BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a service provided by financial institutions?
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Buying the business of customers
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Investing customers’ savings in stock and bonds
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Paying savers’ interest on deposited funds
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Lending money to customers
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Explanation:
Detailed explanation-1: -Detailed Solution. The correct answer is BCCI. BCCI is not a financial institution.
Detailed explanation-2: -The 4 most common types of financial institutions are commercial banks, brokerage firms, insurance companies, investment banks.
Detailed explanation-3: -The major categories of financial institutions are central banks, retail and commercial banks, internet banks, credit unions, savings and loan associations, investment banks and companies, brokerage firms, insurance companies, and mortgage companies.
There is 1 question to complete.