In Which of the Following Financial Assets in Financial Intermediaries

question 25

Multiple Choice

In which of the following financial assets in financial intermediaries did U.S. households have the most invested in 2006?

• A)Bank deposits
• B)Mutual fund shares
• C)Life insurance reserves
• D)Pension fund reserves

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Definitions:

Support

Assistance or help provided by an individual or system to address a need or solve a problem.

Dependency Exemption

A tax exemption for a taxpayer who supports another generally based on kinship, amount of support, and income levels (Note: Under tax law changes, this may not apply for certain tax years).

Qualifying Relative's Support

Expenses that contribute to more than half of a qualifying relative's total support for the year, impacting eligibility for certain tax benefits.

Dependency Exemption

A tax deduction allowed for a taxpayer to claim for those who depend on the taxpayer's financial support, such as children or relatives, reducing taxable income.