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Test your basic knowledge |
Financial Literacy Basics
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Subjects
:
literacy
,
personal-finance
Instructions:
Answer 50 questions in 15 minutes.
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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. Companies that provide extensive financial data to clients
savings
Personal Identification Number - PIN
spending plan
investor services
2. 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.
Rule of 72
well-known financial newspapers
savings
portfolio
3. US treasury security that matures from a few days to one year
US Treasury Bills
phishing
discount brokers
Investing
4. Investment choices that will be re-evaluated within a year or less
capital gain
compounding interest rate
tax deferred
Temporary investment
5. The willingness to give up something you want now in return for something better in the future.
delayed gratification
principal
mutual funds
credit
6. A goal to be achieved within the next three months.
systematic investing
short term goal
company risk
market risk
7. Investment choices that will be held for long periods
coverage limit
permanent investment
risk averse
cash flow
8. 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.'
risk management
variable expenses
APR - Average Percentage Rate
debit card
9. Money used for short-term needs like emergencies; advisers recommend three to six months' net pay for set aside for this
capital gain
rate of return
put-and-take account
variable expenses
10. The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.
delayed gratification
time value of money
stock market
spyware
11. Conservative investing; used when you have 'excess' savings
initial investing
credit history
cash flow
well-known financial newspapers
12. Amount of money that is set aside for future purchases
savings
dollar cost average
state income tax
well-known financial newspapers
13. The increase or decrease in the original purchase price of an investment over a period of time.
checking account
municipal bonds
rate of return
stock
14. A certificate documenting the shareholder's ownership in the corporation
company risk
stock
capital loss
share account
15. Coins & art & memorabilia or other items that are popular from time to time
financial pages
collectibles
Rule of 72
chapter 13
16. Coins & art & memorabilia or other items that are popular from time to time
Securities and Exchange Commission
well-known financial newspapers
collectibles
real estate
17. Losses in an investment as a result of the business cycle
tax deferred
principal
satellite decisions
market risk
18. The difference between a lower selling price and a higher purchase price resulting in a financial loss for the seller
debit card
capital loss
bank
investor services
19. A general and progressive increase in prices
risk
inflation
risk
diversification
20. The value of What is given up when you choose one option over another.
stocks
strategic investing
diversification
opportunity cost
21. The use of long-term savings to earn a financial return
put-and-take account
Investing
municipal bonds
real estate
22. Fee on credit card for making charges above your credit limit.
variable expenses
over-the-limit fee
chapter 13
short term goal
23. A form of bankruptcy that allows you to erase most of your debt.
chapter 7
phishing
mutual funds
career
24. Smaller decisions that can result from a major decision.
satellite decisions
phishing
diversification
strategic investing
25. Debt obligations of corporations
financial pages
credit history
corporate bonds
options
26. US treasury security that matures in 2 & 5 & or 10 years
US Treasury Notes
universal default
compounding interest rate
grace period
27. Standard and Poor's and Moody's
investor services
collectibles
well-known investor services
investing risk
28. A government sector that requires all public corporations to make annual reports available to their stockholders
Series I Savings Bond
mutual funds
principal
Securities and Exchange Commission
29. Bonds designed for investors wanting to protect again inflation losses
Series I Savings Bond
Securities and Exchange Commission
interest
yield
30. A legal process to get out of debt when you can no longer make all your required payments.
discount brokers
bankruptcy
chapter 7
company risk
31. Investors who take to take chances
risk taker
options
dollar cost average
APR - Average Percentage Rate
32. Property consisting of houses and land
market risk
Series EE Savings Bond
real estate
well-known discount brokers
33. Newspapers list of securities
maturity date
Personal Identification Number - PIN
financial pages
market risk
34. Associated with owning stock of only one company
corporate bonds
Personal Identification Number - PIN
Investing
company risk
35. A term that describes investments on which earnings are not taxed until retirement
cash flow
tax deferred
investor services
origination fee
36. A term that describes investments on which earnings are not taxed until retirement
tax deferred
periodic or occasional expenses
coverage limit
municipal bonds
37. A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.
origination fee
bank
budget
municipal bonds
38. A formal contract to repay borrowed money with interest at fixed intervals
yield
interest-rate risk
Securities and Exchange Commission
bond
39. Summary of a corporation's financial condition
Personal Identification Number - PIN
APR - Average Percentage Rate
annual report
risk taker
40. Investors who are afraid to make investments
risk averse
inflation
savings account
satellite decisions
41. Standard and Poor's and Moody's
state income tax
checking account
well-known investor services
financial advisers
42. 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.
discount brokers
portfolio
discount brokers
social security tax
43. Losses in an investment as a result of the business cycle
political risk
share account
over-the-limit fee
market risk
44. The place where stocks are bought and sold.
credit report
short term goal
real estate
stock market
45. Brokers who provide clients with analysis and opinions
chapter 7
full-service broker
stocks
real estate
46. Debt obligations of state or local governments
risk averse
bank
real estate
municipal bonds
47. The entire amount of money you owe to lenders
debt
Rule of 72
capital loss
US Treasury Bonds
48. Contacts to buy and sell commodities or stocks for a specific price on a specific date
Rule of 72
mutual fund
futures
well-known financial newspapers
49. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
credit union
periodic or occasional expenses
credit
investing risk
50. Discount bonds; a bond purchased for less than the maturity value; example you buy a $50 bond for $25
delayed gratification
spending plan
Series EE Savings Bond
penny stocks
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