Which of the following statements about the Federal Deposit Insurance Corporation (FDIC) is true?
A) All member banks in the Federal Reserve must be insured by the FDIC.
B) Each bank insured by the FDIC pays a fixed percentage of the bank's domestic deposit as its premium.
C) The FDIC reviews the financial records and management practices of banks it insures at least once a year.
D) The ceiling on the size account insured by the FDIC is $250,000.
E) All of the above statements about the FDIC are true.
Correct Answer:
Verified
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