Here's why:

* Fe represents the element iron.

* I represents the element iodine.

* The subscript 3 indicates that there are three iodine atoms for every one iron atom.

* Since iron can have multiple oxidation states, we need to specify which one is present. In this case, the Roman numeral (III) indicates that iron has a +3 charge.

Therefore, the full name is Iron(III) iodide.