Sec 3 Unit 2 Exam

A  Interest rates will increase.

B  Banks will have less money to lend.

C  The economy may slow down due to a smaller money supply.

D  The economy may grow due to an increased money supply.

A  It is a governmental agency.

B  Twelve district banks comprise the Fed.

C  All banks must belong to the Federal Reserve.

D  Members of the Board of Governors serve 12-year terms.

A  Adjustable rate

B  Discount rate

C  Prime rate

D  Federal funds rate

A  The two-business-day period after a loan closes, during which the borrower can cancel the loan.

B  The three-business-day period from the date a transaction is consummated or disclosures are delivered to the borrower, whichever is later, during which the borrower can cancel the loan

C  It’s another term for squatting, in which a consumer unlawfully occupies a residence.

D  It’s the right of a consumer to take ownership of a property through the foreclosure process.

A  Decreased rates

B  Decreased reserve requirements

C  Increased rates

D  Increased reserve requirements

A  Federal funds rate

B  Prime rate

C  Adjustable rate

D  Discount rate

A  Member banks must increase interest rates on the loans they make.

B  Member banks cannot lend as much money to the public.

C  Member banks can keep fewer assets on deposit at the reserve bank.

D  Member banks must keep more assets on deposit at the reserve bank.