How Well You Know FOREX? Trivia Quiz

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Questions: 20 | Attempts: 128

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How Well You Know FOREX? Trivia Quiz - Quiz


How well you know forex? This forex trivia quiz is designed for those who are just getting started on all things foreign exchange. One of the things that you should know is what currency belongs to which country and the code assigned to it. Is the Kwacha the Zambian currency? Do you feel confident when it comes to identifying any other currebcy? Do take up the quiz and get to see how true that is.


Questions and Answers
  • 1. 

    What is the currency of the currency code found in this picture?

    • A.

      China Yuan

    • B.

      Japanese Yen

    • C.

      British Pound

    • D.

      American Dollar

    • E.

      6

    Correct Answer
    C. British Pound
    Explanation
    The correct answer is British Pound. The question asks for the currency of the currency code found in the picture. Since the currency code for the British Pound is GBP, it can be inferred that the currency in the picture is the British Pound.

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  • 2. 

    What is the currency for this currency code?

    • A.

      China Yuan

    • B.

      Japanese Yen

    • C.

      Euro

    • D.

      None of the above

    Correct Answer
    B. Japanese Yen
    Explanation
    The correct answer is Japanese Yen. Japanese Yen is the currency for the currency code mentioned in the question.

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  • 3. 

    What is the currency of the currency code?

    • A.

      Euro

    • B.

      British pound

    • C.

      Japanese Yen

    • D.

      None of the above

    Correct Answer
    B. British pound
    Explanation
    The correct answer is British pound because the question is asking for the currency associated with the currency code, and the British pound is a well-known currency with its own currency code (GBP). The other options, Euro and Japanese Yen, are also currencies but they do not match the given currency code. Therefore, the correct answer is British pound.

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  • 4. 

    Which country uses CHF?

    • A.

      China

    • B.

      Switzerland

    • C.

      Liechtenstein

    • D.

      B, C

    • E.

      None of the above

    Correct Answer
    D. B, C
    Explanation
    The correct answer is Switzerland and Liechtenstein. These countries use CHF as their currency. China does not use CHF as its currency.

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  • 5. 

    What country has its currency code changed as of July 2010?

    • A.

      Armenia

    • B.

      Ghana

    • C.

      India

    • D.

      Yemen

    • E.

      Zimbabwe

    Correct Answer
    C. India
    Explanation
    As of July 2010, India changed its currency code. This means that the code used to represent the currency of India was modified during that time.

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  • 6. 

    Does Forex include currencies of the world?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Forex, also known as the foreign exchange market, is a global marketplace where currencies of different countries are traded. It involves the buying and selling of currencies, making it clear that Forex does include currencies of the world. Therefore, the correct answer is True.

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  • 7. 

    Spot Forex Trading ·         buying and selling of one currency against another currency ·         based on ________ rate

    • A.

      Market

    • B.

      Agreed

    • C.

      Pre-agreed

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    C. Pre-agreed
    Explanation
    In spot forex trading, the buying and selling of one currency against another currency is based on a pre-agreed rate. This means that the rate at which the currencies are exchanged is agreed upon in advance between the parties involved in the trade. This pre-agreed rate helps to ensure transparency and eliminates the risk of sudden rate fluctuations during the transaction. Therefore, the correct answer is "pre-agreed".

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  • 8. 

    Forex is available. 

    • A.

      24 hours

    • B.

      24 hours except Saturday

    • C.

      24 hours except Sundays

    • D.

      24 hours except Saturday and Sundays

    • E.

      None of the above

    Correct Answer
    D. 24 hours except Saturday and Sundays
    Explanation
    Forex is a decentralized market that operates 24 hours a day, five days a week. This means that it is open from Monday to Friday, allowing traders to trade currencies at any time during these days. However, the market is closed on Saturdays and Sundays, hence the correct answer is "24 hours except Saturday and Sundays".

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  • 9. 

    Currencies _______ have the tendency to follow countries growth.

    • A.

      Does

    • B.

      Dosen't

    • C.

      None of the above

    Correct Answer
    A. Does
    Explanation
    Currencies do have the tendency to follow countries' growth. This means that when a country's economy is growing, its currency tends to strengthen and appreciate in value. On the other hand, when a country's economy is not performing well, its currency may weaken and depreciate. This relationship is influenced by various factors such as interest rates, inflation, trade balance, and market sentiment. Therefore, it can be said that currencies are generally affected by the growth or decline of the countries they belong to.

