Finance
Which federal agency insures deposits in banks and savings institutions up to $250,000?
AFederal Reserve
BFDIC (Federal Deposit Insurance Corporation)✓ Correct
CFannie Mae
DHUD
Explanation
The FDIC (Federal Deposit Insurance Corporation) insures deposits in member banks and savings institutions up to $250,000 per depositor, per institution.
Related Maine Finance Questions
- A Maine homeowner 'refinances' their mortgage. This means they:
- A Maine commercial lender requires a debt coverage ratio (DCR) of at least 1.25. A property has an annual NOI of $75,000. The maximum annual debt service the lender will approve is:
- A Maine seller agrees to take back a purchase money mortgage. This means:
- A Maine lender's 'debt-to-income ratio' (DTI) requirement limits the borrower's total monthly debt payments to what percentage of gross monthly income for most conventional loans?
- The 'amortization' of a Maine mortgage means:
- Maine Housing's First Home loan program is designed for:
- A Maine bank offers a home equity line of credit (HELOC). This is best described as:
- A Maine borrower applies for a $300,000 mortgage. The lender requires a debt-to-income ratio of no more than 43%. If the borrower's monthly gross income is $7,000, the maximum total monthly debt is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →