Answer Key

 

  Question 2: A.
        A floating currency is a currency that a country's central bank does not interfere with in terms of its
        value in the global market. Prior to the 1997 crisis, the Thai Baht was pegged to the US dollar at
        25 Baht/$ US 1. At the outbreak of the financial crisis in that year, the Bank of Thailand stopped its
        interference in the currency market and allowed the Thai Baht to float in a uncontrolled range of
        values. In other words, the Bank of Thailand unpegged the Thai Baht, a policy decision which
        afterwards devalued the country's currency. For information on the current exchange rate,
        click here for the most accurate and up-to-date information.

 Question 3: A.
           Bangkok standard time is 11 hours ahead of the US Eastern standard time from late Fall into early
         Spring. Once daylight saving time ends, the two time zones are 12 hours apart. For more
         information, click here.

  Question 4: B.
          The Suvarnabumi Airport is an international airport serving Bangkok, Thailand. After decades of
        construction, the airport was open for limited services on September 15, 2006 and finally for all
        commercial flights on September 28. The airport, which is 25 km from downtown Bangkok,
        received its name from His Majesty the King Bhumibhol Adulayadej (Rama IX). Click here for more
        information.

 Question 5: B.
         The most recent and serious economic crisis in Thailand was the financial crisis of 1997. The crisis
         started with the Bank of Thailand's decision to unpeg the Thai Baht, which was previously a fixed
         currency. The culprit in this financial meltdown was the corrupt debt and loan management in
         private banking institutions. The crisis had a severe impact, particularly on Thailand's
         macroeconomic structure. The Thai government had to turn to the IMF (International Monetary
         Fund) for a financial assistance package, which emphasized the practice of good governance in
         both public and private sector economic activities. 

  Question 6: B.
        The Bank of Thailand serves as a politically independent regulator of Thailand's financial sector. For
        information about the Bank of Thailand, click here.

 Question 7: B.
        Thaksin Shinawatra, a business-tycoon-turned-politician, was the 31st prime minister of Thailand.
        He won two landslide democratic elections. As prime minister, Thaksin launched many controversial
        policies, including the major bureaucratic reform of 2002, populist economic policies, war on drugs,
        and war on poverty. Thaksin's political fortune ended with the September 2006 military coup d'etat
        that replaced his government with a bureaucrat-dominated one. In 2008, he and his wife fled to
        England after her conviction for income tax evasion.

  Question 8: B.
        The current Thai government is a constitutional monarchy with the King as head of state. The
        country's 2007 constitution breaks down the central government into three separate entities: the
        executive branch led by a democratically elected prime minister, the legislative branch that consists
        of the House of Representatives and the Senate, and the judiciary with three court systems (i.e.,
        the constitutional court, the administrative court, and the court of justice).

 Question 9: C.
         Unlike the United States, the major source of tax revenue in Thailand is the value-added tax or
         VAT. VAT is levied on the added value of a commodity that results from each exchange. It is
         indifferent to the number of passages between the producer and final consumer. In contrast to the
         general sales tax, sellers bear more tax incidence in the VAT system than final consumers.

  Question 10: B.
       Approximately 95% of the Thai population are Theravada Buddhists and the other 5% are Muslims,
       the majority of which are concentrated in the 4 southernmost provinces. In Thailand, there is no
       clear difference between Theravada Buddhism, Brahminism, Mahayana Buddhism, and local folk
       beliefs. There is no constitutional clause that establishes a state religion. And due to flexible social
       norms, the majority of Thais can freely worship even at holy places of religions other than their
       own.

 Question 11: C.
        Refer to the explanation for Question 10.

 Question 12: B.
        Both conversational Thai and Lao are in the Tai language family. People in Northeastern Thailand
        can easily converse with people from Laos. In fact, the Northeast dialect and the Lao language
        share the same origin. Nowadays, the Northeastern Thai dialect has been influenced by the Central
        Thai dialect due to rapid development in communications between the region and Bangkok.  For
        more information on the Lao language, click here.

 Question 13: C.
         For more details on the URR regulation, click here. 

  Question 14: C.
         Before your departure for Thailand, you should contact the Thai Embassy in Washington D.C. or
         the U.S. State Department for visa information. Click here for the U.S. State Department's
         information section on Thailand is. Look for "entry/exit requirements."

 Question 15: C.
         The House of Chakri holds special social and legal status in Thailand. Legally and constitutionally,
         no defamatory comment or criticism must be publicly directed at the royal family. Their images
         and royal seals must also be treated with respect. Click here for more information.
 

  Question 16: C.
          This is a very important rock of living peacefully and successfully in Thailand: Do not get involved
          in the narcotics trade. For information on what constitutes narcotics in Thailand, click here for
          more information.
 Question 17: B.
          For complete information on the weather in Thailand, click here.

  Question 18: A.
         Another important rock of survival in Thailand is visa extension. As a rule of thumb, do not use
         any private services regardless of how credible they are. When in doubt, contact the nearest U.S.
         consulate or the U.S. Embassy in the Bangkok area.

  Question 19: C.
         The third rock of survival in Thailand is health-related. Click here for how to stay healthy during
         your trip in Thailand.

  Question 20: A.
          Another important rock of survival in Thailand is visa extension. As a rule of thumb, do not use
          any private services regardless of how credible they are. When in doubt, contact the nearest U.S.
          consulate or the U.S. Embassy in the Bangkok area.

  Question 21: C.
         For information on credit card use in Thailand, click here.

  Question 22: C.
         The Thai Embassy's address is 1024 Washington Avenue N.W., Washington D.C. 20007. For more
         information, click here.

  Question 23: C.
         For information on Thailand's national carrier (Thai Airways International), click here.

 Question 24: B.
         The first American diplomats set foot on Siam's shore in 1833 during King Rama III's reign.

  Question 25: B.
         Cellular telephones are cheap and accessible in Thailand. Travelers can even purchase cell phone
         SIM cards at convenience stores.