41. Which banking reform legislation introduced the concept of living wills for financial institutions?
a) Basel III
b) Dodd-Frank Act
c) Glass-Steagall Act
d) Sarbanes-Oxley Act
42. What are living wills in the context of banking reform?
a) Detailed plans outlining the orderly resolution of a financial institution in the event of failure
b) Legal documents providing instructions for estate planning
c) Agreements between banks and regulatory authorities to facilitate mergers and acquisitions
d) Instruments used for securitization of mortgage loans
43. Which major banking reform aimed to promote corporate accountability by holding executives responsible for financial misconduct?
a) Sarbanes-Oxley Act
b) Dodd-Frank Act
c) Basel II
d) Glass-Steagall Act
44. What is the purpose of holding executives accountable for financial misconduct in banking reform?
a) Deter fraudulent activities within financial institutions
b) Encourage transparency in financial reporting
c) Restore public trust in the banking sector
d) All of the above
45. Which banking reform legislation introduced the concept of “too big to jail” for large financial institutions?
a) Dodd-Frank Act
b) Basel III
c) Sarbanes-Oxley Act
d) Volcker Rule
