Which of the following is not a characteristic of financial institutions?
A) Their profit is generally made up of bank charges
B) They facilitate the flow of funds from entities with a cash surplus to those with a cash deficit
C) Their profit is generally the difference between the interest rates paid to creditors and that charged to debtors
D) Their assets are primarily cash or claims to cash
Correct Answer:
Verified
Q9: An insurance risk:
A) is a financial risk
B)
Q10: Under the requirements of Australian Accounting Standard
Q11: The date when earning the premium for
Q12: What is the essential purpose of a
Q13: Under AASB 4 'Insurance Contracts' the insurer
Q15: The main expense item for a bank
Q16: Where a bank has approved a loan
Q17: A general insurer invests the cash received
Q18: 'Underwriting' by an insurer involves:
A) assessment of
Q19: 'Reinsurance' occurs when:
A) a person insures property
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