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






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






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






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






5. Newspapers list of securities






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






7. Bold and high-risk investments






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






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






10. Brokers who provide clients with analysis and opinions






11. 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.






12. Newspapers list of securities






13. A goal to be achieved within the next three months.






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






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






16. Summary of a corporation's financial condition






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






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






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






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






21. 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.






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






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






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






25. Debt obligations of state or local governments






26. 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.






27. Property consisting of houses and land






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






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






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






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






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






33. Investors who are afraid to make investments






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






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






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






37. US treasury security that matures from a few days to one year






38. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






39. Investors who are afraid to make investments






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






41. A goal to be achieved within the next three months.






42. Is a numerical rating - based on credit report information that represents a person's level of creditworthiness






43. Earning interest on interest.






44. Another term for budget






45. A unit of ownership in a corporation






46. 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.






47. 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.






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






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






50. The credit union term for a savings account.