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Chapter 17: Banking Quiz
Test your knowledge of the banking chapter material!
1 / 10
True or false: State-charted institutions and national banks are supervised by the same regulators.
There are some differences between them. You can check the cheat sheet on page 185 for more information.
Correct! There are some differences between them. You can check the cheat sheet on page 185 for more information.
2 / 10
What is another name for a fully digital bank that has no physical location?
Answer can be found on page 183.
Correct!
3 / 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.
4 / 10
What is the result if withdrawals from a checking account exceed the available funds?
Answer can be found on page 187.
5 / 10
What did the Durbin Amendment add to the Dodd-Frank Act?
Answer can be found on page 180.
6 / 10
How can you check if a bank is FDIC-insured?
Correct! This is a public tool on the FDIC’s website.
7 / 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.
8 / 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.
9 / 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.
10 / 10
Which of the following resources can teach you more about the evolution of banking laws?
Your score is
The average score is 60%
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