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Financial Institutions and Banks Quiz

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Questions and Answers

What is the main source of funds for businesses?

Investment banks

Banks (correct)

Finance companies

Financial institutions

Which financial institution primarily deals with the business sector and not with individuals?

Superannuation funds

Finance companies (correct)

Banks

Life insurance companies

Who supervises banks in Australia?

RBA (correct)

APRA

Superannuation funds

Life insurance companies

Which non-bank financial intermediaries provide a lump sum payment in the event of death?

Life insurance companies Signup and view all the answers

What type of loans do finance companies mainly specialize in providing?

Lease financing Signup and view all the answers

What is the purpose of superannuation funds in Australia?

To provide benefits to employees upon retirement Signup and view all the answers

What is a unit trust primarily used for?

Investing in a diversified portfolio Signup and view all the answers

What is the role of the Australian Securities Exchange (ASX)?

A primary stock exchange that operates as a market, clearing house and payments facilitator Signup and view all the answers

What tax rate do private and public companies have to pay?

30% Signup and view all the answers

What is ASIC's role in the context of businesses?

ASIC collects financial information from companies to make it available for the public Signup and view all the answers

How can the government influence business financial management decision making?

Through economics policies such as monetary and fiscal policy Signup and view all the answers

What happens to contributions made to employees' retirement funds?

The money grows over time and is used to fund the rest of their life after retirement Signup and view all the answers