Test your basic knowledge |

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. Companies that provide extensive financial data to clients






2. Business Weekly & Forbes & Money






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






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






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






6. 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.






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






8. A general and progressive increase in prices






9. A payroll deduction collected by employers by law and sent to the state government to support state services.






10. Investing with a series of regular payments; usually associated with life insurance companies






11. The profit from an investment.






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






13. Investors who take to take chances






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






15. Property consisting of houses and land






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






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






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






19. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






20. Standard and Poor's and Moody's






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






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






23. A general and progressive increase in prices






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






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






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






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






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






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. Smaller decisions that can result from a major decision.






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. Expenses that are not fixed.






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






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






36. A detailed record of your personal credit and financial transactions.






37. The credit union term for a savings account.






38. 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.






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






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






41. 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.






42. Debt obligations of state or local governments






43. 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.






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






45. 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.






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






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






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






49. A technique to gain personal information for the purpose of identity theft - usually by means of fraudulent e-mail or pop-up messages.






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