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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What did communism become known as in the 1980s?
(a) What was called communism had its name changed to socialism, although the system worked exactly the same.
(b) What was called communism had its name changed to social democracy, although the system worked exactly the same.
(c) What was called communism had its name changed to social capitalism, although the system worked exactly the same.
(d) What was called communism had its name changed to fascism, although the system worked exactly the same.

2. What was the name of the central bank established in 1791?
(a) The Bank of America was chartered in 1791.
(b) The Bank of New England was chartered in 1791.
(c) The Bank of the Philadelphia was chartered in 1791.
(d) The Bank of the United States was chartered in 1791.

3. What restrictions were placed on the Bank of Amsterdam which was established in 1609?
(a) In 1609 the Bank of Amsterdam was formed and restricted from using over twenty percent of its revenues for loans.
(b) In 1609 the Bank of Amsterdam was formed and restricted from making loans with its deposits.
(c) In 1609 the Bank of Amsterdam was formed and restricted from making more loans than the deposits it received.
(d) In 1609 the Bank of Amsterdam was formed and restricted from taking foreign deposits.

4. How many revolutions did Russia actually undergo?
(a) Russia went through seven revolutions.
(b) Russia went through three revolutions.
(c) Russia went through two revolutions.
(d) Russia went through five revolutions.

5. What role did J. P. Morgan have in Milner's secret society?
(a) J.P. Morgan financed all sides of political struggles so that no matter who won, that side would be beholding to him and his organizations.
(b) J.P. Morgan financed all sides of political struggles to boost his chances for elective office.
(c) J.P. Morgan financed the sides of political struggles that agreed with his liberal views.
(d) J.P. Morgan financed the sides of political struggles that agreed with his conservative views.

6. What disagreement did Alexander Hamilton and Thomas Jefferson have about a central bank?
(a) Thomas Jefferson favored a central bank and Alexander Hamilton was against it.
(b) Alexander Hamilton favored a powerful central bank and Thomas Jefferson was for limited powers.
(c) Alexander Hamilton wanted a limited central bank and Thomas Jefferson wanted its authority to be more far-reaching.
(d) Alexander Hamilton favored a central bank and Thomas Jefferson was against it.

7. What culture first developed the modern equivalent of the banking industry?
(a) The city-state of Venice was considered to have started banking as known today by establishing the Banco della Piazza del Rialto in 1584.
(b) The city-state of Sparta was considered to have started banking as known today by establishing the Banco della Piazza del Rialto in 1584.
(c) The city-state of Rome was considered to have started banking as known today by establishing the Banco della Piazza del Rialto in 1584.
(d) The city-state of Athens was considered to have started banking as known today by establishing the Banco della Piazza del Rialto in 1584.

8. What did the author predict would become the world government?
(a) China would become the world government.
(b) The UN was the organization that would become the world government.
(c) Europe would become the world government.
(d) The US would become the world government.

9. When did governmental typically find it necessary to print more paper money?
(a) Governments simply printed more money when needed, usually during times of war.
(b) Governments simply printed more money when needed, usually during economic downturns.
(c) Governments simply printed more money when needed, usually during legislative battles.
(d) Governments simply printed more money when needed, usually during political unrest.

10. The Rothschilds financed the conflict in which what historic leader was defeated by England?
(a) The Rothschilds helped the English defeat Kaiser Wilhem II.
(b) The Rothschilds helped the English defeat King Louis XVI.
(c) The Rothschilds helped the English defeat Vladimir Lenin.
(d) The Rothschilds helped the English defeat Napoleon.

11. What decade marked the beginning of a tremendous surge in U.S. debt?
(a) The U.S. grew its debt tremendously since 1950.
(b) The U.S. grew its debt tremendously since 1960.
(c) The U.S. grew its debt tremendously since 1930.
(d) The U.S. grew its debt tremendously since 1910.

12. What caused England to nearly go broke?
(a) The British pound suffered in the US market, which led to the country nearly going broke.
(b) The British pound suffered in the international markets, which led to the country nearly going broke.
(c) The British pound suffered in the Asian market, which led to the country nearly going broke.
(d) The British pound suffered in the European market, which led to the country nearly going broke.

13. What were the sales of English and French war bonds used for?
(a) Most of the money from the sales of the war bonds were spent on uniforms and supplies for the soldiers.
(b) Most of the money from the sales of the war bonds were spent on American war materials.
(c) Most of the money from the sales of the war bonds were spent on Russian artillery.
(d) Most of the money from the sales of the war bonds were spent on German war materials.

14. What bank was The Bank of North America modeled after?
(a) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of France.
(b) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Germany.
(c) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of England.
(d) The Continental Congress established The Bank of North America in 1781, and it was modeled after the Bank of Russia.

15. What realistic scenario was discussed in Chapter 26 involving the U.S. monetary system?
(a) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on platinum, with gold as an auxiliary reserve.
(b) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on silver, with gold as an auxiliary reserve.
(c) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on gold, with silver as an auxiliary reserve.
(d) The realistic scenario described in Chapter 26 involved what could happen if the U.S. were to abandon fiat money and go back to money based on silver, with platinum as an auxiliary reserve.

Short Answer Questions

1. What caused wildcat banks to develop?

2. What do some radical conspiracy theorists believe about the 9/11 attacks?

3. What other organizations were spawned from Milner's secret society?

4. When was the Federal Reserve Act passed?

5. What were the additional goals after the Federal Reserve was established in 1910?

(see the answer keys)

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