Test Bank For The U.S. Banking System 3rd Edition
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Test Bank For The U.S. Banking System 3rd Edition
CHAPTER 03—THE FEDERAL RESERVE SYSTEM
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1. An increase in money supply and incomes often causes prices to go up as well. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.2.3 – LO: 3.2.3 |
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2. By law, every bank in the United States must be part of the Federal Reserve System. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.1.1 – LO: 3.1.1 |
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3. One of the main functions of the Federal Reserve is to serve as a bank for other banks. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.1.2 – LO: 3.1.2 |
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4. Almost all economists agree that the federal government can effectively regulate the economy by raising or lowering taxes and expenditures. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.2.2 – LO: 3.2.2 |
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5. The Truth in Lending Act prohibits bill collectors from using deceptive or abusive tactics. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.3.1 – LO: 3.3.1 |
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6. Janet Yellen began her term as chair of the Federal Reserve in 2014. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.1.1 – LO: 3.1.1 |
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7. The Uniform Bank Performance Report is an annual report issued to summarize the performance of international banks operating within the United States. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.4.1 – LO: 3.4.1 |
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8. A fixed exchange rate ties the monetary value of one country’s currency to the valuation of another country’s currency. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.5.1 – LO: 3.5.1 |
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9. The Strength of Support Assessment (SOSA) report is a quarterly report filed by U.S. banks to summarize how each of the bank’s branches is performing. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.5.1 – LO: 3.5.1 |
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10. The International Monetary Fund (IMF) works to promote economic growth among member countries. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.5.3 – LO: 3.5.3 |
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11. Which of the following is NOT a function of the Federal Reserve? a. levying a high tax on state bank notes b. conducting bank examinations c. handling the government’s central banking function d. determining whether banks can borrow money from the Federal Reserve ANSWER: a POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.1.2 – LO: 3.1.2 |
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12. The rate of interest the Federal Reserve charges banks for short-term loans is called the a. discount rate. b. federal funds rate. c. reserve requirement rate. d. prime rate. ANSWER: a POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.2.1 – LO: 3.2.1 |
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13. If the government restricts the flow of cash into the economy too severely, a. businesses will have more money to invest. b. consumers cannot afford to borrow. c. employment will rise dramatically. d. all of the above are true. ANSWER: b POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.2.3 – LO: 3.2.3 |
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14. Which of the following attempts to protect the information that credit bureaus may collect? a. Fair Debt Collection Act b. Fair Credit Reporting Act c. Truth in Lending Act d. Equal Credit Opportunity Act ANSWER: b POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.3.1 – LO: 3.3.1 |
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15. Which of the following statements is NOT true? a. Credit bureaus may not report information more than one year old. b. A creditor may not use receipt of public assistance as a factor in determining creditworthiness. c. If there is a billing dispute, creditors may not take adverse action until the dispute is resolved. d. Bill collectors may not call debtors at odd hours. ANSWER: a POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 3.3.1 – LO: 3.3.1 |
Test Bank for The U.S. Banking System, 3rd Edition
Overview: The Test Bank for The U.S. Banking System, 3rd Edition, is a comprehensive assessment tool designed to evaluate students’ understanding of the principles, operations, and regulatory aspects of the U.S. banking system. This test bank complements the textbook by offering a variety of questions that cover key concepts, practices, and developments in the banking industry.
Content:
- Multiple Choice Questions: These questions assess students’ knowledge of fundamental concepts, including the structure of the banking system, the role of various financial institutions, and key banking regulations. Topics might include the functions of commercial banks, the Federal Reserve System, types of financial products, and the impact of banking policies on the economy. Multiple-choice questions are ideal for testing students’ recall of factual information and their understanding of core principles.
- True/False Questions: This section evaluates students’ ability to identify accurate and inaccurate statements related to the U.S. banking system. True/false questions are useful for testing students’ grasp of specific details and their ability to recognize correct or incorrect information about banking practices and regulations.
- Short Answer Questions: These questions require students to provide concise explanations or definitions of key terms and concepts related to banking. Short answer questions test students’ ability to articulate their understanding of concepts such as monetary policy, bank supervision, and the different types of banking institutions.
- Essay Questions: The essay section challenges students to explore complex topics and develop detailed responses. Topics might include an analysis of the role of the Federal Reserve in monetary policy, the impact of regulatory changes on banking practices, or the implications of technological advancements on the banking industry. Essays assess students’ ability to construct well-reasoned arguments and engage in critical analysis of banking issues.
- Case Studies: Case studies present real-world scenarios related to banking operations, regulations, or economic impacts. Students are required to analyze the cases, apply theoretical knowledge, and propose solutions or recommendations. This format helps assess students’ practical understanding and problem-solving skills in the context of the banking system.
- Matching Questions: These questions involve pairing terms with their definitions or related concepts. Matching questions are useful for assessing students’ familiarity with banking terminology and their ability to connect concepts with their appropriate definitions or applications.
- Calculations and Data Analysis: Some questions may require students to perform calculations related to banking operations, such as interest rate calculations, loan amortizations, or financial ratios. Data analysis questions assess students’ ability to interpret and analyze banking-related data and make informed decisions based on quantitative information.
Key Features:
- Comprehensive Coverage: The test bank covers a broad range of topics, including the structure and functions of the U.S. banking system, regulatory frameworks, financial instruments, and current trends in banking. This comprehensive approach ensures that assessments address various aspects of the textbook content.
- Variety of Question Types: The inclusion of multiple question formats allows for a thorough evaluation of students’ knowledge and skills. From basic recall to complex analysis, the test bank provides a balanced assessment of different learning objectives.
- Focus on Practical Application: The test bank includes questions that require students to apply theoretical knowledge to real-world scenarios, enhancing their understanding of how banking concepts are used in practice.
- Alignment with Textbook Content: The questions are designed to align closely with the content and objectives of the 3rd Edition of The U.S. Banking System, ensuring that assessments are relevant and reflective of the textbook material.
Conclusion:
The Test Bank for The U.S. Banking System, 3rd Edition, is a valuable resource for educators and students in the field of banking and finance. By providing a diverse range of question types and covering essential topics, the test bank helps assess students’ understanding of the U.S. banking system while promoting critical thinking and practical application of banking principles.
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