An Institution That Is Owned by Its Depositors Is Called

question 43

Multiple Choice

An institution that is owned by its depositors is called a:

• A)community bank.
• B)commercial bank.
• C)credit union.
• D)finance company.

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Definitions:

Troy Ounce

A Troy ounce is a unit of imperial measure used primarily in the precious metals industry, equating to approximately 31.1035 grams.

July Futures Contract

A standard legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in July.

Silver

A precious metal with the symbol Ag, used in jewelry, currency, and industrial applications for its conductivity and reflective properties.

Call Option

A financial contract that gives the buyer the right, but not the obligation, to buy an asset at a specified price within a certain period of time.