Which of the Following Statements Is Incorrect with Respect to the Financial

question 5

Multiple Choice

Which of the following statements is incorrect with respect to the Financial Services Modernization Act of 1999?

• A)It complemented the Glass-Steagall Act.
• B)It enabled commercial banks to more easily pursue securities and insurance activities.
• C)It gave securities firms and insurance companies the right to acquire banks.
• D)The Act requires that commercial banks must have a strong rating in community lending in order to pursue additional expansion in securities and other nonbank activities.
• E)All of the above are true.

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Individuals who operate their own businesses or work for themselves, taking on the associated responsibilities and risks.

Title VII

Part of the Civil Rights Act of 1964, prohibiting employment discrimination based on race, color, religion, sex, or national origin.

Civil Rights Act

A landmark piece of legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin.

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