñas were unable to leave Cavite.
In Quezon City, students and teachers from the University of the Philippines-Diliman were barred from marching to Makati.
Two members of the Workers' Assistance Center in Rosario, Cavite were brought to a police station for launching a protest action.
Nationwide protests
Other cities likewise launched successful mass actions. In Dagupan City, Pangasinan, an estimated 5,000 students, church leaders, residents and IBP members attended a mass at the St. John the Evangelist Cathedral and later marched to call for Arroyo's resignation.
In Pampanga, Gov. Ed Panlilio and Bishop Roberto Mallari led a "unity walk for truth" joined by some 500 students. Rallies were also held in Subic, Zambales attended by 1,000 residents and in Baguio City attended by students.
Various protest actions were launched in Bicol. In Naga, more than 2,000 persons linked arms to form a "human chain" around the city and launched a noise barrage. In Sorsogon City, a thousand people joined a rally led by BAYAN and church groups. Mass actions were likewise held in Legazpi City; Daet, Camarines Norte; and Masbate City.
In San Pablo City, Laguna, up to 1,000 people united in a prayer vigil.
In the Visayas, up to 3,000 persons from various sectors attended a rally in Bacolod City. In Iloilo City, an estimated 1,000 people marched in a "Walk for Truth and Justice." They were joined by Archbishop Angel Lagdameo, president of the Catholic Bishops Conference of the Philippines. On the other hand, 500 students and activists rallied in Cebu City. Students launched a forum at the University of the Philippines-Tacloban City.
In Mindanao, 700 persons attended a rally in Cagayan de Oro City, along with Kamatuoran! (Truth), a broad anti-Arroyo alliance. Eight hundred people gathered in Davao City and 400 in Iligan City. Three hundred students from the Mindanao State University in Gen. Santos walked out of their classrooms to show their disgust for the regime. In Cotabato City, up to 200 persons simultaneously lit candles in protest. For the first time, activists launched a noise barrage in Digos City, Davao del Sur.
Protests abroad
Migrant Filipinos also launched protests in various parts of the globe. Part of the protests was the implementation of No Remittance Day as a way of pressuring the bankrupt Arroyo regime that depends on the billions of dollars sent by migrants.
In Hongkong, UNIFIL-Migrante led a rally on February 29. Filipinos meanwhile picketed Philippine embassies and consulates in San Francisco and Los Angeles, California; Seattle; and New York City.
Migrants in Ottawa, Winnipeg and Vancouver in Canada gathered together in protest. In Europe, a mass action was held in Italy.
In the Middle East, migrants declared February 29 a Day of Action. In Sydney, Australia, migrant Filipinos launched "Babay Gloria" (Bagong Bayani, Ayaw kay Gloria or New Heroes Hate Gloria).
Meantime, 61 former cabinet members from the Aquino, Ramos and Estrada regimes, along with members of the Arroyo cabinet who have resigned, called on cabinet members involved in the anomalies concerning the NBN-ZTE project to step down. They gave the Arroyo regime one week to institute reforms against corruption and will call for her ouster should Arroyo remain obstinate.
Choose to be Rich Work Book
(030408)
HOW MUCH DO YOU SPEND ON HOUSING EACH MONTH?
Mortgage Payment P0
Rent Payment P0
Insurance (home) P0
Real Estate Taxes P0
Utilities P0
Maintenance P0
Total P0
How much do you spend as a percentage of net income? Total/C = %
GOAL: KEEP HOUSING COSTS UNDER 33% OF NET INCOME.
I still live with my parents he he he he he he...
I AM SO HAPPY AND GREATFUL NOW THAT…
(030408)
1. I am abundant!
2. I am wealthy!
3. I am a money magnet!
4. I am acquiring massive wealth!
The youth have a significant participation, especially students from various schools in Metro Manila. According to the latest Pulse Asia survey, three out of four Metro Manila residents believe in Jun Lozada and 76% expressed distrust for Arroyo and her chief minions. Sixty-nine percent (69%) of residents said they approved of protest actions to remove all leading officials involved in the NBN-ZTE anomaly, with one-fourth of them ready to join rallies to oust Arroyo.
Huge Makati demonstration
More than 75,000 people gathered in what was dubbed an inter-faith rally in Makati City on February 29—the biggest number so far since 2005 demanding Gloria Arroyo's resignation or ouster. The rally brought together various religious groups, schools, progressive United Opposition, Jesus is Lord Movement, Makati Business Club and other business groups, Black and White Movement and the Catholic Educators Association of the Philippines, among others.
The rally was marked by te attendance of personalities like former presidents Corazon Aquino and Joseph Estrada, former vice president Teofisto Guingona and a number of senators, former government officials and big businessmen like Manuel Pangilinan of PLDT.
The Communist Party of the Philippines and Comrade Jose Maria Sison, chair of the International League of Peoples' Struggles issued separate statements hailing the successful protest action. Sison said that a new people power uprising may erupt once 100,000-500,000 people gather to oust Arroyo.
Tens of thousands of people succeeded in gathering in Makati despite efforts by the police and military to block protesters. Checkpoints mushroomed along all entry points to Metro Manila to bar rallyists from Southern Tagalog and Central Luzon.
Eleven jeepneyloads of rallyists from Southern Tagalog were stopped in San Cristobal, Calamba and Cabuyao, Laguna, aside from Kilusang Mayo Uno members who were blocked in San Pedro, Laguna. Hundreds of students from Dela Salle University-Dasmariñas were unable to leave Cavite.
In Quezon City, students and teachers from the University of the Philippines-Diliman were barred from marching to Makati.
Two members of the Workers' Assistance Center in Rosario, Cavite were brought to a police station for launching a protest action.
Nationwide protests
Other cities likewise launched successful mass actions. In Dagupan City, Pangasinan, an estimated 5,000 students, church leaders, residents and IBP members attended a mass at the St. John the Evangelist Cathedral and later marched to call for Arroyo's resignation.
In Pampanga, Gov. Ed Panlilio and Bishop Roberto Mallari led a "unity walk for truth" joined by some 500 students. Rallies were also held in Subic, Zambales attended by 1,000 residents and in Baguio City attended by students.
Various protest actions were launched in Bicol. In Naga, more than 2,000 persons linked arms to form a "human chain" around the city and launched a noise barrage. In Sorsogon City, a thousand people joined a rally led by BAYAN and church groups. Mass actions were likewise held in Legazpi City; Daet, Camarines Norte; and Masbate City.
In San Pablo City, Laguna, up to 1,000 people united in a prayer vigil.
In the Visayas, up to 3,000 persons from various sectors attended a rally in Bacolod City. In Iloilo City, an estimated 1,000 people marched in a "Walk for Truth and Justice." They were joined by Archbishop Angel Lagdameo, president of the Catholic Bishops Conference of the Philippines. On the other hand, 500 students and activists rallied in Cebu City. Students launched a forum at the University of the Philippines-Tacloban City.
In Mindanao, 700 persons attended a rally in Cagayan de Oro City, along with Kamatuoran! (Truth), a broad anti-Arroyo alliance. Eight hundred people gathered in Davao City and 400 in Iligan City. Three hundred students from the Mindanao State University in Gen. Santos walked out of their classrooms to show their disgust for the regime. In Cotabato City, up to 200 persons simultaneously lit candles in protest. For the first time, activists launched a noise barrage in Digos City, Davao del Sur.
Protests abroad
Migrant Filipinos also launched protests in various parts of the globe. Part of the protests was the implementation of No Remittance Day as a way of pressuring the bankrupt Arroyo regime that depends on the billions of dollars sent by migrants.
In Hongkong, UNIFIL-Migrante led a rally on February 29. Filipinos meanwhile picketed Philippine embassies and consulates in San Francisco and Los Angeles, California; Seattle; and New York City.
Migrants in Ottawa, Winnipeg and Vancouver in Canada gathered together in protest. In Europe, a mass action was held in Italy.
In the Middle East, migrants declared February 29 a Day of Action. In Sydney, Australia, migrant Filipinos launched "Babay Gloria" (Bagong Bayani, Ayaw kay Gloria or New Heroes Hate Gloria).
Meantime, 61 former cabinet members from the Aquino, Ramos and Estrada regimes, along with members of the Arroyo cabinet who have resigned, called on cabinet members involved in the anomalies concerning the NBN-ZTE project to step down. They gave the Arroyo regime one week to institute reforms against corruption and will call for her ouster should Arroyo remain obstinate.
Choose to be Rich Work Book
(030408)
HOW MUCH DO YOU SPEND ON HOUSING EACH MONTH?
Mortgage Payment P0
Rent Payment P0
Insurance (home) P0
Real Estate Taxes P0
Utilities P0
Maintenance P0
Total P0
How much do you spend as a percentage of net income? Total/C = %
GOAL: KEEP HOUSING COSTS UNDER 33% OF NET INCOME.
I still live with my parents he he he he he he...
I AM SO HAPPY AND GREATFUL NOW THAT…
(030408)
1. I am abundant!
2. I am wealthy!
3. I am a money magnet!
4. I am acquiring massive wealth!
Spread the fires of people's struggles to oust the Arroyo regime
The Filipino people have reached the height of their anger and repudiation of the US-Arroyo regime. They are fed up with, and outraged at, the Arroyo regime's many cases of corruption and mendacity and the acute suffering and oppression it has inflicted on them.
The protest movement is gaining breadth and momentum nationwide. Since the launching of one big rally after another in Makati on February 15 and 29, the collective outpouring of the people's anger has broadened in the national capital and various other parts of the country. All this indicates the Filipino people's resounding repudiation of the US-Arroyo ruling clique and their readiness to tread the path of militant action to put an end to the despicable regime.
More cases of the regime's corruption, lying and brutality are coming to the fore as the protest movement rages. Aside from the anomalies related to the NBN-ZTE project, another recent exposé is that of the antinational agreement entered into by the regime with China, allowing the latter to conduct oil exploration in the Spratly Islands in exchange for billions of dollars worth of loans. A myriad other cases of corruption, including the kickbacks received by the Arroyo family from the IMPSA-Caliraya deal and the Diosdado Macapagal Blvd. overpricing scheme had already been earlier bared.
The people could no longer bear their worsening suffering and poverty. It has become apparent to them that their intensifying hardships are a direct consequence of the Arroyo regime's corruption. The increasingly dismal economic conditions of the broad masses of the people could no longer be obscured by the regime's falsified statistics and media hype about economic progress. The people's growing misery and oppression are increasingly being linked to the regime's reeking corruption.
The regime strains to cover up its heinous crimes by distorting laws, weaving lies, suppressing the mass media and perpetrating a host of other maneuvers and fascist measures. In spite of all this, various sectors—the organized masses, the mass media, church people, businessmen, lawyers—are determined to unravel and expose the truth about the regime's anomalies and corruption.
The desperate regime has stepped up its fascist suppression of those who resist it and desire its ouster. Extrajudicial killings, abductions and other acts of violence against activists, critical media persons and other harsh critics of the regime are rampant. Even rallies and other legal and peaceful forms of protest are blocked and violently dispersed.
But the regime's brutality can no longer rein in the people's seething anger and their growing resistance. The protest movement is spreading like a prairie fire across the land. Rallies have become more frequent and are joined by increasingly bigger numbers of people demanding the regime's overthrow.
We must seize the opportunity presented by the burning protests and resistance to the Arroyo regime. We must reach out to all sectors in every area of the country. We must take advantage of every opportunity to step up our efforts to arouse and organize the people. We must demonstrate the inextricable link between the people's grinding poverty and oppression from day to day and the burning issues of the regime's corruption and repressiveness. We must issue urgent calls to intensify various forms of resistance against the regime. Both open resistance to, and armed struggle against, the regime must be simultaneously waged and advanced.
Conditions are ripe for waging a new, broad and militant people power against the Arroyo regime. We must infuse it with renewed vigor from the lessons drawn from past people's uprisings. We must make it even more historic by raising the level of its organized strength especially from the most impoverished and oppressed sectors and blazing up the national and democratic struggles of the people. Let us give our all in advancing all movements towards this end until the fires of people's struggles spread like a conflagration all over the land.
Choose to be Rich Work Book
(030308)
As of now I don't know how much tax is deducted to my payroll every pay day... I will photocopy my payroll...
WHAT IS YOUR INCOME AFTER TAX?
Your total monthly income A = P18,194
Taxes you pay per month B = P??????
Your net income per month C = P??????
