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






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






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






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






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






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






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






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






9. A chosen pursuit - profession - or occupation






10. The date on which the borrowed money must be repaid






11. Investors who are afraid to make investments






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






13. Charles Schwab & TD Ameritrade & E*TRADE






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






15. Debt obligations of corporations






16. US treasury security that matures in 30 years






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






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






19. Companies that provide extensive financial data to clients






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






21. The date on which the borrowed money must be repaid






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






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






24. Bold and high-risk investments






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






26. Brokers who provide clients with analysis and opinions






27. Collection of investments






28. The credit union term for a savings account.






29. The maximum amount an insurance company will pay if you file a claim.






30. The place where stocks are bought and sold.






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






32. The profit from an investment.






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






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






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






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






37. Newspapers list of securities






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






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






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






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






42. 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.






43. 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.






44. US treasury security that matures in 30 years






45. Expenses that are not fixed.






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






47. An investment security that is actually a diversified portfolio of equities - bonds or other securities. Investors purchase shares and can sell them at any time.






48. A summary of a person's borrowing and repayment history.






49. A summary of a person's borrowing and repayment history.






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







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