Technological Advances and the Ability to Access a Nationwide Market

question 56

Multiple Choice

Technological advances and the ability to access a nationwide market from one location allowed the growth of Industrial Loan Corporations (ILCs) during the 1990s and illustrate competitive risks of other FIs.Which of the following is true of ILCs?

• A)They can only operate within the state where they are established.
• B)They are regulated by the Federal Reserve.
• C)The deposits of ILCs are insured by the FDIC.
• D)ILCs are subsidiaries of traditional commercial banks.
• E)Oversight of ILCs is provided by the Office of the Comptroller of the Currency.

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Definitions:

Anesthesia

A medical procedure involving the administration of agents that result in a state of temporary loss of sensation or awareness.

Axillary Nerve

A nerve in the shoulder that innervates the deltoid and teres minor muscles as well as provides sensation to the skin.

Deltoid

A large triangular muscle covering the shoulder joint and responsible for lifting the arm and giving the shoulder its range of motion.

Teres Minor

A small muscle of the rotator cuff that assists in rotating the arm laterally and stabilizes the shoulder joint.