What percentage of your gross income is paid in taxes? B/A =???????%
GOAL: DECREASE THE AMOUNT OF TAX YOU PAY. CONSULT YOUR TAX ADVISOR TO SEE IF YOU ARE TAKING FULL ADVANTAGE OF THE TAX DEDUCTIONS ALLOWED TO YOU. IF YOU HAVE STARTED A BUSINESS, MAKE SURE YOU ARE DEDUCTING ALL LEGITIMATE BUSINESS DEDUCTIONS.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030308)
1. I have a job and I have earnings...
2. I am a millionaire!
3. Money is coming to me in millions!
4. I am healthy and fit!
The protest movement is gaining breadth and momentum nationwide. Since the launching of one big rally after another in Makati on February 15 and 29, the collective outpouring of the people's anger has broadened in the national capital and various other parts of the country. All this indicates the Filipino people's resounding repudiation of the US-Arroyo ruling clique and their readiness to tread the path of militant action to put an end to the despicable regime.
More cases of the regime's corruption, lying and brutality are coming to the fore as the protest movement rages. Aside from the anomalies related to the NBN-ZTE project, another recent exposé is that of the antinational agreement entered into by the regime with China, allowing the latter to conduct oil exploration in the Spratly Islands in exchange for billions of dollars worth of loans. A myriad other cases of corruption, including the kickbacks received by the Arroyo family from the IMPSA-Caliraya deal and the Diosdado Macapagal Blvd. overpricing scheme had already been earlier bared.
The people could no longer bear their worsening suffering and poverty. It has become apparent to them that their intensifying hardships are a direct consequence of the Arroyo regime's corruption. The increasingly dismal economic conditions of the broad masses of the people could no longer be obscured by the regime's falsified statistics and media hype about economic progress. The people's growing misery and oppression are increasingly being linked to the regime's reeking corruption.
The regime strains to cover up its heinous crimes by distorting laws, weaving lies, suppressing the mass media and perpetrating a host of other maneuvers and fascist measures. In spite of all this, various sectors—the organized masses, the mass media, church people, businessmen, lawyers—are determined to unravel and expose the truth about the regime's anomalies and corruption.
The desperate regime has stepped up its fascist suppression of those who resist it and desire its ouster. Extrajudicial killings, abductions and other acts of violence against activists, critical media persons and other harsh critics of the regime are rampant. Even rallies and other legal and peaceful forms of protest are blocked and violently dispersed.
But the regime's brutality can no longer rein in the people's seething anger and their growing resistance. The protest movement is spreading like a prairie fire across the land. Rallies have become more frequent and are joined by increasingly bigger numbers of people demanding the regime's overthrow.
We must seize the opportunity presented by the burning protests and resistance to the Arroyo regime. We must reach out to all sectors in every area of the country. We must take advantage of every opportunity to step up our efforts to arouse and organize the people. We must demonstrate the inextricable link between the people's grinding poverty and oppression from day to day and the burning issues of the regime's corruption and repressiveness. We must issue urgent calls to intensify various forms of resistance against the regime. Both open resistance to, and armed struggle against, the regime must be simultaneously waged and advanced.
Conditions are ripe for waging a new, broad and militant people power against the Arroyo regime. We must infuse it with renewed vigor from the lessons drawn from past people's uprisings. We must make it even more historic by raising the level of its organized strength especially from the most impoverished and oppressed sectors and blazing up the national and democratic struggles of the people. Let us give our all in advancing all movements towards this end until the fires of people's struggles spread like a conflagration all over the land.
Choose to be Rich Work Book
(030308)
As of now I don't know how much tax is deducted to my payroll every pay day... I will photocopy my payroll...
WHAT IS YOUR INCOME AFTER TAX?
Your total monthly income A = P18,194
Taxes you pay per month B = P??????
Your net income per month C = P??????
What percentage of your gross income is paid in taxes? B/A =???????%
GOAL: DECREASE THE AMOUNT OF TAX YOU PAY. CONSULT YOUR TAX ADVISOR TO SEE IF YOU ARE TAKING FULL ADVANTAGE OF THE TAX DEDUCTIONS ALLOWED TO YOU. IF YOU HAVE STARTED A BUSINESS, MAKE SURE YOU ARE DEDUCTING ALL LEGITIMATE BUSINESS DEDUCTIONS.
I AM SO HAPPY AND GREATFUL NOW THAT…
(030308)
1. I have a job and I have earnings...
2. I am a millionaire!
3. Money is coming to me in millions!
4. I am healthy and fit!
QUEST FOR MARCH 2008
Another month is here, MArch the third month of the year... Now is the time to look for my new quest and reach it. I simply must reach it... My last month's quest score is a farce so I am gearing up for success this month!
According to Victor L. Dy the author of my feng shui planner - I must avoid entanglements by minding my business and controlling my impulsive reaction. I must also avoid hiking. Rev. Fr. Wongsengtian (Authentic Annual Prediction 2008) the Taoist Grand Minister, I must be particularly careful when signing contract.
There is only one thing that I must do this month to reach my quest. The name of the quest and its odjective is:
FOCUS ON RICHES!
BATTLE CRY FOR MARCH!
YOUTH MAGAZINE PRODUCTION AND SUBSCRIPTION OF THE SK
The said quest will be the focus of the KKK-Youth Cooperative. The assignment is to create a monthly Youth Magazine that will cater to the needs, wants, rights and welfare of the youth. The siad mag must be subscribed by the different SKs of all barangays in Albay.
I will post a seperate blog when I have done the project proposal.
CHOOSE TO BE RICH
030108
How Much Do You Keep?
Your total monthly income A = P18,194
Less your total monthly expenses B = P16,030+
Difference is how much you keep C = P 2,164-
Percentage of your income you're keeping C/A = 12%
GOAL: INCREASE THE PERCENTAGE OF INCOME YOU KEEP. START WITH 1% AND INCREASE IT FROM THESE IF YOU HAVE TO.
I AM SO HAPPY AND GREATFUL NOW THAT…
030108
1. Yes! Another month! Another Quest!
2. I am success personified!
3. I am a money magnet!
4. I am healthy and calm!
Friday, March 7, 2008
ASSESSMENT ANALYSIS OF FEB QUEST!
Today is the last day of February...
Let us now assess our Feb Quest entitled "LOVE, PEACE AND SUCCESS!"
LOVE, PEACE AND SUCCESS! REPORT
1. Must Have = 0
2. CFA Review and The Ancient Scrolls = 18%
Haven't followed the schedule strictly… The Ancient Scrolls, got drunk and haven't chanted it one night…
3. S.I.T. = 0
I have raised the amount but have used it too… It must not be moved for at least three months…
4. Stabilize the Business Empire = 25%
a. Fish Selling - Stopped
b. Food Cart - Not yet finished
c. Sexxxy!- not yet sold out, inventory still ongoing…
d. Others - the processed meat venture earned more than P1,500 net! 100% SUCCESS!
5. Travel for intellectual and social pursuit = 0
Additional Quest:
a. The Secret Book - Haven't finished = 22%
b. Deposit savings of 20% at Bank = 0
SCORE 0 + 18% + 0 + 25% + 0 + 22% + 0 = 0.65/ 7 = 0.0929 X 100 = 9.29
TOTAL SCORE = 9.29%
The result is quite disheartening... Let us analyse the situation using SWOT (Strength, Weaknesses, Opportunities, Threats) Analysis...
1. Strength - The processed meat venture is a hit... Focus on it and smoothen out the rough edges like record keeping and distributorship process...
2. Weaknesse - Time and money budget management... Poor record keeping...
3. Opportunity - The processed meat business...
4. Threats - Environment, drinking buddies...
Choose to be Rich Workbook
022908
Below is the form relaed to the recor keeping of expenses... I will fill it up for the month of March...
Personal Expenses
Name: Date:
Auto and truck
Loan Payments
Auto Lease
Auto Insurance
Gasoline/oil/tires
Repairs
Security Systems
Registration
Others
Total:
Charities
Church
Other
Total
Children
Clothing
Childcare
Education, Tuition and supplies
Wedding
Private School
Sports
Child Support
Toys
Religious Training
Other
Total:
Clothing
Purchases
Cleaning
Alterations/Repairs
Other
Total:
Education
Tuition
School Loans
Dues/Subscription
Books/Tapes
Seminars
Travel for Seminars
Other
Total:
Entertainment and Furnishings
Computer
Software
Home Office
Furniture
Art/sculpture
Home entertainment center
Other
Total:
Food
Purchased Food
Meals out
Other
Total:
Gifts
Weddings/Anniversaries
Birthdays
Holidays
Other
Total:
Others
Boat
Vacation Home
Pets/Food/Vet bills
Hobby Supplies/classes
Collectibles
Other
Total:
Housing
Rent
Mortgage
Property Tax
Insurance
Mortgage Insurance
Assessments
Home Security
Home Owner's Dues
Janitorial Supplies
Repairs/Improvements
Snow Removal
Pool Services
Lawn Service
Garden Tools
Other
Total
Legal and Accounting
Accounting/Bookkeeping
Tax Planning
Documents Preparation
Wills and Trusts
Other
Total
Miscellaneous
Interest
Alimony
Bank Fees
Other
Total
Personal Care
Hair/nail Care
Personal Items
Other
Total
Health Supplements
Vitamins
Exercise Equipment
Health Club Membership
Massage
Therapy
Medical Insurance
Dental Work
Eyeglasses/Vision exams
Medical co-payments
Hearing Aids
Prescriptions
Other
Total
Supplies
Home Supplies
Linen
Cleaning
Laundry
Lawn & Garden
Postage
Office Supplies
Other
Total
Taxes
Federal
State
Payroll
Other
Total
Utilities
Electric/Gas/Sewer/Water/Garbage
Cable TV
Basic Telephone
Pager
Cellphone
Lone Distance
Internet
Other
Total
I AM SO HAPPY AND GREATFUL NOW THAT…
022908
1. The meat processing business exceeded the target!
2. The Feb Quest is alreay finished!
3. A new successful quest awaits!
4. I am a millionaire!
Friday, February 29, 2008
CFA Candidate Self - Assessment Test
CFA Candidate Self-Assessment Test
A reader of our's have emailed me to post the CFA Exam that I took last February 23. I have already posted the answers and principles of the wrong answers I had. Now I am posting the whole exam. I encourage everyone to try and answer the said self-assessment test. Have fun...
You can send your answers at the comments section of the blog... Good Luck!
The CFA Program is postgraduate. The readings assigned in the study program and the questions on
the CFA examinations are geared for individuals who are prepared to deal with “masters”-level
coursework. Although many candidates enter the program with a business school education, others
may have a liberal arts background. No prerequisite courses of study are specified for entering the
CFA Program, but candidates should be aware that the assigned readings in many topic areas are
beyond a basic, introductory level.
The Level I Financial Statement Analysis material is directed at an intermediate/advanced level of
understanding. Before entering the CFA Program, candidates should be familiar with financial
accounting methods and financial statements. Candidates without a strong accounting background
or who need to refresh their accounting knowledge should review an intermediate financial
accounting textbook or enroll in a local university financial accounting course.
The Level I Economic Analysis material is also directed at an intermediate level of understanding.
Before entering the program, candidates already should be familiar with the principles of
macroeconomics, microeconomics, and the monetary system. If candidates do not have this
educational background or they wish to refresh their understanding of this material, a review of an
introductory level textbook or enrollment in a local university economics survey course is
appropriate.
The Level I curriculum in general assumes a basic understanding of financial markets and
instruments. Before entering the program, candidates should be familiar with the basic
characteristics of equity and fixed income markets and securities. Candidates without that
familiarity should review an introductory level textbook that addresses financial markets and
instruments.
The self-assessment test is designed to help candidates determine their need to review pre-CFA
materials. An answer key is provided at the end of the test. Candidates scoring less than 70 percent
correct in any one topic area should commit to additional study time preparing for that area prior to
or in conjunction with the CFA study program.
CFA Candidate Self-Assessment Test
Questions
FINANCIAL STATEMENT ANALYSIS: 30 Questions
Note to candidates: Questions 1 through 30 are based on U.S. generally accepted accounting
principles (GAAP) unless otherwise noted.
1. Accrual accounting techniques are used to:
A. assign revenues and expenses to the appropriate accounting period.
B. record the anticipated effects of actions that may occur at a future date.
C. report the results of actions whose monetary effects are difficult to estimate.
D. allocate nonoperating revenues and expenses to the appropriate business unit.
2. Which of the following is NOT considered an asset?
A. Inventory
B. Trademarks
C. Retained earnings
D. Accounts receivable
Use the information in the following table to answer Questions 3 and 4.
