Financial Information Associate (FIA) Certificate Practice Test

The answer is correct because commercial and retail banks are specifically designed to cater to both individual and commercial clients. Retail banking services are focused on individual consumers, offering products like savings accounts, personal loans, and mortgages. On the other hand, commercial banking services are tailored for businesses, providing loans, credit solutions, and various financial services required by companies to manage their banking needs.

In contrast, investment banks primarily cater to corporations, government entities, and institutional clients, focusing on services like underwriting, mergers and acquisitions, and capital raising. Online brokerages are platforms that facilitate trading securities and do not typically serve traditional banking needs for individuals or businesses. Pension funds manage retirement savings and investments for specific groups, usually focusing on long-term growth rather than direct banking services for both individuals and businesses. Thus, commercial and retail banks are the best fit for serving both individual consumers and commercial entities.