passwella.
Menu

WAEC Economics 2013 Question 3

Question 3

Financial Institutions

Which of the following is not a function of an insurance company?

  1. A.Pooling resources together against risks.
  2. B.Mobilization of funds through premiums collected.
  3. C.Encouragement of investment by security of capital.
  4. D.Collection of deposits from the public for investment.
Show the answer and explanation

Answer: D (Collection of deposits from the public for investment.)

Explanation

Taking deposits from the public is a function of banks, not insurance companies.