Q8:

Jeremy ironsmith stores his valuable collection of gems and jewelry in a box in the secure vault of his local bank. the bank is providing the service of

a.

Currency exchange

b.

Discounting commercial notes

c.

Offering savings deposits

d.

Safekeeping of valuables

Q9:

What is the definition of a bank that congress finally came up with in the 1980s?

a.

It is any institution that accepts deposits subject to withdrawal upon demand

b.

It is any institution that qualifies for FDIC deposit insurance

c.

It is any institution that makes loans of a commercial nature

d.

It is any institution that offers credit card services