WAEC Economics 2012 Objective — Question 29
Question 29 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.
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The financial institution that specializes in risk spreading is called a/an
- A. investment bank
- B. development bank
- C. insurance companyCorrect
- D. stock exchange
Explanation
Insurance companies are non-banking financial institutions which collect premiums from people to insure the property or life. They use the money collected for long term investment.
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