You have two savings accounts at an FDIC insured bank. You have $225,000 in one account and $40,000 in the other. If the bank fails, you will receive:
A) $225,000.
B) $40,000.
C) $115,000.
D) $250,000.

Question

Quizplus · Accepted Answer

The FDIC insures up to $250,000 per depositor, per account ownership category. Since both savings accounts are owned by the same depositor, the total insured amount is $250,000. Therefore, if the bank fails, the depositor will receive up to $250,000 in total, combining the balances in both accounts.

You Have Two Savings Accounts at an FDIC Insured Bank