Black Company
Balance Sheet
December 31, 200X
Assets
Cash $100,000
Short-term investments 50,000
Accounts and notes receivable 130,000
Inventory 140,000
Land 170,000
Building $200,000
less accumulated depreciation (40,000) 160,000
Trademarks 110,000
Total Assets $860,000
Liabilities
Notes payable (due in 3 months) $80,000
Accounts payable 40,000
Accrued salaries payable 10,000
Mortgage payable (due in 8 years) 180,000
Total Liabilities $310,000
Stockholders’ Equity
Common stock $500,000
Retained earnings 50,000
Total Stockholder's Equity $550,000
Total Liabilities and Stockholders’ Equity $860,000
3. The total amount of Black Company’s assets to be classified as current assets is:
A. $150,000.
B. $280,000.
C. $420,000.
D. $590,000.
4. The net amount of Black Company’s earnings that has been reinvested in the company since the company’s inception is closest to:
A. $50,000.
B. $100,000.
C. $500,000.
D. $550,000.
5. When accounting for merchandising businesses, gross margin equals the difference between:
A. net sales and cost of goods sold.
B. net sales and operating expenses.
C. gross sales and the sum of returns and allowances.
D. net sales and the sum of cost of goods sold and operating expenses.
6. Which of the following would NOT contribute to the difference between gross sales and net sales?
A. Cash refunds for returned products.
B. Discounts from listed prices for delayed shipping.
C. Allowances off selling prices for defective products.
D. Sales made on credit rather than for immediate payment.
7. Classifying an investment as short-term or long-term depends primarily on:
A. the dollar amount of the investment.
B. the length of time the investor has held the investment.
C. whether a liquid market exists for selling the investment.
D. the length of time the investor expects to hold the investment.
8. Under the allowance method for accounting for uncollectible accounts:
A. losses from bad debts are recognized when defaults occur.
B. estimated losses from potentially uncollectible debt are amortized over the life of the obligation.
C. loans to high-risk borrowers are recorded at a discount relative to their stated principal amounts.
D. losses from bad debts are estimated for the same period in which the corresponding credit sales occur.
9. A company’s cost of inventory purchases was $250,000 during the year, its ending inventory was $80,000, and its beginning inventory was $100,000. The company’s cost of goods sold was closest to:
A. $170,000.
B. $270,000.
C. $330,000.
D. $370,000.
10. Inventory valuation methods rely primarily on assumptions about the flow of:
A. costs.
B. values.
C. money.
D. resale prices.
11. For a company with new fixed assets, which of the following combinations of accounting practices will most likely lead to the highest reported earnings in an inflationary environment?
Depreciation Method Inventory Method
A. Straight-line First in, first out (FIFO)
D. Straight-line Last in, first out (LIFO)
B. Double-declining-balance First in, first out (FIFO)
C. Double-declining-balance Last in, first out (LIFO)
12. In a period of rising prices, which of the following inventory methods generally results in the lowest reported net income?
A. FIFO method.
B. LIFO method.
C. Average-cost method.
D. Specific-identification method.
13. In a period of rising prices and stable inventory quantities, compared to a company that uses the FIFO inventory valuation method, a company using LIFO is likely to have higher:
A. inventory.
B. income taxes.
C. current assets.
D. cost of goods sold.
14. If a company’s ending inventory is understated by $3,000 and beginning inventory is overstated by $5,000, the company’s operating income will most likely be:
A. overstated by $2,000.
B. overstated by $8,000.
C. understated by $2,000.
D. understated by $8,000.
15. When applying the lower-of-cost-or-market rule to inventory, market generally refers to:
A. resale value.
B. original cost.
C. current replacement cost.
D. original cost less physical deterioration.
16. A company bought a truck on January 1 for $30,000. The truck has a five-year estimated useful life and a $5,000 residual value. Under the straight-line depreciation method, the asset’s carrying value for financial reporting purposes after two years is closest to:
A. $16,000.
B. $18,000.
C. $20,000.
D. $21,000.
17. For purposes of determining the amount of a capital expenditure, the acquisition cost of equipment would NOT include:
A. transportation cost.
B. insurance cost during transit.
C. cost of testing equipment during installation.
D. repair cost of damage incurred during installation.
18. Depreciation differs from other types of expenses in that depreciation:
A. can be measured more precisely.
B. does not require an immediate cash outlay.
C. is not deductible if it would result in a net loss.
D. can be avoided if the company acquires used assets.
19. If a company issued bonds at a discount, the discount is amortized over the life of the bonds and:
A. decreases the periodic interest payment below the interest expense charged.
B. increases the periodic interest expense charged above the interest payment made.
C. increases the periodic interest payment made above the interest expense charged.
D. decreases the periodic interest expense charged below the interest payment made.
20. On a company’s balance sheet, which of the following would NOT be listed as contributed capital?
A. Common stock
B. Preferred stock
C. Retained earnings
D. Paid-in-capital in excess of par value
21. Which of the following accurately describes the effects of a purchase of treasury stock on a company’s assets and stockholders’ equity?
Assets Stockholders’ Equity
A. Decreased Decreased
B. Decreased Unchanged
C. Unchanged Decreased
D. Unchanged Unchanged
22. If a corporation declares and pays a dividend, this transaction will:
A. increase liabilities.
B. decrease net income.
C. not affect total assets.
D. reduce stockholders’ equity.
23. A company’s assets and stockholders’ equity are most likely to be reduced by:
A. stock splits.
B. cash dividends.
C. stock dividends.
D. reverse stock splits.
24. The financial results from a discontinued operation should be reflected on a company’s financial statements by:
A. discussing the effects in a footnote.
B. adjusting the company’s reported costs.
C. adjusting the company’s reported net revenue.
D. reporting the effects separately on the income statement.
Questions 25 through 27 should be answered in the context of a statement of cash flows and using the following data for a company:
Cash payments for interest $ 12
Retirement of common stock 32
Cash payments to merchandise suppliers 85
Purchase of land 8
Sale of equipment 30
Payment of dividends 37
Cash payment for salaries 35
Cash collection from customers 260
Purchase of equipment 40
25. The company’s cash flows from operating activities are closest to:
A. $91.
B. $128.
C. $140.
D. $175.
26. The company’s cash flows from investing activities are closest to:
A. –$67.
B. –$48.
C. –$18.
D. –$10.
27. The company’s cash flows from financing activities are closest to:
A. –$81.
B. –$69.
C. –$49.
D. –$37.
28. Which of the following is NOT an accurate statement of the balance sheet equation?
A. Assets – Liabilities = Owners’ Equity.
B. Assets – Owners’ Equity = Liabilities.
C. Assets = Liabilities + Owners’ Equity.
D. Assets = Liabilities – Owners’ Equity.
29. Which of the following financial statements presents information about a business at a point in time?
A. Balance sheet
B. Income statement
C. Statement of cash flows
D. Statement of retained earnings
30. The responsibilities of the auditor of a company’s financial statements do NOT include a requirement to:
A. confirm assets and liabilities.
B. examine the company’s internal control systems.
C. verify that the financial statements are free from any any error.
D. agree that management’s choice of accounting principles is appropriate.
ECONOMICS: 30 Questions
31. When comparing gross national product (GNP) and gross domestic product (GDP), GDP is most likely to exclude:
A. net exports.
B. foreign security transactions.
C. income earned by citizens abroad.
D. payments for national income taxes.
32. Using the expenditure approach, gross domestic product includes gross:
A. income taxes paid.
B. salaries and wages paid.
C. imports from foreigners.
D. private domestic investment.
33. An analyst, calculating the gross domestic product for an economy, is most likely to include:
A. sales of services.
B. financial transactions.
C. sales of intermediate goods.
D. government transfer payments.
34. The presence of a surplus of a good in a market is most likely to result in a(n):
A. decrease in supply.
B. decrease in demand.
C. increase in supply elasticity.
D. increase in quantity demanded.
35. An analyst interested in understanding movements in the general level of prices throughout the economy is most likely to use the:
A. consumer price index (CPI).
B. gross domestic product (GDP) deflator.
C. weighted average of the CPI and the GDP deflator.
D. correlation coefficient between the CPI and the GDP deflator.
36. Which of the following is a limitation of GDP as a measure of aggregate economic activity? GDP excludes:
A. imports to foreigners.
B. production of household services.
C. governmental consumption of goods.
D. private investment in depreciable assets.
37. Which of the following statements about phases of the business cycle is most accurate?
A. During an expansion, real output grows and unemployment increases.
B. During contraction, real output declines and unemployment decreases.
C. The business peak is the highest output (measured in GDP) of an expansion.
D. The recessionary trough measures deviations of real GDP from the trend line.
38. An analyst calculating the unemployed rate is most likely to classify as unemployed persons who are:
A. retired.
B. not looking for work.
C. temporarily laid off from a job.
D. working in their own households.
39. Frictional unemployment results from:
A. inflexible wages in the marketplace.
B. recessionary business conditions and inadequate aggregate demand for labor.
C. structural characteristics of the economy that create difficulties for job seekers in finding employment and for employers in hiring workers.
D. constant changes in the economy that prevent qualified unemployed workers from being immediately matched up with existing job openings.
40. To be useful, a measure of inflation for an economy would most likely reflect information about the change in prices of:
A. goods only.
B. goods and services only.
C. goods, services, and financial assets only.
D. goods, services, financial assets, and real assets.
41. If the consumer price index is 252 this year compared with 240 last year, the rate of inflation for the year is closest to:
A. 4.76%.
B. 4.88%.
C. 5.00%.
D. 12.00%.
42. A period when an economy is experiencing substantial inflation and either a declining or slow rate of growth in output is called:
A. deflation.
B. stagflation.
C. depression.
D. contraction.
43. Which of the following is NOT a source of adverse effects of inflation on an economy? Inflation:
A. distorts the information delivered by prices.
B. affects product prices without changing underlying resource prices, such as wages, in the long run.
C. increases the uncertainty accompanying investment and other activities involving future payments.
D. causes wasted resources as individuals attempt to prevent the erosion of their income and wealth as a result of the inflation.
44. Aggregate demand is least likely to increase as a result of a(n):
A. increase in real wealth.
B. decrease in the real rate of interest.
C. increase in the expected rate of inflation.
D. increase in the exchange rate value of the nation’s currency.
45. Which of the following factors will decrease long-run aggregate supply?
A. Supply shocks.
B. A reduction in the supply of resources.
C. An improvement in technology and productivity.
D. Intensified competition in markets for goods and services.
46. Which of the following factors is least likely to play a role in the self-correcting mechanisms that help stabilize the economy? The pattern of:
A. price adjustments in resource markets.
B. changes in employment levels in labor markets.
C. interest rate adjustments in loanable funds markets.
D. changes in consumption in response to fluctuations in income.
47. The views of the classical economists and the Keynesian model differ with respect to the:
A. amount of flexibility in wages and prices.
B. level of the natural rate of unemployment.
C. appropriate definition of the money supply.
D. determinants of the long-run aggregate supply curve.
48. Which of the following conditions is present when macroeconomic equilibrium is achieved in the Keynesian model?
A. Autonomous expenditures are zero.
B. Planned imports and planned exports are equal.
C. Government spending levels and taxes are equal.
D. Planned expenditures and current output are equal.
49. An analyst has gathered the following consumption information:
Income Current Consumption
$20,000 $19,000
24,000 22,000
The marginal propensity to consume (MPC) is closest to:
A. 0.50.
B. 0.75.
C. 0.86.
D. 1.33.
50. According to the Keynesian model, if the marginal propensity to consume is 0.8, an independent increase in investment expenditures of $10 billion is most likely to lead to an increase in the equilibrium level of aggregate income of:
A. $8 billion.
B. $12.5 billion.
C. $50 billion.
D. $80 billion.
51. The law of demand states that an:
A. increase in price can be expected as consumers demand more units of a product.
B. inverse relationship exists between the price and the amount of a good purchased.
C. increase in price will result from an increase in demand for a good in scarce supply.
D. increase in the quantity of a good available will occur when the price of the good increases.
52. The law of supply states that:
A. a direct relationship exists between the price of a good and the amount supplied.
B. suppliers provide more of a good as the price of the resources needed to produce the good rises.
C. an inverse relationship exists between the price of a good and the amount purchased by suppliers.
D. an inverse relationship exists between the price of a good and the amount that buyers choose to purchase.
53. The price elasticity of demand for a commodity is determined primarily by the:
A. incomes of consumers.
B. size of the consumer surplus.
C. availability of complementary goods.
D. availability of substitutes for the goods.
54. In comparing the short-run and long-run responses of purchases to an unexpected increase in price, responses are typically:
A. larger in the short run than in the long run.
B. smaller in the short run than in the long run.
C. approximately the same in the short run as in the long run.
D. dependent, with respect to magnitude, on the level of competition in the market.
55. The demand for a good is least likely to decrease as the result of a:
A. fall in consumer income.
B. rise in the expected future price of the good.
C. fall in the number of consumers in the market.
D. rise in the price of a complementary good often used with the original good.
56. The supply of a good is least likely to increase as the result of:
A. favorable weather.
B. fall in the price of a resource used in producing the good.
C. an increase in the taxes imposed on the producers of the good.
D. a technological change allowing cheaper production of the good.
57. A shift in the demand curve for a good is least likely to result from:
A.increased price for the good.
