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Reserve Banks have expressed an interest in using non-employee experts or consultants on bank supervision matters for a number of reasons. A Reserve Bank may seek to engage retired examiners to address fluctuating resource demands, for example, in the event of a rapid but temporary need for examiners experienced in loan underwriting and credit review. An external expert may be used to provide supplemental training, for example, to expose examiners to new analytical techniques, or to provide on-the-job training to examiners who have not experienced an economic downturn, problem loans, or problem banks. While it is important to maintain adequate resources and expertise on an ongoing basis, a Reserve Bank may decide in a particular situation that using a consultant is a more cost effective or efficient approach to meeting a specialized skill need. For example, a consultant may be engaged for a one-time assignment that does not justify a full-time expert on staff, particularly if a System expert is not available. Similarly, an external expert with industry-specific knowledge may be retained to evaluate a business activity that is nontraditional to banking, such as brokerage services or insurance. The external experts can provide many kinds of works except auditing.

A. Right
B. Wrong
C. Doesn’t say

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Types of risks So far we have used the term "risk" rather loosely. One type of risk is default risk, that is, the risk that the borrower will simply not repay the loan, due to either dishonesty or plain inability to do so. Another type of risk, called purchasing - power risk, is the risk that, due to an unexpectedly high inflation rate, the future interest payments, and the principal of the loan when finally repaid, will have less purchasing power than the lender anticipated at the time the loan was made. A similar risk is faced by borrowers. A borrower may cheerfully agree to pay, say, 15 percent interest, expecting that a 12 percent inflation rate will reduce the real value of the loan. But inflation may be only 4 percent. Choose the summary that best expresses the main idea of Paragraph 2.A. If you have purchased a fixed interest - rate security, then both the cash - in value and the interest you receive remain constant throughout the life of that security.B. Buying a fixed interest - rate security of a limited term is very risky because any interest rate changes will produce a loss of cash - in value.C. Buying a fixed length security with a fixed interest rate means that the cash - in value of that security will change as interest rates in general change.

A third type of risk is called "interest - rate risk" or "market risk", that is, the risk that the market value of a security will fall because interest rates will rise. We will discuss this further later; here we just present the intuitive idea. Suppose that five years ago you bought a ten-year 1 000 bond carrying a 6 percent interest rate, and tile interest rate now obtainable on similar bonds also have five years to go until they mature is 8 percent. Would anyone pay 1 000 for your bond Surely not, because they could earn 80 per year by buying a new bond, and only 60 per year by buying your bond. Hence, to sell your bond you would have to reduce its price. But suppose the bond, instead of having five years to maturity, would mature in, say, ninety days, what would its price be then It would still be less than 1 000 since the buyer would get 6 percent instead of 8 percent interest for ninety days; but since getting a lower interest sell for only ninety days does not involve much of a loss, the bond would sell for something close to 1 000. Hence, while holding any security with a fixed interest rate involves some interest - rate risk, the closer to maturity a security is, the lower is this risk. On the other hand, if interest rates fall you gain because your bond is worth more; and the longer the time until the bond matures, the greater is your gain. But the fact that you may gain as well as lose does not mean that you are taking no risk.
B. DiversificationAll three types of risks are relevant for deciding what assets to include in a portfolio, and what debts to have outstanding. (The term portfolio means the collection of assets one owns.) Anyone holding more than one type of asset has to consider not the risk of each asset taken by itself, but the totality of the risk on various assets and debts jointly. Suppose someone holds stock in a company that is likely to gain from inflation. The riskiness of a portfolio that combines both of these stocks may be less than the riskiness of each stock taken separately. A port- folio consisting of assets that are affected in opposite directions by given future events is less risky than are the assets that compose it when taken individually. Hence a low-risk portfolio need not contain only assets that individually have little risk; sometimes one reduces the riskiness of a portfolio by adding some high - risk assets that offset the risks of other assets in it.

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must make his instructions to clear in his collection order.

A. The remitting bank; the collecting bank B. The principal; the drawee
B. The principal; the remitting bank
C. D. The drawee; the collecting bank

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Fractional reserve banking is the practice of keeping only a traction of deposits in the form of reserves. Depository institutions (commercial banks, savings and loan associations, mutual savings banks, and credit unions) are able to do this because only a small fraction of their depositors is expected to turn up during any given day or week to withdraw their deposits. The bulk of deposits is invested in financial assets, from which the depository institutions earn most of their income. Those income-earning financial assets range from bills, notes, and bonds issued by private corporations and by the federal, state, and municipal governments to mortgage loans for housing. Each type of financial institution has a different type of portfolio of assets, which reflects their area of special expertise in managing financial assets. To demonstrate how depository institutions create money under the present system of fractional reserve banking, hypothetical example of a commercial bank, Southwest National Bank, will be used. It is assumed that federal regulations require Southwest National Bank to hold a percentage of its deposits in the form of cash reserves. This is the reserve requirement. The reserves may be held in the form of currency and coin on the premises, a form of reserves called vault cash, or they may be held in a deposit at a regional Federal Reserve Bank. Assume that the Southwest National Bank management, taking into account the reserve requirement and the projected amount of withdrawals arid deposits, decides to keep 20 percent of its deposits in rescues. What is the main source of income of the depository institutions

A. Different types of portfolio.
Bills, notes and bonds.
C. Deposits invested in financial assets.
D. Large amount of assets.

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______ may make wage demands based on the accounting information that shows their employer’s reported income.

A. Creditors
B. Control expenses C. Labor union
C. B ＆ C above

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A. Right B. Wrong C. Doesn’t say

______ must make his instructions to ______ clear in his collection order.

______ may make wage demands based on the accounting information that shows their employer’s reported income.

A. Right
B. Wrong
C. Doesn’t say

must make his instructions to clear in his collection order.