Canadian Marketplace Flashcards
All banks in Canada operate under the _______ and must function within its regulatory framework.
Bank Act
Currently, voting shares of large Schedule I banks must be widely held, with the control of any single shareholder or group of shareholders restricted to no more than _____%
20%
A single shareholder can own up to ___ % of the voting shares of a medium sized bank. However, the remaining ____% of the voting shares must be publicly traded.`
65%
35%
A medium sized bank has shareholder equity of _____ or more, but less than ______
$2 billion
$12 billion
A small bank, which has shareholder equity of less than ____, can be fully owned by one person or organization.
$2 billion
These banks may engage in all types of business permitted to schedule 1 banks.
Schedule 2 banks
These banks derive most of their revenue from retail banking and electronic financial services.
Schedule 2 Banks
These banks focus on corporate and institutional finance and investment banking.
Schedule 3 Banks
The federal legislation governing Credit Unions is…
The Cooperative Credit Associations Act (CCAA)
The CCAA requires associations to adhere to investment rules based on a….
prudent portfolio approach
The largest aggregate insurance premiums are generated by ________ insurance, followed by _______ insurance and _____ insurance.
Automobile
Property
Liability
________ is the most important aspect of the insurance business in Canada.
Underwriting
__________ refers to the practice of exchanging risk between insurance companies to facilitate better risk management.
Reinsurance
_________ funds typically issue shares only at start-up or at other infrequent periods
Closed-end funds
________ funds continually issue shares to investors and redeem these shares on demand.
Open-end funds (also called mutual funds)