B. increased incomes of buyers.
C.increased price of a substitute good.
D. decreased price of a complementary good.
58. Which of the following conditions is required for equilibrium in a market?
A. Producer surplus is minimized.
B. No restrictions exist on the movement of a good.
C. The quantity demanded must equal the quantity supplied.
D. The producer’s opportunity cost must equal the market price.
59. Which of the following conditions must be met to achieve economic efficiency?
A. All activities that produce more benefits than costs for the individuals within an economy are undertaken.
B. A large number of sellers exist that supply differentiated products to a market with low barriers to entry.
C. A small number of sellers exist that supply products at prices that reflect savings from economies of scale.
D. A large number of small companies exist producing an identical product in an industry that has complete freedom of entry and exit.
60. Which of the following factors is least likely to provide a valid basis for government action to improve the performance of markets?
A. Externalities
B. Public goods
C. Excessive competition among sellers
D. Incomplete information for market participants
MARKETS AND INSTRUMENTS: 5 Questions
61. The call feature associated with a corporate bond determines the:
A. date on which bondholders can request that their funds be repaid.
B. terms under which the borrowing company can redeem the bond prior to maturity.
C. conditions under which bondholders can request that the company add to its financial reserves.
D. requirements for the borrowing company to notify bondholders about material changes in its financial condition.
62. The seniority of a bond refers to the:
A. time remaining until the bond matures.
B. average age of the assets securing the bond.
C. time that has passed since the bond was issued.
D. priority of the bond’s claim on the company’s assets.
63. Yankee bonds are fixed-income securities that are issued:
A. in the US by non-US borrowers, paying interest in US dollars.
B. in the US by non-US borrowers, paying interest in a non-dollar currency.
C. outside the US by US borrowers, paying interest in US dollars.
D. outside the US by US borrowers, paying interest in a non-dollar currency.
64. Futures contracts provide for the:
A. optional delivery of an asset at a specified future date for a specified payment.
B. mandatory delivery of an asset at a specified future date for a specified payment.
C. optional delivery of an asset at a specified future date for a payment to be determined at the future date.
D. mandatory delivery of an asset at a specified future date for a payment to be determined at the future date.
65. A real estate investment trust provides a means for investing in:
A. a portfolio of real estate assets.
B. the non-US real estate assets of US companies.
C. the cash flows generated by rental payments on commercial property.
D. a portfolio of shares in companies that develop or own real estate assets.
Choose to be Rich Workbook
022808
Kiyosaki espouses that we must have a clear monthly record of all our financial concerns and whereabouts. The data I have presented here are rough drafts... Next month it will be more specific since I will start my record keeping...
Record Keeping
Personal Info
Name: RONALDO GUERRERO BORJA Date: February 28, 2008
Name: RONALDO GUERRERO BORJA
Address: Centro, POlangui, Albay
Date, Place of Birth: April 16, 1978; Sampaloc,Manila
Social Security Number: Lost
Debts (Auto, Education, Personal, Credit Card, Mortgage, other)
Other loan insitution: RUSI
Address: Diversion Road, Polangui, Albay
Phone Number: 09275359634
Account Number:
Interest Rate:
Monthly Payment: P1,530 if on/before the due date; P1,730 after the due date
Total Balance Due: P41,520 (based on the after the due date figure)
(with date prepared)
Bank Accounts (Checking, Savings, CDs, Credit Union, Other)
Bank Name: G7 Bank
Type of Account: Savings
Account Number: 17898-12
Address: Ubaliw, Polangui, Albay
Phone Number:
Contact: Jonie Tinoco
Interest Rate:
Average Monthly Income:
Total Balance P503.05
(with date prepared)
Bank Name: Legazpi Savings Bank Bank
Type of Account: Savings
Account Number: 004-01-6601
Address: Basud, Polangui, Albay
Phone Number:
Contact:
Interest Rate: Effective Rate of interest of 2% per annum
Average Monthly Income:
Total Balance P4,003.07
(with date prepared)
Bank Name: Camalig Bank
Type of Account: Savings
Account Number: 18928
Address: Camalig, Albay
Phone Number:
Contact:
Interest Rate:
Average Monthly Income:
Total Balance P184.50
(with date prepared)
Brokerage Accounts (Stocks, Bonds, Mutual Funds) = 0
Investments held directly by you = 0
Real Estate Investments = 0
Retirement Plans = 0
Insurance Plans = 0
I AM SO HAPPY AND GREATFUL NOW THAT…
022908
1. I am successful!
2. I am a money magnet!
3. I have lots of friends!
4. I have lots of support!
A reader of our's have emailed me to post the CFA Exam that I took last February 23. I have already posted the answers and principles of the wrong answers I had. Now I am posting the whole exam. I encourage everyone to try and answer the said self-assessment test. Have fun...
You can send your answers at the comments section of the blog... Good Luck!
The CFA Program is postgraduate. The readings assigned in the study program and the questions on
the CFA examinations are geared for individuals who are prepared to deal with “masters”-level
coursework. Although many candidates enter the program with a business school education, others
may have a liberal arts background. No prerequisite courses of study are specified for entering the
CFA Program, but candidates should be aware that the assigned readings in many topic areas are
beyond a basic, introductory level.
The Level I Financial Statement Analysis material is directed at an intermediate/advanced level of
understanding. Before entering the CFA Program, candidates should be familiar with financial
accounting methods and financial statements. Candidates without a strong accounting background
or who need to refresh their accounting knowledge should review an intermediate financial
accounting textbook or enroll in a local university financial accounting course.
The Level I Economic Analysis material is also directed at an intermediate level of understanding.
Before entering the program, candidates already should be familiar with the principles of
macroeconomics, microeconomics, and the monetary system. If candidates do not have this
educational background or they wish to refresh their understanding of this material, a review of an
introductory level textbook or enrollment in a local university economics survey course is
appropriate.
The Level I curriculum in general assumes a basic understanding of financial markets and
instruments. Before entering the program, candidates should be familiar with the basic
characteristics of equity and fixed income markets and securities. Candidates without that
familiarity should review an introductory level textbook that addresses financial markets and
instruments.
The self-assessment test is designed to help candidates determine their need to review pre-CFA
materials. An answer key is provided at the end of the test. Candidates scoring less than 70 percent
correct in any one topic area should commit to additional study time preparing for that area prior to
or in conjunction with the CFA study program.
CFA Candidate Self-Assessment Test
Questions
FINANCIAL STATEMENT ANALYSIS: 30 Questions
Note to candidates: Questions 1 through 30 are based on U.S. generally accepted accounting
principles (GAAP) unless otherwise noted.
1. Accrual accounting techniques are used to:
A. assign revenues and expenses to the appropriate accounting period.
B. record the anticipated effects of actions that may occur at a future date.
C. report the results of actions whose monetary effects are difficult to estimate.
D. allocate nonoperating revenues and expenses to the appropriate business unit.
2. Which of the following is NOT considered an asset?
A. Inventory
B. Trademarks
C. Retained earnings
D. Accounts receivable
Use the information in the following table to answer Questions 3 and 4.
Black Company
Balance Sheet
December 31, 200X
Assets
Cash $100,000
Short-term investments 50,000
Accounts and notes receivable 130,000
Inventory 140,000
Land 170,000
Building $200,000
less accumulated depreciation (40,000) 160,000
Trademarks 110,000
Total Assets $860,000
Liabilities
Notes payable (due in 3 months) $80,000
Accounts payable 40,000
Accrued salaries payable 10,000
Mortgage payable (due in 8 years) 180,000
Total Liabilities $310,000
Stockholders’ Equity
Common stock $500,000
Retained earnings 50,000
Total Stockholder's Equity $550,000
Total Liabilities and Stockholders’ Equity $860,000
3. The total amount of Black Company’s assets to be classified as current assets is:
A. $150,000.
B. $280,000.
C. $420,000.
D. $590,000.
4. The net amount of Black Company’s earnings that has been reinvested in the company since the company’s inception is closest to:
A. $50,000.
B. $100,000.
C. $500,000.
D. $550,000.
5. When accounting for merchandising businesses, gross margin equals the difference between:
A. net sales and cost of goods sold.
B. net sales and operating expenses.
C. gross sales and the sum of returns and allowances.
D. net sales and the sum of cost of goods sold and operating expenses.
6. Which of the following would NOT contribute to the difference between gross sales and net sales?
A. Cash refunds for returned products.
B. Discounts from listed prices for delayed shipping.
C. Allowances off selling prices for defective products.
D. Sales made on credit rather than for immediate payment.
7. Classifying an investment as short-term or long-term depends primarily on:
A. the dollar amount of the investment.
B. the length of time the investor has held the investment.
C. whether a liquid market exists for selling the investment.
D. the length of time the investor expects to hold the investment.
8. Under the allowance method for accounting for uncollectible accounts:
A. losses from bad debts are recognized when defaults occur.
B. estimated losses from potentially uncollectible debt are amortized over the life of the obligation.
C. loans to high-risk borrowers are recorded at a discount relative to their stated principal amounts.
D. losses from bad debts are estimated for the same period in which the corresponding credit sales occur.
9. A company’s cost of inventory purchases was $250,000 during the year, its ending inventory was $80,000, and its beginning inventory was $100,000. The company’s cost of goods sold was closest to:
A. $170,000.
B. $270,000.
C. $330,000.
D. $370,000.
10. Inventory valuation methods rely primarily on assumptions about the flow of:
A. costs.
B. values.
C. money.
D. resale prices.
11. For a company with new fixed assets, which of the following combinations of accounting practices will most likely lead to the highest reported earnings in an inflationary environment?
Depreciation Method Inventory Method
A. Straight-line First in, first out (FIFO)
D. Straight-line Last in, first out (LIFO)
B. Double-declining-balance First in, first out (FIFO)
C. Double-declining-balance Last in, first out (LIFO)
12. In a period of rising prices, which of the following inventory methods generally results in the lowest reported net income?
A. FIFO method.
B. LIFO method.
C. Average-cost method.
D. Specific-identification method.
13. In a period of rising prices and stable inventory quantities, compared to a company that uses the FIFO inventory valuation method, a company using LIFO is likely to have higher:
A. inventory.
B. income taxes.
C. current assets.
D. cost of goods sold.
14. If a company’s ending inventory is understated by $3,000 and beginning inventory is overstated by $5,000, the company’s operating income will most likely be:
A. overstated by $2,000.
B. overstated by $8,000.
C. understated by $2,000.
D. understated by $8,000.
15. When applying the lower-of-cost-or-market rule to inventory, market generally refers to:
A. resale value.
B. original cost.
C. current replacement cost.
D. original cost less physical deterioration.
16. A company bought a truck on January 1 for $30,000. The truck has a five-year estimated useful life and a $5,000 residual value. Under the straight-line depreciation method, the asset’s carrying value for financial reporting purposes after two years is closest to:
A. $16,000.
B. $18,000.
C. $20,000.
D. $21,000.
17. For purposes of determining the amount of a capital expenditure, the acquisition cost of equipment would NOT include:
A. transportation cost.
B. insurance cost during transit.
C. cost of testing equipment during installation.
D. repair cost of damage incurred during installation.
18. Depreciation differs from other types of expenses in that depreciation:
A. can be measured more precisely.
B. does not require an immediate cash outlay.
C. is not deductible if it would result in a net loss.
D. can be avoided if the company acquires used assets.
19. If a company issued bonds at a discount, the discount is amortized over the life of the bonds and:
A. decreases the periodic interest payment below the interest expense charged.
B. increases the periodic interest expense charged above the interest payment made.
C. increases the periodic interest payment made above the interest expense charged.
D. decreases the periodic interest expense charged below the interest payment made.
20. On a company’s balance sheet, which of the following would NOT be listed as contributed capital?
A. Common stock
B. Preferred stock
C. Retained earnings
D. Paid-in-capital in excess of par value
21. Which of the following accurately describes the effects of a purchase of treasury stock on a company’s assets and stockholders’ equity?
