金融市场学双语题库及答案第二十六章米什金《金融市场与机构》Word文档下载推荐.docx
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金融市场学双语题库及答案第二十六章米什金《金融市场与机构》Word文档下载推荐.docx
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Topic:
Chapter26.2SavingsandLoanAssociations
QuestionStatus:
PreviousEdition
2)Whichofthefollowingstatementsaboutmutualsavingsbanksaretrue?
A)Therearecurrentlyunder200mutualsavingsbanksintheUnitedStates.
B)Mostmutualsavingsbanksarefederallychartered.
C)BothAandBoftheabovearetrue.
D)Noneoftheabovearetrue.
Chapter26.1MutualSavingsBanks
3)Whichofthefollowingstatementsconcerningthemutualformofownershipofsavingsbanksaretrue?
A)Themutualformofownershipaccentuatestheprincipal-agentproblemthatexistsincorporations.
B)Morecapitalisavailable,contributingtothesafetyofmutualsavingsbankscomparedtootherbankingorganizations.
C)Managersofmutualsavingsbanksaremoreriskaversethaninthecorporateform,becausethevalueoftheirownershipdoesnotincreaseifthefirmdoeswell.
D)Alloftheabovearetrue.
E)OnlyAandBoftheabovearetrue.
4)Savingsandloanassociations
A)wereestablishedbyCongresstoencouragehomeownership.
B)initiallywerenotpermittedtoacceptdemanddeposits.
C)heldabout85percentoftheirassetsintheformofmortgagespriortotheGreatDepression.
5)Savingsandloansassociations
A)initiallywereallowedtoattractfundsbyofferingsavingsaccountsthatpaidaslightlyhigherinterestratethanthatofferedbycommercialbanks.
B)heldabout85percentoftheirtotalassetsasmortgagespriortotheGreatDepression.
C)didnotweathertheGreatDepressionwell,asthousandsofS&
Lsfailedinthe1930s.
6)Thrifts
A)fueledthehome-buildingboomfrom1934-1978.
B)sufferedinthe1970sasinflationroseabovedepositinterestrateceilings.
C)havegrowninimportanceinattractingdepositsrelativetocommercialbankssince1980.
E
7)Thriftssufferedproblemsinthe1970sas
A)marketinterestratesroseabovetheratesthriftscouldpayondepositsandsavingsaccounts.
B)thriftcustomersmovedtheirfundsfromthriftstomoneymarketmutualfunds.
C)governmentregulatorsseverelylimitedthescopeofactivitiesthatthriftscouldundertaketogrowtheirwayoutoftrouble.
D)alloftheaboveoccurred.
E)onlyAandBoftheaboveoccurred.
Chapter26.3SavingsandLoansinTrouble:
TheThriftCrisis
8)Intheearlystagesofthebankingcrisisinthe1980s,financialinstitutionswereespeciallyhurtby
A)thesharpincreasesininterestratesfromlate1979until1981.
B)thesevererecessionin1981-82.
C)thesharpdeclineinthepricelevelfrommid-1980toearly1983.
D)alloftheabove.
E)onlyAandBoftheabove.
9)Intheearlystagesofthebankingcrisisinthe1980s,financialinstitutionswereespeciallyharmedby
A)declininginterestratesfromlate1979until1981.
C)thedisinflationfrommid-1980toearly1983.
B
10)Savingsandloanslostatotalof$10billionin1981-1982duetoacombinationofrisinginterestratesin1979-1981and
A)therecessionof1981-1982thatreducedrealestatepricesenoughtocausesignificantloandefaults.
B)theregulatoryrestrictionsenactedbyCongressin1981and1982.
C)thelossofmarketsharetocommercialbanksthatwereallowedtocompetedirectlywiththriftsintherealestatemarket.
D)theaccelerationofinflationin1981-1982thatcausedthriftstoloseadditionalfundstomoneymarketmutualfunds.
A
11)Inthe1980s,thriftinstitutions,whichhadbeenalmostentirelyrestrictedtomakingloansforhomemortgagesonly,wereallowedbyregulatorsto
A)financeacquisitionsincommercialrealestate.
B)extendconsumerloans.
C)purchasejunkbonds.
D)doalloftheabove.
E)doonlyAandBoftheabove.
12)Thegovernmentgrantedthriftsgreaterpowersintheearly1980sinhopesofturningtheindustry'
sproblemsaround.Thesepowers
A)requiredgreaterexpertiseinmanagingriskthanmanythriftmanagerspossessed.
B)encouragedthriftstoexpandlendingrapidlyinrealestate,increasingtheirexposuretorisk.
C)expandedthescopeandcomplexityofthriftlendingactivitiesthatwentbeyondwhatregulatorscouldeffectivelymonitor,giventheirlimitedresources.
D)didalloftheabove.
E)didonlyAandBoftheabove.
13)WhennearlyhalfoftheS&
LsintheUnitedStateshadanegativenetworthandwerethusinsolventbytheendof1982,regulatorsadoptedapolicyof________,whichamountedto________capitalrequirements.
A)regulatoryforbearance;
raising
B)regulatoryforbearance;
lowering
C)regulatorystringency;
D)regulatorystringency;
14)Thepolicyof________exacerbated________problemsassavingsandloanstookonincreasinglyhugelevelsofriskontheslimchanceofreturningtosolvency.
moralhazard
adverseselection
15)Whichofthefollowingreasonsexplainwhyfederalregulatorsadoptedapolicyofregulatoryforbearancetowardinsolventfinancialinstitutionsintheearly1980s?
A)TheFSLIClackedsufficientfundstocoverinsureddepositsintheinsolventS&
Ls.
B)Theregulatorswerereluctanttoclosethefirmsthatjustifiedtheirregulatoryexistence.
C)TheFederalHomeLoanBankBoardandtheFSLICwerereluctanttoadmitthattheywereinovertheirheadswithproblems.
D)Alloftheabovearereasons.
E)OnlyAandBoftheabovearereasons.
16)Thepolicyofregulatoryforbearance
A)meantdelayingtheclosingof"
zombieS&
Ls"
astheirlossesmountedduringthe1980s.
B)benefited"
attheexpenseofhealthyS&
Ls,ashealthyinstitutionslostdepositstoinsolventinstitutions.
C)contributedtodecliningprofitabilityintheS&
Lindustryandanincreaseinthenumberof"
Ls."
17)Thepolicyofregulatoryforbearance
C)hadtheadvantageofbenefitinghealthyS&
Lsbygivingthemtheopportunitytoattractdepositsthatbegantoleavethe"
D)didbothAandBoftheabove.
E)didbothAandCoftheabove.
18)Whichofthefollowingarereasonsthatexplainwhyregulatorspursuedapolicyofregulatoryforbearancetowardthriftsintheearly1980s?
A)RegulatorsknewthattheFSLICdidnothavesufficientfundstocloseinsolventS&
Lsandpayofftheirdepositors.
B)Regulatorswereprobablytooclosetothepeopletheyweresupposedtoberegulatingtoclosedownthriftsandputthemoutofbusiness.
C)Regulatorspreferredtosweeptheproblemsthatthriftsweresufferingundertheruginthehopethattheywouldgoawayastheeconomyimproved.
D)Alloftheaboveexplainregulatoryforbearance.
E)OnlyAandBoftheaboveexplainregulatoryforbearance.
19)Examplesofthehugerisksthat"
undertookinclude
A)buildingshoppingcentersinthedesert.
B)buyingmanufacturingplantstoconvertmanuretomethane.
C)purchasingbillionsofdollarsofjunkbonds.
20)"
ZombieS&
A)paidabovemarketinterestratestoattractdepositstofu
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