Which of the Following Acts Requires That the Appropriate Federal

question 28

Multiple Choice

Which of the following acts requires that the appropriate federal financial supervisory agencies encourage regulated financial institutions to meet the credit needs of the local areas in which they are chartered, consistent with safe and sound operation?

• A) Home Mortgage Disclosure Act
• B) Fair Housing Act
• C) Equal Credit Opportunity Act
• D) Community Reinvestment Act
• E) Financial Institutions Reform, Recovery and Enforcement Act

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Definitions:

Value Basis

The method or approach used to determine the value of an asset, liability, or transaction.

Joint Costs

Costs incurred during the production of multiple products up until the point where these products become separately identifiable, making allocation necessary for cost accounting purposes.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.

Preon

Fundamental particles proposed as building blocks of quarks and leptons, not yet observed experimentally.