Banking test 2024/2025 updated Questions And Answers 100% correct Verified

What are the three main responsibilities of the Federal Reserve?1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member?Credit Union Which type of bank account is typically the most liquid?Checking Account Compare/ contrast a checking account and savings account. Which offers more interest? Which is easier to get money out of?Savings account offers more interest. Checking accounts are more easier to get your money out of. Between checking, savings, money market, and certificate of deposit, which typically has the highest interest rate? Which has the lowest liquidity?Certificate of Deposit (CD) What are the three parts of the Federal Reserve System?1.Reserve Banks 2.Federal Open Market Committee 3.Board of Governors.