Financial Sector (CSEC)

All the firms involved in the provision of financial services.

• Public Sector

• Banking Sector

• Financial Sector

• Informal Sector

The financial sector caters to:

• Retail customers

• Commercial customers

• All of the above

• None of the above

Which of the following is NOT a financial institution ?

• Credit Union

• Central Bank

• Insurance Company

• National Lotteries Control Board

Where persons come together to make regular periodic contributions to a common fund, which is then giving as a lump sum to one member in each cycle.

• Blessing Circle

• Blessing Loom

• Sou Sou

• Loan

Which of the following is NOT another word for Sou Sou?

• Blessing Circle

• Sindicatos

• Meeting Turns

• Box

Which of the following is part of the INFORMAL financial sector?

• Building Society

• Sou Sou

• Credit Union

• Development Bank

Which of the following is TRUE about the INFORMAL financial sector?

• It creates tax revenue

• It has no cost savings

• It forms a type of economic buffering

• It is illegal

The main role of the financial sector is to:

• Allocate funds from savers to borrowers

• Give expert advice

• Keep customers assets safe

• Be intermediaries for customers and businesses

The incentives banks give customers to save.

• Capital

• Dividends

• Profit

• Interest

The cost of borrowing from the banks.

• Capital

• Dividends

• Profit

• Interest