1) The president from which Federal Reserve Bank always has a vote in the Federal Open Market Committee?
A) Philadelphia
B) Boston
C) San Francisco
D) New York
2) An important function of the regional Federal Reserve Banks is
A) setting reserve requirements.
B) clearing checks.
C) determining monetary policy.
D) setting margin requirements.
3) Which of the following functions are not performed by any of the twelve regional Federal Reserve Banks?
A) Check clearing
B) Conducting economic research
C) Setting interest rates payable on time deposits
D) Issuing new currency
4) All ________ are required to be members of the Fed.
A) state chartered banks
B) nationally chartered banks
C) banks with assets less than $100 million
D) banks with assets less than $500 million