Under the purchase-and-assumption method of dealing with a failed bank, the FDIC:
A. takes over the day to day management of the bank.
B. finds another bank to take over the insolvent bank.
C. sells the failed bank to the Federal Reserve.
D. sells off the profitable loans of the failed bank in an open auction.
Answer: B
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a. True b. False Indicate whether the statement is true or false
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Please provide the best answer for the statement.