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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. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
mutual fund
Investing
bank
time value of money
2. The unique passcode number you use to get access to your savings and/or checking account
APR - Average Percentage Rate
yield
periodic or occasional expenses
Personal Identification Number - PIN
3. A chosen pursuit - profession - or occupation
tax deferred
chapter 7
career
debit card
4. 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.
chapter 7
share draft account
market risk
mutual fund
5. Movement of money you receive and the money you spend
cash flow
APR - Average Percentage Rate
debt
principal
6. The chance that inflation will rise faster than the rate of return on an investment
interest-rate risk
bond
stock
annual fee
7. Another term for budget
spending plan
delayed gratification
capital loss
US Treasury Bills
8. The place where stocks are bought and sold.
Investing
APR - Average Percentage Rate
stock market
bank
9. Fee on credit card for making charges above your credit limit.
inflation
over-the-limit fee
share account
interest-rate risk
10. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
discount brokers
annual fee
credit score
annuities
11. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
inflation
opportunity cost
annuities
options
12. The portion of the profits paid to the shareholders of a company.
share draft account
dividend
annuities
investing risk
13. Wall Street Journal and Barron's
well-known financial newspapers
maturity date
strategic investing
spyware
14. The profit from an investment.
deductible
pay yourself first - P.Y.F.
yield
interest-rate risk
15. The willingness to give up something you want now in return for something better in the future.
social security tax
delayed gratification
diversification
savings
16. Charles Schwab & TD Ameritrade & E*TRADE
cash flow
well-known discount brokers
bank
full-service broker
17. Associated with owning stock of similar groups of businesses
capital loss
industry risk
strategic investing
US Treasury Notes
18. Bonds designed for investors wanting to protect again inflation losses
financial pages
Series I Savings Bond
coverage limit
delayed gratification
19. Property consisting of houses and land
penny stocks
full-service broker
well-know financial magazines
real estate
20. The value of What is given up when you choose one option over another.
debit card
debt
Series I Savings Bond
opportunity cost
21. 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.
yield
tax deferred
Series EE Savings Bond
savings account
22. Uncontrollable and unpredictable events that cause an investment to lose value
non-market risk
bond
financial pages
bankruptcy
23. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
risk averse
time value of money
municipal bonds
universal default
24. Debt obligations of state or local governments
interest-rate risk
dividend
risk averse
municipal bonds
25. Conservative investing; used when you have 'excess' savings
debt
Series I Savings Bond
initial investing
US Treasury Notes
26. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
company risk
coverage limit
credit union
investor services
27. Investment choices that will be held for long periods
discount brokers
spending plan
company risk
permanent investment
28. A general and progressive increase in prices
career
inflation
debit card
real estate
29. Investment choices that will be held for long periods
systematic investing
permanent investment
share draft account
cash flow
30. The amount of money someone is willing to loan you.
strategic investing
stock
credit union
principal
31. Merrill Lynch & Fidelity Investments & American Express
well-know full-service brokers
mutual funds
credit
annuities
32. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
principal
state income tax
risk taker
credit union
33. People trained to give investment advise based on your goals & age & lifestyle & etc
financial advisers
ATM - Automatic Teller Machine
deductible
debit card
34. 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.
industry risk
social security tax
delayed gratification
Investing
35. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
mutual funds
Series EE Savings Bond
debt
origination fee
36. Earning interest on interest.
credit score
compounding interest rate
checking account
checking account
37. Pooling of money from many investors to buy a large & diverse selection of securities
opportunity cost
credit history
mutual funds
wants
38. Summary of a corporation's financial condition
short term goal
annual report
Personal Identification Number - PIN
rate of return
39. A detailed record of your personal credit and financial transactions.
credit report
portfolio
put-and-take account
short term goal
40. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
over-the-limit fee
time value of money
credit report
US Treasury Notes
41. Management of investment alternatives to maximize the growth of your portfolio
municipal bonds
strategic investing
universal default
savings
42. Business Weekly & Forbes & Money
Rule of 72
budget
budget
well-know financial magazines
43. The entire amount of money you owe to lenders
debt
APR - Average Percentage Rate
risk
well-know financial magazines
44. A legal process to get out of debt when you can no longer make all your required payments.
options
bankruptcy
annuities
diversification
45. 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.
financial pages
dividend
APR - Average Percentage Rate
short term goal
46. Debt obligations of state or local governments
dollar cost average
municipal bonds
stock market
coverage limit
47. Debt obligations of corporations
corporate bonds
universal default
collectibles
opportunity cost
48. A goal to be achieved within the next three months.
bank
short term goal
credit history
risk management
49. The credit union term for a savings account.
share account
annual fee
delayed gratification
chapter 13
50. Smaller decisions that can result from a major decision.
pay yourself first - P.Y.F.
credit history
satellite decisions
universal default