The Primary Purpose of Both the FDIC and the Savings

question 49

Multiple Choice

The primary purpose of both the FDIC and the Savings Association Insurance Fund (SAIF) is to

• A)Increase depositor confidence in the banking system.
• B)Control the nation's money supply.
• C)Set reserve requirements for the banking system.
• D)Provide funds for home mortgages.

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Definitions:

Payroll

The total amount of wages and salaries paid by a business to its employees.

Bank Deposits

Funds that are placed into a bank account, including both cash and non-cash transactions.

Adding Machine

A mechanical or electronic device used for calculating sums of numbers.

Managing Office Supplies

The process of ordering, stocking, and overseeing the distribution of products and equipment required for the operation of an office.