FDIC Technical Evaluation Exam
Questions and Answers
FDI Act Sec. 1 - Answers -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
-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
Chairperson and Vice Chairperson may continued to serve after expiration of term.
Restrictions-
No member of the Board can hold office, position, or employment in any insured
depository institution or HC the time the member is in office, and 2 years after caching
position. May not hold stock either in banks during term.
Part 303 - Answers -Filing Procedures
Part 304 - Answers -Forms, instructions, and reports
, Part 307 - Answers -Certification of Assumption of Deposits and Notification of Changes
of insured status
Part 308 - Answers -Rules of Practice and Procedures
Part 309 - Answers -Disclosure of Information
Part 310 - Answers -Privacy Act Regulations
Part 311 - Answers -Rules Governing Public Observation of Meetings of the
Corporation's Board of Directors
Part 313 - Answers -Procedures of Corporate Debt Resolution
Part 323 - Answers -Appraisals
Part 324 - Answers -Capital Adequacy of FDIC-Supervised Institutions
Part 325 - Answers -Annual Stress Test
Part 326 - Answers -Minimum Security Devices and Procedures and Bank Secrecy Act
Compliance
Part 327 - Answers -Assessments
Part 328 - Answers -Advertisement of Membership
Part 329 - Answers -Liquidity Risk Measurement Standards
Part 330 - Answers -Deposit Insurance Coverage
Part 332 - Answers -Privacy of Consumer Financial Information
Part 333 - Answers -Extension of Corporate Powers
Part 334 - Answers -Fair Credit Reporting
Part 335 - Answers -Securities of Nonmember Insured Banks
Part 336 - Answers -FDIC Employees
Part 337 - Answers -Unsafe and Unsound Banking Practices
Part 338 - Answers -Fair Housing
Part 339 - Answers -Loans in Areas Having Flood Hazards
Questions and Answers
FDI Act Sec. 1 - Answers -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
-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
Chairperson and Vice Chairperson may continued to serve after expiration of term.
Restrictions-
No member of the Board can hold office, position, or employment in any insured
depository institution or HC the time the member is in office, and 2 years after caching
position. May not hold stock either in banks during term.
Part 303 - Answers -Filing Procedures
Part 304 - Answers -Forms, instructions, and reports
, Part 307 - Answers -Certification of Assumption of Deposits and Notification of Changes
of insured status
Part 308 - Answers -Rules of Practice and Procedures
Part 309 - Answers -Disclosure of Information
Part 310 - Answers -Privacy Act Regulations
Part 311 - Answers -Rules Governing Public Observation of Meetings of the
Corporation's Board of Directors
Part 313 - Answers -Procedures of Corporate Debt Resolution
Part 323 - Answers -Appraisals
Part 324 - Answers -Capital Adequacy of FDIC-Supervised Institutions
Part 325 - Answers -Annual Stress Test
Part 326 - Answers -Minimum Security Devices and Procedures and Bank Secrecy Act
Compliance
Part 327 - Answers -Assessments
Part 328 - Answers -Advertisement of Membership
Part 329 - Answers -Liquidity Risk Measurement Standards
Part 330 - Answers -Deposit Insurance Coverage
Part 332 - Answers -Privacy of Consumer Financial Information
Part 333 - Answers -Extension of Corporate Powers
Part 334 - Answers -Fair Credit Reporting
Part 335 - Answers -Securities of Nonmember Insured Banks
Part 336 - Answers -FDIC Employees
Part 337 - Answers -Unsafe and Unsound Banking Practices
Part 338 - Answers -Fair Housing
Part 339 - Answers -Loans in Areas Having Flood Hazards