A bank that wires funds for the purchase of a beach house in South Carolina for a customer in Oklahoma is carrying out the __________ of banks.
A)intermediation role
B)payment role
C)guarantor role
D)agency role
E)policy role

Question

Quizplus · Accepted Answer

The bank is carrying out the payment role by wiring funds for the purchase. The intermediation role involves collecting deposits and lending those funds out as loans or investments, the guarantor role involves providing guarantees for customers or transactions, the agency role involves acting as an agent for customers to carry out certain transactions or activities, and the policy role involves implementing and enforcing government policies and regulations.

A Bank That Wires Funds for the Purchase of a Beach