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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 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.






2. A chosen pursuit - profession - or occupation






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






4. Charles Schwab & TD Ameritrade & E*TRADE






5. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






6. Another term for budget






7. Associated with owning stock of similar groups of businesses






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






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






10. Pooling of money from many investors to buy a large & diverse selection of securities






11. Debt obligations of corporations






12. Brokers who provided little or no information to clients






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






14. Debt obligations of state or local governments






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






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






17. 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.






18. 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.






19. Spreading risk among many types of investments; one way to minimize risk






20. Charles Schwab & TD Ameritrade & E*TRADE






21. Wall Street Journal and Barron's






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






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






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






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






26. The entire amount of money you owe to lenders






27. Debt obligations of corporations






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






29. Business Weekly & Forbes & Money






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






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






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






33. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.






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






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






36. 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.'






37. Debt obligations of state or local governments






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






39. Low-priced stocks of small companies that have no track record






40. An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.






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






42. A chosen pursuit - profession - or occupation






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






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






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






46. Expenses that are not fixed.






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






48. Wall Street Journal and Barron's






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






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






Can you answer 50 questions in 15 minutes?



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