Q 01/05

Each Federal Reserve Bank issues stock that cannot be sold or traded: who is required by law to hold it?

A) The US Treasury

B) Its member banks

C) State legislatures

D) Wall Street investors

Answer · why

B) Its member banks

Its member banks must buy the stock as a condition of joining, but the shares bring none of the usual control, and nearly all of the profit is handed ...

Q 02/05

Which is the only US state that is home to the headquarters of two regional Federal Reserve Banks?

A) Texas

B) Georgia

C) Virginia

D) Missouri

Answer · why

D) Missouri

Missouri won two of the banks in 1914, and critics at the time linked the choice to the number of Missouri politicians then in office.

Q 03/05

Which Federal Reserve Bank guards the world's largest known gold vault, 80 feet below street level?

A) New York

B) Chicago

C) Philadelphia

D) Boston

Answer · why

A) New York

New York keeps the bullion on Manhattan's bedrock, and almost all of it belongs to foreign central banks rather than to the United States.

Q 04/05

Which Fed chair, the subject of Bob Woodward's book Maestro, held the job from 1987 to 2006?

A) G. William Miller

B) William McChesney Martin

C) Alan Greenspan

D) Arthur Burns

Answer · why

C) Alan Greenspan

Alan Greenspan studied clarinet at the Juilliard School and played saxophone before he turned to economics.

Q 05/05

On a US one-dollar bill, the letter in the black seal beside Washington's portrait identifies what?

A) The plant that printed it

B) The bank that issued it

C) The official who signed it

D) The year it was designed

Answer · why

B) The bank that issued it

The bank that issued it is one of the regional Reserve Banks, named in the seal on $1 and $2 bills, while larger notes carry a letter-and-number code ...