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Free money test · ages 8 and up

Federal Reserve Quiz for Kids

10 quick questions with instant answers and explanations. No sign-up needed.

Goldie, the Wealthonauts money history companion

This Federal Reserve quiz for kids tests what you know about the bank behind the banks. Its ten questions cover what a central bank does, how Fed governors are chosen, the federal funds rate, inflation, paper money and how the Fed and the Treasury differ. Each answer comes with a short explanation.

The quiz is free, and anyone can take it. Ages 8 and up is a starting point, and teens and grown-ups who are new to the Fed are welcome too. Score 8 or more and you could be a tour guide! If not, Goldie’s book Inside the Federal Reserve takes you on the full tour.

What this test covers

  • What a central bank does
  • Bank runs and why the Fed was created
  • The Board of Governors and how governors are chosen
  • The federal funds rate and inflation
  • Where paper money and coins come from
  • Fed independence and the Treasury

How it works: answer all 10 questions, then press “Check my answers.” Get 8 or more right to pass. You’ll see why each answer is right, plus what to read or take next. No sign-up needed, and your answers are not saved.

Take the test

Ages 8 and up — and anyone who wants to learn this.

  1. Question 1 of 10Who can open an account at the Federal Reserve?
  2. Question 2 of 10What are reserves?
  3. Question 3 of 10What is a bank run?
  4. Question 4 of 10How long is a full term for a Fed governor?
  5. Question 5 of 10How does someone become a Fed governor?
  6. Question 6 of 10What is the federal funds rate?
  7. Question 7 of 10In real life, what inflation rate does the Fed aim for over the longer run?
  8. Question 8 of 10On paper money, what does the Reserve Bank letter in the serial number tell you?
  9. Question 9 of 10Who makes U.S. coins?
  10. Question 10 of 10What does "central bank independence" mean for the Fed?

Want to really understand it?

This test is based on Inside the Federal Reserve, Book 04 of The Wealthonauts Adventures. Ages are a starting point, not a limit: plenty of teens and grown-ups are learning these ideas for the first time. Read the book online, take the matching Wealthonauts course, then come back and test yourself again.

More free tests: see all 12 money tests.