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Chapter 17: Banking Quiz
Test your knowledge of the banking chapter material!
1 / 10
According to the Federal Reserve, how many bank branches closed between early 2020 to mid 2021 amidst the COVID pandemic?
Answer can be found on page 178.
Correct!
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
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.
4 / 10
In banking, a loan is considered _____ on a bank’s balance sheet.
Answer can be found on pages 184, 186.
5 / 10
What is another name for a fully digital bank that has no physical location?
6 / 10
True or false: The Fed, FDIC, and OCC have local offices in many regions.
Answer can be found on page 182.
Correct! Get to know the people in these offices, as they can be helpful resources.
7 / 10
What did the Anti-Money Laundering Act of 2020 accomplish?
Answer can be found on page 180.
8 / 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.
9 / 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.
10 / 10
Under which of the following can you find a banking profile for your individual state?
Correct! You can find individual state banking profiles under the Analysis section in the FDIC website.
Your score is
The average score is 53%
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