My Learning Cart

What is a key characteristic of a cooperative bank?

Practice Questions

Q1
What is a key characteristic of a cooperative bank?
  1. Owned by shareholders
  2. Operates for profit
  3. Owned and operated by members
  4. Regulated by the central bank

Questions & Step-by-Step Solutions

What is a key characteristic of a cooperative bank?
  • Step 1: Understand that a cooperative bank is a type of financial institution.
  • Step 2: Know that it is owned by the people who use its services, called members.
  • Step 3: Realize that the main goal of a cooperative bank is to serve the needs of its members, rather than to make a profit.
No concepts available.
Soulshift Feedback ×

On a scale of 0–10, how likely are you to recommend The Soulshift Academy?

Not likely Very likely