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:

Auditory Information

Data or knowledge received and processed through the sense of hearing.

Pons

A structure in the hindbrain that acts as a neural relay center, facilitating the crossover of information between the left side of the body and the right side of the brain and vice versa. It is also involved in balance and in the processing of both visual and auditory information.

Pituitary Gland

A small endocrine gland located at the base of the brain that produces hormones regulating growth, metabolism, and reproductive functions.

Releasing Hormones

Hormones secreted by the hypothalamus that stimulate or inhibit the release of hormones from the anterior pituitary.