Federal Reserve Bank Quiz

10 Questions | Total Attempts: 354

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Bank Quizzes & Trivia

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