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Hi, I'm currently studying for the Money & Banking Test (DSST). The answer key indicates that the FDIC insures deposits up to $100,000. I know for a fact--as indicated on the FDIC website--that the insurance limit is $250,000. (Not counting separate categories within the same institution ((such as IRA accts)) that a depositor may have.)
Does anyone know if I should answer 100K or 250K on the actual test? Can someone please let DSST know that FDIC insurance was permanently increased after Dodd/Frank passage...thanks!
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I can't really answer your question, but I know that DSSTs and CLEPs are only updated every once in awhile. Some of the tests still use outdated terms and information.
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One can hope that the $250K is not a selectable option.
[SIZE="1"][SIZE="4"]Pixal00p[/SIZE]
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Excelsior College - BS in Business, General Business - May 2012
Cal State Fullerton - MS in Software Engineering - Application submitted.
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I just took this test a couple weeks ago and I didn't have this problem so while on the one hand I can't answer your question, on the other hand you probably don't need to worry about it.
Kyle
TESC Liberal Studies BA - 2011
New Charter University MPA - 2012
Georgetown University School of Law - 2016
BA in Liberal Studies -
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Galations 6:9 - "Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up."
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