Which of the following is NOT a financial intermediary?
A)NASDAQ
B)Allstate Insurance Company
C)Bank of America
D)Vanguard Total Stock Market Index Fund

Question

Quizplus · Accepted Answer

A financial intermediary is an institution or organization that facilitates the flow of funds between borrowers and lenders. They serve as a bridge between two parties who want to exchange money. 
B) Allstate Insurance Company is a financial intermediary as it provides insurance policies and collects premiums from its clients. 
C) Bank of America is a financial intermediary as it accepts deposits from customers and lends that money to borrowers. 
D) Vanguard Total Stock Market Index Fund is a financial intermediary as it collects money from investors and invests that money in a diversified portfolio of stocks. 
NASDAQ, on the other hand, is a stock exchange where securities are bought and sold. It does not collect funds from investors or lend money to borrowers, so it is not a financial intermediary.

Which of the Following Is NOT a Financial Intermediary