MishkinTBch12.docx
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MishkinTBch12
TheEconomicsofMoney,Banking,andFinancialMarkets,9e(Mishkin)
Chapter12BankingIndustry:
StructureandCompetition
12.1HistoricalDevelopmentoftheBankingSystem
1)ThemoderncommercialbankingsystembeganinAmericawhenthe
A)BankofUnitedStateswascharteredinNewYorkin1801.
B)BankofNorthAmericawascharteredinPhiladelphiain1782.
C)BankofUnitedStateswascharteredinPhiladelphiain1801.
D)BankofNorthAmericawascharteredinNewYorkin1782.
Answer:
B
QuesStatus:
PreviousEdition
2)Amajorcontroversyinvolvingthebankingindustryinitsearlyyearswas
A)whetherbanksshouldbothacceptdepositsandmakeloansorwhetherthesefunctionsshouldbeseparatedintodifferentinstitutions.
B)whetherthefederalgovernmentorthestatesshouldcharterbanks.
C)whatpercentofdepositsbanksshouldholdasfractionalreserves.
D)whetherbanksshouldbeallowedtoissuetheirownbanknotes.
Answer:
B
QuesStatus:
PreviousEdition
3)Thegovernmentinstitutionthathasresponsibilityfortheamountofmoneyandcreditsuppliedintheeconomyasawholeisthe
A)centralbank.
B)commercialbank.
C)bankofsettlement.
D)monetaryfund.
Answer:
A
QuesStatus:
PreviousEdition
4)BecauseoftheabusesbystatebanksandtheclearneedforacentralbanktohelpthefederalgovernmentraisefundsduringtheWarof1812,Congresscreatedthe
A)BankofUnitedStatesin1812.
B)BankofNorthAmericain1814.
C)SecondBankoftheUnitedStatesin1816.
D)SecondBankofNorthAmericain1815.
Answer:
C
QuesStatus:
PreviousEdition
5)TheSecondBankoftheUnitedStateswasdeniedanewcharterby
A)PresidentAndrewJackson.
B)VicePresidentJohnCalhoun.
C)PresidentBenjaminHarrison.
D)PresidentJohnQ.Adams.
Answer:
A
QuesStatus:
PreviousEdition
6)Currencycirculatedbybanksthatcouldberedeemedforgoldwascalled________.
A)junkbonds
B)banknotes
C)goldbills
D)statemoney
Answer:
B
QuesStatus:
PreviousEdition
7)Toeliminatetheabusesofthestate-charteredbanks,the________createdanewbankingsystemoffederallycharteredbanks,supervisedbythe________.
A)NationalBankActof1863;OfficeoftheComptrolleroftheCurrency
B)FederalReserveActof1863;OfficeoftheComptrolleroftheCurrency
C)NationalBankActof1863;OfficeofThriftSupervision
D)FederalReserveActof1863;OfficeofThriftSupervision
Answer:
A
QuesStatus:
PreviousEdition
8)Thebeliefthatbankfailureswereregularlycausedbyfraudorthelackofsufficientbankcapitalexplains,inpart,thepassageof
A)theNationalBankCharterAmendmentsof1918.
B)theGarn-St.GermainActof1982.
C)theNationalBankActof1863.
D)FederalReserveActof1913.
Answer:
C
QuesStatus:
PreviousEdition
9)Before1863,
A)federally-charteredbankshadregulatoryadvantagesnotgrantedtostate-charteredbanks.
B)thenumberoffederally-charteredbanksgrewatamuchfasterratethanatanyothertimesincetheendoftheCivilWar.
C)banksacquiredfundsbyissuingbanknotes.
D)bankswererequiredtomaintain100%oftheirdepositsasreserves.
Answer:
C
QuesStatus:
PreviousEdition
10)AlthoughtheNationalBankActof1863wasdesignedtoeliminatestate-charteredbanksbyimposingaprohibitivetaxonbanknotes,thesebankshavebeenabletostayinbusinessby
A)issuingcreditcards.
B)ignoringtheregulations.
C)acquiringfundsthroughdeposits.
D)branchingintootherstates.
Answer:
C
QuesStatus:
PreviousEdition
11)TheNationalBankActof1863,andsubsequentamendmentstoit,
A)createdabankingsystemofstate-charteredbanks.
B)establishedtheOfficeoftheComptrolleroftheCurrency.
C)broadenedtheregulatorypowersoftheFederalReserve.
D)createdinsuranceondepositaccounts.
Answer:
B
QuesStatus:
PreviousEdition
12)Whichregulatorybodychartersnationalbanks?
A)TheFederalReserve
B)TheFDIC
C)TheComptrolleroftheCurrency
D)TheU.S.Treasury
Answer:
C
QuesStatus:
PreviousEdition
13)TheregulatorysystemthathasevolvedintheUnitedStateswherebybanksareregulatedatthestatelevel,thenationallevel,orboth,isknownasa
A)bilateralregulatorysystem.
B)tieredregulatorysystem.
C)two-tieredregulatorysystem.
D)dualbankingsystem.
Answer:
D
QuesStatus:
PreviousEdition
14)TodaytheUnitedStateshasadualbankingsysteminwhichbankssupervisedbythe________andbythe________operatesidebyside.
A)federalgovernment;municipalities
B)stategovernments;municipalities
C)federalgovernment;states
D)municipalities;states
Answer:
C
QuesStatus:
PreviousEdition
15)TheU.S.bankingsystemisconsideredtobeadualsystembecause
A)banksofferbothcheckingandsavingsaccounts.
