Canadian Securities Course (CSC) Practice Exam 2025 – The Comprehensive All-in-One Guide to Exam Success!

Question: 1 / 400

What distinguishes Schedule III banks from other types of banks?

Ownership restrictions

Limitations on activities

Domestic focus

Institutional focus

Schedule III banks are financial institutions that focus on servicing the needs of other financial institutions rather than retail customers or regular businesses. This institutional focus sets them apart from Schedule I and Schedule II banks which primarily serve the general public and businesses, respectively. While ownership restrictions and limitations on activities may also be factors that set Schedule III banks apart, they are not the main distinguishing factor. Domestic focus, on the other hand, is not necessarily a distinguishing feature as many Schedule III banks operate internationally.

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