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. Movement of money you receive and the money you spend






2. The amount a corporation borrowed in a bond situation






3. Business Weekly & Forbes & Money






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






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






6. Newspapers list of securities






7. Property consisting of houses and land






8. Bold and high-risk investments






9. A spending plan for managing money during a given period of time.






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






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.






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






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






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






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






16. People trained to give investment advise based on your goals & age & lifestyle & etc






17. Merrill Lynch & Fidelity Investments & American Express






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






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






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






21. 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.'






22. Collection of investments






23. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






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






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






26. People trained to give investment advise based on your goals & age & lifestyle & etc






27. The place where stocks are bought and sold.






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






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






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






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






32. A unit of ownership in a corporation






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






34. Losses in an investment as a result of the business cycle






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






36. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






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






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






39. Companies that provide extensive financial data to clients






40. 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.






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






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






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






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






45. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller






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






47. The credit union term for a savings account.






48. Coins & art & memorabilia or other items that are popular from time to time






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






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