Major Types of Financial Institutions Include All of the Following

question 22

Multiple Choice

Major types of financial institutions include all of the following EXCEPT:

• A)commercial banks
• B)pension funds
• C)insurance companies
• D)all of the above are major financial institutions

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Definitions:

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount that remains.

Borrowed

The act of receiving something with the intention to return it, often referring to money in financial contexts.

Matured

Used to describe financial instruments or investments that have reached their due date for payment or realization.

Investment

Allocation of resources, usually money, with the expectation of generating an income or profit.