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






2. The amount a corporation borrowed in a bond situation






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






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






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






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






7. A bank account against which the depositor can draw checks payable on demand.






8. An investment security that is actually a diversified portfolio of equities - bonds or other securities. Investors purchase shares and can sell them at any time.






9. 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.'






10. Standard and Poor's and Moody's






11. Companies that provide extensive financial data to clients






12. US treasury security that matures in 30 years






13. Things that add comfort and pleasure to your life but you can live without if you need to.






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






15. Merrill Lynch & Fidelity Investments & American Express






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






17. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest.






18. The credit union term for a savings account.






19. Bold and high-risk investments






20. Property consisting of houses and land






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






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






23. 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.






24. Charles Schwab & TD Ameritrade & E*TRADE






25. Maximum amount of credit a lender will extend to a customer.






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






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






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






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






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






31. Charles Schwab & TD Ameritrade & E*TRADE






32. Maximum amount of credit a lender will extend to a customer.






33. Business Weekly & Forbes & Money






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






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






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






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






38. Debt obligations of corporations






39. Expenses that are not fixed.






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






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






42. 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.






43. Conservative investing; used when you have 'excess' savings






44. The portion of the profits paid to the shareholders of a company.






45. Another term for budget






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






47. Business Weekly & Forbes & Money






48. Regular and planned investments






49. Wall Street Journal and Barron's






50. Investment choices that will be held for long periods







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


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