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






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






3. A formal contract to repay borrowed money with interest at fixed intervals






4. US treasury security that matures in 30 years






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






6. Business Weekly & Forbes & Money






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






8. The probability that injury - damage - or loss will occur.






9. Summary of a corporation's financial condition






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






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






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






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






14. A general and progressive increase in prices






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






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






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






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






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






20. Brokers who provide clients with analysis and opinions






21. A general and progressive increase in prices






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






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






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






25. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






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






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






28. Associated with owning stock of only one company






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






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






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






32. Property consisting of houses and land






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






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






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






36. Earning interest on interest.






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






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






39. A chosen pursuit - profession - or occupation






40. Bold and high-risk investments






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






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






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






44. Brokers who provided little or no information to clients






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






46. The credit union term for a savings account.






47. The credit union term for a savings account.






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






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






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