金融市场与机构(第六版)测试银行ch184069.pdf

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1、1 Financial Markets and Institutions,6e(Mishkin/Eakins)Chapter 18 Commercial Banking Industry:Structure and Competition 18.1 Multiple Choice 1)The modern commercial banking system began in America when the A)Bank of the United States was chartered in New York in 1801.B)Bank of North America was char

2、tered in Philadelphia in 1782.C)Bank of the United States was chartered in Philadelphia in 1801.D)Bank of North America was chartered in New York in 1782.Answer:B Question Status:Previous Edition 2)A major controversy involving the U.S.banking industry in its early years was A)whether banks should b

3、oth accept deposits and make loans or whether these functions should be separated into different institutions.B)whether the federal government or the states should charter banks.C)what percent of deposits banks should hold as fractional reserves.D)whether banks should be allowed to issue their own b

4、ank notes.Answer:B Question Status:Previous Edition 3)The government institution that has responsibility for the amount of money and credit supplied in the economy as a whole is the A)central bank.B)commercial bank.C)bank of settlement.D)Treasury Department.Answer:A Question Status:Previous Edition

5、4)Because of the abuses by state banks and the clear need for a central bank to help the federal government raise funds during the War of 1812,Congress created the A)First Bank of the United States in 1812.B)Bank of North America in 1814.C)Second Bank of the United States in 1816.D)Federal Reserve S

6、ystem in 1813.Answer:C Question Status:Previous Edition 5)The Second Bank of the United States was denied a new charter by A)President Andrew Jackson.B)Vice-President John Calhoun.C)President Benjamin Harrison.D)President John Q.Adams.Answer:A Question Status:Previous Edition 2 6)Before 1863,A)feder

7、ally-chartered banks had regulatory advantages not granted to state-chartered banks.B)the number of federally-chartered banks grew at a much faster rate than at any other time since the end of the Civil War.C)banks acquired funds by issuing banknotes.D)the Federal Reserve System regulated only feder

8、ally-chartered banks.E)the Comptroller of the Currency regulated both state-and federally-chartered banks.Answer:C Question Status:Previous Edition 7)Before 1863,A)the Federal Reserve System regulated only federally-chartered banks.B)the Comptroller of the Currency regulated both state-and federally

9、-chartered banks.C)the number of federally-chartered banks grew at a much faster rate than at any other time since the end of the Civil War.D)none of the above.Answer:D Question Status:Previous Edition 8)Although federal banking legislation in the 1860s attempted to eliminate state-chartered banks b

10、y imposing a prohibitive tax on banknotes,these banks have been able to stay in business by A)issuing credit cards.B)ignoring the regulations.C)issuing deposits.D)branching into other states.Answer:C Question Status:Previous Edition 9)The belief that bank failures were regularly caused by fraud or t

11、he lack of sufficient bank capital explains,in part,the passage of A)the National Bank Charter Amendments of 1918.B)the Glass-St.Germain Act of 1982.C)the National Bank Act of 1863.D)none of the above.Answer:C Question Status:Previous Edition 10)To eliminate the abuses of the state-chartered banks,t

12、he _ created a new banking system of federally chartered banks,supervised by the _ A)National Banking Act of 1863;Office of the Comptroller of the Currency.B)Federal Reserve Act of 1863;Office of the Comptroller of the Currency.C)National Banking Act of 1863;Office of Thrift Supervision.D)Federal Re

13、serve Act of 1863;Office of Thrift Supervision.Answer:A Question Status:Previous Edition 3 11)The National Banking Act of 1863,and subsequent amendments to it,A)created a banking system of federally-chartered banks.B)established the Office of the Comptroller of the Currency.C)broadened the regulator

14、y powers of the Federal Reserve.D)did all of the above.E)did only A and B of the above.Answer:E Question Status:Previous Edition 12)The regulatory system that has evolved in the United States whereby banks are regulated at the state level,the national level,or both,is known as a A)bilateral regulato

15、ry system.B)tiered regulatory system.C)two-tiered regulatory system.D)dual banking system.Answer:D Question Status:Previous Edition 13)Today the United States has a dual banking system in which banks supervised by the _ and by the _ operate side-by-side.A)federal government;municipalities B)state go

16、vernments;municipalities C)federal government;states D)municipalities;states Answer:C Question Status:Previous Edition 14)The Federal Reserve Act of 1913 required that A)state banks be subject to the same regulations as national banks.B)national banks establish branches in the cities containing Fede

