Canadian Securities Course (CSC) Level 1 Practice Exam

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What does the Canadian Deposit Insurance Corporation (CDIC) do?

  1. Provide deposit insurance for financial institutions

  2. Regulate the telecom industry

  3. Offer loans to individuals

  4. Oversee retail shopping centers

The correct answer is: Provide deposit insurance for financial institutions

The Canadian Deposit Insurance Corporation (CDIC) provides deposit insurance for financial institutions. This means that CDIC protects eligible deposits made with member institutions, such as banks and trust companies, in case the institution fails. CDIC coverage helps instill confidence in the banking system and ensures that depositors are protected up to certain limits in the event of a financial institution failure. The other options (B, C, and D) are incorrect as they do not accurately reflect the role of the CDIC.

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