A  queue manager is that part of an MQSeries product that provides the messaging and queuing services to application programs, through the Message Queue Interface (MQI) program calls. 

It controls access to queues and serves as transaction (sync point) coordinator for all queue operations. You can read Part-1 tutorial here.

Dynamic Queues

• Dynamic Queue- Such a queue is defined “on the fly” when the application needs it.
• Dynamic queues may be retained by the queue manager or automatically deleted when the application program ends.
• Dynamic queues can be temporary queues that do not survive queue manager restarts. Permanent queues that do survive queue manager restarts.

Synchronous and Asynchronous Messaging:

1. In synchronous messaging sending application waits for the reply before it resumes.
2. No wait is the rule in the case of Asynchronous messaging.

Read more

• MQSeries Tutorial for Mainframe Programmers-Part-2