Assets Stockholders’ Equity
A. Decreased Decreased
B. Decreased Unchanged
C. Unchanged Decreased
D. Unchanged Unchanged
22. If a corporation declares and pays a dividend, this transaction will:
A. increase liabilities.
B. decrease net income.
C. not affect total assets.
D. reduce stockholders’ equity.
23. A company’s assets and stockholders’ equity are most likely to be reduced by:
A. stock splits.
B. cash dividends.
C. stock dividends.
D. reverse stock splits.
24. The financial results from a discontinued operation should be reflected on a company’s financial statements by:
A. discussing the effects in a footnote.
B. adjusting the company’s reported costs.
C. adjusting the company’s reported net revenue.
D. reporting the effects separately on the income statement.
Questions 25 through 27 should be answered in the context of a statement of cash flows and using the following data for a company:
Cash payments for interest $ 12
Retirement of common stock 32
Cash payments to merchandise suppliers 85
Purchase of land 8
Sale of equipment 30
Payment of dividends 37
Cash payment for salaries 35
Cash collection from customers 260
Purchase of equipment 40
25. The company’s cash flows from operating activities are closest to:
A. $91.
B. $128.
C. $140.
D. $175.
26. The company’s cash flows from investing activities are closest to:
A. –$67.
B. –$48.
C. –$18.
D. –$10.
27. The company’s cash flows from financing activities are closest to:
A. –$81.
B. –$69.
C. –$49.
D. –$37.
28. Which of the following is NOT an accurate statement of the balance sheet equation?
A. Assets – Liabilities = Owners’ Equity.
B. Assets – Owners’ Equity = Liabilities.
C. Assets = Liabilities + Owners’ Equity.
D. Assets = Liabilities – Owners’ Equity.
29. Which of the following financial statements presents information about a business at a point in time?
A. Balance sheet
B. Income statement
C. Statement of cash flows
D. Statement of retained earnings
30. The responsibilities of the auditor of a company’s financial statements do NOT include a requirement to:
A. confirm assets and liabilities.
B. examine the company’s internal control systems.
C. verify that the financial statements are free from any any error.
D. agree that management’s choice of accounting principles is appropriate.
ECONOMICS: 30 Questions
31. When comparing gross national product (GNP) and gross domestic product (GDP), GDP is most likely to exclude:
A. net exports.
B. foreign security transactions.
C. income earned by citizens abroad.
D. payments for national income taxes.
32. Using the expenditure approach, gross domestic product includes gross:
A. income taxes paid.
B. salaries and wages paid.
C. imports from foreigners.
D. private domestic investment.
33. An analyst, calculating the gross domestic product for an economy, is most likely to include:
A. sales of services.
B. financial transactions.
C. sales of intermediate goods.
D. government transfer payments.
34. The presence of a surplus of a good in a market is most likely to result in a(n):
A. decrease in supply.
B. decrease in demand.
C. increase in supply elasticity.
D. increase in quantity demanded.
35. An analyst interested in understanding movements in the general level of prices throughout the economy is most likely to use the:
A. consumer price index (CPI).
B. gross domestic product (GDP) deflator.
C. weighted average of the CPI and the GDP deflator.
D. correlation coefficient between the CPI and the GDP deflator.
36. Which of the following is a limitation of GDP as a measure of aggregate economic activity? GDP excludes:
A. imports to foreigners.
B. production of household services.
C. governmental consumption of goods.
D. private investment in depreciable assets.
37. Which of the following statements about phases of the business cycle is most accurate?
A. During an expansion, real output grows and unemployment increases.
B. During contraction, real output declines and unemployment decreases.
C. The business peak is the highest output (measured in GDP) of an expansion.
D. The recessionary trough measures deviations of real GDP from the trend line.
38. An analyst calculating the unemployed rate is most likely to classify as unemployed persons who are:
A. retired.
B. not looking for work.
C. temporarily laid off from a job.
D. working in their own households.
39. Frictional unemployment results from:
A. inflexible wages in the marketplace.
B. recessionary business conditions and inadequate aggregate demand for labor.
C. structural characteristics of the economy that create difficulties for job seekers in finding employment and for employers in hiring workers.
D. constant changes in the economy that prevent qualified unemployed workers from being immediately matched up with existing job openings.
40. To be useful, a measure of inflation for an economy would most likely reflect information about the change in prices of:
A. goods only.
B. goods and services only.
C. goods, services, and financial assets only.
D. goods, services, financial assets, and real assets.
41. If the consumer price index is 252 this year compared with 240 last year, the rate of inflation for the year is closest to:
A. 4.76%.
B. 4.88%.
C. 5.00%.
D. 12.00%.
42. A period when an economy is experiencing substantial inflation and either a declining or slow rate of growth in output is called:
A. deflation.
B. stagflation.
C. depression.
D. contraction.
43. Which of the following is NOT a source of adverse effects of inflation on an economy? Inflation:
A. distorts the information delivered by prices.
B. affects product prices without changing underlying resource prices, such as wages, in the long run.
C. increases the uncertainty accompanying investment and other activities involving future payments.
D. causes wasted resources as individuals attempt to prevent the erosion of their income and wealth as a result of the inflation.
44. Aggregate demand is least likely to increase as a result of a(n):
A. increase in real wealth.
B. decrease in the real rate of interest.
C. increase in the expected rate of inflation.
D. increase in the exchange rate value of the nation’s currency.
45. Which of the following factors will decrease long-run aggregate supply?
A. Supply shocks.
B. A reduction in the supply of resources.
C. An improvement in technology and productivity.
D. Intensified competition in markets for goods and services.
46. Which of the following factors is least likely to play a role in the self-correcting mechanisms that help stabilize the economy? The pattern of:
A. price adjustments in resource markets.
B. changes in employment levels in labor markets.
C. interest rate adjustments in loanable funds markets.
D. changes in consumption in response to fluctuations in income.
47. The views of the classical economists and the Keynesian model differ with respect to the:
A. amount of flexibility in wages and prices.
B. level of the natural rate of unemployment.
C. appropriate definition of the money supply.
D. determinants of the long-run aggregate supply curve.
48. Which of the following conditions is present when macroeconomic equilibrium is achieved in the Keynesian model?
A. Autonomous expenditures are zero.
B. Planned imports and planned exports are equal.
C. Government spending levels and taxes are equal.
D. Planned expenditures and current output are equal.
49. An analyst has gathered the following consumption information:
Income Current Consumption
$20,000 $19,000
24,000 22,000
The marginal propensity to consume (MPC) is closest to:
A. 0.50.
B. 0.75.
C. 0.86.
D. 1.33.
50. According to the Keynesian model, if the marginal propensity to consume is 0.8, an independent increase in investment expenditures of $10 billion is most likely to lead to an increase in the equilibrium level of aggregate income of:
A. $8 billion.
B. $12.5 billion.
C. $50 billion.
D. $80 billion.
51. The law of demand states that an:
A. increase in price can be expected as consumers demand more units of a product.
B. inverse relationship exists between the price and the amount of a good purchased.
C. increase in price will result from an increase in demand for a good in scarce supply.
D. increase in the quantity of a good available will occur when the price of the good increases.
52. The law of supply states that:
A. a direct relationship exists between the price of a good and the amount supplied.
B. suppliers provide more of a good as the price of the resources needed to produce the good rises.
C. an inverse relationship exists between the price of a good and the amount purchased by suppliers.
D. an inverse relationship exists between the price of a good and the amount that buyers choose to purchase.
53. The price elasticity of demand for a commodity is determined primarily by the:
A. incomes of consumers.
B. size of the consumer surplus.
C. availability of complementary goods.
D. availability of substitutes for the goods.
54. In comparing the short-run and long-run responses of purchases to an unexpected increase in price, responses are typically:
A. larger in the short run than in the long run.
B. smaller in the short run than in the long run.
C. approximately the same in the short run as in the long run.
D. dependent, with respect to magnitude, on the level of competition in the market.
55. The demand for a good is least likely to decrease as the result of a:
A. fall in consumer income.
B. rise in the expected future price of the good.
C. fall in the number of consumers in the market.
D. rise in the price of a complementary good often used with the original good.
56. The supply of a good is least likely to increase as the result of:
A. favorable weather.
B. fall in the price of a resource used in producing the good.
C. an increase in the taxes imposed on the producers of the good.
D. a technological change allowing cheaper production of the good.
57. A shift in the demand curve for a good is least likely to result from:
A.increased price for the good.
B. increased incomes of buyers.
C.increased price of a substitute good.
D. decreased price of a complementary good.
58. Which of the following conditions is required for equilibrium in a market?
A. Producer surplus is minimized.
B. No restrictions exist on the movement of a good.
C. The quantity demanded must equal the quantity supplied.
D. The producer’s opportunity cost must equal the market price.
59. Which of the following conditions must be met to achieve economic efficiency?
A. All activities that produce more benefits than costs for the individuals within an economy are undertaken.
B. A large number of sellers exist that supply differentiated products to a market with low barriers to entry.
C. A small number of sellers exist that supply products at prices that reflect savings from economies of scale.
D. A large number of small companies exist producing an identical product in an industry that has complete freedom of entry and exit.
60. Which of the following factors is least likely to provide a valid basis for government action to improve the performance of markets?
A. Externalities
B. Public goods
C. Excessive competition among sellers
D. Incomplete information for market participants
MARKETS AND INSTRUMENTS: 5 Questions
61. The call feature associated with a corporate bond determines the:
A. date on which bondholders can request that their funds be repaid.
B. terms under which the borrowing company can redeem the bond prior to maturity.
C. conditions under which bondholders can request that the company add to its financial reserves.
D. requirements for the borrowing company to notify bondholders about material changes in its financial condition.
62. The seniority of a bond refers to the:
A. time remaining until the bond matures.
B. average age of the assets securing the bond.
C. time that has passed since the bond was issued.
D. priority of the bond’s claim on the company’s assets.
63. Yankee bonds are fixed-income securities that are issued:
A. in the US by non-US borrowers, paying interest in US dollars.
B. in the US by non-US borrowers, paying interest in a non-dollar currency.
C. outside the US by US borrowers, paying interest in US dollars.
D. outside the US by US borrowers, paying interest in a non-dollar currency.
64. Futures contracts provide for the:
A. optional delivery of an asset at a specified future date for a specified payment.
B. mandatory delivery of an asset at a specified future date for a specified payment.
C. optional delivery of an asset at a specified future date for a payment to be determined at the future date.
D. mandatory delivery of an asset at a specified future date for a payment to be determined at the future date.
65. A real estate investment trust provides a means for investing in:
A. a portfolio of real estate assets.
B. the non-US real estate assets of US companies.
C. the cash flows generated by rental payments on commercial property.
D. a portfolio of shares in companies that develop or own real estate assets.
Choose to be Rich Workbook
022808
Kiyosaki espouses that we must have a clear monthly record of all our financial concerns and whereabouts. The data I have presented here are rough drafts... Next month it will be more specific since I will start my record keeping...
Record Keeping
Personal Info
Name: RONALDO GUERRERO BORJA Date: February 28, 2008
Name: RONALDO GUERRERO BORJA
Address: Centro, POlangui, Albay
Date, Place of Birth: April 16, 1978; Sampaloc,Manila
Social Security Number: Lost
Debts (Auto, Education, Personal, Credit Card, Mortgage, other)
Other loan insitution: RUSI
Address: Diversion Road, Polangui, Albay
Phone Number: 09275359634
Account Number:
Interest Rate:
Monthly Payment: P1,530 if on/before the due date; P1,730 after the due date
Total Balance Due: P41,520 (based on the after the due date figure)
(with date prepared)
Bank Accounts (Checking, Savings, CDs, Credit Union, Other)
Bank Name: G7 Bank
Type of Account: Savings
Account Number: 17898-12
Address: Ubaliw, Polangui, Albay
Phone Number:
Contact: Jonie Tinoco
Interest Rate:
Average Monthly Income:
Total Balance P503.05
(with date prepared)
Bank Name: Legazpi Savings Bank Bank
Type of Account: Savings
Account Number: 004-01-6601
Address: Basud, Polangui, Albay
Phone Number:
Contact:
Interest Rate: Effective Rate of interest of 2% per annum
Average Monthly Income:
Total Balance P4,003.07
(with date prepared)
Bank Name: Camalig Bank
Type of Account: Savings
Account Number: 18928
Address: Camalig, Albay
Phone Number:
Contact:
Interest Rate:
Average Monthly Income:
Total Balance P184.50
(with date prepared)
Brokerage Accounts (Stocks, Bonds, Mutual Funds) = 0
Investments held directly by you = 0
Real Estate Investments = 0
Retirement Plans = 0
Insurance Plans = 0
I AM SO HAPPY AND GREATFUL NOW THAT…
022908
1. I am successful!
2. I am a money magnet!
3. I have lots of friends!
4. I have lots of support!
SK MODULE III
SK MODULE III
As SK (youth leaders) it is very much important that they know the structure and dynamism of our government. This module discusses the said topic.
