With the Creation of the Federal Deposit Insurance Corporation

question 15

Multiple Choice

With the creation of the Federal Deposit Insurance Corporation

• A)member banks of the Federal Reserve System were given the option to purchase FDIC insurance for their depositors,while non-member commercial banks were required to buy deposit insurance.
• B)member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors,while non-member commercial banks could choose to buy deposit insurance.
• C)both member and non-member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors.
• D)both member and non-member banks of the Federal Reserve System could choose,but were not required,to purchase FDIC insurance for their depositors.

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Definitions:

Present Right

The current legal ability to exercise a right or claim to property, as opposed to a future or conditional interest.

Property Ownership

The legal right to possess, use, and dispose of real estate or personal property.

Co-ownership Interests

Legal rights and interests held by individuals or entities that own property together, entitling them to use, profit from, or dispose of the property jointly.

Tenancy in Common

A form of co-ownership where each owner possesses a fractional share of the entire property, but there is no right of survivorship.