MishkinTBch12.docx

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