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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. Associated with owning stock of similar groups of businesses






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






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






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






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






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






8. The amount a corporation borrowed in a bond situation






9. A chosen pursuit - profession - or occupation






10. Wall Street Journal and Barron's






11. A legal process to get out of debt when you can no longer make all your required payments.






12. The place where stocks are bought and sold.






13. Investment choices that will be re-evaluated within a year or less






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






15. Newspapers list of securities






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






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






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






19. Standard and Poor's and Moody's






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






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






22. Expenses that are not fixed.






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






24. 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.






25. Regular and planned investments






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






27. Brokers who provide clients with analysis and opinions






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






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






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






31. The entire amount of money you owe to lenders






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






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






34. Summary of a corporation's financial condition






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






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






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






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






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






40. A certificate documenting the shareholder's ownership in the corporation






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






42. Another term for budget






43. 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.'






44. US treasury security that matures in 2 & 5 & or 10 years






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






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






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






48. US treasury security that matures in 30 years






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






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







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Can you answer 50 questions in 15 minutes?


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