1) What is a currency? a) Money that can be all around the world b) A unit of money within a country c) Money printed by the Bank of England 2) How many countries use the Euro? a) 14 b) 17 c) 24 d) 27 3) How many states use the Euro? a) 16 b) 23 c) 27 4) What is the 'Euro' short for? a) Euro Millions b) European c) Europe's currency 5) What is the currency for the USA? a) Dollar b) USD c) Canadian Dollar 6) What country does not use the dollar as currency? a) USA b) Australia c) Austria d) Canada e) Jamaica f) Singapore 7) What is the exchange rate? a) The rate the bank give you when you use your paying in slip b) The amount of money you get when you return a product to a shop c) The price of buying or selling different currencies 8) What is the formula for calculating the price of buying a currency? a) Amount of sterling x Exchange rate b) Amount of sterling / Exchange rate c) Amount of sterling - Exchange rate 9) You have £100 to exchange into euros. The rate of exchange is £1 = 1.25 euros. What will you get for your £100 euros? a) 100 euros b) 125 euros c) 1225 euros 10) If you have foreign currency left over from a trip, what must you do with it to swap it back into sterling? a) - b) + c) / d) x 11) You have 180 euros left over after your trip to France and want to swap it back into sterling. The rate is 1.30 euros to the pound. What will you get? a) £100.48 b) £138.46 c) £234.00 12) What is commission? a) Money you get from selling things b) Money the bank charges for changing currencies c) Money the bank makes from charging interest on money borrowed

Topic 8 using money abroad

by Anonymous
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