The Federal Reserve System | The Fed Explained

The Federal Reserve is made up of _____ parts.

• 1

• 2

• 3

• 4

One goal of the Federal Reserve is:

• Helping banks acquire emergency loans for their best customers.

• Helping banks acquire emergency cash reserves.

The Federal Reserve Act was passed in what year?

• 1913

• 1923

• 1953

• 1973

The Board of Governors has ___ members that are appointed by the president and approved by the senate.

• 5

• 7

• 12

Mark all of the following that the Board of Govenors does as part of the job description.

• study economic trends and make forecast

• oversee the reserve banks

• participate in the Federal Open Market Committtee

The FOMC is responsible for making _________ policy.

• fiscal

• monetary

Everyone that attends an FOMC meeting can vote on the agenda.

• True

• False

There are ____ districts in the Federal Reserve.

• 5

• 8

• 10

• 12

Mark all of the following that are responsibilities of the Federal Reserve bank in each of the 12 districts.

• financial services

• supervise commercial banks

• monetary policy

Reserve banks are also the banks for the 

• federal government

• congress