11. One of the reasons fee income has risen for banks in the 21^st century is:

a. Interstate Banking and Branching Efficiency Act

b. Economy of scale

c. Bank Modernization Act

d. Both (a) and (c)

12. The following are the banks operating expenses except:

1. Interest expense on deposits and borrowings
2. Provision for loan and lease losses
3. Dividends paid to shareholders
4. Non-interest expenses