1) Daily trading volume in the foreign exchange market was about ________ per ________ in 2019.

A) $6,600 billion; month

B) $2,500 billion; month

C) $6,600 billion; day D) $2,500 billion; day

2) Most foreign exchange transactions are through the U.S. dollar. If the transaction is expressed as the foreign currency per dollar this known as ________ whereas ________ are expressed as dollars per foreign unit.

A) European terms; indirect

B) American terms; direct

C) American terms; European terms D) European terms; American terms

3) The following is an example of an American term foreign exchange quote: A) $20/

B) 0.85/$

C) 100/

D) none of the above

4) From the viewpoint of a British investor, which of the following would be a direct quote in the foreign exchange market?

A) SF2.40/

B) $1.50/

C) 0.55/ D) $0.90/