_____composed of banking institutions and nonbank financial intermediaries, including commercial banks, specialized government banks, thrift and rural banks, offshore banking units, building and loan associations, investment and brokerage houses.

_____consists of institutional units and markets that interact, typically in a complex manner, for the purpose of mobilizing funds for investment, and providing facilities, including payment systems, for the financing of commercial activity.

The banking and finance sector performs a critical function in the Philippine economy as it is primarily responsible for the mobilization of domestic savings and the conversion of these funds into directly productive investments.

• True

• False

The following are examples of Informal lenders except:

• Loan sharks

• Relatives

• Friends

• Cooperative

The following are examples of Formal lenders except:

• Cooperative

• Securities and exchange commission

• Bangko Sentral ng Pilipinas

• Landlords

The following are components of Financial Institutions except:

• Financial Institutions

• Financial Assets

• Financial markets

• Financial resources

Reduces risk is one of the roles of financial system.

• True

• False

Assist in capital formation is one of the roles of financial system.

• True

• False

Improves standard of living is one of the roles of financial system.

• True

• False

capital formation is one of the functions of financial system.

• True

• False