Are You Smarter Than A Bank Teller?

3 Questions

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Bank Quizzes & Trivia

How well do you know banking and finance? Do you know the basics of home loans? Do you know your banking rights?


Questions and Answers
  • 1. 
    • A. 

      It depends upon the deposit that I have saved.

    • B. 

      It depends upon how much I earn.

    • C. 

      The maximum that my income and other commitments will allow.

    • D. 

      It depends upon the home loan affordability formula applicable to each bank.

    • E. 

      All of of the above.

  • 2. 
    What is a reasonable establishment fee to pay for a home loan?
    • A. 

      $600

    • B. 

      $660 incl GST.

    • C. 

      $500

    • D. 

      It depends upon the loan interest rate, product and features.

    • E. 

      Never pay an establishment fee.

  • 3. 
    What is the benefit of Mortgage Insurance?
    • A. 

      The insurer will make the payments on the loan should the borrower get sick or incapacitated.

    • B. 

      It allows you to borrow in excess of the standard lending guidelines of the banks. Eg 80% of the purchase price..

    • C. 

      It prevents the bank from selling my house should I not be able to meet my repayments.

    • D. 

      It gives peace of mind to the borrower.

    • E. 

      All of the above.