Test your basic knowledge |

Financial Literacy Basics

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. Investors who take to take chances






2. A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly - disabled Americans - and orphaned minors.






3. People trained to give investment advise based on your goals & age & lifestyle & etc






4. The credit union term for a savings account.






5. Investors who are afraid to make investments






6. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






7. The amount a corporation borrowed in a bond situation






8. Fee on credit card for making charges above your credit limit.






9. Another term for budget






10. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.






11. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.






12. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






13. The chance that an investment's value will decrease






14. Losses in an investment as a result of the business cycle






15. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






16. Associated with owning stock of similar groups of businesses






17. The belief - qualities - or standards that you consider important or desirable.






18. Earning interest on interest.






19. A technique used for estimating the number of years required to double your money at a given rate






20. The amount of money someone is willing to loan you.






21. Summary of a corporation's financial condition






22. Amount of money that is set aside for future purchases






23. The increase or decrease in the original purchase price of an investment over a period of time.






24. A clause included in many credit card company agreements that allows a credit card company to increase your interest rate if you make just one late payment.






25. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






26. The credit union term for a checking account.






27. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






28. A formal contract to repay borrowed money with interest at fixed intervals






29. Spreading risk among many types of investments; one way to minimize risk






30. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.






31. Smaller decisions that can result from a major decision.






32. Coins & art & memorabilia or other items that are popular from time to time






33. Maximum amount of credit a lender will extend to a customer.






34. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






35. The process of dealing with the chance of a potential personal or financial loss.






36. The unique passcode number you use to get access to your savings and/or checking account






37. The entire amount of money you owe to lenders






38. Companies that provide extensive financial data to clients






39. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






40. The maximum amount an insurance company will pay if you file a claim.






41. Newspapers list of securities






42. US treasury security that matures from a few days to one year






43. Investment choices that will be re-evaluated within a year or less






44. Newspapers list of securities






45. Contacts to buy and sell commodities or stocks for a specific price on a specific date






46. Investing with a series of regular payments; usually associated with life insurance companies






47. The chance that an investment's value will decrease






48. Wall Street Journal and Barron's






49. A form of bankruptcy that allows you to erase most of your debt.






50. Expenses that are not fixed.