Major Banking Reforms of 21st century

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11. Which banking reform legislation established the Office of the Comptroller of the Currency (OCC)?

a) Dodd-Frank Act

b) Glass-Steagall Act

c) Sarbanes-Oxley Act

d) Basel III

Answer: b) Glass-Steagall Act
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12. What is the purpose of the Office of the Comptroller of the Currency (OCC)?

a) Supervise and regulate national banks

b) Promote consumer protection in the banking sector

c) Coordinate international banking regulations

d) Develop monetary policies

Answer: a) Supervise and regulate national banks
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13. Which banking reform legislation introduced the concept of stress testing for banks?

a) Basel II

b) Volcker Rule

c) Dodd-Frank Act

d) Basel III

Answer: c) Dodd-Frank Act
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14. What is stress testing in the context of banking reform?

a) Assessing the ability of banks to withstand adverse economic scenarios

b) Evaluating the impact of interest rate changes on banking institutions

c) Determining the capital requirements of banks based on their risk profiles

d) Analyzing the liquidity position of banks during financial crises

Answer: a) Assessing the ability of banks to withstand adverse economic scenarios
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15. Which major banking reform aimed to promote responsible lending practices and eliminate predatory lending?

a) Dodd-Frank Act

b) Basel III

c) Glass-Steagall Act

d) Sarbanes-Oxley Act

Answer: a) Dodd-Frank Act
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