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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. US treasury security that matures in 30 years






2. A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called 'check card.'






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






4. A detailed record of your personal credit and financial transactions.






5. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






6. A goal to be achieved within the next three months.






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






8. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.






9. A payroll deduction collected by employers by law and sent to the state government to support state services.






10. Uncontrollable and unpredictable events that cause an investment to lose value






11. A bank account against which the depositor can draw checks payable on demand.






12. The place where stocks are bought and sold.






13. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






14. The date on which the borrowed money must be repaid






15. The probability that injury - damage - or loss will occur.






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






17. The setting aside of money for future use or other investments






18. The use of long-term savings to earn a financial return






19. Brokers who provide clients with analysis and opinions






20. Summary of a corporation's financial condition






21. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.






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






23. 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.






24. Management of investment alternatives to maximize the growth of your portfolio






25. Property consisting of houses and land






26. Investors who are afraid to make investments






27. Business Weekly & Forbes & Money






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






29. An investment security that is actually a diversified portfolio of equities - bonds or other securities. Investors purchase shares and can sell them at any time.






30. A government sector that requires all public corporations to make annual reports available to their stockholders






31. 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.






32. A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called 'check card.'






33. Merrill Lynch & Fidelity Investments & American Express






34. Things that add comfort and pleasure to your life but you can live without if you need to.






35. Newspapers list of securities






36. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






37. A legal process to get out of debt when you can no longer make all your required payments.






38. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






39. Collection of investments






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






41. A general and progressive increase in prices






42. A unit of ownership in a corporation






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






44. Low-priced stocks of small companies that have no track record






45. Another term for budget






46. The setting aside of money for future use or other investments






47. Expenses that are not fixed.






48. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






49. The willingness to give up something you want now in return for something better in the future.






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






Can you answer 50 questions in 15 minutes?



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