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Chapter1AnOverviewoftheChangingFinancial-ServicesSectorFillintheBlankQuestions1._______________________isatraditionalserviceprovidedbybanksinwhichthebanksstorethevaluablesoftheircustomersandcertifytheirtruevalue.Answer:Safekeepingofvaluables2.Thefactthatfinancialinstitutionsmakeloansbasedonconfidentialinformationisthe_______________________theoryofbanking.Answer:delegatedmonitoring3._______________________referstowhenafinancialinstitutiontradesoneformofcurrencyforanother.Anexampleofthiswouldbewhenthebanktradesdollarsforyenforafee.Answer:currencyexchange4.A(n)_______________________isatraditionalservicewhichpermitsadepositortowriteadraft（汇票）inpaymentforgoodsandservices.Answer:demanddeposit(checkingaccount)5._______________________isaserviceprovidedbybankswherethebanklendsmoneytoindividualsforthepurchaseofdurableandothergoods.Answer:Consumerlending6.The_______________________ofabankisatraditionalservicewherethebankmanagesthefinancialaffairsandpropertyofindividuals(andinsomecasesbusinesses).Answer:trustservices7.CompaniessuchasMerrillLynchandSearswhichofferedsomebutnotallbankingservicesinthe1980swerecalled_______________________.Answer:nonbankbanks8.Thelooseningofgovernmentregulationandcontroloffinancialinstitutionsiscalled_______________________.Answer:deregulation9.___________________________isanalternativetolendinginwhichthefinancialinstitutionpurchasestheequipmentandrentsittoitscustomers.Answer:Equipmentleasingservices10.The___________________________isalandmarkactwhichallowsfinancialserviceproviderstoofferanexpandedmenuoffinancialservicesforthecustomer.Thislawallowsbankstotrulybecomeconglomeratefinancialserviceproviders.Answer:FinancialServicesModernizationAct(Gramm-Leach-BlileyAct)11.Thecountrywiththemostbanksis_______________________.Answer:UnitedStates12.AccordingtoCongressa____________isdefinedasanyinstitutionthatcanqualifyfordepositinsuranceadministeredbytheFDIC.Answer:Bank13.Abankwhichspansregions,nations,andcontinents,offeringthewidestmenuoffinancialservicesisknownasa__________bank.Answer:money-centerbank14._____________referstothemovementofbusinessesacrossindustrylinesinordertobroadenitsbase.Answer:Convergence15.Bankswhichserveprimarilyhouseholdsandsmallfirmsareknownas____________banks.Answer:retail16.Banksthatselldepositsandmakeloanstobusinessesandindividualsareknownas______banks.Answer:commercial17.Bankswhichunderwriteissuesofnewsecuritiesfortheircorporatecustomersareknownas________banks.Answer:investment18.BankswhichfunctionunderafederalcharterthroughtheComptroller(审计署)oftheCurrencyintheUnitedStatesareknownas____________banks.Answer:National19.Bankswhichsupplybothdebtandequitycapitaltobusinessesareknownas_________banks.Answer:merchant（商人）20.Abankthatoffersitsservicesonlyovertheinternetisknownasa(n).Answer:virtualbank（虚拟银行）21.Whenalocalmerchantsellstheaccountsreceivablestheyholdagainsttheircustomertoabankthisgenerallyknownas.Answer:discountingcommercialnotes22.A(n)offersloanstocommercialenterprises(suchasappliancedealers)ortoindividualsusingfundsborrowedintheopenmarketorfromotherfinancialinstitutions.ExamplesofthistypeoffinancialserviceproviderincludeGMACFinancialServicesandHouseholdFinance.Answer:financecompany23.A(n)buysandsellssecuritiesonbehalfoftheircustomersandfortheirownaccounts.ExamplesofthistypeoffinancialserviceproviderincludeMerrillLynchandCharlesSchwab.Answer:securitybroker(ordealer)24.A(n)sellssharesmainlytoupscaleinvestorsinabroadgroupofdifferentkindsofassetsincludingnontraditionalinvestmentsincommodities,realestate,loanstoailingcompaniesandotherriskyassets.Answer:hedgefund25.Whenabankagreestohandlethecashcollectionsanddisbursementsforacompanyandinvestanytemporarycashsurplusesininterestbearingassets,theyareprovidingservicestotheircustomers.Answer:cashmanagementTrue/FalseQuestionsTF26.UnderU.S.federallaw,aninstitutionmakingonlyloanstohouseholdsandofferinguninsuredcheckabledepositsandsavingsdepositsqualifiesasacommercialbank.Answer:FalseTF27.Nonbankbankscanofferdepositstothepublic,butthesedepositsarenoteligible（合适的）forinsurancecoveragebytheFDIC.Answer:FalseTF28.TheetymologicalrootsofthewordbanktracethiswordbacktoanItaliantermreferringtoamoney-changer'stable.Answer:TrueTF29.Accordingtothetextbook,banksarethosefinancialinstitutionsthattodayofferthewidestrangeoffinancialservicesofanybusinessfirmintheeconomy.Answer:TrueTF30.Accordingtothedelegatedmonitoringtheorybanksareabletoattractborrowingcustomersbecausetheypledgeconfidentiality.Answer:TrueTF31.Managingthefinancialaffairsandpropertyofindividualsandbusinessfirmsfallsunderthetypeofbankingservicelineknownascashmanagementservices.Answer:FalseTF32.Theroleperformedbybanksintheeconomyinwhichtheytransformsavingsintocreditisknownastheintermediationrole.Answer:TrueTF33.Theroleperformedbybanksinwhichtheystandbehindtheircustomerswhenthosecustomersareunabletopayadebtobligationisknownastheguarantorrole.Answer:TrueTF34.Whenbanksserveasconduits（中转机构）forgovernmentpolicythisisreferredtoastheiragencyrole.Answer:FalseTF35.Accordingtothetextbook,high-vol