The U.S. Banking System 3rd Edition – Test Bank

1. Bank robbery was a much more serious problem in the 1930s and 1940s. Today, it rarely occurs.
a. True
b. False
ANSWER: False
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.1.1 – LO: 11.1.1

2. Employee training is the core of preventing robbery.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.1.1 – LO: 11.1.1

3. Most banks are required by law to install surveillance cameras and alarms.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.1.1 – LO: 11.1.1

4. Banks lose more money from fraud than from robbery.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.3.1 – LO: 11.3.1

5. Financial institutions lose billions of dollars every year because of money laundering.
a. True
b. False
ANSWER: False
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.3.1 – LO: 11.3.1

6. The Bureau of Justice Statistics (BJS) estimated that more than 7 million people were victims of identity theft in 2014.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.4.1 – LO: 11.4.1

7. Spam is a slang term for something that is fraudulent or a swindle.
a. True
b. False
ANSWER: False
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.4.2 – LO: 11.4.2

8. A code of ethics is a statement adopted by a company to guide employees to act appropriately.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.2.1 – LO: 11.2.1

9. Most banks do not allow employees to accept gifts or money to influence their performance of duties.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.2.1 – LO: 11.2.1

10. Ethics should be the ultimate factor in making decisions in the financial world.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.2.1 – LO: 11.2.1

11. A straw buyer works “undercover” for a bank to help banks identify cases of illegal house flipping.
a. True
b. False
ANSWER: False
POINTS: 1
LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 11.3.2 – LO: 11.3.2