Which problem would be best addressed by a retail bank?A.An entrepreneur needs financing to build a new office for her tech company.B.A person with a poor credit history needs a short-term loan to pay a medical bill.C.A corporation needs help with cash management for its large staff.D.A couple needs to get a mortgage loan to buy a home after moving to a new city.
Question
Which problem would be best addressed by a retail bank?A.An entrepreneur needs financing to build a new office for her tech company.B.A person with a poor credit history needs a short-term loan to pay a medical bill.C.A corporation needs help with cash management for its large staff.D.A couple needs to get a mortgage loan to buy a home after moving to a new city.
Solution
The problem best addressed by a retail bank would be "D. A couple needs to get a mortgage loan to buy a home after moving to a new city." Retail banks offer services such as personal loans, mortgages, and savings accounts, which are all geared towards individual customers or families. The other scenarios involve more complex financial needs that would typically be handled by a commercial bank or a specialized financial institution.
Similar Questions
Which problem would be best addressed by a business bank?A.A person with a poor credit history needs a short-term loan to pay a medical bill.B.A corporation needs help with cash management for its large staff.C.A college graduate needs to open a checking account with the lowest fees available.D.A couple needs to get a mortgage loan to buy a home after moving to a new city.
Among the services that retail banks offer customers are:A.personal checking and savings accounts.B.business investments and payroll loans.C.stock options and investments.D.payday loans and title loans.
A retail bank helps drive economic growth by:A.providing loans and financial services to corporations.B.keeping all deposited funds in reserve at all times.C.requiring all loans to be paid back within a few weeks.D.offering affordable mortgage loans to home buyers
What is one major function of retail banks?A.Providing credit and debit cards to customersB.Managing the payroll of major corporationsC.Offering loans that use car titles as collateralD.Keeping all deposits in reserve at all times
What is a major function of both retail and business banks?A.Reducing the overall money supplyB.Offering financial services without making a profitC.Providing checking and savings accountsD.Regulating payday and title pawn lenders
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