uestion 2
As of 2019, the Chairman of the Federal Reserve is ________________________.
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Jerome Powell
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Alan Greenspan
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Ben Bernanke
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Janet Yellen
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uestion 3
The budget-making process rests with the
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Congress.
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U.S. Treasury.
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President’s Council of Economic Advisors.
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U.S. Treasury in cooperation with the Fed.
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uestion 4
This is the study of how individuals prepare for financial emergencies, protect against premature death and property losses, and accumulate wealth.
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Corporate finance
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Business finance
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Entrepreneurial finance
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Personal finance
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None of the above
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uestion 5
The members of the Fed Board of Governors are
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elected by the member banks.
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appointed by the President of the United States with the advice and consent of the Senate.
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appointed by the Secretary of the Treasury.
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appointed by each of the Federal Reserve banks.
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uestion 6
Involves conducting financial analysis and valuation of new securities being issued.
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Stockbroker
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Security analyst
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Investment banking analyst
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Financial planner assistant
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uestion 7
Vault cash and deposits held at Federal Reserve Banks.
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Excess reserves
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Required reserves ratio
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Fractional reserve system
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Bank reserves
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uestion 8
Which of the following is not a responsibility of the Board of Governors?
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Sets reserve requirements
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Supervises and regulates member banks
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Proposes discount rates
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Oversees Federal Reserve Banks
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uestion 9
The Class C directors of each Federal Reserve Bank are
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appointed by the Board of Governors of the Federal Reserve System.
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elected by the member banks.
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chosen by the Board of Governors and by the member banks.
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appointed by the President of the United States with the advice and consent of the Senate.
uestion 10
Involves conducting research on investment opportunities for a bank trust department.
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Loan analyst
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Bank teller
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Investments research analyst
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Bank manager
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uestion 11
An economy’s _____________________ is the interaction of policy makers, a monetary system, financial institutions, and financial markets to expedite the flow of financial capital from savings into investment:
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banking system
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stock market
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capital market
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financial system
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uestion 12
Deposits that add new reserves to the bank where they are deposited are called
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primary deposits.
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derivative deposits.
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secondary deposits.
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Special Drawing Rights.
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uestion 13
Under the authority of the Federal Reserve Act of 1913
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all national and state-chartered banks must become members of the Fed.
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only national banks were permitted to become members of the Fed.
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state-chartered banks were permitted to withdraw from membership with the Fed.
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a system of deposit insurance was created.
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uestion 14
Occurs when tax revenues are more than expenditures.
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Federal budget
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Budget surplus
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Balanced budget
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Monetizing the debt
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The Fed controls the _____ supply.
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credit
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mortgage
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money
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credit card balances
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uestion 16
The capital stock of each Federal Reserve Bank
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is owned by the Board of Governors of the Fed.
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can be used in an emergency to provide funds for the Fed.
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is owned by members of the individual Federal Reserve Banks.
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has been reserved for purchase of the U.S. Treasury.
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uestion 17
Two risky assets can be combined to lower the overall risk of a portfolio. This principle is commonly referred to as
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blending
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asset allocation
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diversification
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portfolio segmentation
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uestion 18
Budgetary deficits always have the effect of
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creating inflationary pressures.
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crowding out private lenders.
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forcing the Federal Reserve to buy government securities.
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creating governmental competition for private investment funds.
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uestion 19
The U.S. banking system has the ability to alter the size of the money supply because of the use of
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a 100% reserve system.
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a fractional reserve system.
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the Federal Reserve System’s excess reserves.
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Federal Reserve notes issued by the U.S. Treasury.
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uestion 20
In September, 2008 ____________ was acquired by Bank of America and _____________ declared bankruptcy when no viable financial alternatives surfaced.
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Bank of America; Washington Mutual
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Merrill Lynch; Lehman Brothers
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Citicorp; Smith Barney
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Morgan Stanley; Chase
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