Question

Which of the following items is not a major component of Social Security?

A. Federal Deposit Insurance Corporation (FDIC)
B. Grants to States for Medical Assistance Programs (Medicaid) C. Old-Age, Survivors, Disability, and Hospital Insurance (OASDHI) D. State Children's Health Insurance Program (CHIP)

Answer 1

A. Federal Deposit Insurance Corporation (FDIC)

The FDIC isn't a major component of Social security, unlike the other programs. This independent U.S. government corporation doesn't provide benefits for those who are unemployed, retired or disabled, instead, it ensures bank deposits in eligible banks against loss in case that a bank fails, and it also supervises and regulates certain banking practices, and performs several actions to protect the consumer.

Answer 2

The correct answer for the question that is being presented above is this one: "A. Federal Deposit Insurance Corporation (FDIC)." The item that is not a major component of Social Security is the Federal Deposit Insurance Corporation (FDIC). FDIC preserves and promotes public confidence in the U.S. financial system by insuring deposits.