Describe the role of the financial services industry by addressing the following:

1. Summarize the purpose of the financial services industry as it relates to conducting personal finance activities.
2. Explain the difference between a depository institution and a non-depository institution.
3. Describe the difference between a bank, a credit union, and a brokerage firm, and categorize each as depository or non-depository institution.
4. Describe the purpose of deposit insurance provided by a bank and a credit union. Indicate what the coverage applies and does not apply to and the total dollar amount of coverage provided.