The currency is a standardization medium of exchange called as money used in any form such as banknotes and coins.
One more famous and general definition is that “A currency is a system of money in common use within a specific environment over time, especially for people in a nation.”
One can classify currencies into three monetary systems – Fiat money, Commodity money and Representative money,
The class of currencies depends on what guarantees come out towards the value of any currency.
Some of the currencies function as legal tender in certain jurisdictions such as payment to a government taxes, or government agencies fees and fines.
Here is some MCQ questions based on General Knowledge. Important for all competitive exams such as UPSC, SSC, Banking or any State Government exam or otherwise to improve the knowledge.
Let’s start the MCQ / Quiz
01) The word currency comes from the word “Currere”, which means “to flow”. The word “currere” comes from which of the following language?
A) Latin
B) Greek
C) Roman
D) Egyptian
Correct answer is option “A”
02) The word “money” comes from the word “monere,” which means ” to warn. The word “monere” comes from which of the following language?
A) Roman
B) Egyptian
C) Latin
D) Greek
Correct answer is option “C”
03) Which of the currency is known as the real currency of the world?
A) Japanese Yen
B) British Pound
C) EURO
D) US Dollar
Correct answer is option “D”
04) What is the world’s dominant reserve currency and the most traded currency globally among the following?
A) US Dollar
B) British Pound
C) EURO
D) Japanese Yen
Correct answer is option “A”
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05) Which of the following currenct is the second largest reserve currency and the second most traded currency in the world, which is used by the most countries and territories?
A) US Dollar
B) British Pound
C) EURO
D) Japanese Yen
Correct answer is option “C”
06) Is there any world currency?
A) Yes, USD is the world currency
B) Yes, EURO is the world currency because it is used by the most countries and territories
C) Yes, British Pound is the world currency because many of the countries of the world had been under their control as colony.
D) No, there is no currency as The World Currency,
Correct answer is option “D”
07) What is called the unique three letter identifiers that denote a specific currency?
A) Currency Block
B) Currency Identity
C) Currency Code
D) Currency Pincode
Correct answer is option “C”
08) A unique three letter code has allotted to every currency but these currency code is recognized by whom?
A) USA
B) EURO Countries
C) World Bank
D) United Nations
Correct answer is option “D”
09) Why is US Dollar the strongest currency in the world?
A) Because most of the countries in the world rely on the US dollar to support their economy.
B) Because US has the largest economy in the world,
C) Because the US dollar is use globally for trade.
D) All the above
Correct answer is option “D”
10) Which currency is the weakest currency in the world?
A) Indonesian Rupiah
B) Iranian Rial
C) Uzbekistani Som
D) Vietnamese dong
Correct answer is option “B”
11) How many mints owned by the Government of India in the country?
A) Two
B) Three
C) Four
D) Five
Correct answer is option “C”
12) The mint is not located in which of the following place in the country from the options?
A) Mumbai
B) Nasik
C) Hyderabad
D) Calcutta
Correct answer is option “B”
13) How many government owned note printing press are there in the country?
A) Four
B) Five
C) Six
D) Seven
Correct answer is option “A”
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14) At which place the government owned printing press in Central India?
A) Nasik
B) Dewas
C) Mysore
D) Salboni
Correct answer is option “B”
15) The government owned printing press located in Salboni is situated in which of direction of India?
A) Western India
B) Central India
C) Southern India
D) Eastern India
Correct answer is option “D”
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Wish you all the best for a brightest future.