Beneficial Finance, The General Motors Acceptance Corporation, and Household Finance Corporation are all examples of which type of FI?

Question

Quizplus · Accepted Answer

Beneficial Finance, The General Motors Acceptance Corporation, and Household Finance Corporation are all examples of finance companies which specialize in providing loans and credit to consumers and businesses. They do not accept deposits from customers like depository institutions, nor do they directly invest in securities like investment companies. They also do not offer insurance or pension products like contractual institutions. Therefore, the best choice is B) finance.

Beneficial Finance, the General Motors Acceptance Corporation, and Household Finance