Depository Institutions Quiz
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Questions and Answers

Which type of depository institution accepts deposits from the public and offers checking, savings, loans, and financial advice to individual consumers?

  • Credit unions
  • Central banks
  • Savings institutions
  • Commercial banks (correct)
  • Which type of depository institution is the bankers' bank and oversees the other banks in the United States?

  • Credit unions
  • Savings institutions
  • Central banks (correct)
  • Commercial banks
  • Which type of depository institution is created, owned, and operated by its members?

  • Savings institutions
  • Credit unions (correct)
  • Central banks
  • Commercial banks
  • Which of the following statements is true about credit unions?

    <p>Credit unions are owned and operated by members.</p> Signup and view all the answers

    What is the primary purpose of the FDIC?

    <p>To prevent a 'run on the bank'.</p> Signup and view all the answers

    Which depository institution is the largest and for-profit?

    <p>Commercial banks</p> Signup and view all the answers

    What types of accounts are covered by deposit insurance?

    <p>Checking and savings accounts</p> Signup and view all the answers

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