金融市场学双语题库及答案第二十六章米什金《金融市场与机构》.docx

金融市场学双语题库及答案第二十六章米什金《金融市场与机构》.docx

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金融市场学双语题库及答案第二十六章米什金《金融市场与机构》

FinancialMarketsandInstitutions,8e（Mishkin）

Chapter26SavingsAssociationsandCreditUnions

26.1MultipleChoice

1）Savingsbanks

A）werefirstestablishedinScotlandandEngland.

B）wereestablishedtoencouragesavingbythepoor.

C）wereveryconservativewiththeirfunds,placingmostofthemincommercialbanks.

D）arealloftheabove.

E）areonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.2SavingsandLoanAssociations

QuestionStatus:

PreviousEdition

2）Whichofthefollowingstatementsaboutmutualsavingsbanksaretrue?

A）Therearecurrentlyunder200mutualsavingsbanksintheUnitedStates.

B）Mostmutualsavingsbanksarefederallychartered.

C）BothAandBoftheabovearetrue.

D）Noneoftheabovearetrue.

Answer:

D

Topic:

Chapter26.1MutualSavingsBanks

QuestionStatus:

PreviousEdition

3）Whichofthefollowingstatementsconcerningthemutualformofownershipofsavingsbanksaretrue?

A）Themutualformofownershipaccentuatestheprincipal-agentproblemthatexistsincorporations.

B）Morecapitalisavailable,contributingtothesafetyofmutualsavingsbankscomparedtootherbankingorganizations.

C）Managersofmutualsavingsbanksaremoreriskaversethaninthecorporateform,becausethevalueoftheirownershipdoesnotincreaseifthefirmdoeswell.

D）Alloftheabovearetrue.

E）OnlyAandBoftheabovearetrue.

Answer:

D

Topic:

Chapter26.1MutualSavingsBanks

QuestionStatus:

PreviousEdition

4）Savingsandloanassociations

A）wereestablishedbyCongresstoencouragehomeownership.

B）initiallywerenotpermittedtoacceptdemanddeposits.

C）heldabout85percentoftheirassetsintheformofmortgagespriortotheGreatDepression.

D）arealloftheabove.

E）areonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.2SavingsandLoanAssociations

QuestionStatus:

PreviousEdition

5）Savingsandloansassociations

A）initiallywereallowedtoattractfundsbyofferingsavingsaccountsthatpaidaslightlyhigherinterestratethanthatofferedbycommercialbanks.

B）heldabout85percentoftheirtotalassetsasmortgagespriortotheGreatDepression.

C）didnotweathertheGreatDepressionwell,asthousandsofS&Lsfailedinthe1930s.

D）arealloftheabove.

E）areonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.2SavingsandLoanAssociations

QuestionStatus:

PreviousEdition

6）Thrifts

A）fueledthehome-buildingboomfrom1934-1978.

B）sufferedinthe1970sasinflationroseabovedepositinterestrateceilings.

C）havegrowninimportanceinattractingdepositsrelativetocommercialbankssince1980.

D）arealloftheabove.

E）areonlyAandBoftheabove.

Answer:

E

Topic:

Chapter26.2SavingsandLoanAssociations

QuestionStatus:

PreviousEdition

7）Thriftssufferedproblemsinthe1970sas

A）marketinterestratesroseabovetheratesthriftscouldpayondepositsandsavingsaccounts.

B）thriftcustomersmovedtheirfundsfromthriftstomoneymarketmutualfunds.

C）governmentregulatorsseverelylimitedthescopeofactivitiesthatthriftscouldundertaketogrowtheirwayoutoftrouble.

D）alloftheaboveoccurred.

E）onlyAandBoftheaboveoccurred.

Answer:

E

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

8）Intheearlystagesofthebankingcrisisinthe1980s,financialinstitutionswereespeciallyhurtby

A）thesharpincreasesininterestratesfromlate1979until1981.

B）thesevererecessionin1981-82.

C）thesharpdeclineinthepricelevelfrommid-1980toearly1983.

D）alloftheabove.

E）onlyAandBoftheabove.

Answer:

E

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

9）Intheearlystagesofthebankingcrisisinthe1980s,financialinstitutionswereespeciallyharmedby

A）declininginterestratesfromlate1979until1981.

B）thesevererecessionin1981-82.

C）thedisinflationfrommid-1980toearly1983.

D）alloftheabove.

Answer:

B

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

10）Savingsandloanslostatotalof$10billionin1981-1982duetoacombinationofrisinginterestratesin1979-1981and

A）therecessionof1981-1982thatreducedrealestatepricesenoughtocausesignificantloandefaults.

B）theregulatoryrestrictionsenactedbyCongressin1981and1982.

C）thelossofmarketsharetocommercialbanksthatwereallowedtocompetedirectlywiththriftsintherealestatemarket.

