Fiduciary money, or so called currency, currency notes refers to coins and banknotes which is in the circulation to run the economy of any country. The Fiduciary Money has the power of liquidity available in any of economic conditions to carry out any financial transactions. The Fiduciary Money has became a means of payment. The Currency called Fiduciary money has the properties of tangible asset, on the other side the scriptural money which is immaterial.
The King Aliatte II had minted the first ever called coin in 650 BC and it became the first minted coin ever.
The objective behind to introduce the coin was to smooth the record of the financial transactions of the agents in the state.
The introduction of the coin got the better results and become the end of the barter system of medium of exchange and gave the way to flourish the trade in the state. Gradually in all the world’s geographical areas created their own currencies thus facilitating trade.
Here is some MCQ question related to the topic.
Let’s start the MCQs / Quiz
01) Which of the following money is typr of money which is accepted as a medium of exchange due to the trust that exists between the payer and the payee.
A) Fiat Money
B) Fiduciary Money
C) Metallic Money
D) Commercial Bank Money
Correct answer is option “B”
02) The current monetary system in the world is the example of which of the following type of money?
A) Fiat Money
B) Metallic Money
C) Commercial Bank Money
D) Fiduciary Money
Correct answer is option “D”
03) Fiduciary money or so called currency or currency notes refers to the coins and banknotes which is in the circulation to run the economy of any country. Whether this statement is true or not true?
A) True
B) Not True
Correct answer is option “A”
04) Which of the following type of money has the power of liquidity available in any of economic conditions to carry out any financial transactions.
A) Fiat Money
B) Metallic Money
C) Commercial Bank Money
D) Fiduciary Money
Correct answer is option “D”
05) In current situation Which of the following types of currency has the power to became a means of payment?
A) Fiat Money
B) Fiduciary Money
C) Commercial Bank Money
D) Metallic Money
Correct answer is option “B”
06) Which of the type of following currency has the properties of tangible asset?
A) Fiat Money
B) Metallic Money
C) Fiduciary Money
D) Commercial Bank Money
Correct answer is option “C”
07) What was the name of the state head who minted the first ever called coin?
A) King Argishti II
B) King Aliatte II
C) King Sarduri III
D) King Rusa II
Correct answer is option “B”
08) The King Aliatte II introduced and minted the first ever called coin in ___________ BC. Complete the sentence.
A) 615 BC
B) 635 BC
C) 650 BC
D) 680 BC
Correct answer is option “C”
Try more MCQ’s…….
Classification of money
Paper Money
Representative Money
Full Bodied money
अन्य विषयों पर अधिक MCQ करने के लिए यहां क्लिक करें
Wish you all the best for a brightest future.