B)itactuallyincludesbothbanksandthriftinstitutions.
C)itisregulatedbybothstateandfederalgovernments.
D)itwasestablishedbeforetheCivilWar,requiringseparateregulatorybodiesfortheNorthandSouth.
Answer:
C
QuesStatus:
PreviousEdition
16)TheFederalReserveActof1913requiredthat
A)statebanksbesubjecttothesameregulationsasnationalbanks.
B)nationalbanksestablishbranchesinthecitiescontainingFederalReservebanks.
C)nationalbanksjointheFederalReserveSystem.
D)statebankscouldnotjointheFederalReserveSystem.
Answer:
C
QuesStatus:
PreviousEdition
17)TheFederalReserveActrequiredall________bankstobecomemembersoftheFederalReserveSystem,while________bankscouldchoosetobecomemembersofthesystem.
A)state;national
B)state;municipal
C)national;state
D)national;municipal
Answer:
C
QuesStatus:
PreviousEdition
18)ProbablythemostsignificantfactorexplainingthedrasticdropinthenumberofbankfailuressincetheGreatDepressionhasbeen
A)thecreationoftheFDIC.
B)rapideconomicgrowthsince1941.
C)theemploymentofnewproceduresbytheFederalReserve.
D)betterbankmanagement.
Answer:
A
QuesStatus:
PreviousEdition
19)WiththecreationoftheFederalDepositInsuranceCorporation,memberbanksoftheFederalReserveSystem________topurchaseFDICinsurancefortheirdepositors,whilenon-membercommercialbanks________tobuydepositinsurance.
A)couldchoose;wererequired
B)couldchoose;weregiventheoption
C)wererequired,couldchoose
D)wererequired;wererequired
Answer:
C
QuesStatus:
PreviousEdition
20)WiththecreationoftheFederalDepositInsuranceCorporation,
A)memberbanksoftheFederalReserveSystemweregiventheoptiontopurchaseFDICinsurancefortheirdepositors,whilenon-membercommercialbankswererequiredtobuydepositinsurance.
B)memberbanksoftheFederalReserveSystemwererequiredtopurchaseFDICinsurancefortheirdepositors,whilenon-membercommercialbankscouldchoosetobuydepositinsurance.
C)bothmemberandnon-memberbanksoftheFederalReserveSystemwererequiredtopurchaseFDICinsurancefortheirdepositors.
D)bothmemberandnon-memberbanksoftheFederalReserveSystemcouldchoose,butwerenotrequired,topurchaseFDICinsurancefortheirdepositors.
Answer:
B
QuesStatus:
PreviousEdition
21)TheGlass-SteagallAct,beforeitsrepealin1999,prohibitedcommercialbanksfrom
A)issuingequitytofinancebankexpansion.
B)engaginginunderwritinganddealingofcorporatesecurities.
C)sellingnewissuesofgovernmentsecurities.
D)purchasinganydebtsecurities.
Answer:
B
QuesStatus:
PreviousEdition
22)Thelegislationthatseparatedinvestmentbankingfromcommercialbankinguntilitsrepealin1999isknownasthe:
A)NationalBankActof1863.
B)FederalReserveActof1913.
C)Glass-SteagallAct.
D)McFaddenAct.
Answer:
C
QuesStatus:
PreviousEdition
23)WhichofthefollowingstatementsconcerningbankregulationintheUnitedStatesaretrue?
A)TheOfficeoftheComptrolleroftheCurrencyhastheprimaryresponsibilityforstatebanksthataremembersoftheFederalReserveSystem.
B)TheFederalReserveandthestatebankingauthoritiesjointlyhaveresponsibilityforthe900statebanksthataremembersoftheFederalReserveSystem.
C)TheOfficeoftheComptrolleroftheCurrencyhassoleregulatoryresponsibilityoverbankholdingcompanies.
D)Thestatebankingauthoritieshavesoleregulatoryresponsibilityforallstatebanks.
Answer:
B
QuesStatus:
Revised
24)Whichbankregulatoryagencyhasthesoleregulatoryauthorityoverbankholdingcompanies?
A)TheFDIC
B)TheComptrolleroftheCurrency
C)TheFHLBS
D)TheFederalReserveSystem
Answer:
D
QuesStatus:
PreviousEdition
25)StatebanksthatarenotmembersoftheFederalReserveSystemaremostlikelytobeexaminedbythe
A)FederalReserveSystem.
B)FDIC.
C)FHLBS.
D)ComptrolleroftheCurrency.
Answer:
B
QuesStatus:
PreviousEdition
26)Statebankingauthoritieshavesolejurisdictionoverstatebanks
A)withoutFDICinsurance.
B)thatarenotmembersoftheFederalReserveSystem.
C)operatingasbankholdingcompanies.
D)charteredinthe21stcentury.
Answer:
A
QuesStatus:
New
12.2FinancialInnovationandtheGrowthofthe"ShadowBankingSystem"
1)Financialinnovationsoccurbecauseoffinancialinstitutionssearchfor________.
A)profits
B)fame
C)stability
D)recognition
Answer:
A
QuesStatus:
PreviousEdition
2)________istheprocessofresearchinganddevelopingprofitablenewproductsandservicesbyfinancialinstitutions.
A)Financialengineering
B)Financialmanipulation
C)Customermanipulation
D)Customerengineering
Answer:
A
QuesStatus:
PreviousEdition
3)Themostsignificantchangeintheeconomicenvironmentthatchangedthedemandforfinancialproductsinrecentyearshasbeen
A)theagingofthebab