Which of the following statements is false?

	a.	Credit unions are not taxed and can collectively pool funds.
	b.	The U.S. central credit union and the corporate credit union pool funds and provide investment services to local credit unions.
	c.	Credit unions are better diversified than banks.
	d.	Credit unions are mutual associations and not open to the general public.

Which of the following statements is false?

	a.	A contract that gives the holder the right to sell a security at a preset price only immediately before contract expiration is an American put option.
	b.	An increase in stock price, stock price volatility, and interest rates would increase the price of a call option on common stock, ceteris paribus.
	c.	The higher the exercise price the higher the value of a put and the lower the value of a call.
	d.	A higher level of stock price volatility and exercise price would make a put option on common stock more valuable, ceteris paribus.

Which of the following statements is true?

	a.	Large banks focus on the retail banking whereas small banks focus on the retail and wholesale banking.
	b.	Large banks tend to pay lower salaries and invest less in buildings than small banks.
	c.	Large banks can access the purchased funds and capital markets easier than small banks.
	d.	Large banks tend to have wider interest rate spread than small banks.

Which of the following statements is false?

	a.	The Financial Institutions Reform, Recovery and Enforcement Act created the Office of Thrift Supervision.
	b.	The Financial Services Modernization Act of 1999 allows bank holding companies to open or merge with investment banks.
	c.	The Glass-Steagall Act prohibited affiliations between commercial and investment banking activities with three major securities underwriting exemptions including the issues of municipal revenue bonds.
	d.	The Reigle-Neal Act removes the major restrictions on banks' ability to diversify geographically.