Treasury/IRS Is One Bullet

Rule 6 of 11 in this unit1.1.3

1.1.3 Other Regulators and Agencies

SIE outline 1.1.3

Covers tax and, inside the same bullet, FinCEN and OFAC. Neither is a separate outline item. NOT three separate regulators.

The method for this kind of question

Name the agency, then the one number

Now answer

1 question on this screen, from this outline item's own pool, so some will test a rule you met earlier in the unit. Pick an answer, say how sure you are, then reveal. Being sure and wrong is the most useful thing that can happen here, and the coach treats it that way.

Question 1Exam level

Which of these does the FDIC not insure?

A. A checking account. A checking account is a deposit. B. A certificate of deposit (CD). A CD is also a deposit product at the bank, covered the same as a savings account. C. A mutual fund held at the bank's brokerage desk D. A savings account. A savings account is a deposit, covered up to the $250,000 limit.

How sure are you?

Sure Fairly sure Guessing

Correct: C. A mutual fund is a security. The FDIC's own excluded list names mutual funds directly, whether or not they are sold at a bank.

A. A checking account is a deposit. It is exactly what the FDIC insures.

B. A CD is also a deposit product at the bank, covered the same as a savings account.

D. A savings account is a deposit, covered up to the $250,000 limit.

Unit: SIE outline 1.1.3

Next ruleNASAA Represents the State Regulators

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