PHILIPPINE GOVERNMENT
1. 3 BRANCHES OF GOVERNMENT
A. Executive
B. Legislative
C. Judiciary
INDEPENDENT COMMISSIONS
A. CSC
B. COA
C. COMELEC
2. LOCAL GOVERNMENT
HEIRARCHY/POLITICAL SUBDIVISION
A. Provincial Government
B. City/Municipal Government
C. Barangay Government
Categories of City
1. Highly Urbanized City
- totally independent of the supervision of the province
2. Independent Component City
- territorially a part of the province, but voters do not vote for the Provincial Officials
3. Component City
- territorially within a province, voters vote for provincial officials
Special Feature of Local Government Structure
1. Autonomous Region of Muslim Mindanao (ARMM)
2. National Capital Region (NCR)
* These are considered regional government
GENERAL SUPERVISION BASED ON HIERARCHY
- Generally, the President exercises direct supervision over local Government Units (Province, City, and Municipality and over barangays through the city/municipality)
- Province exercises supervision over the city/municipality
- City/Municipality exercises direct supervision over barangays
- Barangay exercises general supervision over SK
(Sec. 389. b, 11, LGC of 1991)
Local Goverment Code (LGC) OF 1991
- LGC was passed because of decentralization efforts
- Decentralization means sharing of power and authority between central or national governments and local governments
Forms of decentralization
Deconcentration – the transfer of power, authority and responsibility to lower levels within the central government itself.
Devolution – the transfer of power and authority from the central government to the LGUs
Debureaucratization or privatization – sharing of public functions and responsibilities w/ private entities/NGOs
Relationship of National Government and LGUs
- Before, National Government exercised major political powers and even greater responsibilities in the delivery of basic services
- At present, the LGUs are given autonomy, has political and proprietory functions including corporate functions
- Central government transfer delivery of basic services to the LGUs
- Less intervention from the national government (except in exceptional cases)
Devolved Basic Services to LGUs
- Health Services
- Agriculture
- Social Services and Welfare
- Public Works
- Environmental and Natural Concerns
On Constitutional and LGC off 1991 Mandate
- Sec. 13 Art. II “the State recognizes the vital role of the youth to nation building and shall promote and protect their physical, moral, spiritual, intellectual and social being”
- RA 7160 (LGC of 1991) “Every Barangay shall have a Katipunan ng Kabataan the primary objective is to enhance the social, political economic, cultural, intellectual, moral, spiritual and physical development of members”. The Katipunan ng Kabataan shall be the asembly of youth in the barangay.
Choose to be Rich Workbook
022708
This is the format of calculating the net business income... Next time I will fill it up with the KKK (Youth) Coop accounts...
Business
Income
Sales
Other
Total Income A
Expenses
Cost of goods sold
Admin Cost
Taxes
Other
Total Expenses B
Total Income A - Total Expenses B = Net Business Income
I AM SO HAPPY AND GREATFUL NOW THAT…
022708
1. The KKK is having birth pains but it is on its way to ts goal!
2. Health and wealth is mine!
3. Opportunities are presenting themselves!
4. I will earn my first million this year!
As SK (youth leaders) it is very much important that they know the structure and dynamism of our government. This module discusses the said topic.
PHILIPPINE GOVERNMENT
1. 3 BRANCHES OF GOVERNMENT
A. Executive
B. Legislative
C. Judiciary
INDEPENDENT COMMISSIONS
A. CSC
B. COA
C. COMELEC
2. LOCAL GOVERNMENT
HEIRARCHY/POLITICAL SUBDIVISION
A. Provincial Government
B. City/Municipal Government
C. Barangay Government
Categories of City
1. Highly Urbanized City
- totally independent of the supervision of the province
2. Independent Component City
- territorially a part of the province, but voters do not vote for the Provincial Officials
3. Component City
- territorially within a province, voters vote for provincial officials
Special Feature of Local Government Structure
1. Autonomous Region of Muslim Mindanao (ARMM)
2. National Capital Region (NCR)
* These are considered regional government
GENERAL SUPERVISION BASED ON HIERARCHY
- Generally, the President exercises direct supervision over local Government Units (Province, City, and Municipality and over barangays through the city/municipality)
- Province exercises supervision over the city/municipality
- City/Municipality exercises direct supervision over barangays
- Barangay exercises general supervision over SK
(Sec. 389. b, 11, LGC of 1991)
Local Goverment Code (LGC) OF 1991
- LGC was passed because of decentralization efforts
- Decentralization means sharing of power and authority between central or national governments and local governments
Forms of decentralization
Deconcentration – the transfer of power, authority and responsibility to lower levels within the central government itself.
Devolution – the transfer of power and authority from the central government to the LGUs
Debureaucratization or privatization – sharing of public functions and responsibilities w/ private entities/NGOs
Relationship of National Government and LGUs
- Before, National Government exercised major political powers and even greater responsibilities in the delivery of basic services
- At present, the LGUs are given autonomy, has political and proprietory functions including corporate functions
- Central government transfer delivery of basic services to the LGUs
- Less intervention from the national government (except in exceptional cases)
Devolved Basic Services to LGUs
- Health Services
- Agriculture
- Social Services and Welfare
- Public Works
- Environmental and Natural Concerns
On Constitutional and LGC off 1991 Mandate
- Sec. 13 Art. II “the State recognizes the vital role of the youth to nation building and shall promote and protect their physical, moral, spiritual, intellectual and social being”
- RA 7160 (LGC of 1991) “Every Barangay shall have a Katipunan ng Kabataan the primary objective is to enhance the social, political economic, cultural, intellectual, moral, spiritual and physical development of members”. The Katipunan ng Kabataan shall be the asembly of youth in the barangay.
Choose to be Rich Workbook
022708
This is the format of calculating the net business income... Next time I will fill it up with the KKK (Youth) Coop accounts...
Business
Income
Sales
Other
Total Income A
Expenses
Cost of goods sold
Admin Cost
Taxes
Other
Total Expenses B
Total Income A - Total Expenses B = Net Business Income
I AM SO HAPPY AND GREATFUL NOW THAT…
022708
1. The KKK is having birth pains but it is on its way to ts goal!
2. Health and wealth is mine!
3. Opportunities are presenting themselves!
4. I will earn my first million this year!
SK LETRA MODULE II
The topic today is more about the purpose, responsibilities and privileges of the Sangguniang Kabataan and Katipunan ng Kabataan.
Katipunan ng Kabataan
Organization and Purpose:
“Every barangay shall have a Katipunan ng Kabataan, the primary objective of which is to enhance the the social, political economic, cultural, intellectual, moral, spiritual and physical development of the youth of the country”
Membership:
- The Katipunan ng mga Kabataan shall be composed of all the Filipino Citizens at least 15 but not more than twenty years of age
- Actual residents in the barangay for at least six months
- Registered in the SK, or in official list in the custody of the barangay secretary
Rights and Duties:
- Eligible to vote in the SK Elections
- Eligible to be elected in the SK Elections
- Participate in all activities as maybe adopted by them, promulgated by the SK or as my be provided by law
(provided such participation shall be subject to the provisions of the code, existing rules and laws.
Rights and Duties:
- Eligible to vote in the SK Elections
- Eligible to be elected in the SK Elections
- Participate in all activities as maybe adopted by them, promulgated by the SK or as my be provided by law
(provided such participation shall be subject to the provisions of the code, existing rules and laws.
Creation and Composition:
There shall be in every barangay a Sangguniang Kabataan to be composed of
* Chairman - elected
* Seven Members - elected
* Secretary – appointed w/ concurrence
* Treasurer – appointed w/ concurrence
Power and Functions of the SK:
- Promulgate resolutions necessary to carry out objectives of the youth
- Initiate programs of designed to enhance the social, political, economic, culture, intellectual, moral, spiritual and physical development of the members
- Hold fund-raising activities
- Create bodies or committees as necessary
- Submit annual and end-term reports to the Sangguniang Barangay
- Consult and coordinate with all youth organizations in the barangay for policy formulation and program implementation
- Coordinate with the NYC and other development projects and programs at the national level
- Exercise other powers and duties as SB may determine or delegate or as may be prescribed by law or ordinance
Qualifications of elective members of SK:
- A citizen of the Philippines
- A qualified voter of KK
- A Resident in the barangay at least one year immediately prior to election
- At least 15 but not more than 21 years od age on the day of his election
- Able to read and write Filipino, local dialect or English
- Not have been convicted of any crime involving moral turpitude
SK Chairman
- Serve as an ex-officio member of the SB (exercise same powers, discharge same duties and enjoy same privileges)
- Serve ass the chairman of the committee on youth and sport development of SB
- Serve as the member of barangay development council
Power and duties of the SK Chairman:
- Call and preside over all meetings of the Katipunan ng Kabataan and the SK
- Implement policies, programs and projects within his jurisdiction in coordination with the SB
- Exercise general supervision over the affairs and activities of the SK and the official conduct of its members, and other officers
- With concurrence of the SK, appoint from among the members the secretary and treasurer, and other officers as necessary
- Exercise other powers, duties, functions as prescribed by law or ordinance
Sangguniang Kabataan Secretary
Duties & Functions of the SK Secretary:
- Keep all records of the KK and SK
- Prepare and keep the minutes of all meetings of the KK and SK
- Prepare all forms necessary for the conduct of registrations, elections, initiatives, referenda, or plebiscites (in coordination with BS and COMELEC)
- Perform such other duties and discharge functions as the chairman of SK may prescribe or direct
Sangguniang Kabataan Treasurer
Duties & Functions of the SK Treasurer:
- Take custody of all SK property and funds not otherwise deposited with city or municipal treasurer
- Collect and receive contributions, monies, materials and other resources intended for the SK and KK
- Disburse SK Funds in accordance with approved budget
- Certify to the availability of funds whenever necessary
- Submit to the SK and to the SB certified and detailed statements of actual income and expenditures at the end of every month
- Perform such other duties and discharge other functions as the chairman of the SK may direct
Meeting of the SK
* The SK shall meet regularly every once a month on the day, time and place to be fixed by the said sanggunian
* Special meetings may be called by the chairman or any 3 of its members by giving notice to all members of the date, time, place, and agenda of the meeting at least 1 day in advance
* Notices of meetings shall be furnished to PB and SB
* Majority of the members shall constitute a quorum
Election and Term of Office
* Election shall be held on the last Monday of October and every three years thereafter
* SK members elected shall serve for three years or until such time as their successors shall have been elected or sooner removed for cause or had become incapacitated
* An SK Official who passed the age of 21 years shall be allowed to serve for the remaining portion of the term for which he was elected
Succession and Filling of Vacancies
* If the SK chairman is refused, incapacitated, removed for cause or dies, the SK member who obtained the highest number of vote shall assume office of the chairman for the unexpired portion of the term
* If the member refused to assume or fails to qualify or have been incapacitated or removed for cause, the SK member obtaining the next highest number of votes shall assume the position
* If two or more members obtained the same next higher number of votes, the SK members shall conduct an election
* After the vacancy have been filled, the SK chairman shall call for a special election to complete the membership of said sanggunian.
* In case of suspension of the SK Chairman, the successor as previously discussed shall assume the position
Privileges and Benefits
- SK Chairman shall enjoy the same privileges enjoyed by SB members
- SK Officials shall be exempt from payment of tuition fees and matriculation fees while enrolled in tertiary public schools (Provided they enroll in the state college or university within or nearest their area of jurisdiction)
Pederasyon ng Sangguniang Kabataan
Organization:
Pambayang Pederasyon ng SK (Municipalities)
Panlungsod na Pederasyon ng SK (Cities)
Panlalawigangg Pederasyon ng SK (Province)
Pangmetropolitang Pederasyon ng SK (special metropolitan political subdivisions)
Pambansang Pederasyon ng SK (National)
Choose to be Rich Workbook
022608
One of the tough assignment of the book by Kiyosaki is preparing your financial statement mnthly... I have prepared a rough estimation of my financial statement for February... Now i am reading where am I financially...
Next month it will be more specified since I will start my record keeping...
My Financial Statement
Income
Earned Income
Job and self employment P14,794 + P3,400 = P18,194
Passive Income
Real Estate (Net) 0
Business (Net) 0
Passive Income Total 0
Portfolio Income
Interest 0
Dividends 0
Royalties 0
Portfolio Income Total 0
Total Income (Earned + Passive + Portfolio) P18,194
Expenses
Taxes ????
