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






2. Business Weekly & Forbes & Money






3. The amount of money someone is willing to loan you.






4. Another term for budget






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






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






7. Debt obligations of state or local governments






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






9. The process of dealing with the chance of a potential personal or financial loss.






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






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






12. 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.






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






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






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






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






17. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






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






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






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






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






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






26. Summary of a corporation's financial condition






27. Investors who are afraid to make investments






28. A goal to be achieved within the next three months.






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






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






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






32. Debt obligations of corporations






33. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.






34. A legal process to get out of debt when you can no longer make all your required payments.






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






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






37. Expenses that aren't paid every month and can be either fixed or variable.






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






39. A legal process to get out of debt when you can no longer make all your required payments.






40. A formal contract to repay borrowed money with interest at fixed intervals






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






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






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






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






45. 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.






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






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






48. Standard and Poor's and Moody's






49. A detailed record of your personal credit and financial transactions.






50. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.







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Can you answer 50 questions in 15 minutes?


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