Title: QUIZ: Creation of the Federal Reserve -- The Federal Reserve and You
Course: Kelly's Copy & Export Course > Section: Creation of the Federal Reserve -- The Federal Reserve and You

Q: Which of the following events helped spur the creation of the Federal Reserve System?
- The Civil War
- Several financial crises
- Discovery of gold and silver in California
- The creation of the Office of Monetary Affairs (OMA)
A: Several financial crises

Q: President Wilson added a public central board to the Federal Reserve System in order to ___________ the influence __________ would have on the central bank.
- limit; bankers
- limit; politicians
- increase; bankers
- increase; politicians
A: limit; bankers

Q: The Federal Reserve System’s structure is both
- central-regional and public-private.
- national-local and industrial-private.
- national-global and public-commercial.
- central-national and consumer-commercial.
A: central-regional and public-private.

Q: Which is a purpose or role of the Federal Reserve?
- An implementer of fiscal policy
- A supervisor of government spending
- A lender of last resort
- A minimal player in the payments system
A: A lender of last resort

Q: According to the Federal Reserve Act of 1913, one of the primary roles of the Federal Reserve is to
- appraise government securities.
- pay government debts.
- conduct fiscal policy.
- supervise banking.
A: supervise banking.

Q: Since its creation, the Federal Reserve has helped the U.S. payments system by
- assisting in the creation and use of credit cards.
- providing a network for clearing checks.
- lending to businesses and individuals.
- printing U.S. currency.
A: providing a network for clearing checks.