US Banking Systems Quiz 9/3/2010
10 Questions
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Vocabulary and Review Quiz over Chapter 2 of Banking and Finance.
Questions and Answers
- 1.Currency issued by a bank promising to pay the amount of money designated on its face when the note is presented to the bank is known as:
- A.
Dollar Bill
- B.
Coin
- C.
Banknote
- D.
Bankloan
- 2.A document, currency, or coin that is forged or otherwise created to look real is considered to be:
- A.
Counterfeit
- B.
Real
- C.
Copied
- D.
Inflated
- 3.A continuing increase in prices caused by too much money in the economy and too few goods avaialble to be purchased is called:
- A.
Upward trend
- B.
Shortage
- C.
Balloon effect
- D.
Inflation
- 4.Which peice of legeslation addressed the needs of forming a national check clearing system?
- A.
FDIC
- B.
Federal Reserve Act
- C.
OCC
- D.
Banking Act of 1933
- 5.When borrowing money to purchase stocks, investing little of your own money as a down payment, you are:
- A.
Buying on debit
- B.
Buying on funds
- C.
Buying on Margin
- D.
Borrowing on Margin
- 6.The Dual Banking System still exists in todays banking society
- A.
True
- B.
False
- 7.The National Bank Act of 1863 created the FDIC
- A.
True
- B.
False
- 8.The Gramm-Leach-Blilet Act of 1999 requires banks to protect customer financial information
- A.
True
- B.
False
- 9.The OCC is responsible for chartering, examining, and supervising state banks
- A.
True
- B.
False
- 10.Banking in the 1700s and 1800s was structured a lot like the banks of today
- A.
True
- B.
False
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