Weekly Review Quiz as of 2009-11-19
Finance
Fed Curtails Banks' Scope To Charge for Overdrafts
by Damian Paletta And Dan Fitzpatrick
11/13/2009
http://online.wsj.com/article/SB20001424052748703811604574532063720902686.html
1. The Federal Reserve imposed rules Thursday making it harder for banks to hit customers with fees for
* a) overdrawing their accounts
b) cashing a certificate of deposit early
c) direct deposits
d) using a teller rather than an ATM
e) transferring funds overseas
2. How much annual revenue have such fees been generating for banks?
a) between $500,000 and $1,000,000
b) between $100 million and $125 million
* c) between $25 billion and $32 billion
d) between $900 billion and $1 trillion
e) more than $1 trillion
Bankruptcy Rise Slows With Thaw In Lending
by Mike Spector and Kate Haywood
11/16/2009
http://online.wsj.com/article/SB125833287457849697.html
3. According to The Wall Street Journal, corporate bankruptcies have slowed because
a) companies once on the verge of default are now refinancing their balance sheets with new debt
b) companies once on the verge of default are now pushing out maturities on existing loans
c) companies once on the verge of default are now using distressed-debt exchanges to avoid bankruptcy filings
d) the yields on junk bonds have fallen to around 10% as the Federal Reserve has kept interest rates low
* e) all of the above
GM Plans To Repay U.S. Loan
by John D. Stoll
11/16/2009
http://online.wsj.com/article/SB20001424052748704431804574538281493267824.html
4. General Motors plans to begin repaying a $6.7 billion loan it owes the U.S. government starting
* a) late this year
b) in late 2010
c) in 2011
d) in 2012
e) in 2013
GMAC Chief Ousted by Board
by Dan Fitzpatrick and David Enrich
11/17/2009
http://online.wsj.com/article/SB10001424052748704538404574540032497128084.html
5. Which firm that had received tax payer money ousted its CEO, Alvaro de Molina, on Monday, November 16?
a) Chrysler
* b) GMAC Financial Services
c) J.P. Morgan Chase
d) AIG
e) Citigroup