CFA Practice Question

There are 341 practice questions for this study session.

CFA Practice Question

Banks are required by law to keep on hand. to back up deposits, a minimum reserve of their checking deposits. This reserve is known as ______.
A. excess reserves
B. required reserves
C. borrowed reserves
Explanation: Excess reserves are actual reserves that exceed the legal requirement.

User Contributed Comments 0

You need to log in first to add your comment.