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. 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.






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






3. Property consisting of houses and land






4. Associated with owning stock of only one company






5. The credit union term for a checking account.






6. The amount a corporation borrowed in a bond situation






7. The portion of the profits paid to the shareholders of a company.






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






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






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






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






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






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






14. Contacts to buy and sell commodities or stocks for a specific price on a specific date






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






16. Wall Street Journal and Barron's






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






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






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






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






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






22. Another term for budget






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






24. 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.'






25. The entire amount of money you owe to lenders






26. Bold and high-risk investments






27. Earning interest on interest.






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






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






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






31. Losses in an investment as a result of the business cycle






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






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






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






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






36. Investment choices that will be held for long periods






37. 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.






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






39. The use of long-term savings to earn a financial return






40. Newspapers list of securities






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






42. The profit from an investment.






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






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






45. Merrill Lynch & Fidelity Investments & American Express






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






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






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






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






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