A(n)____ Is a Depository Institution That Is Owned by Its

question 94

Multiple Choice

A(n) ____ is a depository institution that is owned by its depositors,who are members of a common organization or association,such as an occupation,a religious group,or a community.

• A) pension fund
• B) commercial bank
• C) credit union
• D) insurance company
• E) mutual fund

---

Definitions:

Required Rate of Return

The lowest annual yield necessary to draw individuals or firms towards investing in a specific venture or financial proposition.

Cumulative Voting

A voting system that allows shareholders to allocate all their votes to one candidate or distribute them among several candidates when electing directors.

Voting Shares

Shares that give the shareholder the right to vote on matters of corporate policy and the election of the board of directors.

Board of Directors

A group of individuals elected by shareholders to oversee the management and make strategic decisions for a corporation.