The FPE (Federal Pacific Panel) has been under much scroutiny and conflict for its safety hazards. Some home inspectors may not consider them a hazard (??What), but the majority of us who are up to date on issues and care about our clients will tell it like it is on these panels. Over the years there have been many independent studies and tests on these panels, and the results have led to the same conclusions over and over. These panels have the highest failure rate (ranging from 1/5-1/3) of the breakers failing to trip under test conditions. Link below:
http://www.inspectapedia.com/fpe/FPESummary.htm

     There are many articles available to research all the issues with these panels, but the point being, there is no substitute or safe way (in my opinion) to repair these panels. Replacement should be the only option. As a Certified Minnesota Home Inspector, I can not in good conscious tell anyone these panels are acceptable. I have been in arguements with "Investors" (Flippers) over the safety of these panels and I can not see how they sleep at night. View the supplied link or Google FPE electrical panel  and you will get a page full of the concerns. BE safe, BE careful, BE sure to hire a certified Minnesota home inspector who is knowledgable and honest about the condition of the property you are looking to buy. Remember, this does not have to be a deal killer. Everything is negotiable, but knowing what to negotiate is important. 
     If you need an inspection, please feel free to call us @ 612-919-3844 or email sevencounty@yahoo.com.