Federal Reserve Bank Quiz
10 Questions
| Total Attempts: 380
This quiz will test to see how much you know about our Federal Reserve Bank and how important it is to the United States.
Questions and Answers
- 1.How many District Banks are there?
- A.
10
- B.
11
- C.
12
- D.
13
- 2.What happens in the economy when interest rates rise?
- 3.What happens in the economy when interest rates drop?
- 4.What economic variables do the FOMC (Federal Open Market Committee) affect?
- 5.What are two roles of the Federal Reserve Bank?
- 6.What is the full term of a Federal Bank Board member?
- A.
13
- B.
12
- C.
11
- D.
14
- 7.How are the Chairman and Vice Chairman appointed?
- A.
Appointed by the Senate; approved by the President
- B.
Appointed by the House of Representatives; approved by the Vice President
- C.
Appointed by the President; approved by the Senate
- D.
Appointed by the Vice President; approved by the House of Representatives
- 8.Which District Bank does California belong to?
- A.
San Francisco
- B.
Boston
- C.
Cleveland
- D.
Kansas City
- 9.Which of these is NOT a location of a District Bank?
- A.
Philadelphia
- B.
New Orleans
- C.
Dallas
- D.
Atlanta
- 10.When and why was the Federal Reserve Bank established?
- A.
1914; World War 1
- B.
1898; The Spanish- American War
- C.
1913; The Panic of 1907
- D.
1930; The Great Depression
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