9. All of the following are depository institutions except

a. Commercial banks

b. Credit unions

c. Finance companies

d. Savings institutions

10. Which of the following is not a capital market instrument?

a. Treasury bond

b. Common stock

c. Commercial paper

d. Preferred stock

12. A write-down of assets by a commercial bank results in

a. Fewer liabilities

b. Greater net worth

c. A loss of net worth

d. None of the above

13. Clearinghouses are used

a. In conducting the business of ECNs

b. By specialist systems in executing trades

c. In the process of making payments using transaction deposits where more than one bank is involved

d. In routing orders to over-the-counter markets

14. The payment system connecting commercial banks requires which of the following to be able to make a payment between customers using different banks?

a. An ECN

b. A clearinghouse, including an ACH

c. An OTC

d. All of the above

15. A federal safety net is extended to commercial banks because

a. They hold a lot of the retail publics assets

b. They pose systemic risk to the financial system and the economy

c. They play a pivotal role in the payment system

d. All of the above