What role does the Electoral College play in the U.S. political system?

The Electoral College is a unique mechanism established by the U.S. Constitution for the indirect election of the President and Vice President. In this system, voters in each state cast ballots for a slate of members of the Electoral College, who are pledged to vote for a specific candidate based on the outcome of the popular vote in that state.

Once the votes are cast and counted, the Electoral College members then meet and formally elect the President and Vice President. This process highlights the federal structure of the United States, where states play a crucial role in the selection of the nation's chief executive. The use of the Electoral College ensures that smaller states still have a significant voice in national elections, balancing the influence of more populous states.

The other options do not accurately reflect the function of the Electoral College. For instance, it does not directly elect members of Congress, it is not merely an advisory board, nor does it regulate the conduct of federal elections. Instead, these functions are handled by other components of the government and electoral process, illustrating the specific and vital role the Electoral College plays in facilitating presidential elections.