A Bank Has an Average Balance of Transactions Accounts, August

question 105

Multiple Choice

A bank has an average balance of transactions accounts, August 10 to 23, of $824.46 million. The average balance in the cash account is $42.014 million over this period. The bank is carrying forward a deficit of $1.276 million from the last reserve period. The rules require no reserves to be maintained for the first $8.5 million, 3 percent for amounts between $8.5 million and $45.8 million, and 10 percent thereafter.
-What is the reserve to be maintained with fed?

• A)$38.247 million.
• B)$34.419 million.
• C)$36.971 million.
• D)$35.087 million.
• E)$35.695 million.

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Definitions:

NIOSH

The National Institute for Occupational Safety and Health, a federal agency responsible for conducting research and making recommendations for the prevention of work-related injury and illness.

Job Hazard Analysis Technique

A method used to identify risks and potential dangers at work with the aim of implementing safety measures to protect employees.

Hazard Communication Standard

A regulation that ensures the information about chemical hazards and associated protective measures is communicated to workers and employers.