ASK Assesment Quiz Study Guide

What federal legislation allows for the consolidation of commercial and investment banks, insurance companies, and securities firms?

• Community Reinvestment Act

• Sarbanes-Oxley Act of 2002

• Gramm-Leach-Bliley Act

• Glass-Stegall Act

Which of the following quality management approaches is often used in the finance industry to sustain  regulatory compliance

• Six Stigma

• Crisis management

• Just-in-Time

• Nothing

Answer explanation

They have benefits like increase revenue and can help aspiring or current managers take their careers to the next level

Which of the following mutual funds is most likely to be tax inefficient:

• A fund with a low portfolio turnover rate

• A fund that concentrates on a specialized sector

• A fund with a high portfolio turnover rate

• A fund that attempts to match a broad market index

In general, a governance, risk, and compliance (GRC) software system identifies and measures risk,  monitors the risk-management system, routinely checks adherence to company-wide policies, and  ensures compliance with

• union demands

• reporting

• reporting requirements

• demands

Before a financial planner can recommend an appropriate financial product to a client, s/he must

• determine the needs of the clients

• look at their goals

• give advice

• nothing, just jump straight into recommendations

What customer relationship management analytic would be most suitable for sorting clients based on  how likely they are to repurchase a particular product?

• monitoring

• Customer segmentation

• Profitability analysis

• Account personalization

 Finance companies raise capital by issuing notes and bonds

• True

• False

Bank of America Corporation owns most or all of the shares of thousands of different companies. Some  of these companies are in the finance industry, but others are not. Bank of America Corporation is an  example of a

• financial holding company

• fully integrated financial provider

• universal bank

• cooperative bank

Thad is investing in a money market, which buys and sells products such as

• shares of stocks

• technology

• agricultural goods

• treasury bills

Stock market returns are a(n) __________ economic indicator.