ECONOMICS
SAVING AND INVESTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The Federal Depository Insurance Corporation
|
|
|
The Federal Trade Commission
|
|
|
The Federal Reserve
|
|
|
None of the above
|
Detailed explanation-1: -About the FDIC The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
Detailed explanation-2: -Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank-it’s how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category.
Detailed explanation-3: -The Federal Deposit Insurance Corporation has served as an integral part of the nation’s financial system for 50 years. Established by the Banking Act of 1933 at the depth of the most severe banking crisis in the nation’s history, its immediate contribution was the restoration of public confidence in banks.