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FDIC Technical Evaluation Exam Study Guide Solutions

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FDIC Technical Evaluation Exam Study Guide Solutions FDI Act Sec. 1 - ANSWER-Federal Deposit Insurance Corporation is established to insure, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this Act. (b) Asset disposition (1) establishmen...

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  • November 26, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • FDIC
  • FDIC
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EmillyCharlotte
FDIC Technical Evaluation Exam
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FDI Act Sec. 1 - ANSWER✔✔-Federal Deposit Insurance Corporation is

established to insure, the deposits of all banks and savings associations

which are entitled to the benefits of insurance under this Act.




(b) Asset disposition (1) establishment, (2) administrator is appointed by

the Board of Directors (3) responsibilities are to carry out the

responsibilities of the corporation under this Act relating to liquidation of

insured depository institutions and the disposition of assets of such

institutions.




Sec 2


Board of Directors consisting of 5 members-


-1 of whom shall be the Comptroller of the Currency

Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 1/9

, -1 of whom shall be the Director of the CFPB, and


-3 of whom shall be appointed by the president, by and with the advice

and content of the senate, from among individuals who are citizens of the

US, 1 of whom shall have state bank supervisory experience.


After 2/28/1993, not more than 3 of the members of the board may be

members of the same political party.




Chairperson- Designated by president, with advice of senate for a term of 5

years


VChairperson- Same, no term


Acting Chairperson- in event of vacancy in the position of chairperson of

the BOD during absence or disability of the Chairperson, the VChairperson

shall act as chairperson.




Terms


appointed members serve for term of 6 years



Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 2/9

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