ICMA FMFQ Exam - Topic 5 Question 65 Discussion

Actual exam question for ICMA's FMFQ exam

Question #: 65
Topic #: 5

[All FMFQ Questions]

CHIPS is the payment system for which currency?

AGBP

BUSD

CEURO

DCHF

Show Suggested Answer

Suggested Answer: C

by Kristeen at Sep 08, 2024, 08:35 AM

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Cordelia

7 months ago

I thought it was for EURO, not USD!

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Antonio

7 months ago

It's been USD for ages, no doubt!

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Kara

7 months ago

Wait, are you sure it's not for GBP?

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Chaya

7 months ago

Yep, definitely USD!

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Johnetta

7 months ago

CHIPS is for USD.

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Ricarda

8 months ago

I thought CHIPS was for GBP, but now I'm second-guessing myself. I need to remember the specifics about each payment system!

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Selma

8 months ago

I keep mixing up CHIPS with TARGET2 for the Euro. I really hope it's not the Euro, but I can't recall for certain.

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Solange

8 months ago

I practiced a question similar to this last week, and I believe CHIPS stands for Clearing House Interbank Payments System, which is definitely tied to USD.

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Karl

8 months ago

I think CHIPS is related to the USD, but I'm not completely sure. I remember something about it being a major payment system in the US.

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Rodney

8 months ago

Okay, I remember learning about CHIPS in my finance class. I believe it's the payment system for the British pound, so I'll select A.

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Michael

8 months ago

The CHIPS payment system sounds familiar, but I can't recall which currency it's associated with. I'll have to make an educated guess.

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Laurel

8 months ago

Hmm, I'm not totally sure about this one. I'll have to think it through carefully before answering.

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Barb

8 months ago

I'm pretty sure CHIPS is the payment system for the US dollar, so I'll go with B.

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Christoper

9 months ago

Okay, I've got an idea. Decentralizing a procedure to prevent a complete loss at one location - that sounds like "risk diffusion" to me. I'm going to go with option A.

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Shayne

1 year ago

Wait, CHIPS is a payment system? I thought it was just a way to measure the crunchiness of my potato snacks. Color me surprised!

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Giovanna

1 year ago

C) EURO

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Dahlia

1 year ago

B) USD

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Elliot

1 year ago

A) GBP

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Ming

1 year ago

CHF, obviously. The Swiss are known for their precision, so it only makes sense that their currency would be the official tender for CHIPS.

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Barney

1 year ago

D) CHF

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Yvette

1 year ago

C) EURO

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Aleisha

1 year ago

B) USD

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Royce

1 year ago

A) GBP

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Emerson

1 year ago

I'm pretty sure it's USD.

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Gianna

1 year ago

C'mon, it's gotta be the Euro! I mean, who doesn't love a good ol' game of 'Chip and Pin' while in Europe?

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Lachelle

1 year ago

Yeah, 'Chip and Pin' is pretty popular in Europe.

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Alaine

1 year ago

I think you're right, it's definitely the Euro.

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Derick

1 year ago

Hmm, let's see... CHIPS, huh? I'm guessing it's got to be USD, since that's the currency used in the land of the free and the home of the deep-fried deliciousness.

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