QUESTION 5

The U.S. Treasury controls the monetary base and the Federal Reserve controls the quantity of M1.

1. True
2. False

QUESTION 12

Base your answers on the following document, FORM 10-Q, For the quarterly period ended March 31, 2020, DIME COMMUNITY BANCSHARES, INC.

https://www.sec.gov/Archives/edgar/data/1005409/000114036120011124/form10q.htm#CHANGESINSTOCKHOLDERSEQUI

The Net Charge-Offs for the three months ended March 31^st, 20202 were between 3 and 3.5 times larger than the 3-month period ending March 31^st2019.

1. True
2. False

QUESTION 13

Base your answers on the following document, FORM 10-Q, For the quarterly period ended March 31, 2020, DIME COMMUNITY BANCSHARES, INC.

https://www.sec.gov/Archives/edgar/data/1005409/000114036120011124/form10q.htm#CHANGESINSTOCKHOLDERSEQUI

1. According to the management of Dime Community Bancshares the reduction in the federal funds rate in response to the COVID-19 crisis will make the bank more profitable as the cost of funds declines.

1. True
2. False

QUESTION 14

Base your answers on the following document, FORM 10-Q, For the quarterly period ended March 31, 2020, DIME COMMUNITY BANCSHARES, INC.

https://www.sec.gov/Archives/edgar/data/1005409/000114036120011124/form10q.htm#CHANGESINSTOCKHOLDERSEQUI

The fee income of Dime Community Bancshares is likely going to increase because the CARES program entitles the bank to fee of 100 basis points per $1,000,000 of PPP loans made.

1. True
2. False

QUESTION 15

Base your answers on the following document, FORM 10-Q, For the quarterly period ended March 31, 2020, DIME COMMUNITY BANCSHARES, INC.

https://www.sec.gov/Archives/edgar/data/1005409/000114036120011124/form10q.htm#CHANGESINSTOCKHOLDERSEQUI

The operating expenses of Dime Community Bancshares will decline due to the COVID-19 crisis since the bank closed its branches to protect its employees.

1. True
2. False