A balance sheet

1.        A balance sheet is included in a(n) ___________________ for a bank.

A.    income

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statement

B.     provision for loan loss statement

C.     report of condition (call report)

D.    report of income

E.     statement of retained earnings

2.        A construction firm cannot obtain the necessary permits to begin building a shopping mall until it can show it either has or will have the necessary funding to complete the project. The firm may ask a bank for which of the following to allow it to obtain the permits?

I.      Commercial letter of credit

II.     Loan commitment

III.   Credit line

IV.   Repurchase agreement 

A.    I or II

B.     II or III

C.     II or IV

D.    III or IV

E.     I or IV

3.        A bank normally derives its largest source of income from ___________

A.    dividends on stock held.

B.     interest income on loans and leases.

C.     interest income on securities held for investment.

D.    interest income on securities held for sale.

E.     noninterest income.

4.        The definition of “cash in the process of collection” is 

A.    a deposit at another financial institution.

B.     a Fed funds transaction.

C.     checks the bank owes other institutions that have not yet been paid.

D.    checks that the bank is owed but has not yet collected.

E.     equity capital.

5.        A bank’s core deposits are deposits that are 

A.    at the bank solely for the interest rate earned.

B.     typically for larger denominations than hot money sources.

C.     very stable funds sources.

D.    very frequently turned over.

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