M&M L1.1 Act 2: Origins of Money

1. Before money was invented, people used a different process to exchange goods and services. What is this system of trading called?

• A. Free trade

• B. Share trading

• C. Barter

• D. K Mart

2. Which country invented the first paper currency in 800 A.D.?

• A. US

• B. England

• C. Spain

• D. China

3. Which of the following is the oldest form of ‘money’?

• A. Rice, wheat and cowrie shells

• B. Knives and spades

• C. Cows, sheep, camels and other livestock

• D. All of the above

4. The ringgit is issued by

• A. Bank Negara Malaysia

• B. Putrajaya

• C. Bank Simpanan Nasional

• D. Citibank

5. The first series of sen coins in Malaysia were introduced in 1967 in denominations of 1 sen, 5 sen, 10sen, 20 sen, 50sen.

• A. True

• B. False

6. A ringgit is divided into 100 sen.

• A. True

• B. False

7. Currencies are often identified by symbols. What is the symbol used by the British pound?

• A. $

• B. £

• C. ¥

• D. €

8. Today, monetary transfers are carried out efficiently by computers. What is cash that is exchanged in this way called?

• A. Ready cash

• B. Bank cash

• C. Digital cash

• D. Exchange cash

9. What image is featured on the back of a Malaysian ten ringgit note?

• A. Rafflesias

• B. Turtles

• C. The Petronas Twin Towers

• D. The Wau Bulan

10. The Malay names ringgit and sen were officially adopted as the sole official names of the Malaysian currency in

• A. June 1967

• B. November 1967

• C. August 1975

• D. September 1998