All Credit Unions Are Nationally Chartered and Regulated by the Office

question 22

True/False

All credit unions are nationally chartered and regulated by the Office of the Superintendent of Financial Institutions.

---

Definitions:

Underwriters

Financial specialists who assess and undertake the risk of another party for a fee, often in the context of issuing insurance policies or investment securities.

Discount

A reduction in the price of goods or services usually to encourage sales or to reward specific groups of customers.

Premium

In finance, a premium refers to the amount by which the price of a financial asset or insurance policy exceeds its intrinsic or face value.

Recorded

The act of entering financial transactions into the accounting records of a company.