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Financial Literacy Basics

  • 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 probability that injury - damage - or loss will occur.

2. The credit union term for a checking account.

3. Earning interest on interest.

4. Property consisting of houses and land

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

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

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

8. Debt obligations of corporations

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

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

11. Associated with owning stock of similar groups of businesses

12. Brokers who provided little or no information to clients

13. Investment choices that will be held for long periods

14. 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.

15. Business Weekly & Forbes & Money

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

17. Charles Schwab & TD Ameritrade & E*TRADE

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

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

20. Regular and planned investments

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

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

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

24. 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.

25. Coins & art & memorabilia or other items that are popular from time to time

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

27. Wall Street Journal and Barron's

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

29. An amount of money that is loaned on trust with the expectation that it will be repaid at a later date.

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

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

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

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

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

35. Newspapers list of securities

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

37. The entire amount of money you owe to lenders

38. Merrill Lynch & Fidelity Investments & American Express

39. Investors who are afraid to make investments

40. Expenses that are not fixed.

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

42. The place where stocks are bought and sold.

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

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

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

46. A unit of ownership in a corporation

47. Reducing investment risk by putting money in several different types of investments.

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

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

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