Which of the following explains the original purpose of the Federal Deposit Insurance Corporation (FDIC)?

To force poor people to deposit their income tax returns

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To force employers to insure workers against injury

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To insure corporations exploring for mineral deposits

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To insure bank deposits up to $5,000

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To protect banks against securities fraud

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Solution

The correct option is D To insure bank deposits up to $5, 000 T o i n s u r e b a n k d e p o s i t s u p t o$ 5,000.

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Similar questions

Which of the following bank/banks is/are insured by the Deposit Insurance and Credit Guarantee Corporation?

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Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of RBI.

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