Credit Card Payments 0
Home Mortagage (Rent)
Car Payments (Motorcycle) P1,730
Food and Clothing 4,300
Other Payments 10,000
Total Expenses P16,030+
NET MONTHLY CASH FLOW P 2,164-
(Total Income less Total Expenses)
Assets
Bank Accounts P4,690.50
Stocks 0
Bonds 0
Receivables 0
Real Estate (Fair Market Value less Mortgage) 0
Business Value (Net) 0
Assets Subtotal P4,690.50
Doodads
Home 0
Car (Motorcycle) P41,520 (present value)
Other (Laptop) P25,000
Doodads Total P66,520
Total Assets per Banker (Assets Subtotal + Doodads) = P71,210.5
Total Assets per Rich Dad (Assets Subtotal only, do not add doodads) =
P4,690.50
Liabilities
Credit Cards
Car Loans (Motorcycle) P41,520
School and Personal LOans 0
Home Mortgage Loan 0
Other Debt (Bank LOans) 31,025 + 80,073 = P111,098
Total Liabilities P152,618
Net Worth per banker (Total Assets per banker less total liabilities) =
-P81,407.5
Net Worth per Rich Dad (Total Assets per Rich dad less total liabilities) =
-P147,927.50
I AM SO HAPPY AND GREATFUL NOW THAT…
022608
1. Now that I know where I am financially... That I can change my situation and become financially free
2. I will have my first million this year!
3. My family members and my loved ones are all wealthy and happy!
4. I am amidst abundance and prosperity!
Katipunan ng Kabataan
Organization and Purpose:
“Every barangay shall have a Katipunan ng Kabataan, the primary objective of which is to enhance the the social, political economic, cultural, intellectual, moral, spiritual and physical development of the youth of the country”
Membership:
- The Katipunan ng mga Kabataan shall be composed of all the Filipino Citizens at least 15 but not more than twenty years of age
- Actual residents in the barangay for at least six months
- Registered in the SK, or in official list in the custody of the barangay secretary
Rights and Duties:
- Eligible to vote in the SK Elections
- Eligible to be elected in the SK Elections
- Participate in all activities as maybe adopted by them, promulgated by the SK or as my be provided by law
(provided such participation shall be subject to the provisions of the code, existing rules and laws.
Rights and Duties:
- Eligible to vote in the SK Elections
- Eligible to be elected in the SK Elections
- Participate in all activities as maybe adopted by them, promulgated by the SK or as my be provided by law
(provided such participation shall be subject to the provisions of the code, existing rules and laws.
Creation and Composition:
There shall be in every barangay a Sangguniang Kabataan to be composed of
* Chairman - elected
* Seven Members - elected
* Secretary – appointed w/ concurrence
* Treasurer – appointed w/ concurrence
Power and Functions of the SK:
- Promulgate resolutions necessary to carry out objectives of the youth
- Initiate programs of designed to enhance the social, political, economic, culture, intellectual, moral, spiritual and physical development of the members
- Hold fund-raising activities
- Create bodies or committees as necessary
- Submit annual and end-term reports to the Sangguniang Barangay
- Consult and coordinate with all youth organizations in the barangay for policy formulation and program implementation
- Coordinate with the NYC and other development projects and programs at the national level
- Exercise other powers and duties as SB may determine or delegate or as may be prescribed by law or ordinance
Qualifications of elective members of SK:
- A citizen of the Philippines
- A qualified voter of KK
- A Resident in the barangay at least one year immediately prior to election
- At least 15 but not more than 21 years od age on the day of his election
- Able to read and write Filipino, local dialect or English
- Not have been convicted of any crime involving moral turpitude
SK Chairman
- Serve as an ex-officio member of the SB (exercise same powers, discharge same duties and enjoy same privileges)
- Serve ass the chairman of the committee on youth and sport development of SB
- Serve as the member of barangay development council
Power and duties of the SK Chairman:
- Call and preside over all meetings of the Katipunan ng Kabataan and the SK
- Implement policies, programs and projects within his jurisdiction in coordination with the SB
- Exercise general supervision over the affairs and activities of the SK and the official conduct of its members, and other officers
- With concurrence of the SK, appoint from among the members the secretary and treasurer, and other officers as necessary
- Exercise other powers, duties, functions as prescribed by law or ordinance
Sangguniang Kabataan Secretary
Duties & Functions of the SK Secretary:
- Keep all records of the KK and SK
- Prepare and keep the minutes of all meetings of the KK and SK
- Prepare all forms necessary for the conduct of registrations, elections, initiatives, referenda, or plebiscites (in coordination with BS and COMELEC)
- Perform such other duties and discharge functions as the chairman of SK may prescribe or direct
Sangguniang Kabataan Treasurer
Duties & Functions of the SK Treasurer:
- Take custody of all SK property and funds not otherwise deposited with city or municipal treasurer
- Collect and receive contributions, monies, materials and other resources intended for the SK and KK
- Disburse SK Funds in accordance with approved budget
- Certify to the availability of funds whenever necessary
- Submit to the SK and to the SB certified and detailed statements of actual income and expenditures at the end of every month
- Perform such other duties and discharge other functions as the chairman of the SK may direct
Meeting of the SK
* The SK shall meet regularly every once a month on the day, time and place to be fixed by the said sanggunian
* Special meetings may be called by the chairman or any 3 of its members by giving notice to all members of the date, time, place, and agenda of the meeting at least 1 day in advance
* Notices of meetings shall be furnished to PB and SB
* Majority of the members shall constitute a quorum
Election and Term of Office
* Election shall be held on the last Monday of October and every three years thereafter
* SK members elected shall serve for three years or until such time as their successors shall have been elected or sooner removed for cause or had become incapacitated
* An SK Official who passed the age of 21 years shall be allowed to serve for the remaining portion of the term for which he was elected
Succession and Filling of Vacancies
* If the SK chairman is refused, incapacitated, removed for cause or dies, the SK member who obtained the highest number of vote shall assume office of the chairman for the unexpired portion of the term
* If the member refused to assume or fails to qualify or have been incapacitated or removed for cause, the SK member obtaining the next highest number of votes shall assume the position
* If two or more members obtained the same next higher number of votes, the SK members shall conduct an election
* After the vacancy have been filled, the SK chairman shall call for a special election to complete the membership of said sanggunian.
* In case of suspension of the SK Chairman, the successor as previously discussed shall assume the position
Privileges and Benefits
- SK Chairman shall enjoy the same privileges enjoyed by SB members
- SK Officials shall be exempt from payment of tuition fees and matriculation fees while enrolled in tertiary public schools (Provided they enroll in the state college or university within or nearest their area of jurisdiction)
Pederasyon ng Sangguniang Kabataan
Organization:
Pambayang Pederasyon ng SK (Municipalities)
Panlungsod na Pederasyon ng SK (Cities)
Panlalawigangg Pederasyon ng SK (Province)
Pangmetropolitang Pederasyon ng SK (special metropolitan political subdivisions)
Pambansang Pederasyon ng SK (National)
Choose to be Rich Workbook
022608
One of the tough assignment of the book by Kiyosaki is preparing your financial statement mnthly... I have prepared a rough estimation of my financial statement for February... Now i am reading where am I financially...
Next month it will be more specified since I will start my record keeping...
My Financial Statement
Income
Earned Income
Job and self employment P14,794 + P3,400 = P18,194
Passive Income
Real Estate (Net) 0
Business (Net) 0
Passive Income Total 0
Portfolio Income
Interest 0
Dividends 0
Royalties 0
Portfolio Income Total 0
Total Income (Earned + Passive + Portfolio) P18,194
Expenses
Taxes ????
Credit Card Payments 0
Home Mortagage (Rent)
Car Payments (Motorcycle) P1,730
Food and Clothing 4,300
Other Payments 10,000
Total Expenses P16,030+
NET MONTHLY CASH FLOW P 2,164-
(Total Income less Total Expenses)
Assets
Bank Accounts P4,690.50
Stocks 0
Bonds 0
Receivables 0
Real Estate (Fair Market Value less Mortgage) 0
Business Value (Net) 0
Assets Subtotal P4,690.50
Doodads
Home 0
Car (Motorcycle) P41,520 (present value)
Other (Laptop) P25,000
Doodads Total P66,520
Total Assets per Banker (Assets Subtotal + Doodads) = P71,210.5
Total Assets per Rich Dad (Assets Subtotal only, do not add doodads) =
P4,690.50
Liabilities
Credit Cards
Car Loans (Motorcycle) P41,520
School and Personal LOans 0
Home Mortgage Loan 0
Other Debt (Bank LOans) 31,025 + 80,073 = P111,098
Total Liabilities P152,618
Net Worth per banker (Total Assets per banker less total liabilities) =
-P81,407.5
Net Worth per Rich Dad (Total Assets per Rich dad less total liabilities) =
-P147,927.50
I AM SO HAPPY AND GREATFUL NOW THAT…
022608
1. Now that I know where I am financially... That I can change my situation and become financially free
2. I will have my first million this year!
3. My family members and my loved ones are all wealthy and happy!
4. I am amidst abundance and prosperity!
SK LETRA MODULE
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February 25...
"The youth is the hope of the motherland..."
- Jose Rizal
The author have been assigned by the Provincial Government to create a module for the upcoming SK (Sangguniang Kabataan/Youth Leaders) Summer Camp - Leadership Training (LETRA)
Here I have posted one of the topics that I have already finished. The topic of SK Plans and Budget. If you have additions and corrections kindly leave a comment so we can incorporate it. Thanks!
LECTURE ON SK PLANS & BUDGET
Course Outline
I. Legal Basis
II. What is a Budget?
III. Composition
IV. Budget Process
V. Annual and Supplemental Budget
VI. Realignment
LEGAL BASIS
Sec. 329, Art. 2 of RA 7160 provides that ten percent (10%) of the General Fund of the barangay shall be set aside for the Sangguniang Kabataan.
WHAT IS A BUDGET?
- A management tool
- A process of allocating limited resources for funding necessary lawful expenditures
WHAT COMPRISES A BUDGET?
Part I – sources or revenue to be collected
Part II – proposed expenditures/appropriations
UNDER SOURCES:
a) Beginning balance
1. Surplus
2. Continuing appropriations
b) 10% share from barangay funds
c) Donations
UNDER APPROPRIATIONS:
Allocations of SK funds
Section 1 - 40%
Green Brigade 10%
Livelihood 10%
Capability building 10%
Anti-Drug Abuse campaigns 10%
Section 2 - 58% other programs
2.1 Education services & moral recovery program
2.2 Health services & adolescent reproduction health program
2.3 Disaster combination & calamity management
2.4 Sports development activities
2.5 Community immersion
2.6 Infra projects
2.7 Legislative work and involvement
2.8 Other development program vitalfor the youth
Section 3 - 2% annual dues
40% goes to Pambayang Pederasyon
20% goes to Panlalawigang Pederasyon
20% goes to Regional Council
20% goes to Pambansang Pederasyon
5. Annual and Supplemental Budgets Differences
Annual
1. Prepared every October of every year
2. Effective January of each year
Ever prepared after October of a year
Supplemental
1. Prepared once additional income is Realized
2. Effective upon its passage
Similarities
1. Approval by SK municipal LEC
2. Majority votes required
3. Presented for deliberation in a regular session
6. Realignments – same process with annual / supplemental budgets to be approved by SK Municipal LEC
PLAN – BUDGET LINK MODEL
1. Determine issues current / for development
2. Arrive to VISION / GOAL
3. Strategies
1.Activities
1. Projects
2. Programs
3. Resources requirements
1. Prioritization of activities
2. Allocation of resources
3. Targets
4. Performance output
Policy decisions : determine the goal
: provision of basic services
: if the funds doesn’t warrant resort to investment
- thru – subsidy
- savings via cost reduction scheme
The Format for a budget is
Republic of the Philippines
Province of Albay
Municipality of _______________
Barangay ___________________
SK ANNUAL BUDGET
CY 2008
1. SOURCES
Balance end of the year (- Partial) __________________
10% SK Share (2007) __________________
Others __________________
====================
2. EXPENDITURES/ APPROPRIATION
A. Green Brigade (10%) __________________
B. Livelihood (10%) __________________
C. Capability Building (10%) __________________
D. Anti-Drug Abuse Campaign (10%) __________________
E. SK Annual Dues (2%) __________________
F. Other Concerns (58%) __________________
TOTAL EXPENDITURES:
====================
CHOOSE TO BE RICH WORK BOOK
022508
QUESTIONS:
Are you set up to retire early or are you living like a financial yo-yo?
Will you retire at age 45 or remain self-employed until 80?
Live in a mansion at the coast or in a small condo in the city?
Spend your twilight years in a long term care facility or tended by a private nurse?
Do you want to have too little money or too much money?
ANSWERS:
As of now I am in the middle of seting up to retire early and being a financial yo-yo... This is my take off stage, it might be difficult but I will take off and retire early.
Based on my computation I will retire by age 48...
Of course live in a mansion at the coast...
To tended by a private, sexy nurse he he he he he he he...
TOO MUCH MONEY!!!!
I AM SO HAPPY AND GREATFUL NOW THAT…
022508
1. I will retire early!
2. By age 48 my passive income falls at $1M or more per year! YES!
3. I will live in a mansion by the coast, tended by a sexy nurse... grrrr... he he he he he
4. I am now on my way to financial freedom!
Wednesday, February 27, 2008
CFA DIAGNOSTIC EXAM SAMPLER!
