The Insurance Coverage Provided by the FDIC for a Savings

question 2

Multiple Choice

The insurance coverage provided by the FDIC for a savings account is ________ per depositor until January 1,2014.

• A) $50,000
• B) $100,000
• C) $150,000
• D) $250,000
• E) $500,000

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Definitions:

Discharged From Liability

The release of a debtor from the obligation to repay a debt, usually following a legal process such as bankruptcy proceedings.

Dishonor

Failure to fulfill an obligation, especially the non-payment of a check or negotiable instrument when it is presented for payment.

Warranties

Legally binding promises made by a manufacturer or seller that a product or service meets certain quality and reliability standards or that certain repair or replacement conditions will be met.

Unaccepted Draft

A written order to pay a specified amount that has not been agreed to or signed by the party expected to pay.