FDIC Technical Evaluation Exam Study Guide Solutions

FDIC Technical Evaluation Exam Study Guide Solutions FDI Act Sec. 1 - ANSWER-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 Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 2/9 -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 Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 3/9 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 - ANSWER-Filing Procedures Part 304 - ANSWER-Forms, instructions, and reports Part 307 - ANSWER-Certification of Assumption of Deposits and Notification of Changes of insured status Part 308 - ANSWER-Rules of Practice and Procedures Part 309 - ANSWER-Disclosure of Information Part 310 - ANSWER-Privacy Act Regulations Part 311 - ANSWER-Rules Governing Public Observation of Meetings of the Corporation's Board of Directors Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 4/9 Part 313 - ANSWER-Procedures of Corporate Debt Resolution Part 323 - ANSWER-Appraisals Part 324 - ANSWER-Capital Adequacy of FDIC-Supervised Institutions Part 325 - ANSWER-Annual Stress Test Part 326 - ANSWER-Minimum Security Devices and Procedures and Bank Secrecy Act Compliance Part 327 - ANSWER-Assessments Part 328 - ANSWER-Advertisement of Membership Part 329 - ANSWER-Liquidity Risk Measurement Standards Part 330 - ANSWER-Deposit Insurance Coverage