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The Federal Reserve: Who? What? Where? When? Why? How? Flashcards | StudBud
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The Federal Reserve: Who? What? Where? When? Why? How?
The Federal Reserve: Who? What? Where? When? Why? How?
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Questions
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Answers
1
The Federal Reserve is the centralized banking system of the U.S.
True
False
2
BONUS: Which of these is NOT a district bank location?
New York
Arizona
Dallas
Richmond
3
What is the dual mandate of the FOMC?
Establishing laws & educating on financial literacy
Creating banks & financial institutions
Stable inflation & full employment
Political strength & growth
4
What is the Reserve Requirement?
Percentage of deposits that banks are required to keep in reserve
Interest rates banks pay for overnight borrowing from other banks
Messaging focusing on the state of the economy & future monetary policy
The requirement for the term of a member on the Board of Governors
5
Which is NOT a major purpose of the 12 District Banks?
Overruling decisions of the FOMC
Lending to depository institutions
Supervising state member banks
Examining financial institutions
6
What caused the formation of the Fed?
Series of financial panics across the US
Political pressures
The FOMC
The Senate
7
Which of these is used to advise models for stress testing financial institutions?
FAC
CDIAC
CAC
Model Validation Council
8
When was the Federal Reserve formed?
December 18th, 1912
November 3rd, 1965
December 13th, 1913
April 2nd, 1910
9
Who serves as President of the FOMC?
Vice Chair of Supervision
The Community Bank Chair
The Chairman of the Board
The Vice Chairman of the Board
10
How many major functions of the Fed are there?
1
3
7
5
11
Which is a reason for the choice of locations for the District Banks?
Trade & economic power
Popular tourist locations
Political regions of the U.S.
They were built independently
12
The CDIAC aims to inform the Fed on savings and loan institutions?
True
False
13
How long are the loans for the Main Street Lending Program?
10 years
5 years
2 years
1 years
14
Who is NOT a member of the Board of Governors?
Randy Quarles
Dr. Terregrossa
Michelle Bowman
Jerome Powell
15
Which of these is NOT an entity of the Federal Reserve?
The Senate
12 District Banks
Board of Governors
The FOMC
16
Which of these is NOT an advisory committee of the Federal Reserve?
The CAC
The FAC
The CDIAC
The FRCT
17
Who serves a 4 year term on the Board of Governors?
Vice Chairman
Vice Chair of Supervision
Chairman
Both Chairman & Vice Chairman
18
Which of these is NOT a function of the Federal Reserve?
Consumer protection
Regulating financial institutions
Monetary policy
Political decisions
19
How many members are on the Federal Advisory Council (FAC)?
12
22
4
50
20
How many entities of the Federal Reserve are there?
2
4
3
5
21
What is the purpose of the Community Advisory Council (CAC) ?
All of the above
Focus on the concerns of low income communities
Provide different perspectives on economic conditions
Compliments FAC and CDIAC
