7. If you picked
"False" you are correct. Insurance coverage generally is based on how
accounts are owned. In this case, the two accounts you have in your name alone would be
added together and insured to $100,000 in total, leaving $50,000 uninsured. Your share of
any joint accounts at a bank is insured to $100,000 in total (and separately from your
individual accounts). Here, the joint account you own with your mother would be insured
for up to $200,000 ($100,000 for each person's share), so this account is fully protected.