1.a. Specialised Financial institutions are mostly specialised in providing loan to various customers in some specific area whereas non banking Financial institutions are providing loans for various consumer purposes

Example of specialised financial institution will be EXIM bank whereas non banking financial institution will be IndiaBull housing finance.

B. Bonds will be paying higher interest rates than debenture and Bond will be backed by assets whereas debenture will not be backed by any assets.

C. Treasury bills are issued by United States central bank & they are risk free as commercial papers are generally issued by corporate houses and they are not of risk free nature like treasury bills & will also provide lower interest rate.

D. Common stock will be providing ownership right whereas preferred stock is a hybrid security and common stock will be having the residual claim on the Asset whereas preference shareholders will be having preferential claim on assets.

E. Marketable securities will be having a higher liquidity and non marketable securities will not be having a higher liquidity and generally marketable security will be current asset and non marketable securities will be non current assets.

marketable securities example will be all such short term liquid securities whereas non marketable securities will be security having physical existence.

2. Role of each different types of financial markets are as follows-

A. Equity markets will generally be used for trading of securities and they will be providing listing of shares and they will attract foreign investment and fair prices

B. Commodity market will be reflecting the prices of commodities in the markets and they will be giving a detail about various food grains and precious metals.

C. money market will be mostly providing with short term debt instruments trading and arrangement of debt for shorter period of time.