Foreign Exchange is one of 10 topics in the Grade 11 Tourism CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. For a South African tourist, which currency is their "local currency"?
The South African rand
The US dollar
The Euro
Whichever currency they are currently holding
Answer: The South African rand — Local currency is the official money used within a tourist's own country; for a South African tourist, this is the South African rand.
Easy
2. What is an exchange rate?
The value of one currency expressed in terms of another currency
A fixed fee charged by all banks worldwide
The total amount of money a tourist plans to spend
A type of tourism marketing budget cost
Answer: The value of one currency expressed in terms of another currency — An exchange rate shows the value of one currency in terms of another, i.e. how much of one currency is needed to buy one unit of another.
Medium
3. Give the standardised three-letter currency code for the South African rand.
Answer: ZAR — ZAR is the standardised three-letter currency code for the South African rand.
