Laila has a $150,000 3-year, term deposit and a $75,000 1-year, GIC sitting in an account at Lincoln Trust & Saving Company. This financial institution is a member institution of the Canada Deposit Insurance Corporation (CDIC). If Lincoln Trust becomes insolvent, what maximum coverage under CDIC rules is Laila entitled to? Options: 1. $225,000. 2. $75,000. 3. $175,000. 4. $100,000.

Answer rating: 100% (QA)

In Canada the Canada Deposit Insurance Corporation CDIC i... View the full answer