Multiple Choice
The Edmond Wine and Cheese shop wants to buy 30 cases of French Champagne on credit.Bank of America writes a letter of credit stating that the Edmond Wine and Cheese shop is a good risk and that if they do not pay off the loan,Bank of America will.Which of the following roles is the bank performing?
A) The intermediation role
B) The payments role
C) The risk management role
D) The guarantor role
E) The policy role
Correct Answer:
Verified
Correct Answer:
Verified
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