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Question 0

The fed consists of ___ with a central decision making board

Answer 0

12 regional banks

Question 1

In 1913 congress passed the ______ which established the federal reserve system

Answer 1

Federal reserve act

Question 2

Part of FDR’s new deal program was the

Answer 2

Banking act of 1933

Question 3

The _______________________________________________ provided federal insurance so that if a bank failed, people would no longer lose their money

Answer 3

Federal deposit insurance corporation (FDIC)

Question 4

The term bank is used to refer to almost any kind of financial institution that takes in deposits and makes loans, helping individuals, businesses ,and gov to manage their money

Question 5

The goal of a bank is to earn a

Answer 5

Profit

Question 6

____ is the oldest form of banking and are the financial institutions most commonly thought of as banks

Answer 6

Privately owned commercial banks

Question 7

____ provide basic banking services, _____ bought and sold assets through the financial markets

Answer 7

commercial banks, investment banks

Question 8

_____ led to a wave of mergers do and consolidations, reducing the numbers of commercials banks from over 12000 in 1990 to about 7500 in 2005

Answer 8

Deregulations

Question 9

All national commercials banks belong to

Answer 9

Federal reserve system