Federal Reserve Vocab Quiz

Federal Reserve Vocab Quiz

8th Grade

22 Qs

quiz-placeholder

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Federal Reserve Vocab Quiz

Federal Reserve Vocab Quiz

Assessment

Quiz

Business

8th Grade

Hard

Created by

Datrell Morgan

Used 10+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

When was the Federal Reserve established?

1913

1920

1935

1945

2.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Why was the Federal Reserve created?

To regulate the banking system

To control inflation

To provide loans to businesses

To manage the national debt

3.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

What are the main components of the Federal Reserve System?

Board of Governors, Federal Open Market Committee, and 12 regional Federal Reserve Banks

President, Congress, and Supreme Court

House of Representatives, Senate, and Executive Branch

Department of Treasury, Internal Revenue Service, and Federal Deposit Insurance Corporation

4.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

How many members are there in the Board of Governors?

10

7

15

20

5.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Why is regulation important for the financial system?

To ensure stability and protect consumers

To increase profits for financial institutions

To reduce competition in the market

To limit access to financial services

6.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

"The Fed" refers to the....

Federal Bureau of Investigation

Federal Government

Federal Reserve System/Bank

Federal Income Tax

7.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

One primary function of the Federal Reserve system is to

regulate stock market trading

preserve fair competition

keep deflation low and steady

act as a central bank of the United States

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