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 detailed record of your personal credit and financial transactions.






2. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.






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






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






5. Contacts to buy and sell commodities or stocks for a specific price on a specific date






6. US treasury security that matures in 30 years






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






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






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






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






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






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






13. Associated with owning stock of similar groups of businesses






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






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






16. The place where stocks are bought and sold.






17. 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.'






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






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






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






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






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






23. Summary of a corporation's financial condition






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






25. Business Weekly & Forbes & Money






26. A unit of ownership in a corporation






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






28. 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.'






29. Associated with owning stock of only one company






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






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.






32. Investors who are afraid to make investments






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






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






35. 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.






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






37. The amount a corporation borrowed in a bond situation






38. Charles Schwab & TD Ameritrade & E*TRADE






39. Brokers who provide clients with analysis and opinions






40. Wall Street Journal and Barron's






41. Brokers who provided little or no information to clients






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






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






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






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






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






47. Investment choices that will be held for long periods






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






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






50. The profit from an investment.