17、ral Reserve banks.C)national banks join the Federal Reserve System.D)all of the above be done.Answer:C Question Status:Previous Edition 15)The Federal Reserve Act required all _ banks to become members of the Federal Reserve System,while _ banks could choose to become members of the system.A)state;n

18、ational B)state;municipal C)national;state D)national;municipal Answer:C Question Status:Previous Edition 4 16)With the creation of the Federal Deposit Insurance Corporation,member banks of the Federal Reserve System _ to purchase FDIC insurance for their depositors,while non-member commercial banks

19、 _ to buy deposit insurance.A)could choose;were required B)could choose;were given the option C)were required,could choose D)were required;were required Answer:C Question Status:Previous Edition 17)With the creation of the Federal Deposit Insurance Corporation,A)member banks of the Federal Reserve S

20、ystem were given the option to purchase FDIC insurance for their depositors,while non-member commercial banks were required to buy deposit insurance.B)member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors,while non-member commercial banks could choo

21、se to buy deposit insurance.C)both member and non-member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors.D)both member and non-member banks of the Federal Reserve System could choose,but were not required,to purchase FDIC insurance for their deposito

22、rs.Answer:B Question Status:Previous Edition 18)Probably the most significant factor explaining the drastic drop in the number of bank failures since the Great Depression has been A)the creation of the FDIC.B)rapid economic growth since 1941.C)the employment of new procedures by the Federal Reserve.

23、D)better bank management.Answer:A Question Status:Previous Edition 19)Investment banking activities of the commercial banks were blamed for many bank failures.This led to A)the passage of the National Bank Charter Amendments Act of 1918.B)the passage of the Garn-St.Germain Act of 1982.C)the passage

24、of the National Bank Act of 1863.D)the passage of the Glass-Steagall Act of 1933.E)the establishment of the Federal Deposit Insurance Corporation in 1933.Answer:D Question Status:Previous Edition 20)The Glass-Steagall Act prohibited commercial banks from A)issuing equity to finance bank expansion.B)

25、engaging in underwriting of and dealing in corporate securities.C)selling new issues of government securities.D)purchasing any debt securities.Answer:B Question Status:Previous Edition 5 21)Which bank regulatory agency has the sole regulatory authority over bank holding companies?A)The Federal Depos

26、it Insurance Corporation B)The Comptroller of the Currency C)The Federal Bank Holding Company Agency D)The Federal Reserve System Answer:D Question Status:Previous Edition 22)State banks that are not members of the Federal Reserve System are most likely to be examined by the A)Federal Reserve System

27、.B)Federal Deposit Insurance Corporation.C)Federal Home Loan Bank System.D)Comptroller of the Currency.Answer:B Question Status:Previous Edition 23)Which regulatory body charters national banks?A)The Federal Reserve B)The Federal Deposit Insurance Corporation C)The Comptroller of the Currency D)None

28、 of the above Answer:C Question Status:Previous Edition 24)Which of the following statements concerning bank regulation in the United States are true?A)The Office of the Comptroller of the Currency has the primary responsibility for national banks.B)The Federal Reserve and the state banking authorit

29、ies jointly have responsibility for state banks that are members of the Federal Reserve System.C)The Fed has sole regulatory responsibility over bank holding companies.D)All of the above are true.E)Only A and B of the above are true.Answer:D Question Status:Previous Edition 25)Which of the following

30、 statements concerning bank regulation in the United States are true?A)The Office of the Comptroller of the Currency has the primary responsibility for state banks that are members of the Federal Reserve System.B)The Federal Reserve and the state banking authorities jointly have responsibility for s

31、tate banks that are members of the Federal Reserve System.C)The Office of the Comptroller of the Currency has sole regulatory responsibility over bank holding companies.D)All of the above are true.E)Only A and B of the above are true.Answer:B Question Status:Previous Edition 6 26)Which of the follow

32、ing are important factors in determining the degree and timing of financial innovation?A)Changes in technology B)Changes in financial market conditions C)Changes in regulation D)All of the above E)Only A and B of the above Answer:D Question Status:Previous Edition 27)New computer technology has A)in

33、creased the cost of financial innovation.B)increased the demand for financial innovation.C)reduced the cost of financial innovation.D)reduced the demand for financial innovation.Answer:C Question Status:Previous Edition 28)Rising interest-rate risk _ the _ financial innovation.A)increased;cost of B)

34、increased;demand for C)reduced;cost of D)reduced;demand for Answer:B Question Status:Previous Edition 29)Large fluctuations in interest rates lead to A)substantial capital gains and losses to owners of securities.B)greater uncertainty about returns on investments.C)greater interest-rate risk.D)all o

