Multiple choice

The FDIC a USA based financial sector organisation's name was in news recently. What is the full form of FDIC?

  1. Federal Deposit Insurance Corporation

  2. Financial Deposits and Insurance Company

  3. Federal Deposit and Income Corporation

  4. Financial Development and Instruments Company

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

FDIC stands for Federal Deposit Insurance Corporation, a US government agency created in 1933 to insure bank deposits and maintain stability in the financial system. It insures deposits up to $250,000 per depositor per bank. The FDIC played a crucial role during the 2008 financial crisis in managing bank failures.

Keep practicing — related questions