Question

Financial Institution, such as mutual funds and stock brokerage firms, that don’t provide checking and savings...

Financial Institution, such as mutual funds and stock brokerage firms, that don’t provide checking and savings accounts are known as?

Group of answer choices

Savings and Loans

Non-deposit-Type financial institution

Credit Unions

Deposit - Type Financial Institutions.

Annabelle conducts her banking online and sometimes on her mobile phone. This concept is called?

Group of answer choices

Accounting

Face-to-Face Banking

Book Keeping

Online and Mobile Banking

Mary want to earn interest from her financial institution. She deposits her her payroll via direct deposit. What type of banking account shouldn’t she use to try an gain interest?

Group of answer choices

Demand Deposit Account

Direct Deposit

Deposit - Type Financial Institutions.

Automatic Deposit

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Answer #1

1. Financial institution such as mutual fund who do not accept savings and time deposits are often termed as Non deposit type financial institution as they are not into acceptance of deposits.

Those who are into acceptance of deposit are termed as deposit type financial institution and usually they are banks.

rest of the two options are irrelevant because they are not credit unions or savings and deposit.

Correct answer is option B) Non Deposit type financial institution

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