Which of the following is NOT a common feature of a financial institution?

by

Which of the following is NOT a common feature of a financial institution?
a. Direct deposit
b. Paper Checks
c. Access to investment adviced.
d. Checking and savings accountse.
e. investment trading
f. access to investment products

Answer:

Investment trading is not a common feature of all financial institutions. This service is typically found in brokerage firms rather than traditional banks. Thus, option (e) is correct.

Many financial institutions share common features. Here are features typically found:

    1. Direct deposit: This is a service offered by most banks, allowing customers to receive their paychecks and other income directly into their accounts.
    2. Paper Checks: Many banks still provide paper checks as a payment method, although it’s becoming less common with the rise of electronic payments.
    3. Checking and savings accounts: These are fundamental services provided by almost all financial institutions, enabling customers to save and manage their money.
    4. Access to investment advice: Banks and other financial institutions often have advisors to help customers make informed investment decisions.

The option that stands out as not being a common feature of all financial institutions is investment trading. While some financial institutions, such as brokerage firms, offer investment trading services, not all institutions provide this feature, particularly traditional commercial banks.

More Questions And Answers:

Leave a Comment