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Building societies - SS2 Commerce Past Questions and Answers - page 1

1

What is the unique ownership structure of building societies?

 

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A

Owned by shareholders

 

B

Owned by the government

 

C

Owned by members

 

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2

Which of the following is a primary function of building societies?

 

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A

Providing business loans

 

B

Offering credit cards and personal loans

 

C

Facilitating mortgage lending

 

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3

What type of accounts do building societies offer to their members?

 

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A

Checking accounts

 

B

Retirement accounts

 

C

Savings accounts

 

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4

What is the role of financial advice in building societies?

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A

Assisting with tax filing

 

B

Providing guidance on mortgage applications

 

C

Offering legal services for property transactions

 

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5

In addition to financial services, what other aspect do building societies often focus on?

 

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A

Environmental conservation

 

B

Community support

 

C

Assisting with tax filing

 

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6

State one primary function of building societies.

 

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7

What is the ownership structure of building societies?

 

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