2. * 1 point
Since Taylor was a young child she has kept her savings in a piggy bank. She likes this method of saving
because she can have immediate access to the money if she needs it. Recently, in a class at school,
discussion focused on why depository institutions are safer than her piggy bank. Some students'
comments were based on fact while others were based on myths. Which aspect of security at a
depository institution is NOT TRUE?
a. Depository institutions have insurance protection for up to $250,000 per depositor per account
type. 1 If something happened to the money in the bank, you would get the value of your account
back as long as the deposited amount was no more than the insurance limit.
b. All money stored at a depository institution is kept safe at all times by numerous security
measures.
c. Information about depositors and their accounts is kept in secure data storage.
d. Depository institutions have insurance protection. Depositors can have multiple accounts insured
at the same depository institution as long as each account has no more than $100,000.
a