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Test your basic knowledge |
Financial Literacy Basics
Start Test
Study First
Subjects
:
literacy
,
personal-finance
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. Investment choices that will be held for long periods
coverage limit
permanent investment
initial investing
stock
2. 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.
spending plan
rate of return
social security tax
Investing
3. A chosen pursuit - profession - or occupation
career
portfolio
compounding interest rate
share account
4. Management of investment alternatives to maximize the growth of your portfolio
strategic investing
spending plan
variable expenses
APR - Average Percentage Rate
5. Fee on credit card for making charges above your credit limit.
principal
credit
well-know financial magazines
over-the-limit fee
6. A bank account against which the depositor can draw checks payable on demand.
Investing
risk
checking account
penny stocks
7. Spreading risk among many types of investments; one way to minimize risk
time value of money
options
diversification
credit union
8. A technique used for estimating the number of years required to double your money at a given rate
checking account
real estate
Rule of 72
annual fee
9. US treasury security that matures in 2 & 5 & or 10 years
annual report
US Treasury Notes
strategic investing
over-the-limit fee
10. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness
mutual funds
credit score
grace period
collectibles
11. A form of bankruptcy that allows you to erase most of your debt.
pay yourself first - P.Y.F.
annuities
chapter 7
Rule of 72
12. Companies that provide extensive financial data to clients
share account
futures
capital loss
investor services
13. Actions that the government might take that would reduce the value of an investment
political risk
Temporary investment
diversification
risk management
14. A spending plan for managing money during a given period of time.
wants
budget
grace period
credit limit
15. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date
opportunity cost
options
municipal bonds
career
16. The place where stocks are bought and sold.
stock market
delayed gratification
US Treasury Bills
Investing
17. The unique passcode number you use to get access to your savings and/or checking account
put-and-take account
Personal Identification Number - PIN
US Treasury Notes
company risk
18. Spreading risk among many types of investments; one way to minimize risk
stocks
capital gain
ATM - Automatic Teller Machine
diversification
19. Contacts to buy and sell commodities or stocks for a specific price on a specific date
investor services
futures
well-know full-service brokers
cash flow
20. Investors who take to take chances
wants
risk taker
initial investing
annuities
21. Coins & art & memorabilia or other items that are popular from time to time
collectibles
chapter 13
initial investing
tax deferred
22. Collection of investments
capital gain
credit
portfolio
opportunity cost
23. The credit union term for a checking account.
time value of money
political risk
share draft account
delayed gratification
24. Wall Street Journal and Barron's
well-know full-service brokers
well-known financial newspapers
strategic investing
financial advisers
25. The amount a corporation borrowed in a bond situation
industry risk
full-service broker
principal
well-known financial newspapers
26. Bold and high-risk investments
credit
pay yourself first - P.Y.F.
speculative investments
spyware
27. The credit union term for a savings account.
stocks
credit union
APR - Average Percentage Rate
share account
28. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
interest-rate risk
principal
social security tax
29. 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.
checking account
rate of return
Rule of 72
periodic or occasional expenses
30. A bank account against which the depositor can draw checks payable on demand.
over-the-limit fee
checking account
yield
savings
31. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
risk averse
yield
interest
put-and-take account
32. Management of investment alternatives to maximize the growth of your portfolio
Rule of 72
strategic investing
checking account
spyware
33. A general and progressive increase in prices
APR - Average Percentage Rate
inflation
annuities
market risk
34. Movement of money you receive and the money you spend
corporate bonds
pay yourself first - P.Y.F.
cash flow
diversification
35. A summary of a person's borrowing and repayment history.
bankruptcy
Series I Savings Bond
initial investing
credit history
36. Business Weekly & Forbes & Money
checking account
credit
time value of money
well-know financial magazines
37. Things that add comfort and pleasure to your life but you can live without if you need to.
portfolio
diversification
satellite decisions
wants
38. Uncontrollable and unpredictable events that cause an investment to lose value
non-market risk
risk taker
initial investing
full-service broker
39. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
coverage limit
risk taker
put-and-take account
time value of money
40. Charles Schwab & TD Ameritrade & E*TRADE
risk management
Personal Identification Number - PIN
well-known discount brokers
Temporary investment
41. 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.'
Rule of 72
corporate bonds
debit card
financial pages
42. A chosen pursuit - profession - or occupation
systematic investing
career
dividend
annual report
43. Companies that provide extensive financial data to clients
spending plan
delayed gratification
investor services
well-known discount brokers
44. The probability that injury - damage - or loss will occur.
risk
well-know full-service brokers
risk taker
Series EE Savings Bond
45. Another term for budget
risk management
capital gain
variable expenses
spending plan
46. Debt obligations of corporations
social security tax
chapter 7
corporate bonds
well-known financial newspapers
47. The amount a corporation pays at a fixed amount when repaying a bond
principal
US Treasury Notes
full-service broker
interest
48. Things that add comfort and pleasure to your life but you can live without if you need to.
deductible
wants
interest-rate risk
APR - Average Percentage Rate
49. 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.
interest
APR - Average Percentage Rate
over-the-limit fee
state income tax
50. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
annual fee
Rule of 72
financial pages
deductible