Special Report on FDIC Insurance

2. All of my deposits in Individual Retirement Accounts at the bank are added together and insured up to $100,000. It doesn't matter how many IRAs I own or how many beneficiaries I name. True or False?

3. I have three separate joint accounts at the same bank—one for $100,000 with my spouse, another for $100,000 with my sister, and a third for $100,000 with my brother. Because I own each account with a different person, each account is insured for $100,000. True or False?

4. I have a $125,000 bank account but, to bring the funds under the FDIC insurance limit, I withdraw $75,000 in the form of a cashier's check. But before I deposit the cashier's check elsewhere, the bank fails. Because I received a cashier's check, which is the equivalent of cash, I have my $75,000 safely in hand and I've successfully reduced my account balance below the FDIC insurance limit. True or False?

5. I invest $95,000 in a bank CD sold by one brokerage firm and another $95,000 in another CD offered by a different brokerage firm. As it turns out, each broker independently places my money at the same bank... and that bank fails. Even though I used different brokers to buy the CDs, the funds are added together and insured to $100,000, leaving $90,000 uninsured. True or False?

6. If I have uninsured deposits but I can prove that I intended for that money to be within the insurance limit, the FDIC has the option to cover those deposits. True or False?