Credit may be used for any purpose and is available only to depository institutions that meet specific requirements for financial soundness.
A) Primary
B) Secondary
C) Tertiary
D) None of the above

Question

Quizplus · Accepted Answer

The description suggests that the credit being referred to is primary credit, which is available only to financially sound depository institutions and can be used for any purpose. Secondary credit is typically reserved for institutions experiencing temporary liquidity problems, while tertiary credit is meant for institutions with severe financial difficulties. However, the description doesn't provide any indication that the credit is off a particular type (such as seasonal, extended, etc.), so the answer cannot be D.

Credit May Be Used for Any Purpose and Is Available