Magneto-optical and optical spectroscopies in the spectral range from 1 to 4 eV were applied for studying Fe/Zr multilayered films with the bilayer period 1.6-25 nm and d(Fe)/d(Zr) thickness ratios of 1:1, 1:2, and 1:4. Experimental results are compared with the computer simulated ones using an effective medium approximation. For Fe/Zr multilayers with a nominal thickness d(Fe) = 5 nm, the Kerr spectra can be satisfactorily simulated whereas a large discrepancy between the experiment and the model is observed for multilayers with nominal thickness d(Fe) < 2.4 nm, which suggests transformation to an amorphous structure.