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






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






3. A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly - disabled Americans - and orphaned minors.






4. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.






5. The date on which the borrowed money must be repaid






6. An amount that credit card companies can charge for the use of a credit card.






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






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






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






10. Another term for budget






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






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






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






14. The use of long-term savings to earn a financial return






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






16. Business Weekly & Forbes & Money






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






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






19. The chance that inflation will rise faster than the rate of return on an investment






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






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






22. Bonds designed for investors wanting to protect again inflation losses






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






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






25. Smaller decisions that can result from a major decision.






26. The credit union term for a checking account.






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






28. Investment choices that will be re-evaluated within a year or less






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






30. The value of What is given up when you choose one option over another.






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






32. The credit union term for a checking account.






33. Investors who take to take chances






34. Newspapers list of securities






35. Standard and Poor's and Moody's






36. 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.






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






38. Investment choices that will be held for long periods






39. Regular and planned investments






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






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






42. A unit of ownership in a corporation






43. Charles Schwab & TD Ameritrade & E*TRADE






44. 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.






45. 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.'






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






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






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






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






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