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GFOA CPFO Exam - Topic 1 Question 110 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 110
Topic #: 1
[All CPFO Questions]

Credit services, Trustee and related services and investment management services are the Secondary services provided by banks.

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Suggested Answer: A

by Benton at Apr 08, 2025, 10:27 AM

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Kristeen
5 months ago
Totally agree, those are definitely secondary services!
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Aja
5 months ago
I thought investment management was a primary service?
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Madonna
6 months ago
Wait, are you sure about that? Seems a bit off.
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Yaeko
6 months ago
Yep, credit and trustee services are secondary for sure!
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Carylon
6 months ago
That's true, banks do offer those secondary services.
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Ernie
6 months ago
I’m leaning towards A being correct, but I vaguely recall something about trustee services being more complex.
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Jonell
7 months ago
I feel like it could depend on the context of the bank's offerings. Maybe "It depends" is the right choice?
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Salena
7 months ago
I remember practicing a question that mentioned primary and secondary services, and I think this statement is true.
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Valene
7 months ago
I think credit services and investment management are definitely secondary services, but I'm not sure about the trustee part.
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Casie
7 months ago
The question seems straightforward, but I want to double-check my understanding. I'm leaning towards True, but I'll make sure to read through the options thoroughly before selecting my answer.
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Sherita
7 months ago
I think the answer might depend on how we define "secondary services." Some of those could be considered core banking services, while others might be more supplementary. I'll have to review my notes to be sure.
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Lamar
8 months ago
Hmm, I'm a bit confused by this one. I'm not sure if all of those services are considered secondary or if some could be considered primary. I'll need to think it through carefully.
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Annice
8 months ago
I'm pretty confident that the answer is True. The question clearly states that credit services, trustee and related services, and investment management services are the secondary services provided by banks.
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Candra
1 year ago
If only the bank's ATM could provide investment management services, that would be the true definition of banking convenience. But alas, B is the correct answer here.
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Lonna
11 months ago
C) It depends
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Lorrine
11 months ago
No, the correct answer is B) False
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Cathrine
11 months ago
A) True
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Nida
1 year ago
D is the way to go. Banks definitely offer both primary and secondary services these days. Gotta keep up with the competition, you know?
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Lyla
1 year ago
Haha, this question is tricky. The bank I work at definitely provides those secondary services. I think A is the correct answer, but I wouldn't be surprised if it's a trick question!
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Charlene
1 year ago
Wait, what? I thought banks did offer those secondary services. Hmm, let me think this through again. C might be the right answer here.
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Lashandra
12 months ago
I agree, it could be both true and depend on the bank.
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Mollie
12 months ago
I'm not sure, maybe it depends on the bank and their specific services.
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Lennie
12 months ago
I think it's true, banks do offer those services as well.
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Gracia
1 year ago
I'm not sure, but I think it could also be D) Both A and C because it might depend on the specific bank.
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Julio
1 year ago
I agree with Nan, banks do provide those services.
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Nan
1 year ago
I think the answer is A) True.
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Timmy
1 year ago
I'm pretty sure the answer is B. Banks only provide primary services like deposits and loans, not secondary services like investment management or trustee services. That's the domain of other financial institutions.
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Tina
12 months ago
True, it really depends on the specific bank and their range of services.
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Jonelle
1 year ago
So the answer could be both A and C, depending on the bank.
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Willow
1 year ago
But some banks do offer secondary services like investment management and trustee services.
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Adell
1 year ago
I think you're right, banks mainly focus on primary services like deposits and loans.
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