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






2. Property consisting of houses and land






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






4. US treasury security that matures from a few days to one year






5. Debt obligations of corporations






6. Expenses that are not fixed.






7. A term that describes investments on which earnings are not taxed until retirement






8. US treasury security that matures in 30 years






9. 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.






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






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






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






13. The portion of the profits paid to the shareholders of a company.






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






15. Debt obligations of corporations






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






17. Newspapers list of securities






18. The increase or decrease in the original purchase price of an investment over a period of time.






19. A unit of ownership in a corporation






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






21. A chosen pursuit - profession - or occupation






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






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






24. Reducing investment risk by putting money in several different types of investments.






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






26. Investment choices that will be held for long periods






27. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.






28. The credit union term for a checking account.






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






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






31. Investors who are afraid to make investments






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






33. 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.






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






35. The profit from an investment.






36. The entire amount of money you owe to lenders






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






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






39. US treasury security that matures in 30 years






40. 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.






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






42. 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.






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






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






45. A term that describes investments on which earnings are not taxed until retirement






46. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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