Are You a Banking Expert?

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Questions and Answers

What is the primary purpose of credit unions?

  • To offer financial advice and counseling
  • To make direct loans to businesses and institutions
  • To encourage thrift among their members and make loans available at a reasonable cost (correct)
  • To underwrite customer-issued securities

What is the primary purpose of credit unions?

  • To provide financial services to businesses
  • To encourage thrift and provide loans to members (correct)
  • To maximize profits for shareholders
  • To offer underwriting services for customer-issued securities

What are the two major services offered by commercial banks?

  • Equipment leases and financial advice
  • Credit life insurance and securities transfer services
  • Transaction (checking) accounts and direct loans (correct)
  • Safekeeping of valuables and credit guarantees

What is the main service offered by commercial banks to the public?

<p>Direct loans to businesses, individuals, and other institutions (C)</p> Signup and view all the answers

What is the principal asset of commercial banks?

<p>Loans made directly to businesses, individuals, and families (A)</p> Signup and view all the answers

What is the principal asset of commercial banks?

<p>Loans made directly to businesses, individuals, and families (C)</p> Signup and view all the answers

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