Identify The Banking Regulation Quiz

20 Questions

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Banking Quizzes & Trivia

Banking regulations have been put in place in the country by the state and federal law to offer transparency between banks, their clients and cooperation’s they work with. The quiz is a perfect way to test out how well you know these regulations and guidelines. Try it out and increase your knowledge.


Questions and Answers
  • 1. 
    Electronic Funds Transfer Act
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 2. 
    This was designed to help identify the source, volume, and movement of currency and other monetary instruments transported or transmitted into or out of the United States or deposited in financial institutions.
    • A. 

      Bank Secrecy Act

    • B. 

      Office of Foreign Assets Control

    • C. 

      Money Laundering

    • D. 

      Fair Credit Reporting Act

    • E. 

      Truth in Savings Act

  • 3. 
    One purpose of this act:  To eliminate delays in the availability of funds deposited by financial institution customers.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 4. 
    This involves Placement, Layering and Integration.
    • A. 

      Check Cashing

    • B. 

      OFAC

    • C. 

      TIL Act

    • D. 

      Money Laundering

    • E. 

      Fair Credit Reporting

  • 5. 
    Truth in Lending Act, designed to protect Consumers in credit by requiring clear key terms of the lending arrangement and all costs.
    • A. 

      Regulation E

    • B. 

      Regulation CC

    • C. 

      Regulation D

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 6. 
    Governs the collection and use of information considered in connection with granting credit, providing insurance, or offering employment.
    • A. 

      Bank Secrecy Act

    • B. 

      Truth in Savings Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Right to Financial Privacy Act

    • E. 

      Truth in Lending Act

  • 7. 
    Privacy of Consumer Financial Information.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 8. 
    Establishes reserve requirements for depository institutions.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 9. 
    Expedited Funds Availability - establishes check hold guidelines
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 10. 
    Imposes economic sanctions against hostile targets of the United States.
    • A. 

      Bank Secrecy Act

    • B. 

      Office of Foreign Assets Control

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Savings Act

    • E. 

      Money Laundering Act

  • 11. 
    A Federal Regulation that limits the number of electronic transfers or withdrawals from Money Market and Savings accounts.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 12. 
    The Truth in Lending Act (TILA), Title 1 of the Consumer Credit Protection Act, is aimed at promoting the informed use of consumer credit by requiring disclosures about its terms and costs.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 13. 
    Includes Currency Transaction Report, Suspicious Activity Report, USA PATRIOT ACT, and Know Your Customer.
    • A. 

      Bank Secrecy Act

    • B. 

      Office of Foreign Assets Control

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Savings Act

    • E. 

      Truth in Lending Act

  • 14. 
    Establishes the basic rights, liabilities and responsibilities of consumers who use electronic funds transfer services and of financial institutions.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 15. 
    A process used to conceal the origins of funds and the criminal activity associated with it.  By concealing the true source of funds, they can be used freely.
    • A. 

      Truth in Savings

    • B. 

      Money Laundering

    • C. 

      OFAC

    • D. 

      Regulation CC

    • E. 

      Right to Financial Privacy

  • 16. 
    Administers sanctions such as, Trade Embargoes, Blocked Asset Controls, and Commercial restriction.
    • A. 

      Bank Secrecy Act

    • B. 

      Truth in Savings Act

    • C. 

      Truth in Lending Act

    • D. 

      Office of Foreign Assets Control

    • E. 

      Right to Financial Privacy

  • 17. 
    This act was passed to prevent identity theft, improve resolution of consumer disputes, improve the accuracy of consumer records, and make improvements in the use of, and consumer access to credit information.
    • A. 

      Bank Secrecy Act

    • B. 

      Truth in Savings Act

    • C. 

      Right to Financial Privacy Act

    • D. 

      Fair Credit Reporting Act

    • E. 

      Expedited Funds Availability Act

  • 18. 
    Requires institutions to provide information of depository accounts to members.
    • A. 

      Truth in Savings Act

    • B. 

      Bank Secrecy Act

    • C. 

      Right to Financial Privacy Act

    • D. 

      Fair Credit Reporting Act

    • E. 

      Expedited Funds Availability Act

  • 19. 
    Limits the instances in which a financial institution may disclose nonpublic, personal information about a consumer to nonaffiliated third parties.
    • A. 

      Regulation CC

    • B. 

      Regulation D

    • C. 

      Regulation E

    • D. 

      Regulation P

    • E. 

      Regulation Z

  • 20. 
    This Regulation requires that affected Credit Unions provide information about depository accounts so members and potential members can easily compare rates and terms of accounts within and between institutions.
    • A. 

      Bank Secrecy Act

    • B. 

      Fair Credit Reporting Act

    • C. 

      Truth in Lending Act

    • D. 

      Truth in Savings Act

    • E. 

      OFAC