Savings/Credit Quizzes-What amount of protection is provided

Answer to Quiz

What amount of protection is provided by federal deposit insurance?

Answer: (b), $100,000
Deposit accounts at federally insured institutions are protected by federal deposit insurance. The government protects the money up to a limit of $100,000.

Next Quiz:

Which of the following is correct with respect to bank savings accounts:

(a) Bank savings account are not taxable
(b) Banks savings account are not generally insured by the FDIC
(c) Banks savings accounts traditionally provide a lower interest rate compared to long term certificates of deposit
(d) You must be at least 21 to have a bank savings account

Word of the Day

Acquirer

A firm or company that is acquiring a company. . Also see "Merger", "M&A...

Acquirer

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