Canadian Securities Course (CSC) Practice Exam

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Study for the Canadian Securities Course Exam with our comprehensive practice test. Explore flashcards and multiple-choice questions, each with detailed hints and explanations. Prepare for your CSC exam with confidence!

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What is the main function of integrated firms in the financial industry?

Portfolio management
Settlements and clearing
Compliance and legal services
Combining retail and institutional aspects

The correct answer is: Combining retail and institutional aspects

The main function of integrated firms in the financial industry is to combine retail and institutional aspects, meaning they handle both retail banking services for individuals and institutional services for larger organizations. Option A is incorrect because portfolio management is just one aspect of these integrated firms. Option B is incorrect because settlements and clearing is just one function of these firms, and not the main one. Option C is incorrect because compliance and legal services may be important for these firms, but it is not the main function that sets them apart.