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






2. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






3. The credit union term for a checking account.






4. The entire amount of money you owe to lenders






5. Standard and Poor's and Moody's






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






7. Newspapers list of securities






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






9. The place where stocks are bought and sold.






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






11. Collection of investments






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






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






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






15. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.






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






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






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






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






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






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






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






23. Associated with owning stock of similar groups of businesses






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






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






26. A chosen pursuit - profession - or occupation






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






28. A chosen pursuit - profession - or occupation






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






30. Reducing investment risk by putting money in several different types of investments.






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






32. A certificate documenting the shareholder's ownership in the corporation






33. The credit union term for a savings account.






34. Bold and high-risk investments






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






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






37. Associated with owning stock of only one company






38. Brokers who provide clients with analysis and opinions






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






40. US treasury security that matures in 30 years






41. 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.






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






43. Brokers who provided little or no information to clients






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






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






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






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






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






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






50. 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.