Based on the answers you didn't get right, here are some recommended links to help fill in your current knowledge gaps.
For Question #1 Read: What is Forex? How does it work? Forex is a global, decentralized market that allows you to trade two currencies against each other. If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
For Question #2 Read: What is Forex? How does it work? The foreign exchange market, which is usually known as “forex” or “FX,” is the largest financial market in the world.
For Question #3 Read: What is Forex? How does it work? The foreign exchange market does $6.6 Trillion of trading volume each day! This is GINORMOUS compared to the $22.4 billion trading volume of NYSE each day.
For Question #4 Read: What is traded in Forex? Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.
For Question #5 Read: What is traded in Forex? Currency pairs that don’t contain the U.S. dollar (USD) are known as cross-currency pairs or simply as the “crosses.” Major crosses are also known as “minors.” The most actively traded crosses are derived from the three major non-USD currencies: EUR, JPY, and GBP.
For Question #6 Read: What is traded in Forex? The U.S. Dollar is also called greenbacks, bones, benjis, benjamins, cheddar,paper, loot, scrilla, cheese, bread, moolah, dead presidents, and cash money.
For Question #7 Read:Forex Market Size and Liquidity The forex market is considered an over-the-counter (OTC) market due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
For Question #8 Read:Buying and Selling Currency Pairs Exotic currency pairs consist of one major currency and one currency from an emerging market. A few examples are USD/SGD and USD/BRL.
For Question #10 Read:The Different Ways to Trade Forex The Chicago Mercantile Exchange (CME) (often called “the Chicago Merc,” or “the Merc”) is an American Financial and commodity derivative exchange based in Chicago.
For Question #11 Read:Forex Market Size and Liquidity Other reasons why the USD plays a central role in the forex market are: The US economy is the largest economy in the world. The USD is the reserve currency of the world.
For Question #12 Read:Forex Market Size and Liquidity The dollar is the most traded currency, taking up 84.9% of all transactions. The euro’s share is second at 39.1% while that of the yen is the third at 19.0%.
For Question #13 Read:Forex Market Size and Liquidity One important thing to note about the forex market is that while commercial and financial transactions are part of the trading volume, most currency trading is indeed based on speculation.
For Question #14 Read:The Different Ways to Trade Forex A currency future is a contract that details the price at which a currency could be bought or sold, and sets a specific date for the exchange.
For Question #15 Read:The Different Ways to Trade Forex An “option” is a financial instrument that gives the buyer the right or the option, but not the obligation, to buy or sell an asset at a specified price on the option’s expiration date.