With the Creation of the Federal Deposit Insurance Corporation,member Banks

question 37

Multiple Choice

With the creation of the Federal Deposit Insurance Corporation,member banks of the Federal Reserve System ________ to purchase FDIC insurance for their depositors,while non-member commercial banks ________ to buy deposit insurance.

• A)could choose;were required
• B)could choose;were given the option
• C)were required;could choose
• D)were required;were required

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Definitions:

Legally Recognized Injury

A wrong or damage suffered by an individual which is identified and acknowledged under the law for purposes of compensation or remedy.

Negligent Act

An action or failure to act in a situation where a person has a duty to exercise reasonable care, resulting in harm to another party.

Proportionate Negligence

A legal doctrine that allocates damage recovery based on the degree of fault or negligence contributed by each party involved in an incident.

Liability for Injuries

The legal responsibility to compensate for physical harm or injury caused to another person.