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Economics of Money, Banking & Financial Markets, 5e (Mishkin)
Chapter 12 Nonbank Finance
12.1 Insurance
Which of the following is a nonbank financial institution?
A) A life insurance company
B) A credit union
C) A savings and loan association
D) A mutual fund
Answer: A
Diff: 1 Type: MC Page Ref: 270
Skill: Applied
Objective List: 12.1 Identify the important aspects of the insurance industry
Nonbank financial institution include ____.
A) mutual savings banks
B) money market mutual funds
C) commercial banks
D) life insurance companies
Answer: D
Diff: 1 Type: MC Page Ref: 270
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry
Demutualization refers to ____.
A) the conversion of mutual insurance companies from being owned by policy holders to stock
holders
B) the conversion of mutual fund companies from being owned by policy holders to stock
holders
C) the conversion of insurance companies from being owned by stock holders to policy holders
D) the conversion of mutual fund companies from being owned by stock holders to policy
holders
Answer: B
Diff: 2 Type: MC Page Ref: 271
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry