1. Briefly describe the three key services that the financial system provides to savers.
2. A student remarks: When I pay my insurance premiums, I never get that money back. My insurance premiums represent payments for a service I receive from the insurance company. When I deposit money in the bank, I can always withdraw the money later if I want to. So, my bank deposit represents a financial investment for me. Therefore, a bank is a financial intermediary, but an insurance company is not. Briefly explain whether you agree with the student's argument.