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






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






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






4. Brokers who provide clients with analysis and opinions






5. 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.






6. A detailed record of your personal credit and financial transactions.






7. The right & not the obligation & to buy or sell commodities or stocks for a specific price on a specific date






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






9. The credit union term for a checking account.






10. The process of dealing with the chance of a potential personal or financial loss.






11. Brokers who provide clients with analysis and opinions






12. The process of dealing with the chance of a potential personal or financial loss.






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






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






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






16. Summary of a corporation's financial condition






17. The amount a corporation borrowed in a bond situation






18. A unit of ownership in a corporation






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






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






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






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






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






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






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






26. Business Weekly & Forbes & Money






27. Another term for budget






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






29. Property consisting of houses and land






30. A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.






31. 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.






32. Regular and planned investments






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






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






35. Charles Schwab & TD Ameritrade & E*TRADE






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






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






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






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






40. Movement of money you receive and the money you spend






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






42. A detailed record of your personal credit and financial transactions.






43. 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.






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






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






46. 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.






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






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






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






50. 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.