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Financial Services - B.com - B Com PDF Download
Cananyone explain the features of financial services with examples?
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Financial Services may be simply defined as services offered by financial and banking institutions like loan, insurance, etc.
Financial Services are concerned with the design and delivery of financial instruments and advisory services to individuals and businesses within the area of banking and related institutions, personal financial planning, investment, real assets, insurance etc.
It involves provision of a wide variety of fund/asset based and non-fund based/advisory services and includes all kinds of institutions which provide intermediate financial assistance and facilitate financial transactions of both individuals and corporate customers.
Features of Financial Services
- Financial services are Intangible
- Financial services are customer oriented
- The production and delivery of a service are simultaneous functions therefor are inseparable
- They are perishable in nature and cannot be stored
- They are dynamic in nature as a financial service varies with the changing requirements of the customer and the socio-economic environment. – must be dynamic socio economic changes, disposable income
- They are proactive in nature and help to visualize the expectations of the market
- They acts as link between the investor and borrower
- They aid in distribution of risks
FAQs on Financial Services - B.com - B Com
| 1. What are financial services? |  |
Ans. Financial services are activities provided by financial institutions such as banks, insurance companies, investment firms, and other similar institutions. These services include banking services, insurance services, investment services, and other financial transactions.
| 2. What is the significance of a B.Com degree in financial services? | |
Ans. A B.Com degree in financial services provides a strong foundation in the principles of finance, accounting, and economics. It equips individuals with the necessary knowledge and skills to work in various roles within the financial services industry. This degree helps in understanding financial markets, analyzing financial data, managing investments, and making informed financial decisions.
| 3. Can I pursue a career in financial services with a B.Com degree? | |
Ans. Yes, a B.Com degree opens up various career opportunities in the financial services sector. Graduates can work as financial analysts, investment bankers, financial advisors, accountants, auditors, risk analysts, and in other related roles. The degree provides the required knowledge and skills to excel in these positions.
| 4. What are the job prospects in the financial services industry for B.Com graduates? | |
Ans. The financial services industry offers a wide range of job opportunities for B.Com graduates. They can find employment in banks, insurance companies, investment firms, financial consulting firms, and other financial institutions. Job roles include financial analysts, investment bankers, credit analysts, risk managers, financial planners, and more.
| 5. How can I enhance my skills in financial services after completing a B.Com degree? | |
Ans. After completing a B.Com degree, individuals can enhance their skills in financial services by pursuing specialized courses or certifications. They can consider certifications like Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), or pursue a Master's degree in finance or related fields. Additionally, gaining practical experience through internships or entry-level positions in financial services firms can also help in skill development.
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