31. What is the primary objective of regulatory capital requirements?
a) Safeguard against excessive leverage and potential losses
b) Promote competition among financial institutions
c) Ensure profitability of financial institutions
d) Protect consumers from unfair practices
32. Which major banking reform introduced measures to enhance cybersecurity in the financial sector?
a) Basel III
b) Sarbanes-Oxley Act
c) Dodd-Frank Act
d) Gramm-Leach-Bliley Act
33. What is the purpose of cybersecurity measures in the banking sector?
a) Protect sensitive customer information from data breaches
b) Enhance the efficiency and speed of financial transactions
c) Prevent collusion between banks and external entities
d) All of the above
34. Which banking reform legislation aimed to promote fair and accurate credit reporting practices?
a) Sarbanes-Oxley Act
b) Glass-Steagall Act
c) Dodd-Frank Act
d) Fair Credit Reporting Act (FCRA)
35. What is the main objective of the Fair Credit Reporting Act (FCRA)?
a) Protect consumers’ personal and credit information
b) Ensure fair lending practices without discrimination
c) Encourage banks to provide loans in low-income areas
d) Promote competition in the banking sector
