A Medium of Exchange Adopted or Authorized by a Sovereign

question 67

Multiple Choice

A medium of exchange adopted or authorized by a sovereign government as part of its currency is known in the law of negotiable instruments as:

• A) the sum certain.
• B) consideration.
• C) value.
• D) money.

---

Definitions:

Canadian Security

A financial instrument issued in Canada, representing an investment in stocks, bonds, or other securities.

Norwegian Krone

The official currency of Norway, symbolized as NOK.

Inflation Rate

The rapidity with which the general pricing for services and products increases, diminishing the strength of currency.

Risk-Free Rate

The theoretical rate of return on an investment with zero risk, typically associated with government bonds.