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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. Expenses that aren't paid every month and can be either fixed or variable.
yield
periodic or occasional expenses
grace period
short term goal
2. The belief - qualities - or standards that you consider important or desirable.
spending plan
phishing
values
stocks
3. A form of bankruptcy that allows you to erase most of your debt.
financial pages
chapter 13
chapter 7
spyware
4. Actions that the government might take that would reduce the value of an investment
political risk
share draft account
penny stocks
credit score
5. Collection of investments
non-market risk
options
portfolio
political risk
6. The belief - qualities - or standards that you consider important or desirable.
values
bankruptcy
options
well-know financial magazines
7. Investing with a series of regular payments; usually associated with life insurance companies
pay yourself first - P.Y.F.
bankruptcy
wants
annuities
8. Standard and Poor's and Moody's
origination fee
variable expenses
futures
well-known investor services
9. 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.
US Treasury Bills
diversification
pay yourself first - P.Y.F.
universal default
10. 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.
APR - Average Percentage Rate
well-known discount brokers
spending plan
well-known investor services
11. The maximum amount an insurance company will pay if you file a claim.
coverage limit
stock market
corporate bonds
share account
12. The entire amount of money you owe to lenders
coverage limit
real estate
risk
debt
13. Investors who are afraid to make investments
risk averse
industry risk
Investing
dividend
14. The value of What is given up when you choose one option over another.
wants
market risk
opportunity cost
put-and-take account
15. Movement of money you receive and the money you spend
non-market risk
debit card
stock
cash flow
16. 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.
mutual fund
savings account
opportunity cost
Investing
17. The practice of investing a fixed amount into the same investment at regular intervals - regardless of what the stock market is doing.
periodic or occasional expenses
municipal bonds
dollar cost average
share account
18. Charles Schwab & TD Ameritrade & E*TRADE
well-known discount brokers
Securities and Exchange Commission
interest
short term goal
19. A payroll deduction collected by employers by law and sent to the state government to support state services.
stock market
interest-rate risk
inflation
state income tax
20. A fee charged to a borrower (especially for a mortgage loan) to cover the costs of initiating the loan.
opportunity cost
origination fee
corporate bonds
financial advisers
21. The use of long-term savings to earn a financial return
Investing
futures
chapter 13
well-know full-service brokers
22. The setting aside of money for future use or other investments
over-the-limit fee
chapter 13
pay yourself first - P.Y.F.
credit history
23. Uncontrollable and unpredictable events that cause an investment to lose value
bond
non-market risk
annuities
social security tax
24. Brokers who provided little or no information to clients
inflation
discount brokers
bankruptcy
portfolio
25. A summary of a person's borrowing and repayment history.
market risk
credit history
capital gain
penny stocks
26. A term that describes investments on which earnings are not taxed until retirement
strategic investing
state income tax
tax deferred
credit history
27. A legal process to get out of debt when you can no longer make all your required payments.
credit score
satellite decisions
bankruptcy
company risk
28. Bonds designed for investors wanting to protect again inflation losses
Series EE Savings Bond
spending plan
social security tax
Series I Savings Bond
29. Brokers who provided little or no information to clients
wants
put-and-take account
financial pages
discount brokers
30. 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
social security tax
delayed gratification
annual fee
31. A bank account against which the depositor can draw checks payable on demand.
rate of return
credit report
discount brokers
checking account
32. Another term for budget
spending plan
Series I Savings Bond
bond
well-know full-service brokers
33. The amount of money someone is willing to loan you.
principal
credit report
variable expenses
spyware
34. An account you have at a financial institution that helps you accumulate and save money and earn a small amount of interest at the same time.
annual report
financial advisers
savings account
principal
35. Reducing investment risk by putting money in several different types of investments.
diversification
chapter 7
Temporary investment
delayed gratification
36. The process of dealing with the chance of a potential personal or financial loss.
US Treasury Bills
collectibles
risk management
universal default
37. The willingness to give up something you want now in return for something better in the future.
delayed gratification
speculative investments
periodic or occasional expenses
futures
38. On a credit card - the length of time you have before you start accumulating interest on an unpaid balance.
compounding interest rate
chapter 7
inflation
grace period
39. The chance that an investment's value will decrease
investing risk
universal default
origination fee
diversification
40. The credit union term for a savings account.
financial pages
checking account
credit limit
share account
41. US treasury security that matures in 30 years
yield
options
US Treasury Bonds
put-and-take account
42. Merrill Lynch & Fidelity Investments & American Express
bond
interest-rate risk
well-know financial magazines
well-know full-service brokers
43. The amount a corporation borrowed in a bond situation
Series I Savings Bond
Rule of 72
coverage limit
principal
44. The amount of a loss you must pay out of your own pocket before the insurance company will step in and pay the rest.
deductible
US Treasury Bills
principal
interest
45. US treasury security that matures from a few days to one year
short term goal
options
mutual funds
US Treasury Bills
46. The unique passcode number you use to get access to your savings and/or checking account
Personal Identification Number - PIN
well-known discount brokers
investor services
maturity date
47. Pooling of money from many investors to buy a large & diverse selection of securities
risk taker
mutual funds
Personal Identification Number - PIN
risk
48. Amount of money that is set aside for future purchases
risk taker
compounding interest rate
rate of return
savings
49. A legal process to get out of debt when you can no longer make all your required payments.
bankruptcy
mutual fund
options
chapter 13
50. Investors who take to take chances
values
investing risk
risk taker
strategic investing
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