Exchange Rates Are Quoted on American Terms If

question 3

Multiple Choice

Exchange rates are quoted on American terms if:

• A) The US dollar is quoted directly
• B) The US dollar is quoted indirectly
• C) The US dollar is not quoted
• D) The US dollar is quoted in the denominator

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Definitions:

Consideration

An essential element in contract law, referring to something of value exchanged between parties as part of entering into a contract.

Beneficiary Modification

Changes made to the designated recipient of benefits or entitlements under a legal instrument such as a will or insurance policy.

Gifts

Voluntary transfers of property or funds from one person to another without any expectation of payment or compensation.

Fraud

Intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.