SIE (Securities Industry Essentials) Practice Exam

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How much would Cassie and her husband be insured for if their bank were to fail?

$430,000
$500,000
$620,000
$800,000

The correct answer is: $430,000

Cassie and her husband would be insured for $430,000 if their bank were to fail. This is because the Federal Deposit Insurance Corporation (FDIC) insures up to $250,000 per depositor in a failed bank. This means that if Cassie and her husband have a joint account, they would be insured for up to $500,000 (or $250,000 each). Option B, C, and D are all higher than the maximum insurance amount provided by the FDIC. Therefore, they are incorrect.