Euro-Awareness Quiz
1. How many countries are there in the European Union (EU)?
a) 15
b) 12
c) 11
2. The EU brought in a single currency on 1 January 1999. What is it called?
a) the euro
b) the pound
c) the dollar
3. Which of the following EU countries entered EMU on 1 January 1999?
a) Belgium
b) Ireland
c) Finland
d) Sweden
e) Luxembourg
f) Austria
g) Greece
h) Netherlands
i) France
j) Germany
k) Denmark
l) Italy
m) United Kingdom
n) Spain
o) Portugal
4. What is the subdivision of the euro called?
a) Penny
b) Cent
c) Centime
d) Ecu
5. What will the highest denomination of euro notes be?
a) 100 euro
b) 200 euro
c) 500 euro
6. What will the lowest denomination of cent coins be?
a) 1 cent
b) 2 cent
c) 10 cent
7. What will be the national feature on euro coins produced in Ireland?
a) Shamrock
b) The Harp and the word "Éire"
c) Map of Ireland
8. When will we see euro notes and coins in our pockets?
a) 1 January 1999
b) 1 January 2001
c) 1 January 2002
9. When are the exchange rates of national currencies fixed against the euro?
a) 1 January 1999
b) 1 January 2002
c) 1 July 2002
10. What is the euro worth?
a) £0.787564
b) £0.79
c) £1.00
11. For 3 years after the start of EMU on 1 January 1999, notes and coins will not be available. What is the period called?
a) Changeover period
b) Transitional period
c) Cashless period
d) Euro-time
12. Which of the following is true from 1 January 1999?
(note: there is more than one answer to this question)
a) Euro can be used for cash transactions
b) Euro can be used for cashless transactions
c) Bank accounts in euro will be available
d) Bank accounts in Irish pounds will continue to be available
13. Which of the following is false from 1 January 1999?
(note: there is more than one answer to this question)
a) No-one can use Irish pound notes and coins
b) Euro notes and coins are in our pockets
c) Businesses can use the euro
14. Which of the following will be true from 1 January 2002?
(note: there is more than one answer to this question)
a) Everyone will use the euro
b) All Irish pound bank accounts will be in euro
c) Only business people will use the euro
15. Which of the following will be false from 1 January 2002?
a) Irish pound notes and coins will begin to be withdrawn from circulation
b) Euro notes and coins will be in circulation
c) You can keep your bank account in Irish pounds
16. What EMU stand for?
a) European Monetary Unit
b) Economic and Monetary Unit
c) European Monetary Union
d) Economic and Monetary Union
17. Which of the following are part of EMU?
(note: there is more than one answer to this question)
a) Closer co-ordination of economic and budgetary policy
b) Single monetary policy
c) Single currency
18. What institution formulates monetary policy for the euro from 1 January 1999?
a) European Monetary Institute
b) National Central Banks
c) European Central Bank
19. Do businesses need to prepare for the euro?
a) Yes
b) No
20. Which of the following areas should businesses examine now?
(note: there is more than one answer to this question)
a) Information Technology systems
b) Marketing
c) Legal
d) Staff training
e) Finance & Accounting systems
21. Is there a Government-sponsored information campaign for business about EMU and the euro?
a) Yes
b) No
22. Is Forfás running the Government information campaign for business about EMU and the euro?
a) Yes
b) No
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