Reserve Banks act as a bank for the U.S. government by performing all but one of the following operations

A. processing Treasury's payments.

B. assisting with Treasury's cash management.

C. minting U.S. coins.

D. selling government securities.

The correct answer is C

Which is not an entity of the Federal Reserve System?

A. Reserve Banks

B. Board of Governors

C. Federal Open Market Committee

D. Senate Finance Committee

The correct answer is D

How many members of the FOMC can vote at any one meeting?

A. 7

B. 9

C. 12

D. 19

The correct answer is C

How many districts make up the Federal Reserve System?

A. 3

B. 12

C. 25

D. 52

The correct answer is B

Which of these activities is not carried out by the Reserve Banks?

A. clearing checks

B. supervise commercial banks

C. printing U.S. dollars

D. research regional, national and international economic issues

The correct answer is C

The members of the Board of Directors of each of the regional Banks

A. are elected to their positions by citizens of their districts.

B. select the president of the banks on which they serve as directors.

C. must be lawyers.

D. are selected by the mayors of the cities which house Federal Reserve Banks.

The correct answer is B

Reserve Banks

A. are located mostly in the West.

B. carry out the Fed's policies at a regional level.

C. elect the Board of Governors.

D. sell stocks to the public.

The correct answer is B

The head of the formal organization of the Federal Reserve System is the:

A. Board of Governors

B. United States Congress

C. Secretary of the Treasury

D. Internal Revenue Service

The correct answer is A

The Federal Open Market Committee

A. meets in Washington D.C. to make monetary policy decisions.

B. is headed by the Secretary of the Treasury.

C. is headed by the Director of the U.S. Mint.

D. prints U.S. currency.

The correct answer is A