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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
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. US treasury security that matures in 30 years
diversification
over-the-limit fee
Securities and Exchange Commission
US Treasury Bonds
2. 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.'
market risk
debit card
US Treasury Bills
well-know full-service brokers
3. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
dollar cost average
credit score
universal default
tax deferred
4. A detailed record of your personal credit and financial transactions.
spyware
credit report
annual fee
tax deferred
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.
diversification
deductible
savings account
variable expenses
6. A goal to be achieved within the next three months.
permanent investment
compounding interest rate
career
short term goal
7. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
phishing
credit union
rate of return
mutual funds
8. 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
risk management
credit history
real estate
9. A payroll deduction collected by employers by law and sent to the state government to support state services.
values
investing risk
delayed gratification
state income tax
10. Uncontrollable and unpredictable events that cause an investment to lose value
principal
strategic investing
market risk
non-market risk
11. A bank account against which the depositor can draw checks payable on demand.
investor services
state income tax
diversification
checking account
12. The place where stocks are bought and sold.
dividend
maturity date
stock market
capital loss
13. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
Series EE Savings Bond
credit union
time value of money
risk averse
14. The date on which the borrowed money must be repaid
Personal Identification Number - PIN
non-market risk
maturity date
financial advisers
15. The probability that injury - damage - or loss will occur.
risk
inflation
spyware
investor services
16. Fee on credit card for making charges above your credit limit.
interest-rate risk
over-the-limit fee
initial investing
well-known investor services
17. The setting aside of money for future use or other investments
municipal bonds
pay yourself first - P.Y.F.
Investing
phishing
18. The use of long-term savings to earn a financial return
annuities
Investing
spyware
bond
19. Brokers who provide clients with analysis and opinions
debt
credit score
full-service broker
risk management
20. Summary of a corporation's financial condition
market risk
share draft account
interest-rate risk
annual report
21. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
APR - Average Percentage Rate
variable expenses
capital gain
grace period
22. The belief - qualities - or standards that you consider important or desirable.
Temporary investment
short term goal
values
real estate
23. 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.
portfolio
universal default
time value of money
credit score
24. Management of investment alternatives to maximize the growth of your portfolio
risk averse
dollar cost average
strategic investing
credit score
25. Property consisting of houses and land
real estate
interest
credit
rate of return
26. Investors who are afraid to make investments
risk averse
state income tax
systematic investing
bankruptcy
27. Business Weekly & Forbes & Money
origination fee
well-know financial magazines
capital gain
satellite decisions
28. Spreading risk among many types of investments; one way to minimize risk
futures
risk averse
social security tax
diversification
29. 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.
share account
social security tax
mutual fund
satellite decisions
30. A government sector that requires all public corporations to make annual reports available to their stockholders
mutual fund
annuities
Securities and Exchange Commission
risk management
31. 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.
annuities
savings account
tax deferred
Investing
32. 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.'
debit card
social security tax
debt
strategic investing
33. Merrill Lynch & Fidelity Investments & American Express
well-know full-service brokers
short term goal
initial investing
Rule of 72
34. Things that add comfort and pleasure to your life but you can live without if you need to.
capital gain
time value of money
wants
financial advisers
35. Newspapers list of securities
spyware
stocks
tax deferred
financial pages
36. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
Personal Identification Number - PIN
savings
deductible
savings account
37. A legal process to get out of debt when you can no longer make all your required payments.
debt
yield
spending plan
bankruptcy
38. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller
interest-rate risk
capital gain
pay yourself first - P.Y.F.
short term goal
39. Collection of investments
Series EE Savings Bond
risk
portfolio
wants
40. Spreading risk among many types of investments; one way to minimize risk
well-known discount brokers
deductible
diversification
savings account
41. A general and progressive increase in prices
inflation
futures
maturity date
industry risk
42. A unit of ownership in a corporation
state income tax
delayed gratification
stocks
US Treasury Notes
43. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
over-the-limit fee
bank
maturity date
full-service broker
44. Low-priced stocks of small companies that have no track record
penny stocks
compounding interest rate
annual report
opportunity cost
45. Another term for budget
well-known investor services
deductible
spending plan
capital loss
46. The setting aside of money for future use or other investments
initial investing
pay yourself first - P.Y.F.
annual fee
financial pages
47. Expenses that are not fixed.
variable expenses
diversification
spending plan
portfolio
48. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.
debit card
credit
real estate
strategic investing
49. The willingness to give up something you want now in return for something better in the future.
share draft account
inflation
delayed gratification
investor services
50. Coins & art & memorabilia or other items that are popular from time to time
collectibles
risk
well-know full-service brokers
Series I Savings Bond
Can you answer 50 questions in 15 minutes?
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