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Federal Reserve System Quiz

Authored by Susan Lowe

Social Studies

9th Grade

Federal Reserve System Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the primary reason for the creation of the Federal Reserve System?

To unify the monetary interests of the United States

To create more banks

To increase taxes

To reduce government spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What act led to the creation of the Federal Reserve System?

The Federal Reserve Act of 1913

The Banking Act of 1933

The Monetary Control Act of 1980

The Financial Services Act of 1999

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many districts does the Federal Reserve System divide the country into?

12

10

15

8

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who appoints the members of the Board of Governors of the Federal Reserve System?

The President

The Senate

The House of Representatives

The Supreme Court

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary tool used by the Federal Open Markets Committee (FOMC) to control the money supply and credit conditions?

Open Market Operations

Interest Rate Adjustments

Tax Policies

Government Spending

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

"The Fed" refers to the....

Federal Bureau of Investigation

Federal Government

Federal Reserve System/Bank

Federal Income Tax

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The discount rate is the interest rate the Fed charges on loans to:

consumers.
the federal government.
state governments.
banks.

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