Canadian Securities Course (CSC) Level 1 Practice Exam

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What coverage does the CDIC have?

Insures eligible deposits of up to $75,000 per depositor
Insures eligible deposits of up to $100,000 per depositor
Insures eligible deposits of up to $150,000 per depositor
Insures eligible deposits of up to $200,000 per depositor

The correct answer is: Insures eligible deposits of up to $100,000 per depositor

The correct answer is B. The Canada Deposit Insurance Corporation (CDIC) provides insurance coverage for eligible deposits of up to $100,000 per depositor. This means that if a financial institution that is a CDIC member were to fail, each individual depositor would be insured for up to $100,000 of their deposits. This protection helps to ensure the safety and security of depositors' funds in the event of a bank failure. Options A, C, and D are incorrect because they provide coverage amounts that exceed the $100,000 limit that the CDIC offers per depositor. It's important for investors to be aware of the coverage limits provided by the CDIC to make informed decisions about how to protect their deposits.