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. The date on which the borrowed money must be repaid






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






3. Regular and planned investments






4. Investors who take to take chances






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






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






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






8. The entire amount of money you owe to lenders






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






10. The profit from an investment.






11. 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.






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






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






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






15. 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.






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






17. Debt obligations of corporations






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






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






20. Newspapers list of securities






21. Merrill Lynch & Fidelity Investments & American Express






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






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






24. Brokers who provided little or no information to clients






25. Investing with a series of regular payments; usually associated with life insurance companies






26. The credit union term for a checking account.






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






28. Wall Street Journal and Barron's






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






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






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






32. Regular and planned investments






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






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






35. A chosen pursuit - profession - or occupation






36. Investors who are afraid to make investments






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






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






39. US treasury security that matures in 30 years






40. Investment choices that will be held for long periods






41. Debt obligations of state or local governments






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






43. 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.'






44. A legal process to get out of debt when you can no longer make all your required payments.






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






46. Brokers who provide clients with analysis and opinions






47. Bold and high-risk investments






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






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






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