21. What is the primary objective of the Sarbanes-Oxley Act?
a) Strengthen corporate governance and financial transparency
b) Promote competition in the banking sector
c) Protect consumers from unfair lending practices
d) Establish international accounting standards
22. Which major banking reform aimed to address the risks associated with over-the-counter (OTC) derivatives?
a) Dodd-Frank Act
b) Basel III
c) Glass-Steagall Act
d) Volcker Rule
23. What is the purpose of regulating over-the-counter (OTC) derivatives?
a) Mitigate systemic risk in the financial system
b) Promote transparency and standardized trading of derivatives
c) Ensure adequate capital requirements for derivatives trading
d) All of the above
24. Which banking reform incentivized whistleblowing to detect and deter fraudulent activities?
a) Basel III
b) Dodd-Frank Act
c) Sarbanes-Oxley Act
d) Glass-Steagall Act
25. Which major banking reform aimed to prevent the recurrence of financial crises and mitigated the “too big to fail” problem?
a) Dodd-Frank Act
b) Basel II
c) Volcker Rule
d) Glass-Steagall Act
