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. Investment choices that will be held for long periods






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. A chosen pursuit - profession - or occupation






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






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






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






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






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






9. US treasury security that matures in 2 & 5 & or 10 years






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






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






12. Companies that provide extensive financial data to clients






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






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






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






16. The place where stocks are bought and sold.






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






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






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






20. Investors who take to take chances






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






22. Collection of investments






23. The credit union term for a checking account.






24. Wall Street Journal and Barron's






25. The amount a corporation borrowed in a bond situation






26. Bold and high-risk investments






27. The credit union term for a savings account.






28. Charles Schwab & TD Ameritrade & E*TRADE






29. 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.






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






31. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






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






33. A general and progressive increase in prices






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






35. A summary of a person's borrowing and repayment history.






36. Business Weekly & Forbes & Money






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






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






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






40. Charles Schwab & TD Ameritrade & E*TRADE






41. 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.'






42. A chosen pursuit - profession - or occupation






43. Companies that provide extensive financial data to clients






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






45. Another term for budget






46. Debt obligations of corporations






47. The amount a corporation pays at a fixed amount when repaying a bond






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






49. The total amount of what it costs you to use credit in a given year. It is expressed as a percentage of the amount borrowed.






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.