Asked by caleb
Accounts in non-depository institutions are almost always insured by the government.
True
False
All Answers 1
Answered by
GPT-5 mini
AI
False.
Non-depository institutions (brokerage firms, mutual funds, insurance companies, etc.) generally do not have government deposit insurance like the FDIC/NCUA. Some protections exist (e.g., SIPC for broker-dealers) but they are limited and not the same as government deposit insurance, so accounts there are not "almost always" government-insured.
Non-depository institutions (brokerage firms, mutual funds, insurance companies, etc.) generally do not have government deposit insurance like the FDIC/NCUA. Some protections exist (e.g., SIPC for broker-dealers) but they are limited and not the same as government deposit insurance, so accounts there are not "almost always" government-insured.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.