Which of the Following Identifies the Primary Function of the Office

question 130

Multiple Choice

Which of the following identifies the primary function of the Office of the Comptroller of the Currency?

• A)Manage the deposit insurance fund and carry out bank examinations.
• B)Regulate and examine bank holding companies as well as individual commercial banks.
• C)Charter national banks and approve their merger activity.
• D)Determine permissible activities for state chartered banks.

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Definitions:

Compounded Annually

Interest on an investment calculated once a year, where each year's interest adds to the principal.

GIC

Guaranteed Investment Certificate, a Canadian investment that offers a guaranteed rate of return over a fixed period of time, usually with higher interest rates for longer terms.

Rising Rate

An increasing trend in interest or inflation rates over a certain period.

Maturity Value

The amount to be paid to the holder of a financial instrument at the end of its term, including the principal and any accumulated interest or dividends.