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Consider the following about Special Drawing Right (SDR) 1. The SDR is an international reserve asset created and administered by the WTO 2. SDRs can be exchanged for freely usable currencies 3. A Gold backing is mandatory for a nation to increase SDR deposits 4. The SDR is a not the financial claim on the IMF as it is accepted by most international organizations Which of the above statements is/are correct?
Which of the following statement is correct?
Statement I In currency quotation, the first currency is the base Currency and the second currency is known as the quoted currency.
Statement II A currency pair is generally represented by using a hyphen or an oblique.
After US dollar, which of the following currencies has largest weightage in determining the value of SDR?
Profits can be increased by
1. decreasing the selling price per unit.
2. increasing the selling price per unit.
3. decreasing the volume of sales.
4. increasing the volume of sales.
5. decreasing the fixed or variable expenses.
6. increasing the fixed or variable expenses.
7. giving more weightage for products having higher P/V ratio.
8. giving less weightage for products having higher P/V ratio.
Select the correct answer
Which of the following option is correct?
Statement I Direct quote is when the foreign currency remains fixed and the home currency keeps on varying.
Statement II Quotations in direct quote are the ones that represent the value of a foreign currency in rupees (number of rupees per currency) are denoted as direct quotations.
Which of the following statement is true?
Statement I Cross rate represents when one unit of foreign currency is represented in the terms of another foreign currency.
Statement II Cross rates are determined only with the help of domestic currency and the foreign currency.
One of the Primary functions of IMF is to provide short term capital assistance to member countries through SDR (Special Drawing Rights). What is NOT true about SDR?
The given statements are related to financial derivatives. Choose the correct answer for the statements being correct or incorrect.
Statement I A speculator will gain, if he sells foreign currency under a forward contract, when the spot price is higher than the forward price.
Statement II In currency futures, intra currency spread exists when a speculator buys/sells the same currency for two delivery dates.
Priyanshu has currency notes of Rs. 10 and Rs. 20. She uses 2 notes of Rs. 20 and 1 note of Rs. 10 to form Rs. 50. How many other combinations are possible to form the same amount using both the currency notes? You can ignore the spatial arrangements of the currency notes.
 In the following question, sentences of a paragraph have been jumbled and labelled as A, B, C and D. You are required to rearrange the jumbled sentences of the paragraph and mark your response accordingly by selecting the correct option. A: The opposite of demonetization is remonetization, in which a form of payment is restored as legal tender. B: Sometimes, a country completely replaces the old currency with new currency. C: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins.  D: Demonetization is the act of stripping a currency unit of its status as legal tender.