Canadian Securities Course (CSC) Practice Exam

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What distinguishes Schedule III banks from other types of banks?

  1. Ownership restrictions

  2. Limitations on activities

  3. Domestic focus

  4. Institutional focus

The correct answer is: 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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