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  • 10. 

    Singapore currency code is

    • A.

      SCG

    • B.

      SID

    • C.

      SCC

    • D.

      SGD

    • E.

      None of the above

    Correct Answer
    D. SGD
    Explanation
    The correct answer is SGD. SGD is the currency code for Singapore. It stands for Singapore Dollar.

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  • 11. 

    United Kingdom Pound?

    • A.

      GBP

    • B.

      UKP

    • C.

      ENP

    • D.

      IRP

    • E.

      SCP

    Correct Answer
    A. GBP
    Explanation
    The correct answer is GBP, which stands for Great British Pound. GBP is the official currency code for the currency used in the United Kingdom. It is widely recognized and used in international financial transactions.

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  • 12. 

    Choose the currency of the country given: South Africa

    • A.

      Rand

    • B.

      Franc

    • C.

      Dollar

    • D.

      Kronor

    • E.

      Rand

    Correct Answer
    E. Rand
    Explanation
    The currency of South Africa is the Rand.

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  • 13. 

    Choose the currency of the country given: Malaysia

    • A.

      Baht

    • B.

      Dollar

    • C.

      Ringgit

    • D.

      Rupee

    • E.

      Rupiah

    Correct Answer
    C. Ringgit
    Explanation
    The correct answer is ringgit. The ringgit is the currency of Malaysia. It is issued by the Bank Negara Malaysia, the country's central bank. The ringgit is subdivided into 100 sen and is commonly represented by the symbol RM. It is used for all transactions within the country and is also accepted as legal tender in some parts of Thailand and Singapore.

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  • 14. 

    Choose the currency of the country given: India

    • A.

      Rupee

    • B.

      Rupiah

    • C.

      Dollar

    • D.

      Ruble

    • E.

      None of the above

    Correct Answer
    A. Rupee
    Explanation
    The correct answer is Rupee. The currency of India is the Rupee.

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  • 15. 

    Choose the currency of the country given: Korea

    • A.

      Won

    • B.

      Lost

    • C.

      Ruble

    • D.

      Yen

    • E.

      None of the above

    Correct Answer
    A. Won
    Explanation
    The correct answer is "Won" because the currency of Korea is the South Korean Won.

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  • 16. 

    Which country is not using Euro?

    • A.

      Switzerland

    • B.

      Italy

    • C.

      France

    • D.

      Spain

    • E.

      None of the above

    Correct Answer
    A. Switzerland
    Explanation
    Switzerland is not using Euro. While Italy, France, and Spain are all part of the Eurozone and use the Euro as their official currency, Switzerland has its own currency called the Swiss Franc. Therefore, Switzerland is the correct answer as it is the only country listed that does not use the Euro.

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  • 17. 

    What currency was used in the home of Big Ben in the year 2000?

    • A.

      Sterling Pound

    • B.

      Euro

    • C.

      US Dollar

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    A. Sterling Pound
    Explanation
    In the year 2000, the currency used in the home of Big Ben was the Sterling Pound. This is because Big Ben is located in London, which is the capital of the United Kingdom, and the official currency of the UK is the Sterling Pound. Therefore, it is logical to conclude that the currency used in the home of Big Ben in the year 2000 would be the Sterling Pound.

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  • 18. 

    Taiwan uses the same official currency like China.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Taiwan does not use the same official currency as China. While China uses the Chinese yuan (CNY) as its official currency, Taiwan uses the New Taiwan dollar (TWD). The two currencies have different exchange rates and are managed by separate central banks. Therefore, the statement that Taiwan uses the same official currency as China is false.

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  • 19. 

    I will use _________in Philippine. 

    • A.

      Pest

    • B.

      Peso

    • C.

      Rupee

    • D.

      None of the above

    Correct Answer
    B. Peso
    Explanation
    The correct answer is Peso. The question is asking for the currency that will be used in the Philippines. The currency used in the Philippines is the Peso.

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  • 20. 

    What is the currency of Vietnam?

    • A.

      Ding

    • B.

      Dong

    • C.

      Bell

    • D.

      Viet

    • E.

      None of the above

    Correct Answer
    B. Dong
    Explanation
    The correct answer is "Dong." The currency of Vietnam is the Vietnamese Dong.

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