Quiz  /  Banking Awareness Class 10 MCQ Questions With Answers

  • 1. 
    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
  • Two business or investment
  • Both A & B

  • 2. 
    Which have higher interest rate: Certificates of Deposit (CD, aka time deposits) accounts or savings accounts?

  • CDs
  • savings account
  • account
  • None of these

  • 3. 
    A client has 1 million EUR and wants to put it on a savings account. What should he do?

  • place in bank and pray for it that it doesn't go bankrupt
  • place the money in more than one banks
  • place the money in more than Any banks
  • None of these

  • 4. 
    Each debit account offers a credit limit so you can have your bank account “minus”. True or false?

  • True
  • False

  • 5. 
    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
  • None of these

  • 6. 
    Suppose you had 100 dollars in a savings account and the bank adds 10%/year to the account. How much money would you have in the account after five years if you did not remove any money from the account?

  • exactly 150 dollars
  • less than 150 dollars
  • more than 150 dollars
  • None of these

  • 7. 
    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

  • 8. 
    How long does the process of opening a bank account take?

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

  • 9. 
    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
  • Both A & C

  • 10. 
    What fees do you have to consider when you open a bank account?

  • interest, commission, maintenance fee
  • opening fee, monthly fee, fee for withdrawing money
  • opening fee, monthly fee, dividend
  • Both B & C

  • 11. 
    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
  • 105 dollars plus three percent
  • 110 dollars

  • 12. 
    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
  • Both A & B
  • None of these

  • 13. 
    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.
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