Question

The main purpose of a contractual institution is to:
O A. use deposited money to purchase stocks and bonds in order to
make a profit.
B. provide guaranteed payments to depositors under specific
conditions.
C. allow customers to deposit money into accounts at no charge.
D. hold deposits in accounts and use that money to offer loans.

Answer 1

D hope that helped you weee everything

Answer 2

The main purpose of a contractual institution is to  hold deposits in accounts and use that money to offer loans. Contractual savings institutions, like all financial intermediaries, are identical to commercial banks.

What is contractual institution?

Contractual savings institutions are financial intermediaries that acquire funds on a contractual basis and invest them in such a way that financial instruments mature when contractual obligations are due.

Contractual savings organizations include national provident funds, life insurance companies, private pension funds, and sponsored social pension insurance systems.

Thus, option D is correct.

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