WorksheetsFinance Unbox-ED ($) - Grade 6-8 - Session 001 - Quiz 1
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
Select the right order in the evolution of money
a)
1) Precious Metal Coins, 2) Barter System, 3) Fiat Currencies, 4) Paper Currencies
b)
1) Barter System, 2) Precious Metal Coins, 3) Paper Currencies, 4) Fiat Currencies
c)
1) Barter System, 2) Precious Metal Coins, 3) Fiat Currencies, 4) Paper Currencies
d)
1) Precious Metal Coins, 2) Barter System, 3) Paper Currencies, 4) Fiat Currencies
2.
Select all the statements that are true
a)
Double coincidence was one of the problems with the Barter System
b)
Value of goods to be exchanged was one of the problems with the Barter System
c)
Barter System sometimes involved the use of currencies
d)
All of the above
3.
Select all the statements that are true
a)
Coins were made out of precious metals such as gold and silver
b)
Coins provided a standardized way to measure the value of goods and services
c)
Precious metal coins had intrinsic value
d)
All of the above
4.
Select all the statements that are true
a)
Paper currencies were adopted by most countries in the 21st century
b)
Paper currencies were much easier to print than minting coins
c)
Paper currencies were more portable than coins
d)
All of the above
5.
Gold standard meant that paper currencies were redeemable against gold at a fixed rate by the countries which issued them
a)
True
b)
False
6.
Gold standard worked well for countries even as their economies grew in size
a)
True
b)
False
7.
Which was the first country to move away from the gold standard
a)
UK
b)
Germany
c)
USA
d)
Japan
8.
Select all the statements that are true
a)
Fiat currencies were adopted by most countries in the 21st century
b)
Several countries are still to move away from gold standard to fiat currencies
c)
Fiat currencies are not backed by gold reserves
d)
All of the above
9.
Select two countries which have the same currency symbol
a)
China and South Korea
b)
South Korea and Japan
c)
South Korea and Vietnam
d)
China and Japan
10.
Select the most used currency in the world
a)
Indian Rupee
b)
EU Euro
c)
US Dollar
d)
Japanese Yen
100 %
