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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. Conservative investing; used when you have 'excess' savings






2. Pooling of money from many investors to buy a large & diverse selection of securities






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






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






5. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






9. A spending plan for managing money during a given period of time.






10. The entire amount of money you owe to lenders






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






12. A bad side effect of free downloads that may be used to send you pop-up ads - redirect your computer to unwanted Web sites - monitor your Internet surfing - or record your keystrokes in an effort to steal your identity.






13. The chance that inflation will rise faster than the rate of return on an investment






14. Regular and planned investments






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






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






17. Wall Street Journal and Barron's






18. Associated with owning stock of similar groups of businesses






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






20. 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.






21. Earning interest on interest.






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






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






24. 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.






25. 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.






26. Movement of money you receive and the money you spend






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






28. A chosen pursuit - profession - or occupation






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






30. Newspapers list of securities






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






32. Actions that the government might take that would reduce the value of an investment






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






34. Pooling of money from many investors to buy a large & diverse selection of securities






35. The amount a corporation borrowed in a bond situation






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






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






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






39. Investors who take to take chances






40. Collection of investments






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






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






43. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.






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






45. The value of What is given up when you choose one option over another.






46. Bold and high-risk investments






47. A chosen pursuit - profession - or occupation






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






49. The entire amount of money you owe to lenders






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






Can you answer 50 questions in 15 minutes?



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