1. Which of these is an 'exotic' currency pair?
- EUR/USD
- USD/JPY
- USD/TRY
- GBP/USD
✅ Answer: USD/TRY
2. Which of these is a 'major' currency pair?
- EUR/TRY
- USD/ZAR
- EUR/USD
- GBP/MXN
✅ Answer: EUR/USD
3. Which currency is on one side of ~88% of all forex trades?
✅ Answer: US dollar
4. In EUR/USD, which currency is the base currency?
✅ Answer: EUR
5. A pair that does not include the US dollar is called a...?
- Cross pair
- Major pair
- Spot pair
- Exotic pair
✅ Answer: Cross pair
6. How often does the forex market trade each week?
- 24 hours, 5 days
- 24/7 all week
- 8 hours a day
- New York hours only
✅ Answer: 24 hours, 5 days
7. NZD/USD is nicknamed the...?
✅ Answer: Kiwi
8. Which participant type is the largest by forex volume?
- Retail traders
- Banks (interbank)
- Governments
- Tourists
✅ Answer: Banks (interbank)
9. USD/CAD is commonly called the...?
✅ Answer: Loonie
10. The price at which you can buy the base currency is the...?
- Bid price
- Ask price
- Mid price
- Strike price
✅ Answer: Ask price
11. AUD/USD is nicknamed the...?
✅ Answer: Aussie
12. USD/CHF is nicknamed the...?
✅ Answer: Swissy