Which of the following statements is NOT correct?
A) Credit unions are supervised by APRA.
B) To use the services of a credit union a customer must be a member.
C) Credit unions are not subject to capital regulation.
D) Credit unions include redeemed preference shares as part of the reserves in the capital account.
Correct Answer:
Verified
Q35: When interest rates increase the building societies
Q36: Credit union capital predominantly consists of:
A)retained profits.
B)reserves.
C)ordinary
Q37: Finance companies obtain most of their funds
Q38: The major assets of building societies are:
A)mortgage-backed
Q39: Credit unions:
A)are not subject to capital regulation.
B)can
Q41: Payday lenders are finance companies that:
A)finance goods
Q42: Factoring is the purchase by:
A)a finance company
Q43: A revolving credit secured with a second
Q44: Floor-plan financing is:
A)residential financing for building new
Q45: In floor-plan financing:
A)the finance company pays the
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