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. Low-priced stocks of small companies that have no track record






2. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






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






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






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






6. Debt obligations of state or local governments






7. 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.






8. Investment choices that will be held for long periods






9. The credit union term for a checking account.






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






11. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






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






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






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






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






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






17. Charles Schwab & TD Ameritrade & E*TRADE






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






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






20. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






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






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






23. Investors who are afraid to make investments






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






25. The chance that an investment's value will decrease






26. The total amount of what it costs you to use credit in a given year. It is expressed as a percentage of the amount borrowed.






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






28. A general and progressive increase in prices






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






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






31. Bold and high-risk investments






32. Debt obligations of corporations






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






34. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25






35. The place where stocks are bought and sold.






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






37. Another term for budget






38. Business Weekly & Forbes & Money






39. Collection of investments






40. The difference between a higher selling price and a lower purchase price - resulting in a financial gain for the seller






41. Investors who take to take chances






42. Bold and high-risk investments






43. A general and progressive increase in prices






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






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






46. Charles Schwab & TD Ameritrade & E*TRADE






47. Expenses that are not fixed.






48. Investors who take to take chances






49. Earning interest on interest.






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