Test your basic knowledge |

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 date on which the borrowed money must be repaid






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






3. Expenses that are not fixed.






4. The credit union term for a savings account.






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






6. Investors who take to take chances






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






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






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






10. Collection of investments






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






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






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






14. A payroll deduction collected by employers by law and sent to the state government to support state services.






15. Summary of a corporation's financial condition






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






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






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






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






20. Movement of money you receive and the money you spend






21. A form of bankruptcy that allows you to erase most of your debt.






22. Charles Schwab & TD Ameritrade & E*TRADE






23. Maximum amount of credit a lender will extend to a customer.






24. Companies that provide extensive financial data to clients






25. Merrill Lynch & Fidelity Investments & American Express






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






27. A government sector that requires all public corporations to make annual reports available to their stockholders






28. Property consisting of houses and land






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






30. Management of investment alternatives to maximize the growth of your portfolio






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






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






33. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this






34. Business Weekly & Forbes & Money






35. Wall Street Journal and Barron's






36. Earning interest on interest.






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






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






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






40. The profit from an investment.






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






42. Charles Schwab & TD Ameritrade & E*TRADE






43. A certificate documenting the shareholder's ownership in the corporation






44. Fee on credit card for making charges above your credit limit.






45. Regular and planned investments






46. The place where stocks are bought and sold.






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






48. A chosen pursuit - profession - or occupation






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






50. Wall Street Journal and Barron's