Which of the following financial intermediaries are depository institutions?
A) A savings and loan association
B) A commercial bank
C) A credit union
D) All of the above
E) Only A and C of the above

Question

Quizplus · Accepted Answer

A depository institution is a financial intermediary that obtains funds primarily by accepting deposits (deposits are held in a deposit account such as a checking or savings account), and lends those funds to borrowers. Savings and loan associations, commercial banks, and credit unions are all examples of depository institutions. Therefore, the correct answer is D, which includes all of the above institutions.

Which of the Following Financial Intermediaries Are Depository Institutions