Members of the Federal Reserve Board of Governors Serve One

question 102

Multiple Choice

Members of the Federal Reserve Board of Governors serve one nonrenewable term of:

• A) 4 years.
• B) 7 years.
• C) 14 years.
• D) life.

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Definitions:

Without Compensation

Performing an action or providing a service without receiving any form of payment or benefit in return.

Heir

A person legally entitled to receive a share of the deceased's estate.

Decedent

A person who has died, especially in context relating to the disposal of their estate.

Gift

The voluntary and gratuitous transfer of property or funds from one person to another without any expectation of receiving something in return.