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The Glass-Steagall Act: Definition & Summary

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The FDIC was supported by which group?

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1. What is an investment bank?

2. What are commercial banks?

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About This Quiz & Worksheet

Gauge your understanding of when and why the Glass-Steagall Act was developed with this quiz and worksheet. You will be quizzed on your ability to define terms and explain relevant organizations associated with this legislation.

Quiz & Worksheet Goals

The quiz portion of this assessment contains questions about:

  • Who supported the creation of the FDIC
  • What commercial banks and investment banks are
  • Which event in American history spurred the creation of the Glass-Steagall Act
  • What practice is banned by Regulation Q

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information regarding what led to the development of the Glass-Steagall Act
  • Distinguishing differences - compare and contrast commercial and investment banks
  • Information recall - access the knowledge you've gained regarding the FDIC and Regulation Q

Additional Learning

You can find out more about this legislative action when you view the lesson titled The Glass-Steagall Act: Definition & Summary. By using this lesson, you will gain a deeper understanding of:

  • What banks were engaged in prior to the adoption of the Glass-Steagall Act
  • Who proposed the Glass-Steagall Act
  • What commercial and investment banks do
  • Additional reforms resulting from this act, such as the creation of the FDIC and more extensive regulations of banks
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