Asked by Abigail Small on May 03, 2024
Verified
LisTop Group is a bank that primarily does business with consumers. It can be said that LisTop Group is a _____.
A) trade center bank
B) federal bank
C) money center bank
D) conventional bank
Conventional Bank
A financial institution that provides a range of traditional banking services, including accepting deposits and making loans, operating within a regulatory framework.
Consumers
Individuals or groups who purchase goods and services for personal use and not for manufacture or resale.
- Understand the principles of traditional banking institutions and their distinction from money center banks in terms of their main clientele.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
D
Explanation :
LisTop Group, which primarily does business with consumers, fits the description of a conventional bank. Conventional banks offer a wide range of banking services to the general public, including savings accounts, loans, and other financial products tailored to individual consumers.
Learning Objectives
- Understand the principles of traditional banking institutions and their distinction from money center banks in terms of their main clientele.