Question

question 8 of 10
a savings account that is insured by the fdic/ncua means ______.
it has one of the highest interest rates around
the money is protected by the government
the account is invested in government bonds
it can be used only in an emergency

Explanation:

FDIC (Federal Deposit Insurance Corporation) and NCUA (National Credit Union Administration) are government agencies that provide insurance for deposits in banks and credit unions, respectively. Their role is to protect the money of depositors (up to certain limits) in case the financial institution fails. The first option is incorrect as FDIC/NCUA insurance doesn't relate to interest rates being the highest. The third option is wrong because savings accounts insured by FDIC/NCUA aren't necessarily invested in government bonds. The fourth option is incorrect as there's no such restriction on using insured savings accounts only in emergencies. The correct understanding is that the money is protected by the government through these insurance programs.

Answer:

B. the money is protected by the government