Members of the Federal Reserve System's Board of Governors

question 85

Multiple Choice

Members of the Federal Reserve System's Board of Governors

• A) are elected for life.
• B) hold 14-year staggered terms.
• C) are a special subcommittee of the Senate.
• D) are elected at large by district banks.

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Definitions:

Fraudulent Misrepresentation

The act of intentionally making false statements to induce another party to enter into a contract, resulting in harm or damage.

Intentional Misrepresentation

Deliberate false statement by one party aimed at getting another party to enter into an agreement.

Mutual Mistake

An error made by both parties in a contract that can render the agreement void.

Negligent Misrepresentation

A false statement of material fact made by a person who thinks it is true but who would have known the truth about the fact had he or she used reasonable care to discover or reveal it.