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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
Subjects
:
literacy
,
personal-finance
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Earning interest on interest.
social security tax
compounding interest rate
savings
stocks
2. Maximum amount of credit a lender will extend to a customer.
credit limit
over-the-limit fee
capital gain
deductible
3. Management of investment alternatives to maximize the growth of your portfolio
strategic investing
options
stock market
spyware
4. The credit union term for a savings account.
credit limit
credit history
budget
share account
5. Amount of money that is set aside for future purchases
systematic investing
Securities and Exchange Commission
compounding interest rate
savings
6. Charles Schwab & TD Ameritrade & E*TRADE
market risk
delayed gratification
well-known discount brokers
values
7. A legal process to get out of debt when you can no longer make all your required payments.
financial advisers
bankruptcy
spyware
maturity date
8. Investment choices that will be re-evaluated within a year or less
Temporary investment
risk
strategic investing
Series EE Savings Bond
9. The amount of money someone is willing to loan you.
portfolio
dollar cost average
coverage limit
principal
10. A general and progressive increase in prices
Rule of 72
inflation
budget
investor services
11. A certificate documenting the shareholder's ownership in the corporation
stock
industry risk
mutual fund
checking account
12. A spending plan for managing money during a given period of time.
well-known financial newspapers
US Treasury Bonds
interest
budget
13. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
chapter 13
delayed gratification
share account
14. Another term for budget
over-the-limit fee
checking account
spending plan
credit history
15. People trained to give investment advise based on your goals & age & lifestyle & etc
Series EE Savings Bond
budget
financial advisers
origination fee
16. An amount that credit card companies can charge for the use of a credit card.
annuities
annual fee
debt
principal
17. Maximum amount of credit a lender will extend to a customer.
savings
credit limit
well-known investor services
chapter 13
18. Investing with a series of regular payments; usually associated with life insurance companies
corporate bonds
over-the-limit fee
annuities
spending plan
19. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
chapter 13
yield
financial advisers
values
20. Associated with owning stock of similar groups of businesses
principal
industry risk
investing risk
origination fee
21. Collection of investments
portfolio
annual report
well-known financial newspapers
corporate bonds
22. Actions that the government might take that would reduce the value of an investment
political risk
diversification
risk taker
satellite decisions
23. The probability that injury - damage - or loss will occur.
real estate
risk
full-service broker
values
24. A technique used for estimating the number of years required to double your money at a given rate
investor services
Rule of 72
investing risk
ATM - Automatic Teller Machine
25. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.
municipal bonds
interest-rate risk
Investing
phishing
26. A general and progressive increase in prices
credit report
ATM - Automatic Teller Machine
inflation
debit card
27. The place where stocks are bought and sold.
Investing
stock market
well-known investor services
annuities
28. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
non-market risk
well-known investor services
stock
credit union
29. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
budget
APR - Average Percentage Rate
US Treasury Bonds
bank
30. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
Personal Identification Number - PIN
bank
ATM - Automatic Teller Machine
options
31. A government sector that requires all public corporations to make annual reports available to their stockholders
principal
chapter 7
Securities and Exchange Commission
over-the-limit fee
32. The amount a corporation pays at a fixed amount when repaying a bond
portfolio
interest
share account
market risk
33. The belief - qualities - or standards that you consider important or desirable.
futures
opportunity cost
values
chapter 7
34. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
credit score
satellite decisions
ATM - Automatic Teller Machine
share account
35. Fee on credit card for making charges above your credit limit.
full-service broker
US Treasury Notes
over-the-limit fee
collectibles
36. A goal to be achieved within the next three months.
Rule of 72
risk taker
short term goal
periodic or occasional expenses
37. The willingness to give up something you want now in return for something better in the future.
satellite decisions
interest-rate risk
well-know financial magazines
delayed gratification
38. A payroll deduction collected by employers by law and sent to the state government to support state services.
state income tax
bankruptcy
stocks
real estate
39. The entire amount of money you owe to lenders
Temporary investment
dividend
diversification
debt
40. Regular and planned investments
over-the-limit fee
US Treasury Bills
systematic investing
interest
41. Things that add comfort and pleasure to your life but you can live without if you need to.
permanent investment
investing risk
wants
APR - Average Percentage Rate
42. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
universal default
compounding interest rate
Securities and Exchange Commission
credit
43. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
grace period
universal default
origination fee
share account
44. Summary of a corporation's financial condition
annual report
strategic investing
risk averse
values
45. Smaller decisions that can result from a major decision.
non-market risk
share account
satellite decisions
wants
46. The amount a corporation pays at a fixed amount when repaying a bond
interest
credit union
full-service broker
credit history
47. A form of bankruptcy that allows you to erase most of your debt.
grace period
social security tax
chapter 7
interest
48. Reducing investment risk by putting money in several different types of investments.
chapter 7
variable expenses
diversification
compounding interest rate
49. Standard and Poor's and Moody's
full-service broker
well-known investor services
principal
risk
50. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
capital gain
deductible
risk management
annual report