19 Questions
What is the primary function of depository institutions?
Accepting deposits and providing loans
Which of the following is NOT a depository institution mentioned in the text?
Investment houses
What distinguishes a savings and loan association from a bank?
Providing commercial loans
Which institution is characterized by having the most number of branches nationwide and abroad?
Universal banks
What distinguishes Islamic banks from other types of banks?
They operate based on Islamic principles and do not charge interest
Which financial service is typically NOT offered by credit unions as mentioned in the text?
Underwriting activities
In addition to ordinary banking services, what can a universal bank engage in according to the text?
Operating investment houses
What sets trust companies apart from other depository institutions?
Offering fiduciary services
What is a key characteristic of credit unions mentioned in the text?
Provide financial services to individual members
What distinguishes thrift banks from universal banks?
Limited banking services
Which primary financial service do rural and cooperative banks aim to provide?
Promoting rural economy
What is the key characteristic that sets rural banks apart from cooperative banks?
Privately owned and managed
What is the main goal of Islamic Banks according to the text?
Promote socio-economic development in Muslim Mindanao
What is a primary function of credit unions as mentioned in the text?
Providing financial services to individuals and small businesses
What differentiates credit unions from traditional commercial banks?
Ownership by members
Which financial service is typically offered by credit unions as mentioned in the text?
Mortgage loans
What makes trust companies different from depository institutions?
Legal ownership of assets by the company itself
What is the primary goal of thrift banks according to the text?
Investing in international ventures
What is a key characteristic of cooperative banks as mentioned in the text?
Federated ownership structure
Learn about depository institutions, including banks, savings and loan associations, trust companies, and credit unions. Understand how these institutions accept deposits, extend loans, transfer funds, and manage funds for investment purposes.
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