BU111 Final: BUSINESS 111 FINAL REVIEW GUIDE.docx
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BU111 Full Course Notes
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25 multiple choice questions = 1 mark each. 7 short answer questions, 2 to 6 marks each = 20. 5 marks. 8 quantitative problems, 2 to 5. 5 marks each = 42. 5 marks. Four pillars of the canadian financial system: description and roles/functions. The main function of the financial institution is to facilitate the flow of money from sectors with surpluses to those with deficits. This is done by attracting funds into savings and chequing accounts. The four financial pillars has been distinctly divided for quite some time, until 1980, where changes were made to the bank act that made its pillars crumble. Alternate banks: a trust company that safeguards funds and estates entrusted to it. May also serve as a trustee, transfer agent and registrar for corporations and provide other services: credit unions and caisses populaires are cooperative savings and lending associations formed by a group with common interests.
