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Banking Section Test 2
Test Description: 2nd review test for Banking section
Instructions: Answer all questions to get your test result.
1) What did the Glass-Steagall Act establish?
A
open market operation
B
FDIC
C
discount rate
D
bailouts
2) A loan given to financial institutions or businesses on the verge of closing is called a
A
FOMC
B
bank run
C
bailout
D
RRR
3) Two main sources of income for the FDIC are
A
premium payments by insured banks and investments in US Treasury bonds
B
premium payments by insured banks and FDIC
C
premium payments by insured banks and bailouts
D
premium payments by insured banks and discount rates
4) The Dodd-Frank Wall Street Reform and Consumer Protection Act of July 2010 made $____ the permanent amount insured by the FDIC.
A
$100,000
B
$150,000
C
$250,000
D
$200,000
5) What is disposable income?
A
all inflation-payments
B
all taxes-income
C
all income-taxes
D
all payments-inflation
6) Slow economic growth is called
A
expansionary
B
inflation
C
bank run
D
bailout
7) Which of the following is NOT a tool used by the government to affect aggregate spending?
A
disposable income
B
transfer payments
C
taxes
D
government purchases
8) Loans given to people who do not meet the requirements needed for the loan are called
A
bailout loans
B
prime loans
C
transfer loans
D
subprime loans
9) ____ are payments made by the government to households that provide neither goods/services to the government.
A
subprime payments
B
bailout payments
C
transfer payments
D
prime payments
10) What type of policy would the government use to overcome a recession?
A
contractionary monetary policy
B
expansionary monetary policy
C
fiscal policy
D
none of these
*select an answer for all questions
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