7 Questions
Which type of depository institution accepts deposits from the public and offers checking, savings, loans, and financial advice to individual consumers?
Commercial banks
Which type of depository institution is the bankers' bank and oversees the other banks in the United States?
Central banks
Which type of depository institution is created, owned, and operated by its members?
Credit unions
Which of the following statements is true about credit unions?
Credit unions are owned and operated by members.
What is the primary purpose of the FDIC?
To prevent a 'run on the bank'.
Which depository institution is the largest and for-profit?
Commercial banks
What types of accounts are covered by deposit insurance?
Checking and savings accounts
Test your knowledge on depository institutions with this quiz! Learn about the main types of depository institutions, including commercial banks, savings institutions, and credit unions. Explore their role in accepting deposits from the public, providing security and liquidity, and using money to lend to others or invest in securities. Challenge yourself with this quiz and enhance your understanding of the financial world.
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