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Chapter 17: Banking Quiz
Test your knowledge of the banking chapter material!
1 / 10
Where can you find an expert list of failed banks?
Answer can be found on page 181.
Correct! The FDIC maintains a list of banks that have failed since October 1, 2000.
2 / 10
As of 2024, approximately how many banking deserts were in the United States?
Answer can be found on page 183.
Correct! Banking deserts are more likely to occur in underserved, rural, and low-income areas.
3 / 10
How can you check if a bank is FDIC-insured?
Correct! This is a public tool on the FDIC’s website.
4 / 10
What is the result if withdrawals from a checking account exceed the available funds?
Answer can be found on page 187.
Correct!
5 / 10
The acronym CAMEL represents the rating system regulators use for examining banks. What does the L stand for?
Answer can be found on page 186.
Correct! CAMEL stands for Capital, Asset quality, Management, Earnings and Liquidity.
6 / 10
Which of the following resources can teach you more about the evolution of banking laws?
Answer can be found on page 180.
7 / 10
What did the Anti-Money Laundering Act of 2020 accomplish?
8 / 10
What is another name for a fully digital bank that has no physical location?
9 / 10
Which of the following would qualify as a banking desert?
Answer can be found on page 182-183.
Correct! The correct radius to qualify as a banking desert is no physical branch within 2 miles for urban areas, 5 miles for suburban areas, and 10 miles for rural areas.
10 / 10
True or false: Bank failures no longer happen in today’s world.
Bank failures still happen - one of the most dramatic being the collapse of Silicon Valley Bank in 2023, the second-largest bank failure in U.S. history. Read more on page 178.
Correct! Bank failures still happen - one of the most dramatic being the collapse of Silicon Valley Bank in 2023, the second-largest bank failure in U.S. history.
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