Canadian Securities Course (CSC) Level 2 Practice Exam

Which of the following industries would be found in the Financials GIC sector?

1. Retailing

2. Insurance

3. Media

4. Tobacco

The correct answer is: Insurance

The financial services sector encompasses a variety of sub-industries, including banking, investment services, and insurance. Insurance companies are integral members of the Financials sector as they provide crucial financial products and services. They manage risk for individuals and organizations, offering products such as life insurance, health insurance, property insurance, and liability coverage. In contrast, the other industries mentioned—retailing, media, and tobacco—do not fall under the Financials sector. Retailing focuses on the sale of goods directly to consumers, media involves the dissemination of news and entertainment, and tobacco pertains to the manufacturing and distribution of tobacco products. These sectors operate independently of the financial industry, which is specifically dedicated to activities related to managing money, including lending, investing, and insuring.