D）theaccelerationofinflationin1981-1982thatcausedthriftstoloseadditionalfundstomoneymarketmutualfunds.

Answer:

A

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

11）Inthe1980s,thriftinstitutions,whichhadbeenalmostentirelyrestrictedtomakingloansforhomemortgagesonly,wereallowedbyregulatorsto

A）financeacquisitionsincommercialrealestate.

B）extendconsumerloans.

C）purchasejunkbonds.

D）doalloftheabove.

E）doonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

12）Thegovernmentgrantedthriftsgreaterpowersintheearly1980sinhopesofturningtheindustry'sproblemsaround.Thesepowers

A）requiredgreaterexpertiseinmanagingriskthanmanythriftmanagerspossessed.

B）encouragedthriftstoexpandlendingrapidlyinrealestate,increasingtheirexposuretorisk.

C）expandedthescopeandcomplexityofthriftlendingactivitiesthatwentbeyondwhatregulatorscouldeffectivelymonitor,giventheirlimitedresources.

D）didalloftheabove.

E）didonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

13）WhennearlyhalfoftheS&LsintheUnitedStateshadanegativenetworthandwerethusinsolventbytheendof1982,regulatorsadoptedapolicyof________,whichamountedto________capitalrequirements.

A）regulatoryforbearance;raising

B）regulatoryforbearance;lowering

C）regulatorystringency;raising

D）regulatorystringency;lowering

Answer:

B

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

14）Thepolicyof________exacerbated________problemsassavingsandloanstookonincreasinglyhugelevelsofriskontheslimchanceofreturningtosolvency.

A）regulatoryforbearance;moralhazard

B）regulatoryforbearance;adverseselection

C）regulatorystringency;moralhazard

D）regulatorystringency;adverseselection

Answer:

A

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

15）Whichofthefollowingreasonsexplainwhyfederalregulatorsadoptedapolicyofregulatoryforbearancetowardinsolventfinancialinstitutionsintheearly1980s?

A）TheFSLIClackedsufficientfundstocoverinsureddepositsintheinsolventS&Ls.

B）Theregulatorswerereluctanttoclosethefirmsthatjustifiedtheirregulatoryexistence.

C）TheFederalHomeLoanBankBoardandtheFSLICwerereluctanttoadmitthattheywereinovertheirheadswithproblems.

D）Alloftheabovearereasons.

E）OnlyAandBoftheabovearereasons.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

16）Thepolicyofregulatoryforbearance

A）meantdelayingtheclosingof"zombieS&Ls"astheirlossesmountedduringthe1980s.

B）benefited"zombieS&Ls"attheexpenseofhealthyS&Ls,ashealthyinstitutionslostdepositstoinsolventinstitutions.

C）contributedtodecliningprofitabilityintheS&Lindustryandanincreaseinthenumberof"zombieS&Ls."

D）didalloftheabove.

E）didonlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

17）Thepolicyofregulatoryforbearance

A）meantdelayingtheclosingof"zombieS&Ls"astheirlossesmountedduringthe1980s.

B）benefited"zombieS&Ls"attheexpenseofhealthyS&Ls,ashealthyinstitutionslostdepositstoinsolventinstitutions.

C）hadtheadvantageofbenefitinghealthyS&Lsbygivingthemtheopportunitytoattractdepositsthatbegantoleavethe"zombieS&Ls."

D）didbothAandBoftheabove.

E）didbothAandCoftheabove.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

18）Whichofthefollowingarereasonsthatexplainwhyregulatorspursuedapolicyofregulatoryforbearancetowardthriftsintheearly1980s?

A）RegulatorsknewthattheFSLICdidnothavesufficientfundstocloseinsolventS&Lsandpayofftheirdepositors.

B）Regulatorswereprobablytooclosetothepeopletheyweresupposedtoberegulatingtoclosedownthriftsandputthemoutofbusiness.

C）Regulatorspreferredtosweeptheproblemsthatthriftsweresufferingundertheruginthehopethattheywouldgoawayastheeconomyimproved.

D）Alloftheaboveexplainregulatoryforbearance.

E）OnlyAandBoftheaboveexplainregulatoryforbearance.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

19）Examplesofthehugerisksthat"zombieS&Ls"undertookinclude

A）buildingshoppingcentersinthedesert.

B）buyingmanufacturingplantstoconvertmanuretomethane.

C）purchasingbillionsofdollarsofjunkbonds.

D）alloftheabove.

E）onlyAandBoftheabove.

Answer:

D

Topic:

Chapter26.3SavingsandLoansinTrouble:

TheThriftCrisis

QuestionStatus:

PreviousEdition

20）"ZombieS&Ls"

A）paidabovemarketinterestratestoattractdepositstofu