[English] European Money Quiz - Brussels finals, 2018

Question 1

You are saving €500 with an interest rate of 5% per year. When will your money be doubled?

Accepted Answer

At 15 years

Question 2

You get a letter from your bank asking you to come to the bank to ID yourself, what do you do?

Accepted Answer

It is safe. Go to the bank

Question 3

If you save money and you get interest, what happens with your money over time?

Accepted Answer

It grows more every year

Question 4

Which of the following is NOT a debt?

Accepted Answer

A stock

Question 5

You reduce the risk of investing in the stock market by buying a wide range of stocks/shares

Accepted Answer

True

Question 6

Buying a single company’s stock usually provides a safer return than a stock mutual fund.

Accepted Answer

False

Question 7

An investment with a high return is likely to be high risk

Accepted Answer

True

Question 8

You're called and the person says you have Windows issues that they will solve. What do you do?

Accepted Answer

Hang up the phone immediately

Question 9

If you are offered free money on the internet, what do you do?

Accepted Answer

Don’t believe the offer. Free money does not exist

Question 10

Which debt should you try to pay back first?

Accepted Answer

The debt with the highest interest rate

Question 11

(The question will appear on a picture) When will your debt double?

Accepted Answer

Within 4 years

Question 12

What happens when there is inflation?

Accepted Answer

The value of money decreases, The cost of living increases

Question 13

You are saving €120 with an interest rate of 2% per year. After 3 years, how much do you have?

Accepted Answer

More than €127

Question 14

(Read the email on the following picture) David gets the following message: What should he do?

Accepted Answer

Do not click, call your bank

Question 15

Someone on Instagram asks you in a message to open a bank account for them, what do you do?

Accepted Answer

Block the account and report it to Instagram, Report it to the police

Question 16

In 2008, 300 billion Zimbabwe dollars equaled approximately €1. What happened?

Accepted Answer

HyperINflation

Question 17

You get 1% interest on your savings account, but inflation is 2%. What is true after 1 year?

Accepted Answer

I can buy less than today

Questions 17