Banking Business Quiz

True or false: A bank is a licensed financial institution that accepts deposits from the public and grants loans to those in need of funds?

True or false: Banks may also provide financial services such as wealth management and currency exchange?

True or false: Banking involves accepting deposits and lending funds, but does not include providing any other services?

True or false: The essential features of banking activities include accepting deposits from the public and investing or lending those deposits?

True or false: Incidental to the activities of accepting deposits, banking may also involve providing agency services and general services?