The Financial Reform Act of 2010 Did All of the Following

question 36

Multiple Choice

The Financial Reform Act of 2010 did all of the following except:

• A) strengthened the standards required to obtain a mortgage.
• B) required more disclosures by financial institutions regarding the quality of the underlying assets when they sell mortgage-backed securities.
• C) required savings institutions to sell off any holdings of junk bonds and prohibited them from investing in junk bonds in the future.
• D) established the Consumer Financial Protection Bureau.

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Definitions:

Raw Ingredients

Basic materials used in the production process, especially in food manufacturing or processing industries.

Time-Driven Activity-Based Costing

A cost accounting method that assigns costs based on the time resources are consumed by activities.

Customer Support Department

A division within a company responsible for assisting customers with any queries, problems, or complaints regarding the company's products or services.

Customer Cost Analysis

The process of analyzing the costs involved in serving a customer, including acquisition, service, and support costs, to determine profitability.