Which of the Following Statement About Building Societies in Australia

question 65

Multiple Choice

Which of the following statement about building societies in Australia is incorrect?

• A) The main activities of building societies are to take in deposits and provide mortgage finance.
• B) The largest building societies have tended to convert to regional banks in recent times.
• C) Now currently the building society sector holds 2 per cent of the total assets of the Australian financial system.
• D) Building societies are authorised deposit-taking institutions and supervised by APRA.

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Definitions:

Introversion

A personality trait characterized by a focus on internal feelings rather than external sources of stimulation, often resulting in the preference for solitary or small-group activities.

Kurt Lewin

A German-American psychologist known for developing several key theories in social and applied psychology, including the theory of change, action research, and group dynamics.

Practical

Denotes something that is oriented towards action or utility, often emphasizing effectiveness and convenience in real-life situations.

Good Theory

A well-substantiated explanation of some aspect of the natural world that is acquired through the scientific method and repeatedly tested and confirmed through observation and experimentation.