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WAEC Economics 2012 Question 29

Question 29

Financial Institutions

The financial institution that specializes in risk spreading is called

  1. A.an investment bank.
  2. B.a development bank.
  3. C.an insurance company.
  4. D.the stock exchange.
Show the answer and explanation

Answer: C (an insurance company.)

Explanation

Insurance pools premiums from many people to share the losses of a few.