Asked by HAM?T C?HAN on Jul 04, 2024
Verified
Which of the following services will NOT be offered by insurance companies?
A) taking deposits
B) selling policies with saving features
C) administrating pension funds
D) making payments to beneficiaries
Taking Deposits
The act of receiving funds from customers, under the agreement that the funds will be returned or made available for withdrawal upon the customer's request.
Insurance Companies
Businesses that provide coverage, compensating policyholders for losses in exchange for premiums.
- Discern the responsibilities of diverse financial intermediaries and instruments in the economy.
Verified Answer
TM
Tobias MancisidorJul 07, 2024
Final Answer :
A
Explanation :
Insurance companies are not licensed to take deposits as it is the responsibility of banks and other financial institutions. The other options, such as selling policies with savings features, administrating pension funds, and making payments to beneficiaries, are all services typically offered by insurance companies.
Learning Objectives
- Discern the responsibilities of diverse financial intermediaries and instruments in the economy.
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