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






2. Charles Schwab & TD Ameritrade & E*TRADE






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






4. 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.






5. A chosen pursuit - profession - or occupation






6. Another term for budget






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






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






9. 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.






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






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






12. A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly - disabled Americans - and orphaned minors.






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






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






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






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






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






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






19. Standard and Poor's and Moody's






20. The credit union term for a savings account.






21. The credit union term for a checking account.






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






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






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






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






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






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






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






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






31. Investing with a series of regular payments; usually associated with life insurance companies






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






33. Expenses that are not fixed.






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






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






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






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






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






39. Bold and high-risk investments






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






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






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






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






44. Investors who are afraid to make investments






45. Associated with owning stock of only one company






46. Investors who take to take chances






47. The place where stocks are bought and sold.






48. The credit union term for a checking account.






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






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