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Money, Banking, and Financial Markets Practice Test: The Banking Industry
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The US banking industry is dominated by four large banks: JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup. These four banks are among the largest in the world, and almost all banks in the country are insured by the Federal Deposit Insurance Corporation (FDIC). The US banking system has a unique structure called the dual banking system, where banks are licensed on either the national or state level, and are overseen by different regulatory agencies depending on their license level.  Here are some other characteristics of the US banking industry: The US has more commercial banks... Show more
Money, Banking, and Financial Markets Practice Test: The Banking Industry
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25 Questions

1. The entry of AT&T and GM into the credit card business is an indication of
2. To eliminate the abuses of the state-chartered banks, the ________ created a new banking system of federally chartered banks, supervised by the ________.
3. ________ is the process of researching and developing profitable new products and services by financial institutions.
4. Adjustable rate mortgages
5. The belief that bank failures were regularly caused by fraud or the lack of sufficient bank capital explains, in part, the passage of
6. Financial innovation has caused
7. One factor contributing to the decline in cost advantages that banks once had is the
8. The U.S. banking system is considered to be a dual system because
9. New computer technology has
10. Because of the abuses by state banks and the clear need for a central bank to help the federal government raise funds during the War of 1812, Congress created the
11. The process of transforming otherwise illiquid financial assets into marketable capital market instruments is know as
12. Mutual savings banks are owned by ________.
13. The National Bank Act of 1863, and subsequent amendments to it,
14. In a ________ banking system, commercial banks engage in securities underwriting, but legal subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system.
15. Unlike banks, ________ have been allowed to branch statewide since 1980.
16. State banks that are not members of the Federal Reserve System are most likely to be examined by the
17. One of the concerns of increased bank consolidation is the reduction in community banks which could result in
18. The most important developments that have reduced banks cost advantages in the past thirty years include:
19. Prior to 1980, the Fed set an interest rate ________ that is a maximum limit on the interest rate that could be paid on time deposits.
20. A major difference between the United States and Japanese banking systems is that
21. The most significant change in the economic environment that changed the demand for financial products in recent years has been
22. The large number of banks in the United States is an indication of
23. Thrift institutions include
24. The government institution that has responsibility for the amount of money and credit supplied in the economy as a whole is the
25. Critics of nationwide banking fear

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