Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the main difference between accounts insured by the FDIC and the SIPC? Question 17 options: a) whereas FDIC accounts are insured for at

What is the main difference between accounts insured by the FDIC and the SIPC?

Question 17 options:

a)

whereas FDIC accounts are insured for at least $250,000, SIPC accounts are only insured for $50,000

b)

SIPC accounts are only for bank deposits, whereas FDIC accounts are only for brokerage and mutual fund accounts

c)

FDIC insured accounts protects both principal and interest, whereas SIPC accounts only insures your assets are properly held in the custody of a firm, but not the value.

d)

SIPC is an older version of FDIC insurance that is rarely used today.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions