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Chapter 17: Banking Quiz
Test your knowledge of the banking chapter material!
1 / 10
The Federal Reserve is not responsible for:
Answer can be found on page 181.
Correct! The FDIC is the one responsible for insuring deposits and acts as the receiver for most failed banks.
2 / 10
Where can you find an expert list of failed banks?
Correct! The FDIC maintains a list of banks that have failed since October 1, 2000.
3 / 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!
4 / 10
______ is commonly examined for risk of bank failure.
Answer can be found on page 187.
5 / 10
Which of the following did the Dodd-Frank Act not do?
Answer can be found on page 180.
Correct! This act abolished the Office of Thrift Supervision.
6 / 10
Which of the following resources can teach you more about the evolution of banking laws?
7 / 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.
8 / 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.
9 / 10
How can you check if a bank is FDIC-insured?
Answer can be found on page 183.
Correct! This is a public tool on the FDIC’s website.
10 / 10
What is the result if withdrawals from a checking account exceed the available funds?
Your score is
The average score is 60%
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