Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Select the correct term for each of the following descriptions. Descriptions Terms This institution offers two major types of contracts: a relatively short-term contract that
Select the correct term for each of the following descriptions. Descriptions Terms This institution offers two major types of contracts: a relatively short-term contract that provides protection for a temporary period of time, and a long-term contract that provides lifetime protection This form of financial intermediary is usually administered by the trust departments of commercial banks or by life insurance companies This institution was originally created to collect the small deposits of individual savers and to make long-term home loans back to these customers. This institution has always been considered to be the "department store of finance" due to the wide range of products and services offered. By virtue of investing the saved funds of its investors into a large number of different securities, it is able to realize both economies of scale and risk diversification for its investors. This institution is organized as a not-for-profit business enterprise that exhibits a mutual ownership structure Select the correct term for each of the following descriptions. Descriptions Terms This institution offers two major types of contracts: a relatively short-term contract that provides protection for a temporary period of time, and a long-term contract that provides lifetime protection This form of financial intermediary is usually administered by the trust departments of commercial banks or by life insurance companies This institution was originally created to collect the small deposits of individual savers and to make long-term home loans back to these customers. This institution has always been considered to be the "department store of finance" due to the wide range of products and services offered. By virtue of investing the saved funds of its investors into a large number of different securities, it is able to realize both economies of scale and risk diversification for its investors. This institution is organized as a not-for-profit business enterprise that exhibits a mutual ownership structure
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started