35、f the above.Answer:D Question Status:Previous Edition 30)In the 1950s the interest rate on three-month Treasury bills fluctuated between 1.0%and 3.5%.In the 1980s,the three-month Treasury bill rate ranged from 5%to over 15%.From this one could predict that in the 1980s interest-rate risk was _ and t

36、he demand for financial innovation was _.A)greater;lower B)greater;greater C)lower;lower D)lower;greater Answer:B Question Status:Previous Edition 7 31)The most significant change in the economic environment that changed the demand for financial products since 1970 has been A)the aging of the baby-b

37、oomer generation.B)the dramatic increase in the volatility of interest rates.C)the dramatic increase in competition from foreign banks.D)the deregulation of financial institutions.Answer:B Question Status:Previous Edition 32)Adjustable-rate mortgages A)protect households against higher mortgage paym

38、ents when interest rates rise.B)keep financial institutions earnings high even when interest rates are falling.C)have many attractive attributes,explaining why so few households now seek fixed-rate mortgages.D)do only A and B of the above.E)none of the above.Answer:E Question Status:Previous Edition

39、 33)Adjustable-rate mortgages A)benefit homeowners when interest rates are falling.B)reduce financial institutions interest-rate risk.C)reduce households risk of having to pay higher mortgage payments when interest rates rise.D)do only A and B of the above.Answer:D Question Status:Previous Edition 3

40、4)The most important source of the changes in supply conditions that stimulate financial innovation has been the A)aging of the baby-boomer generation.B)dramatic increase in the volatility of interest rates.C)improvement in information technology.D)dramatic increase in competition from foreign banks

41、.E)deregulation of financial institutions.Answer:C Question Status:Previous Edition 35)Examples of financial services that became practical realities as the result of new computer technology include A)credit cards.B)electronic banking facilities.C)checking accounts.D)all of the above.E)only A and B

42、of the above.Answer:E Question Status:Previous Edition 8 36)Credit cards date back to A)prior to World War II.B)just after World War II.C)the early 1950s.D)the late 1950s.Answer:A Question Status:Previous Edition 37)A firm issuing credit cards earns income from A)loans it makes to credit card holder

43、s.B)payments made to it by stores on credit card purchases.C)payments made to it by manufacturers of the products sold in stores on credit card purchases.D)all of the above.E)only A and B of the above.Answer:E Question Status:Previous Edition 38)The entry of Sears,AT&T and GM into the credit card bu

44、siness is an indication of A)governments efforts to deregulate the provision of financial services.B)the rising profitability of credit card operations.C)the reduction in costs of credit card operations since 1990.D)the sale of unprofitable operations by Bank of America and Citicorp.Answer:B Questio

45、n Status:Previous Edition 39)A smart-card is a form of A)stored-value card.B)credit card.C)debit card.D)e-cash card.Answer:A Question Status:Previous Edition 40)Which of the following is not a financial innovation stimulated by information technology?A)Credit card B)Debit card C)Adjustable-rate mort

46、gage D)Electronic banking Answer:C Question Status:Previous Edition 41)Which of the following is an example of a financial innovation introduced to avoid regulations?A)Securitization B)Junk bond C)Debit card D)Sweep account Answer:D Question Status:Previous Edition 9 42)Stripping a Treasury bond A)m

47、eans selling each of its future payments as a separate zero-coupon bond.B)decreases the total present discounted value of future payments.C)both A and B.D)none of the above.Answer:A Question Status:Previous Edition 43)So-called fallen angels differ from junk bonds in that A)junk bonds refer to previ

48、ously issued bonds which have had their credit ratings fall below Baa.B)fallen angels refer to newly issued bonds with low credit ratings.C)junk bonds refer to newly issued bonds with low credit ratings.D)both A and B of the above.Answer:C Question Status:Previous Edition 44)So-called fallen angels

49、differ from junk bonds in that A)junk bonds refer to newly issued bonds with low credit ratings,whereas fallen angels refer to previously issued bonds which have had their credit ratings fall below Baa.B)junk bonds refer to previously issued bonds which have had their credit ratings fall below Baa,w

50、hereas fallen angels refer to newly issued bonds with low credit ratings.C)junk bonds have ratings below Baa,whereas fallen angels have ratings below C.D)fallen angels have ratings below Baa,whereas junk bonds have ratings below C.Answer:A Question Status:Previous Edition 45)High-yield bonds rated b