Which of the Following Statements Concerning the Federal Reserve Board

question 146

Multiple Choice

Which of the following statements concerning the Federal Reserve Board is incorrect?

• A) Its members are confirmed by the Senate.
• B) It has seven members.
• C) Members serve fourteen-year terms.
• D) No member has ever been removed for cause.
• E) The chairman serves for life.

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Definitions:

Spirit

The non-physical part of a person, often associated with emotions, character, or the soul.

Letter

A written, typed, or printed communication sent to a recipient.

NCCUSL

The National Conference of Commissioners on Uniform State Laws (NCCUSL) is an organization aimed at creating uniform legislation across different states to streamline state law.

UCITA

The Uniform Computer Information Transactions Act, a proposed state law aimed at governing the sale and licensing of computer software and digital information.