Question 1

What laws are covered in RFBT?

Accepted Answer

RFBT covers the Civil Code (obligations and contracts, sales), Revised Corporation Code, partnership law, Negotiable Instruments Law, Insurance Code, banking laws, and other commercial laws relevant to business.

Question 2

Why does RFBT have 100 questions?

Accepted Answer

RFBT is the only CPALE subject with 100 MCQs (vs. 70 for other subjects) because it covers a wide range of commercial laws. It is 100% theory-based with no computations, focusing on legal provisions and their applications.

Question 3

What study tips work for RFBT?

Accepted Answer

Since RFBT is 100% theory-based, focus on memorizing key legal provisions and understanding the reasoning behind rules. Create summary notes of key articles. Practice case-based questions that test application of laws to business situations.

Question 4

What is the One Person Corporation under the Revised Corporation Code?

Accepted Answer

The One Person Corporation (OPC) is a major feature of RA 11232 (Revised Corporation Code). It allows a single stockholder to form a corporation with limited liability. OPCs must have a nominee and alternate nominee director. This is a frequently tested topic.

Question 5

What Civil Code articles should I memorize for RFBT?

Accepted Answer

Focus on key provisions: Article 1156-1304 (Obligations), Article 1305-1422 (Contracts), Article 1458-1637 (Sales), and Article 1767-1867 (Partnership). Understanding when contracts are void, voidable, or unenforceable is essential.

RFBT

RFBT in
full.

Practice. Explain.
Master.

Frequent
questions.

Ready to pass the CPA board exam?