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. The place where stocks are bought and sold.






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






3. The credit union term for a savings account.






4. Management of investment alternatives to maximize the growth of your portfolio






5. Property consisting of houses and land






6. Newspapers list of securities






7. A general and progressive increase in prices






8. A general and progressive increase in prices






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






10. 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.






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






12. Business Weekly & Forbes & Money






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






14. The chance that inflation will rise faster than the rate of return on an investment






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






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






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






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






19. The entire amount of money you owe to lenders






20. 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.






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






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






23. Expenses that are not fixed.






24. A term that describes investments on which earnings are not taxed until retirement






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






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






27. Earning interest on interest.






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






29. Investors who are afraid to make investments






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






31. Summary of a corporation's financial condition






32. Coins & art & memorabilia or other items that are popular from time to time






33. The amount a corporation borrowed in a bond situation






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






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






36. Summary of a corporation's financial condition






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






38. 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.






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






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






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






42. Investors who are afraid to make investments






43. Companies that provide extensive financial data to clients






44. Another term for budget






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






46. The place where stocks are bought and sold.






47. A form of bankruptcy that allows you to erase most of your debt.






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






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






50. The amount of money someone is willing to loan you.