In the United States the SEC provides deposit insurance for $250,000 per person per bank.true or...

In the United States the SEC provides deposit insurance for $250,000 per person per bank.true or false

Solutions

Expert Solution

The answer is False

FDIC insurance includes bank, but not credit unions, deposit accounts.
The FDIC offers consumer education, supervises banks and responds to consumer complaints in addition to insuring deposit accounts.
The standard insurance deposit quantity of the FDIC is typically $250,000 per customer account.
FDIC insurance does not cover annuities or mutual funds or life insurance.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution. Suzanne...

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution. Suzanne has $547,000 in a joint account with her husband, Ted. How much is not covered by FDIC insurance? A. $611,500 B. $48,050 C. $250,000 D. $0 E. $47,000

The Federal Deposit Insurance Corporation is a United States government corporation providing deposit insurance to depositors...

The Federal Deposit Insurance Corporation is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions. The FDIC was created by the 1933 Banking Act, enacted during the Great Depression to restore trust in the American banking system. The FDIC recently conducted a survey and found that 45% of all financial consumers were very satisfied with their primary financial institution. If this figure still holds true today, suppose 28 financial consumers are sampled...

The mean income per person in the United States is $43,500, and the distribution of incomes...

The mean income per person in the United States is $43,500, and the distribution of incomes follows a normal distribution. A random sample of 14 residents of Wilmington, Delaware, had a mean of $50,500 with a standard deviation of $11,400. At the 0.010 level of significance, is that enough evidence to conclude that residents of Wilmington, Delaware, have more income than the national average? State the null hypothesis and the alternate hypothesis. State the decision rule for 0.010 significance level....

The mean income per person in the United States is $45,000, and the distribution of incomes...

The mean income per person in the United States is $45,000, and the distribution of incomes follows a normal distribution. A random sample of 17 residents of Wilmington, Delaware, had a mean of $55,000 with a standard deviation of $8,500. At the 0.100 level of significance, is that enough evidence to conclude that residents of Wilmington, Delaware, have more income than the national average? State the null hypothesis and the alternate hypothesis. State the decision rule for 0.100 significance level....

Question: Temple Insurance Company Temple Insurance Company (TIC) provides automobile insurance throughout the United States. Last...

Question: Temple Insurance Company Temple Insurance Company (TIC) provides automobile insurance throughout the United States. Last year, a new president was hired by TIC's board of directors to improve the company's competitiveness and customer service. After spending months assessing the situation, the new president introduced a strategic plan to strengthen TIC's competitive position. He also replaced three vice presidents. Jim Leon was hired as vice president of Claims (TIC's largest division) with 1500 employees, 50 claims centre managers, and 5...

The annual per capita (average per person) chewing gum consumption in the United States is 200...

The annual per capita (average per person) chewing gum consumption in the United States is 200 pieces. Suppose that the standard deviation of per capita consumption of chewing gum is 145 pieces per year. (a) Find the probability that the average annual chewing gum consumption of 84 randomly selected Americans is more than 220 pieces. (b) Find the probability that the average annual chewing gum consumption of 84 randomly selected Americans is within 100 pieces of the population mean. (c)...

What is the main role of the SEC in the United States? Give an example and...

What is the main role of the SEC in the United States? Give an example and details of one success or failure in its oversight. Include an analysis of the situation. Please respond with a minimum of 100 words, and cite and reference any outside information used in your answer.

The mean number of eggs per person eaten in the United States is 234. Do college...

The mean number of eggs per person eaten in the United States is 234. Do college students eat more eggs than the average American? The 65 college students surveyed averaged 248 eggs per person and their standard deviation was 92.4. What can be concluded at the α = 0.01 level of significance? For this study, we should use The null and alternative hypotheses would be: H 0 : H 1 : The test statistic = (please show your answer to...

Even though deposit insurance existed, the United States experienced a major financial crisis from 2007 to 2009 because:

Even though deposit insurance existed, the United States experienced a major financial crisis from 2007 to 2009 because: banks refused to honor the deposit insurance scheme. the deposit insurance system failed during that time. there was a run on shadow banks, which were not covered by deposit insurance. there was excess competition from other countries.

There are over 5,000 banks in the United States—more than 10 times more per person than...

There are over 5,000 banks in the United States—more than 10 times more per person than in other industrialized countries. A recent study suggests that the long-run average cost curve for an individual bank is relatively flat. If Congress took steps to consolidate banks (merge some of the banks), thereby reducing the total number to 2,500, what would you expect to happen to average costs within the banking industry?

Subjects