CHAPTER 5 FIN 340 UPDATED ACTUAL
Exam Questions and CORRECT Answers
Private Insurance - CORRECT ANSWER - Insurance provided by non-governmental
entities.
Commercial Banks - CORRECT ANSWER - Financial institutions offering deposits and
loans.
Savings and Loan Institutions - CORRECT ANSWER - Organizations that accept savings
and provide loans.
Credit Unions - CORRECT ANSWER - Member-owned financial cooperatives providing
savings and loans.
Life and Health Insurers - CORRECT ANSWER - Companies selling life, health
insurance, and annuities.
Property and Casualty Insurers - CORRECT ANSWER - Insurers covering property loss
and liability risks.
Mutual Funds - CORRECT ANSWER - Investment programs funded by shareholders.
Consolidations - CORRECT ANSWER - Decline in firms due to mergers and acquisitions.
Convergence - CORRECT ANSWER - Financial institutions diversifying product
offerings.
Stock Insurer - CORRECT ANSWER - Corporation owned by stockholders aiming for
profit.
Exam Questions and CORRECT Answers
Private Insurance - CORRECT ANSWER - Insurance provided by non-governmental
entities.
Commercial Banks - CORRECT ANSWER - Financial institutions offering deposits and
loans.
Savings and Loan Institutions - CORRECT ANSWER - Organizations that accept savings
and provide loans.
Credit Unions - CORRECT ANSWER - Member-owned financial cooperatives providing
savings and loans.
Life and Health Insurers - CORRECT ANSWER - Companies selling life, health
insurance, and annuities.
Property and Casualty Insurers - CORRECT ANSWER - Insurers covering property loss
and liability risks.
Mutual Funds - CORRECT ANSWER - Investment programs funded by shareholders.
Consolidations - CORRECT ANSWER - Decline in firms due to mergers and acquisitions.
Convergence - CORRECT ANSWER - Financial institutions diversifying product
offerings.
Stock Insurer - CORRECT ANSWER - Corporation owned by stockholders aiming for
profit.
