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

Q: The Federal Reserve System has ______ regional Reserve Banks spread across the United States.
- 8
- 10
- 12
- 14
A: 12

Q: The Federal Reserve is composed of the
- Board of Governors, the Reserve Banks, and the Federal Open Market Committee.
- U.S. Treasury, the Reserve banks, and the Federal Open Market Committee.
- The Board of Governors, the National Banks, and the Federal Open Market Committee.
- U.S. Treasury, the National Banks, and the Federal Open Market Committee.
A: Board of Governors, the Reserve Banks, and the Federal Open Market Committee.

Q: The Federal Reserve System is an example of a ___________ central bank.
- centralized
- decentralized
- fiscal
- monetary
A: decentralized

Q: Each Reserve Bank has ________ members on its Board of Directors.
- 3
- 5
- 7
- 9
A: 9

Q: The Federal Open Market Committee (FOMC) makes decisions on how ________ policy should be managed.
- fiscal
- governmental
- monetary
- treasury
A: monetary

Q: Which of the following statements about the Federal Reserve System is true?
- The Federal Reserve System is made up of four major parts, which are part of the Treasury Department.
- The Federal Reserve System is made up of six regional Reserve Banks, which are independent within the government. 
- The Federal Reserve System is in part a government agency, which is independent within the government. 
- The Federal Reserve System is part of the judicial branch of government and reports to the attorney general. 
A: The Federal Reserve System is in part a government agency, which is independent within the government.