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Test your basic knowledge |
Financial Literacy Basics
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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 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.
capital loss
political risk
universal default
APR - Average Percentage Rate
2. A chosen pursuit - profession - or occupation
industry risk
career
variable expenses
annual fee
3. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
debit card
Rule of 72
capital loss
portfolio
4. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
risk management
Temporary investment
spyware
5. 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.
savings account
stock market
grace period
systematic investing
6. Another term for budget
US Treasury Bills
spending plan
well-know financial magazines
Investing
7. Associated with owning stock of similar groups of businesses
state income tax
industry risk
US Treasury Bills
maturity date
8. A government sector that requires all public corporations to make annual reports available to their stockholders
Securities and Exchange Commission
put-and-take account
risk averse
diversification
9. Bonds designed for investors wanting to protect again inflation losses
Temporary investment
dollar cost average
Series I Savings Bond
compounding interest rate
10. Pooling of money from many investors to buy a large & diverse selection of securities
speculative investments
well-know financial magazines
mutual funds
industry risk
11. Debt obligations of corporations
political risk
corporate bonds
bond
credit union
12. Brokers who provided little or no information to clients
discount brokers
options
industry risk
penny stocks
13. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
well-know financial magazines
capital loss
debt
diversification
14. Debt obligations of state or local governments
maturity date
portfolio
municipal bonds
chapter 13
15. Smaller decisions that can result from a major decision.
credit score
savings
satellite decisions
non-market risk
16. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
credit union
stock market
capital gain
capital loss
17. 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.
over-the-limit fee
full-service broker
political risk
APR - Average Percentage Rate
18. 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.
dollar cost average
credit limit
inflation
spyware
19. Spreading risk among many types of investments; one way to minimize risk
put-and-take account
financial advisers
diversification
bond
20. Charles Schwab & TD Ameritrade & E*TRADE
financial pages
Series EE Savings Bond
well-known discount brokers
career
21. Wall Street Journal and Barron's
dividend
stock market
principal
well-known financial newspapers
22. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
grace period
investing risk
company risk
pay yourself first - P.Y.F.
23. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
maturity date
Series EE Savings Bond
capital gain
stock market
24. Maximum amount of credit a lender will extend to a customer.
diversification
credit limit
annual fee
time value of money
25. Uncontrollable and unpredictable events that cause an investment to lose value
Series I Savings Bond
share draft account
non-market risk
over-the-limit fee
26. The entire amount of money you owe to lenders
debt
short term goal
penny stocks
credit union
27. Debt obligations of corporations
non-market risk
credit limit
US Treasury Bonds
corporate bonds
28. A spending plan for managing money during a given period of time.
budget
bond
political risk
interest
29. Business Weekly & Forbes & Money
financial advisers
values
origination fee
well-know financial magazines
30. Fee on credit card for making charges above your credit limit.
over-the-limit fee
spyware
dividend
diversification
31. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
political risk
Series I Savings Bond
stock
deductible
32. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
dollar cost average
ATM - Automatic Teller Machine
portfolio
budget
33. 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.
state income tax
Temporary investment
strategic investing
savings account
34. The chance that an investment's value will decrease
annual report
chapter 7
well-known financial newspapers
investing risk
35. Reducing investment risk by putting money in several different types of investments.
corporate bonds
credit history
collectibles
diversification
36. 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.'
well-known discount brokers
short term goal
debit card
yield
37. Debt obligations of state or local governments
origination fee
municipal bonds
budget
debt
38. People trained to give investment advise based on your goals & age & lifestyle & etc
credit report
values
annual fee
financial advisers
39. Low-priced stocks of small companies that have no track record
interest
permanent investment
penny stocks
spyware
40. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
interest-rate risk
ATM - Automatic Teller Machine
portfolio
maturity date
41. A spending plan for managing money during a given period of time.
budget
state income tax
savings account
chapter 7
42. A chosen pursuit - profession - or occupation
annuities
career
credit
credit history
43. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
chapter 13
collectibles
Temporary investment
financial advisers
44. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
spyware
put-and-take account
deductible
portfolio
45. Conservative investing; used when you have 'excess' savings
Personal Identification Number - PIN
financial pages
initial investing
deductible
46. Expenses that are not fixed.
short term goal
well-known financial newspapers
variable expenses
Series EE Savings Bond
47. Reducing investment risk by putting money in several different types of investments.
diversification
compounding interest rate
bond
budget
48. Wall Street Journal and Barron's
dividend
bankruptcy
annuities
well-known financial newspapers
49. A form of bankruptcy that allows you to repay many of your debts over a period of time - usually no more than five years.
spyware
chapter 13
US Treasury Bills
spyware
50. The process of dealing with the chance of a potential personal or financial loss.
coverage limit
stocks
interest
risk management
Can you answer 50 questions in 15 minutes?
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