The Department of Housing and Urban Development includes all of the following functions except: A. Management of the FHA.
B. Member of the President’s cabinet.
C. Supervision of the FDIC.
Question & Answer
The Department of Housing and Urban Development includes all of the following functions except:
1 Answer
Verified archiveThe correct answer is C. Supervision of the FDIC.
The Department of Housing and Urban Development (HUD) does manage the Federal Housing Administration (FHA) and is a member of the President’s cabinet. However, the Federal Deposit Insurance Corporation (FDIC) is not under the supervision of HUD; it is an independent agency that provides deposit insurance to depositors in U.S. commercial banks and savings institutions.