Chapter 1Banking and the Financial Services IndustryMultiple Choice 1.Which act separated commercial banking, investment banking and insurance into three separate industries? a.Glass-Steagall Actb.Bank Holding Company Actc.McFadden Actd.Federal Reserve Acte.Competitive Equality Banking ActAnswer: a 2.Which act limited the activities a company could engage in if it owned a bank? 3.Which of the following mortgage types were offered to “subprime” borrowers? a. and b. only4.The U.S. government took all of the following actions to address the credit crisis in 2008 except:
5.At the end of 2008, which of the following investment banks remained independent? a.Bear Stearnsb.Goldman Sachsc.Lehman Brothersd.Merrill Lynche.Answer: ba. and b. 6.In 2008, the U.S. Treasury financial supported financial institutions by: 7.Which of the following is falseregarding community banks? 8.Banks with less than _______ in assets are generally called community banks. 9.__________ have a large international presence. a.Global banksb.Nationwide banksc.Super regional banksd.Regional banks e. Specialty Banks Answer: a
10. An “independent” bank is:
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