10 Quiz on International Day of Family Remittances

The International Day of Family Remittances is celebrated on June 16th each year. It is a day to raise awareness of the important role that family remittances play in the lives of millions of people around the world. In this quiz, you will learn more about the history of family remittances, the impact they have on families and communities, and the challenges that they face. Take the quiz and test your knowledge about this important topic!

 1-What is the main focus of the IDFR 2023-24 campaign?

a) Promoting digital technologies to enhance financial inclusion in HICs

b) Promoting traditional banking systems in LMICs

c) Promoting digital technologies to enhance financial inclusion in LMICs

d) Promoting cryptocurrency for remittance transactions

Answer: c) Promoting digital technologies to enhance financial inclusion in LMICs

2-What is the target for cost reduction mentioned in SDG 10. c?

a) 1%

b) 2%

c) 3%

d) 4%

Answer: c) 3%

3-How often is the International Day of Family Remittances (IDFR) celebrated?

a) Monthly

b) Quarterly

c) Annually

d) Biennially

Answer: c) Annually

4-What is the purpose of the IDFR?

a) To celebrate the contributions of migrant workers

b) To promote financial inclusion in high-income countries

c) To reduce the cost of remittance transfers

d) To achieve the Sustainable Development Goals (SDGs)

Answer: d) To achieve the Sustainable Development Goals (SDGs)

5-What percentage of remittance flows go to rural areas?

a) 10%

b) 25%

c) 50%

d) 75%

Answer: c) 50%

6-What is the average cost of transferring US$200 across international boundaries to LMICs?

a) 1%

b) 3%

c) 6%

d) 9%

Answer: c) 6%

7-Which type of providers offer the best rates for remittance transfers?

a) Traditional banks

b) Mobile providers

c) Money transfer operators

d) Cryptocurrency exchanges

Answer: b) Mobile providers

8-What percentage of transactions are made through digital channels?

a) Less than 1%

b) 5%

c) 25%

d) 50%

Answer: a) Less than 1%

9-What is the main objective of the Global Compact for Safe, Orderly, and Regular Migration?

a) Promoting financial inclusion through remittances

b) Reducing the cost of remittance transfers

c) Enhancing digital technologies for remittance services

d) Ensuring safe and regulated migration

Answer: d) Ensuring safe and regulated migration

10-What is the role of governments, private sector entities, and civil society in maximizing the impact of remittances?

a) They should discourage the use of remittances

b) They should focus on reducing the number of remittance recipients

c) They should find ways to maximize the impact of remittances through actions

d) They should increase the cost of remittance transfers

Answer: c) They should find ways to maximize the impact of remittances through actions