Question 2

0 / 2 points

Which of the following is false about the Federal Reserve System?

Question options:

	There are 12 Federal Reserve Banks
	The most most important Federal Reserve Bank is based in New York
	As a sign of its independence and strength, the Federal Reserve System is imbedded in our US Constitution and cannot be abolished.
	The current Fed (our central bank) is the third attempt at a central bank; the first two attempts were based in Philadelphia.
	The Federal Reserve System was created in 1913

Question 4

0 / 1 point

The best forms of money and the best payment systems are characterized by terms like trust, belief, stability.

Question options:

	True
	False

Question 6

0 / 2 points

If a bank fails and the FDIC must orchestrate the protection of insured depositors, which of the following is not one of the main available sources of funds"

Question options:

	US Treasury
	additional currency issued by the Federal Reserve
	assessments for funds from other banks
	Deposit Insurance Fund

Question 7

0 / 2 points

Who is Lael Brainard

Question options:

	Federal Reserve Chair
	Senator from Massachusetts
	Head of OCC
	Chairwoman of Wells Fargo
	Head of FDIC
	Fed Governor, an appointee of President Obama

Question 9

0 / 2 points

The following attributes of the Federal Reserve System contribute to its independence other than:

Question options:

	The FOMC has no politicians or elected officials as members
	The Federal Reserve is self funded and thus does not depend on funding from Congress
	The Chairman of the Board of Governors is elected by a majority vote of the 12 member banks
	Governors serve relatively long 14 year terms.

Question 11

0 / 2 points

Lael Brainard and Richard Clarida are the remaining Federal Reserve Board members that were appointed by President Obama.

Question options:

	True
	False

Question 12

0 / 2 points

Who owns the Federal Reserve Banks?

Question options:

	public shareholders
	The US Treasury Department
	SEC
	the banks in the relevant bank district
	Nobody
	CFPB
	OCC
	The Department of Commerce

Question 14

0 / 2 points

What is the approximate size of the Federal Reserve System balance sheet (measured by assets)?

Question options:

	Negative $1 trillion
	$400 million
	$22 trillion
	$4.0 trillion
	$900 billion

Question 15

0 / 2 points

the current 10-year treasury rate is approximately?

Question options:

	1%
	22%
	1.5-1.75%
	.05%
	14.99%
	2.75%

Question 16

0 / 2 points

Which US state has two Federal Reserve Banks?

Question options:

	Virginia
	New York
	Pennsylvania
	California
	Texas
	Missouri

Question 18

0 / 2 points

Which is not a key function of the Federal Reserve System?

Question options:

	insure deposits
	check clearing
	manage currency in circulation
	wire transfer
	monetary policy
	regulation
	setting the Discount Rate

Question 22

0 / 2 points

What Federal Reserve Bank with the most power/influence is based in?

Question options:

	St Louis
	San Francisco
	Boston
	New York
	Philadelphia
	Chicago
	Washington DC