Hi Tim,
Thanks for the question. There are many ways to accomplish what you are asking for, I'll give you one example:
- Create a picklist field
- Add a picklist to the picklist field
- Set a default value in the picklist and it will automatically populate the field
*In the properties of the field you can select a checkbox that will make the field required.
Let me know if this works for you, good luck!
-Brianna