FDIC Deposit Insurance Regulations

10問 • 3ヶ月前

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1. When maintaining an account involving a fiduciary, what must be done with the evidence of the fiduciary relationship? a. It may be kept by the depositor in his or her records at home or at his or her place of business. b. It must be expressly disclosed in the deposit account records. c. It may be maintained by the depositor or the bank as long as the records are clear. d. It must be forwarded to the FDIC at the time of account opening.

2. Timothy Edwards inherited some money from his father and decided to put the funds in several accounts at First National Bank. Timothy has an individual savings account with a balance of $1,400,000. He and his wife, Sylvia, have a savings account with a balance of $750,000. They also have a joint NOW account with a balance of $280,000. In addition, they have the following trust accounts for their children, John and Suzanne: Timothy, trustee for John (balance $195,000); Timothy, trustee for Suzanne (balance $195,000); Sylvia, trustee for John (balance $120,000); Sylvia, trustee for Suzanne (balance $120,000). What is the total balance in the accounts of this family that is covered by deposit insurance, assuming a SMDIA of $250,000? a. $1,380,000 b. $1,660,000 c. $1,130,000 d. $1,140,000

3. Assume that the following are interest-bearing accounts at First National Bank and the SMDIA is $250,000: Single Accounts Jim $300,000 Balance Fred $350,000 Balance Joint Accounts Jim and Fred $180,000 Balance Fred and Jim $160,000 Balance Susan and Jim $200,000 Balance How much of Jim’s money is covered by deposit insurance? a. $500,000 b. $530,000 c. $570,000 d. $590,000

4. Assume that the following are interest-bearing accounts at First National Bank and the SMDIA is $250,000: Single Accounts Jim $300,000 Balance Fred $350,000 Balance Joint Accounts Jim and Fred $180,000 Balance Fred and Jim $160,000 Balance Susan and Jim $200,000 Balance How much of Fred’s money is covered by deposit insurance? a. $520,000 b. $420,000 c. $350,000 d. $170,000

5. Assume that the following are interest-bearing accounts at First National Bank and the SMDIA is $250,000: Single Accounts Jim $250,000 Balance Fred $350,000 Balance Joint Accounts Jim and Fred $180,000 Balance Fred and Jim $200,000 Balance Susan and Jim $300,000 Balance How much of Jim’s money is covered by deposit insurance? a. $890,000 b. $640,000 c. $570,000 d. $500,000

6. ABC Bank failed with the following accounts for Fred Jones on its books: • A certificate of deposit in the name of Fred Jones with a principal balance of $250,000 and accrued interest of $6,250 • An account for Fred Jones, for which Mr. Jones has now provided documentation showing that he opened the account as a payable-on-death account for his son; the account has a balance of $1.25 million • An IRA for the benefit of Fred Jones with a balance of $250,000 • An account styled “Fred Jones, trustee for Nancy Jones and Roger Wilson” with a balance of $200,000; Nancy is Fred’s daughter, Roger is Fred’s brother If the SMDIA is $250,000, how much of Fred’s money is insured? a. $950,000 b. $750,000 c. $700,000 d. $500,000

7. ABC Bank failed with the following accounts for Natalie Nguyen on its books: • A certificate of deposit in the name of Natalie Nguyen with a principal balance of $225,000 and accrued interest of $5,000 • A savings account in the name of Natalie and her mother Sheila with a balance of $600,000 and accrued interest of $50,000 • An IRA for the benefit of Natalie with a balance of $350,000 • An account styled Natalie Nguyen payable on death to Monica Williams (Natalie’s best friend) with a balance of $200,000 If the SMDIA is $250,000, how much of Natalie’s money is insured? a. $980,000 b. $930,000 c. $750,000 d. $830,000

8. Consider the following deposit balance information: Ann Jones $50,000 Ann Jones $50,000 Jim Smith and Ann Jones $50,000 Jim Smith $75,000 Ann Jones: Agent for Jim Smith $75,000 Ann Jones and Jim Smith $100,000 TOTAL $400,000 How much of the $400,000 is FDIC insured if the SMDIA is $250,000? a. $275,000 b. $325,000 c. $350,000 d. $400,000

9. Consider the following deposit balance information: Ann Jones $150,000 Ann Jones $250,000 Jim Smith and Ann Jones $250,000 Jim Smith $175,000 Ann Jones: Agent for Jim Smith $475,000 Ann Jones and Jim Smith $300,000 TOTAL $1,600,000 How much of the $1,600,000 is FDIC insured if the SMDIA is $250,000? a. $725,000 b. $750,000 c. $1,000,000 d. $1,600,000

10. An insured depository institution (“IDI”) is required to comply with the information technology requirements of 12 CFR Part 370 if during the two consecutive preceding quarters the IDI had: a. One million or more deposit accounts b. Two million or more deposit accounts and at least $10 billion in assets c. Two million or more deposit accounts d. At least $10 billion in assets

Truth in Lending

ユーザ名非公開 · 36問 · 4ヶ月前

Truth in Lending