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 probability that injury - damage - or loss will occur.






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






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






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






5. Bonds designed for investors wanting to protect again inflation losses






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






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






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






9. Newspapers list of securities






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






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






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






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






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






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






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






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






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






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






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






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






22. 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.






23. Debt obligations of corporations






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






25. Standard and Poor's and Moody's






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






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






28. The credit union term for a savings account.






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






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






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






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






33. Collection of investments






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






35. Standard and Poor's and Moody's






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






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






38. Charles Schwab & TD Ameritrade & E*TRADE






39. Debt obligations of corporations






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






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






42. Collection of investments






43. Brokers who provided little or no information to clients






44. Expenses that are not fixed.






45. 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.






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






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






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






49. 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.'






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests