Functions of Banks and Federal Reserve

Functions of Banks and Federal Reserve

9th - 12th Grade

6 Qs

quiz-placeholder

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Functions of Banks and Federal Reserve

Functions of Banks and Federal Reserve

Assessment

Quiz

Financial Education

9th - 12th Grade

Practice Problem

Medium

Created by

Elizabeth Johnson

Used 3+ times

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6 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 2 pts

What are the two main functions of banks?

taking deposits

stealing your money

giving out loans

give your money to others

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's role?

keeping banks stable and controlling the money supply

keeping banks stable and giving money to the rich people

Setting tax rates and government spending policies

offering loans to individual citizens and businesses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is fractional reserve banking?

a system where banks only keep a small percentage of customer deposits on hand and loan out the rest

a system where banks only accept large deposits from wealthy customers

a system where banks do not keep any customer deposits on hand

a system where banks keep all customer deposits on hand at all times

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What protects your deposits in a bank up to $250,000?

Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System (FRS)
Consumer Financial Protection Bureau (CFPB)
National Credit Union Administration (NCUA)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's main purpose?

To set tax rates and government spending levels.
To oversee the stock market and corporate mergers.
To manage monetary policy and ensure financial stability.
To regulate international trade agreements.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve also known as?

The Central Bank
The Treasury Department
The Economic Council
The Fed