Canadian Securities Course (CSC) Practice Exam

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Which banks are foreign branches of banks with a more institutional focus?

Schedule II banks
Trust company
Schedule III banks
Retail firms

The correct answer is: Schedule III banks

Schedule III banks are foreign branches of banks that cater to more institutional clients, such as government agencies and corporations. These types of banks typically offer services such as financing and investments for these types of clients. Option A, Schedule II banks, are domestic banks that provide a wide range of services, including retail and commercial banking. Option B, Trust company, is a type of financial institution that primarily manages trusts or estates for individuals or businesses. Option D, Retail firms, are companies that sell products or services directly to individual consumers. Overall, options A, B, and D do not fit the criteria of being foreign branches with a more institutional focus, making them incorrect choices.