ECONOMICS
FINANCIAL MARKETS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Financial Institutions
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Insurance Companies
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Financial Institutions and Insurance Companies
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Industry
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Detailed explanation-1: -These are insurance companies, investment dealers, and banks.
Detailed explanation-2: -The supply side of financial inclusion is characterized by four different categories of financial products and similarly, the demand side is characterized by five different sources of borrowing.
Detailed explanation-3: -The major categories of financial institutions are central banks, retail and commercial banks, internet banks, credit unions, savings and loan (S&L) associations, investment banks and companies, brokerage firms, insurance companies, and mortgage companies.
Detailed explanation-4: -Insurance turn accumulated capital into productive investments. Insurance also enables mitigation of losses, financial stability and promotes trade and commerce activities those results into sustainable economic growth and development. Thus, insurance plays a crucial role in the sustainable growth of an economy.
Detailed explanation-5: -Commercial Banks (Banking) Investment Banks (Wealth management) Insurance Companies (Insurance) Brokerage Firms (Advisory) Planning Firms (Wealth management, Advisory) CPA Firms (Wealth management, Advisory)