What are the nondeposit companies called that make short-term loans at
QUESTION
What are the nondeposit companies called that make short-term loans at higher interest rates to individuals or businesses that don’t meet the credit requirements of regular banks?
A) insurance companies
B) pension funds
C) finance companies
D) brokerage firms
E) money market firms
ANSWER
Answer: C
Explanation: C) Finance companies are nondeposit companies that make short-term loans at higher interest rates to individuals or businesses that don’t meet the credit requirements of regular banks
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