Junior Auditor Past Paper 08-07-2023

What was the initial purpose of establishing the IMF?

A. To promote the use of international currencies for trade

B. To avoid a repeat of the Great Depression and to ensure a stable global monetary system

C. To regulate the oil markets

D. To establish international environmental policies

What is the IMF’s role in currency exchange rates?

A. To set the global exchange rates for all currencies

B. To help maintain stable exchange rates through policy advice and surveillance

C. To regulate the foreign exchange markets directly

D. To create new global currencies

What is the significance of the IMF’s quota system?

A. It determines the level of financial assistance provided by the IMF

B. It is the system through which countries contribute financially and determine their voting power

C. It is used to set global trade tariffs

D. It regulates the interest rates of member countries’ banks