Back2Basics: All Things FDIC: Insurance & Signage

Which of the following is NOT an ownership category for FDIC deposit insurance?

A. Business/Organization Accounts

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B. Pass-Through Accounts

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C. Mortgage Servicing Accounts

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D. Government Accounts

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For purposes of FDIC signage requirements, a safe deposit box is considered:

A. A deposit product

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B. A nondeposit product

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C. Neither a deposit nor a nondeposit product

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D. A hybrid product

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Which of the following would NOT be required to include the FDIC Advertising Statement?

A. A 20-second video advertisement playing on YouTube

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B. A poster hung in the window of a branch but visible from the outside of the building

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C. An advertisement that includes only the name of the bank but does not name any specific products

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D. The advertising statement would not be required on any of these

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For which of the following may banks provide an approved translation without also providing an English-language version of the same?

A. The FDIC Official Sign

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B. The FDIC Digital Sign

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C. The FDIC Advertising Statement

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D. Nondeposit disclosures

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The requirements for which the compliance date has not already passed are:

A. The FDIC Official Sign requirements

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B. The FDIC Digital Sign requirements

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C. The FDIC Advertising Statement requirements

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D. Nondeposit disclosure requirements

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FDIC insurance will adjust immediately (providing no grace period for the customer to restructure the deposit) after:

A. The death of a beneficiary

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B. The death of a grantor

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C. The account is acquired by another institution

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D. All of the above

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E. None of the above

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An official custodian for a public unit (government) account:

A. Must be elected or appointed to serve the public unit

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B. Must have plenary authority over the funds on deposit

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C. May obtain FDIC insurance coverage on up to $750,000 in deposits

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D. All of the above

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E. None of the above

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In order for funds to be eligible for pass-through insurance:

A. The bank must maintain the records of the true ownership interests

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B. The bank must complete CIP on the true owners

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C. The bank’s account records must indicate the nature of the account, as by titling (Custodian, FBO, UTMA, etc.)

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D. The bank must keep on file the underlying agreements giving rise to the custodial or fiduciary relationship

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Which of the following is eligible for FDIC insurance?

A. Cashier’s Checks

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B. Annuities

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C. Payment Stablecoins

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D. U.S. Treasury Bills

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Accounts that do not meet the requirements for pass-through insurance will most often:

A. Not be eligible for FDIC insurance

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B. Be handled as unclaimed funds

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C. Be handled as a single account belonging to the named account holder

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D. Be forfeited to the FDIC

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