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16 September, 03:21

An example of a nondepository financial institution is which of the following?

A:Commercial bank

B:Credit union

C:Brokerage firm

D:All of the above

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Answers (2)
  1. 16 September, 03:23
    0
    The answer is C. Brokerage firm. A brokerage firm is an example of a nondepository financial institution. A depository financial institution is a place where you can deposit money. A commerical bank and a credit union are both places where you can deposit money into an account for savings or future use by withdrawing cash or using a card. A brokerage firm is not a depository financial institution and usually used for mortgages and loans.
  2. 16 September, 03:47
    0
    The answer is C - Brokerage Firm
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