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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. Conservative investing; used when you have 'excess' savings
capital loss
initial investing
state income tax
risk management
2. Pooling of money from many investors to buy a large & diverse selection of securities
mutual funds
Rule of 72
full-service broker
credit union
3. A form of bankruptcy that allows you to erase most of your debt.
chapter 7
credit limit
mutual fund
ATM - Automatic Teller Machine
4. People trained to give investment advise based on your goals & age & lifestyle & etc
financial advisers
portfolio
well-known discount brokers
rate of return
5. Charles Schwab & TD Ameritrade & E*TRADE
social security tax
ATM - Automatic Teller Machine
well-known discount brokers
strategic investing
6. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
portfolio
corporate bonds
options
deductible
7. A form of bankruptcy that allows you to erase most of your debt.
compounding interest rate
Rule of 72
chapter 7
Rule of 72
8. Fee on credit card for making charges above your credit limit.
penny stocks
over-the-limit fee
well-known financial newspapers
well-know financial magazines
9. A spending plan for managing money during a given period of time.
savings account
credit limit
budget
Rule of 72
10. The entire amount of money you owe to lenders
debt
cash flow
stock market
pay yourself first - P.Y.F.
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.
deductible
risk taker
career
stock market
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.
phishing
market risk
spyware
delayed gratification
13. The chance that inflation will rise faster than the rate of return on an investment
career
deductible
spyware
interest-rate risk
14. Regular and planned investments
diversification
budget
systematic investing
inflation
15. Smaller decisions that can result from a major decision.
satellite decisions
non-market risk
spending plan
rate of return
16. Amount of money that is set aside for future purchases
savings
industry risk
share account
credit score
17. Wall Street Journal and Barron's
well-known financial newspapers
systematic investing
debt
credit history
18. Associated with owning stock of similar groups of businesses
US Treasury Bonds
industry risk
options
dividend
19. The willingness to give up something you want now in return for something better in the future.
municipal bonds
financial advisers
delayed gratification
social security tax
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.
universal default
social security tax
savings
corporate bonds
21. Earning interest on interest.
share account
compounding interest rate
municipal bonds
Series I Savings Bond
22. The chance that an investment's value will decrease
investing risk
credit report
budget
variable expenses
23. Losses in an investment as a result of the business cycle
market risk
over-the-limit fee
diversification
career
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.
coverage limit
checking account
savings account
grace period
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.
compounding interest rate
annual fee
cash flow
savings account
26. Movement of money you receive and the money you spend
futures
cash flow
bankruptcy
futures
27. A technique used for estimating the number of years required to double your money at a given rate
grace period
Rule of 72
interest
tax deferred
28. A chosen pursuit - profession - or occupation
credit history
career
budget
checking account
29. The maximum amount an insurance company will pay if you file a claim.
penny stocks
credit
coverage limit
collectibles
30. Newspapers list of securities
financial advisers
risk management
credit limit
financial pages
31. The setting aside of money for future use or other investments
pay yourself first - P.Y.F.
compounding interest rate
credit score
maturity date
32. Actions that the government might take that would reduce the value of an investment
political risk
futures
mutual funds
real estate
33. Low-priced stocks of small companies that have no track record
deductible
penny stocks
wants
corporate bonds
34. Pooling of money from many investors to buy a large & diverse selection of securities
put-and-take account
financial advisers
political risk
mutual funds
35. The amount a corporation borrowed in a bond situation
annual fee
satellite decisions
corporate bonds
principal
36. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
principal
rate of return
capital gain
bank
37. Spreading risk among many types of investments; one way to minimize risk
diversification
investing risk
Series I Savings Bond
political risk
38. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
mutual fund
US Treasury Notes
credit union
Temporary investment
39. Investors who take to take chances
risk taker
stock
well-known investor services
compounding interest rate
40. Collection of investments
phishing
investor services
portfolio
financial advisers
41. Smaller decisions that can result from a major decision.
chapter 7
satellite decisions
checking account
put-and-take account
42. Investing with a series of regular payments; usually associated with life insurance companies
annuities
periodic or occasional expenses
stock
put-and-take account
43. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
Rule of 72
pay yourself first - P.Y.F.
dollar cost average
well-known discount brokers
44. The maximum amount an insurance company will pay if you file a claim.
risk taker
dividend
collectibles
coverage limit
45. The value of What is given up when you choose one option over another.
opportunity cost
diversification
periodic or occasional expenses
credit limit
46. Bold and high-risk investments
mutual fund
speculative investments
tax deferred
chapter 7
47. A chosen pursuit - profession - or occupation
career
tax deferred
well-known financial newspapers
APR - Average Percentage Rate
48. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
capital gain
credit report
maturity date
chapter 7
49. The entire amount of money you owe to lenders
opportunity cost
credit score
cash flow
debt
50. Contacts to buy and sell commodities or stocks for a specific price on a specific date
coverage limit
capital loss
futures
inflation
Can you answer 50 questions in 15 minutes?
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