5 Questions
What are the three major types of financial institution mentioned in the text?
Depository institution, Contractual institution, Investment institution
Name two examples of depository institutions mentioned in the text.
Bank, Credit union
What is the trend some experts see in financial institutions, as mentioned in the text?
Trend toward homogenisation, meaning a tendency to invest in similar areas and have similar business strategies
According to ownership structure, how can financial institutions be broadly distinguished?
Commercial bank, Cooperative bank
What might be a consequence of the trend toward homogenisation of financial institutions?
Fewer banks serving specific target groups
Test your knowledge of financial institutions with this quiz! Learn about the different types of depository institutions, their functions, and the services they provide as intermediaries for financial transactions. Challenge yourself to understand the roles of banks, credit unions, and building societies in managing deposits and making loans.
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