Title: QUIZ: The Payments System Explained -- Fed Explained Video Series
Course: Kelly's Copy-Export Course > Section: The Payments System Explained -- Fed Explained Video Series

Q: What is the job of the payments system?
- The payment system processes checks in 45 locations
- To oversee the Federal Reserve System
- To keep money moving and keep the economy healthy
- To watch over wholesale payments, but not retail payments
A: To keep money moving and keep the economy healthy

Q: In what way does the Fed make sure that the monetary circulation system stays in good shape?
- By processing checks at 45 facilities around the country
- By hiring companies to transfer funds between banks 
- By staying out of the payments system and allowing business to circulate money
- By distributing and receiving currency and keeping it circulating in good condition 
A: By distributing and receiving currency and keeping it circulating in good condition 

Q: Which of the following is an example of a retail payment?
- Paying a child’s allowance with cash.
- Social security payments made by the U.S. Treasury.
- Donating cash for a meal at a fundraiser.
- Paying your power bill online.
A: Paying your power bill online.

Q: Headquartered in Atlanta, the Federal Reserve Office that deals with the majority of the nation’s money held in checking accounts is known as
- Check 21.
- The Regional Economic Information Network. 
- The Retail Payments Office.
- The Office of Monetary Accounts. 
A: The Retail Payments Office.

Q: The Check 21 Act
- makes it easier for planes to fly checks between locations for processing.
- allows a picture of a check to act as legal documentation that a check was paid.
- was passed in 1913 when the Fed began.
- increased the need for paper checks to be written.
A: allows a picture of a check to act as legal documentation that a check was paid.

Q: The Retail Payments Risk Forum
- is a group of experts that helps to keep online payments secure.
- keeps currency in circulation to meet public demand.
- oversees electronic transfers of funds between banks.
- assesses risks for mortgages and car loans.
A: is a group of experts that helps to keep online payments secure.