Banking

How long does the process of opening a bank account take?

• 5 minutes
• 15-25 minutes
• 2 hours
• a week

Your 10 000 HUF savings with 6% interest will be 10600 HUF next year if you don't touch it. True or false?

• Absolutely true.
• Yes, because you will not face penalties.
• No, because you have to pay tax and maintenance fees.
• No, because 0,06*10000 Ft is not 10600 Ft.

How often do you receive a bank statement about your accounts?

• once a year
• once a month, it might be electronic
• never, use your internet bank
• once in every 6 months

Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

• one business or investment
• multiple businesses or investments

Suppose over the next 10 years the prices of the things you buy double. If your income ALSO doubles, how much will you be able to buy in 10 years?

• Less
• The same
• More

What happens to the costumer’s money if the bank goes bankrupt?

• He loses it all
• It is insured by law so he gets back the whole amount
• It is insured by law up to 100 000 HUF / costumer / bank

Which have higher interest rate: Certificates of Deposit (CD, aka time deposits) accounts or savings accounts?

• CDs
• savings account

Each debit account offers a credit limit so you can have your bank account “minus”. True or false? 

• True
• False

Suppose you need to borrow 100 dollars. Which is the lower amount to pay back: 105 dollars or 100 dollars plus three percent?

• 105 dollars
• 100 dollars plus three percent

Suppose you put money in the bank for two years and the bank agrees to add 15%/year to your account. What amount will the bank give in the 2nd year?

• more
• the same