Which of the following are depository institutions?

Question

Quizplus · Accepted Answer

Credit unions are depository institutions because they accept deposits from their members and use those funds to make loans.

B, C, and D are not depository institutions. Mutual funds are investment companies that pool money from multiple investors to purchase securities, such as stocks and bonds. Pension funds are retirement plans set up by employers and typically invest in a variety of assets, including stocks, bonds, and real estate. Insurance companies sell policies that protect individuals and businesses against financial losses, but they do not accept deposits like depository institutions.

Which of the Following Are Depository Institutions