9th day of the odyssey...
For this day I am giving you a sampler of what a CFA Diagnostic exam looks like... I invite you to send your answers via comments, the one with the highest score will receive a special price from the author, (for readers residing on Philippines only)... The deadline is on March 5, 2008... I will also post the answers on the said date... Good Luck!
CFA REVIEW COURSE
Level I Diagnostic Exam
40 Questions, 60 Minutes
QUESTIONS 1 THROUGH 5 RELATE TO ETHICAL AND PROFESSIONAL STANDARDS
1. Each of the following would constitute plagiarism except:
A. Quoting sources from a “leading analyst” without any specific reference given.
B. Using a statistic from a well-known statistical reporting company without acknowledgement.
C. Verbal comment made by an analyst in a presentation which was not an original idea
D. Selected portions of another brokerage firm’s report, without attribution.
2. Mr. Richard Rikin successfully completed the Level 1 Examinations and Mr. Dennis Reinoso successfully completed the Level 3 Examinations of the CFA Program. Mr. Rikin registered for the Level 2 Examinations. Mr. Reinoso still needs to complete the work requirement for the charter. The correct way to present their involvement in the program is
For Mr. Richard Rikin For Mr. Dennis Reinoso
A. Mr. Richard Rikin, CFA Level 1 Mr. Dennis Reinoso, CFA Level 3
B. Mr. Richard Rikin, CFA Level 1 Mr. Dennis Reinoso, will be eligible for the charter upon completion of required work experience
C. Mr. Richard Rikin is a Level 2 Candidate in the CFA Program Mr. Dennis Reinoso, CFA Level 3
D. Mr. Richard Rikin is a Level 2 Candidate in the CFA Program Mr. Dennis Reinoso, will be eligible for the charter upon completion of required work experience
3.Which of the following statements is true?
I. Insider information is that which is both non-public and material.
II. An investor can make a trade based on a set of non-public and non-material information.
III. A Chartered Financial Analyst, working in the U.S., can use insider information to buy a foreign stock because there is no law prohibiting such transaction in the country where such stock is listed.
A. I only
B. I and II only
C. II and III only
D. All are true
4. Anna Nichols is a research analyst preparing a report on Enterprise Company. In order to ensure accuracy in her report, she sends the report to the Chief Financial Officer (CFO) of Enterprise to allow him to point out some factual errors. The CFO makes some corrections, which Nichols checks and agrees with. The CFO also sends Nichols several pages of market analyses that appear favorable for Enterprise. Nichols checks the analyses for accuracy and includes a summary of them in her report, pointing out that the data came from Enterprise. Nichols has:
A. violated the Standards by sending the report to the CFO before sending it to her clients.
B. violated the Standards by not including all of the data the CFO provided to her.
C. violated the Standards by including the data from the CFO in the report.
D. not violated any Standard.
5. While on a business trip, John Hayes, CFA, found a notebook that had apparently been left in the waiting area of an airport. Hayes opened the notebook and read the title: Confidential: 2001 Level II CFA Examination. Before returning the notebook to AIMR, he made a copy and gave it to Linda Sacket, one of his firm's analysts, who was a candidate for Level II of the CFA examination. Hayes reasoned that AIMR would not use these questions and that Sacket would benefit from reviewing these questions. Sacket read the questions and guideline answers before taking the Level II examination. According to the AIMR Standards of Professional Conduct involving professional misconduct:
A. Hayes violated the Standards, but Sacket did not.
B. Sacket violated the Standards, but Hayes did not.
C. both Hayes and Sacket violated the Standards.
D. neither Hayes nor Sacket violated the Standards.
QUESTIONS 6 THROUGH 13 RELATE TO ECONOMICS
6. If the reserve requirement is 20%, a new deposit of $1,000 will increase the money supply by:
A. potentially as much as $5,000.
B. at least $1,000.
C. potentially as much as $4,000.
D. potentially as much as $1,000.
7. In a perfectly competitive market,
I. each competitor faces perfectly elastic demand for its product.
II. a competitor can gain market share by differentiating it product.
III. in the long run all firms will earn zero economic profit.
IV. in the long run all firms will earn accounting profit.
A. I only.
B. I and III.
C. I, II and III.
D. I, II and IV.
8. Once a firm reaches a point of diminishing marginal returns:
A. marginal costs will decrease, causing average total costs to decrease.
B. marginal costs will increase, causing average total costs to increase.
C. marginal costs will increase, having no effect on average total costs.
D. marginal costs will increase, but the effect on average total cost will depend on the change in average fixed cost.
9. A firm in a competitive price-searcher market
A. faces an inelastic demand curve.
B. must be concerned not only with existing competitors but new potential entrants as well.
C. is somewhat protected from competition by high barriers to entry.
D. is unlikely to derive any benefit from advertising.
10. According to the Crowding-Out Model,
A. rising tax rates will reduce demand as more money is taken away from the private sector.
B. increased government spending will have no effect on aggregate demand.
C. expansionary fiscal policy puts the government in competition with the private sector for a limited supply of loanable funds.
D. the best strategy to stimulate demand during a recession is restrictive fiscal policy.
11. M1 includes all of the following except:
A. demand deposits.
B. traveler's checks.
C. passbook savings accounts
D. currency in circulation.
12. If the Japanese Yen depreciates against the U.S. Dollar:
A. It takes less Yen to buy products priced in Dollars.
B. It takes more Dollars to buy products priced in Yen.
C. It takes more Yen to buy products in any currency.
D. It takes more Yen to buy products priced in Dollars.
13. As long as the _____ production costs of goods and services differ between nations, the nations will be able to benefit from trade.
A. absolute
B. total
C. relative
D. unit
QUESTIONS 14 THROUGH 22 RELATE TO QUANTITATIVE METHODS
14. Two alternative investments, both costing PhP1,000,000 are being offered. Investment A will pay a lump sum of PhP2,000,000 after 5 years while Investment B will pay PhP300,000 per year for five years beginning one year from now. Assuming an interest rate of 10%, which of the following statements are true?
I. Investment A has a higher NPV.
II. Investment B has a higher IRR.
A. Only statement I is True.
B. Only statement II is True.
C. Statements I and II are true.
D. Statements I and II are false.
15. In a normal probability distribution:
A. The expected value is equal to both the mode and the median.
B. Large deviations from the mean are less likely than small deviations.
C. The distribution can be identified completely by the expected and the standard deviation.
D. All of the above.
16. Multiple regression analysis refers to:
A. Analyzing the effect of several dependent variables on one independent variable.
B. Analyzing the effect of several independent variables on one dependent variable.
C. Performing several iterations of a linear regression to determine the regression line with the best fit to the data.
D. Performing several iterations of a linear regression to determine the regression line with the highest R2
17. Javyee Eizaguru bought a new car, Ford, on terms. He paid $500 down, signed a note at 12% requiring $150 monthly payment for 2 years. How much did he pay for the car?
A. $3,187
B. $3,687
C. $1,253
D. $4,100
18. You have been offered perpetuity of $1,000 annually in exchange for $50,000. What interest rate is implicit in this transaction?
A. 1.0%
B. 2.0%
C. 2.5%
D. 20.0%
19. Which of the following options is the most desirable for a borrower taking out a loan?
A. Pay 8% compounded daily.
B. Pay 8.2% compounded monthly
C. Pay 8.3% compounded quarterly.
D. Pay 8.5% compounded annually.
20. Which of the measures assume that all proceeds are reinvested?
A. Time-weighted rate of return
B. IRR
C. Dollar-weighted rate of return
D. Arithmetic rate of return
21. Investing for more holding periods:
A. Will reduce overall risk
B. Will neither increase or decrease overall risk
C. Increases the amount at risk
D. Increases risk only if the holding period returns are not independent
22. Jenny Clevera would like to send her daughter Sheryl to Jasmine College in ten years. She has estimated that the cost of college by then will be $30,000 per year. Assuming she can earn 8% on her investments, how much must she set aside to meet the expected college bills?
A. $99,363
B. $62,776
C. $55,583
D. $46,025
QUESTIONS 23 THROUGH 36 RELATE TO FINANCIAL ACCOUNTING AND STATEMENT ANALYSIS
23. Among the following, the most important tool for investors is the:
A. Balance sheet
B. Income statement
C. Statement of cash flows
D. Statement of changes in stockholders’ equity
24. The cash flow from operations can:
A. Be manipulated
B. Usually predict bankruptcy
C. Be affected by issuing stock
D. Be affected by capital expenditure
25. Many companies prefer to have operating leases rather than capital leases because:
A. In the later years of the lease, operating income will be higher.
B. In the early years of the lease, rent expense is usually less than the sum of depreciation and interest expense.
C. Operating leases are not reported in the annual report
D. Over the life of the lease, income will be greater using an operating lease.
26. The most conservative way to compute interest coverage if a company has capitalized interest is to:
A. Compute the ratio using interest actually paid.
B. Add the capitalized interest back to net income and compute the ratio.
C. Deduct capitalized interest from interest expense and compute the ratio.
D. Add capitalized interest to interest actually paid and compute the ratio.
27. Which of the following is a benefit of FIFO?
A. Higher taxes
B. Less inflation effect on COGS
C. Higher ROE
D. Higher liquidity ratios
28. An unexpected increase in inventory might be a sign of:
A. Higher future demand
B. Unexpected decline in sales
C. a & b.
D. Higher current ratio
29. The area of accounting that gives management the greatest discretion to determine timing of income is
A. Inventory accounting.
B. Accounting for marketable securities.
C. Accounting for impaired assets.
D. Convertible debt accounting.
30. A firm that tends to capitalize certain costs rather than expense them will:
A. eventually have problems with the SEC.
B. have higher net income over the long-term.
C. have higher cash flow over the near-term.
D. have smoother net income.
31. Which of the following cannot be capitalized?
A. Trademarks.
B. Software development.
C. Research and development.
D. Franchises.
32. One method of increasing net income without having a separate line item on the balance sheet is to:
A. change depreciation methods.
B. change asset lives.
C. change interest rate assumptions.
D. none of the above.
33. For bonds issued at premium, interest expense:
A. goes down over time.
B. goes up over time.
C. stays the same.
D. will depend on the effective interest rate.
34. When computing a valuation ratio, the correct method of valuing debt is:
A. face value.
B. par value.
C. market value.
D. conversion value.
35. Selling accounts receivable artificially improve the:
A. Current ratio
B. Debt/equity ratio
C. Tax rate
D. Return on equity
36. What should an analyst use to estimate real economic depreciation of a fixed asset?
A. Tax depreciation.
B. GAAP depreciation.
C. Units of production method.
D. Must be evaluated on a case by case basis.
QUESTIONS 37 THROUGH 40 RELATE TO ASSET VALUATION AND PORTFOLIO MANAGEMENT
37. In analyzing different industries, those with high P/E ratios will typically have:
A. low payout ratios
B. high payout ratios
C.low growth rates
D. too much leverage
38. Beta can be viewed as:
A. a measure of growth
B. a measure of systematic risk
C. a measure of correlation
D. a measure of total risk
39. Each of the following is a disadvantage to investing in real estate except:
A. illiquidity
B. cyclicality of the market
C. high correlation of real estate returns with common stock returns
D. high management costs
40. Company A has a substantially higher dividend pay out ratio compared to Company B. Everything else about the two companies is identical. After several years, which of the following statements about Company A and Company would most likely be TRUE?
I. Company A would have a higher stock price.
II. Company B would have a lower debt/equity ratio.
A. Only statement I is most likely True.
B. Only statement II is most likely True.
C. Statements I and II are both most likely true.
D. Neither statement I nor II are likely to be true.
CHOOSE TO BE RICH WORK BOOK
022308
Wants
1. To become a CFA...
2. To become finacially free/ultra rich...
3. To own a medieval castle at Scotland...
4. To be a best selling inspirational author and lecturer...
5. To organize and build an International NGO focusing on the rights and welfare of street children and youth...
6. To own a massive library...
7. To have a massive collection of Naruto, Samurai X, X-men, Beatles, etc...
8. To own a vintage race car with historical sentiment...
9. To build my own university focusing on financial intelligence, emotional quotient and personality development...
Don't Wants
1. To die a vagabond...
2. To work all of my life...
3. To be a part of the rat race...
4. To be a slave of money...
5. To be sickly...
6. To become a loser...
7. To become a shadow of my father and predecessors...
8. To become undisciplined and disrganized...
9. To be a traditional politician...
I AM SO HAPPY AND GREATFUL NOW THAT…
022308
1. An oppurtinity to go out of the country was presented...
2. My anti virus was updated and got the Worm/Agent A...
3. For being a CFA...
4. For the Millions!
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