Evan Had Three Accounts as Listed Below

question 106

Multiple Choice

Evan had three accounts as listed below. In 2014, how much was his total insurance coverage by the FDIC?
• Bank A: $150,000
• Bank B: $50,000
• Bank C: $350,000

• A) $150,000
• B) $200,000
• C) $350,000
• D) $450,000
• E) $550,000

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Definitions:

Entitled to Enforce

Having the legal right or standing to compel obedience to a law, rule, or obligation.

Certified

Official recognition or guarantee that an individual, organization, product, or document meets certain predefined standards.

Primarily Liable

Refers to the party who has the main responsibility to fulfill an obligation or debt in a legal agreement.

Secondarily Liable

Refers to the responsibility that falls on a party only after the primarily liable party has failed to fulfill their obligations.