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. Property consisting of houses and land






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






3. Debt obligations of corporations






4. A bad side effect of free downloads that may be used to send you pop-up ads - redirect your computer to unwanted Web sites - monitor your Internet surfing - or record your keystrokes in an effort to steal your identity.






5. Charles Schwab & TD Ameritrade & E*TRADE






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






7. Associated with owning stock of similar groups of businesses






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






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






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






11. Brokers who provide clients with analysis and opinions






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






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






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






15. The amount a corporation borrowed in a bond situation






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






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






18. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.






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






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






21. Collection of investments






22. The entire amount of money you owe to lenders






23. Smaller decisions that can result from a major decision.






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






25. US treasury security that matures in 30 years






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






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






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






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






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






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






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






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






34. 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.






35. Standard and Poor's and Moody's






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






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






38. The entire amount of money you owe to lenders






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






40. Expenses that are not fixed.






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






42. The credit union term for a checking account.






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






44. Bold and high-risk investments






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






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






47. Debt obligations of corporations






48. A general and progressive increase in prices






49. Brokers who provided little or no information to clients






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