Skills questionnaire

Bank Account, Foreign Exchange

1. What do we mean by Bank Account?
Index funds, passively managed and traded on the stock exchange.
Banking product that allows you to take advantage of services such as securities deposits and payment services.
Debt securities issued by companies to finance themselves.

2. What do we mean by "Foreign Exchanges"?
Index funds, passively managed and traded on the stock exchange.
Debt securities issued by companies to finance themselves.
The exchange ratio between currencies of different countries.

3. What do we mean by IBAN Code?
A bank code made up of letters and numbers that uniquely identify the account also internationally.
A code to use the credit card.
A security code to use internet banking.

4. What do we mean by "current account credit"?
The reputational risk of the client as a good creditor.
The sum (Credit) that the bank can make available to the customer beyond the available balance.
Entrust the payment of bills to the bank management.

5. What are the main costs of a bank account?
None. Bank accounts are offered free of charge by banks.
Fixed management costs, such as annual fees, payment card fees and fees for use of home banking.
Fixed costs of managing the bank account and / or securities deposit, such as annual fees, payment card fees and fees for use of home banking and variable costs such as commissions, interest and settlement costs.

6. What is the difference between credit cards and debit cards?
The credit card allows access to a credit line, while the availability of the debit card is limited to the amount deposited in the current account.
The credit card has a maximum daily withdrawal limit, while there is no such limit for the debit card.
The credit card allows you to access several accounts simultaneously, while the debit card is linked to a single current account.

7. What do we mean by spot FX?
Prices for transactions in which the exchange of currencies takes place at the standard settlement of two days.
Prices for transactions in which the exchange takes place on a specific date.
Tools that allow you to hedge currency risk more effectively.

8. What does forward FX entail?
Execution of currency exchange on a deferred date but at pre-agreed prices.
Hedging exchange rate risk with more flexible instruments.
The appreciation of your currency (or other currency) against a third currency.

9. What is a Currency SWAP contract?
The exchange of the appreciation or depreciation of one currency against the value of another currency.
The ability to exchange currencies in an unregulated market (OTC).
The exchange of future cash flows calculated on equivalent amounts on agreed dates in a different currency.

10. What are the components of a Currency SWAP contract?
Spot Transaction and Forward Transaction.
Exchange rate derivatives and transaction price on the OTC market.
Others.

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