WAEC Economics 2019 Objective — Question 37
Question 37 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
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Insurance companies are similar to commercial banks in that they
- A. compensate their customers for losses
- B. act as lender of last resort
- C. help in maintaining monetary stability in a nationCorrect
- D. help in mobilizing savings for investment
Explanation
Both insurance companies and commercial banks are financial institutions that help mobilize and channel savings into productive investment, contributing to monetary/financial stability.
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