Although the National Bank Act of 1863 Was Designed to Eliminate

question 96

Multiple Choice

Although the National Bank Act of 1863 was designed to eliminate state-chartered banks by imposing a prohibitive tax on banknotes,these banks have been able to stay in business by

• A) issuing credit cards.
• B) ignoring the regulations.
• C) acquiring funds through deposits.
• D) branching into other states.

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by dividing the sum of the values by the number of values.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the mean.

Z Score

A statistical measurement that describes a value's relationship to the mean of a group of values, expressed in standard deviations.